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Economy of Eswatini vs Jamaica compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $22.7B for Jamaica, ranking 163/197 and 125/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $15.4B (67.7% of GDP) in Jamaica.

Eswatini vs Jamaica GDP by year

Eswatini
Jamaica
1x
Year GDP, current $
Eswatini Jamaica
2025 $5,160,679,613 $22,704,903,218
2024 $4,858,885,841 $22,014,429,051
2023 $4,621,191,262 $21,418,797,833
2022 $4,746,660,274 $18,813,516,805
2021 $4,807,069,277 $15,963,885,376
2020 $4,134,677,810 $15,000,214,216
2019 $4,617,018,959 $17,026,269,263
2018 $4,643,751,059 $16,855,447,986
2017 $4,462,640,651 $15,783,583,237
2016 $3,722,306,117 $14,898,999,754
2015 $3,908,217,914 $14,963,589,916
2014 $4,285,065,665 $13,899,217,680
2013 $4,463,396,204 $14,264,205,153
2012 $4,747,813,067 $14,807,086,556
2011 $4,722,912,047 $14,444,661,522
2010 $4,360,714,359 $13,220,549,908
2009 $3,525,213,502 $12,120,458,115
2008 $3,235,921,171 $13,709,401,520
2007 $3,391,122,887 $12,799,600,047
2006 $3,215,307,901 $11,930,179,090
2005 $3,097,946,371 $11,243,865,778
2004 $2,710,331,785 $10,174,664,854
2003 $2,149,632,433 $9,430,234,811
2002 $1,393,945,031 $9,719,009,495
2001 $1,502,870,486 $9,194,727,831
2000 $1,697,161,558 $9,005,064,475
1999 $1,547,888,496 $8,887,057,997
1998 $1,576,908,856 $8,787,195,622
1997 $1,716,714,070 $8,400,041,724
1996 $1,602,741,834 $7,393,891,921
1995 $1,698,989,464 $6,577,520,643
1994 $1,419,294,254 $5,452,558,947
1993 $1,357,189,552 $5,440,075,676
1992 $1,284,759,928 $3,535,460,090
1991 $1,156,135,718 $4,106,207,649
1990 $1,114,694,041 $4,592,208,087
1989 $696,921,542 $4,404,937,853
1988 $692,026,455 $3,828,342,820
1987 $584,126,092 $3,287,007,322
1986 $449,140,318 $2,754,549,582
1985 $360,079,419 $2,100,239,019
1984 $494,483,409 $2,373,564,549
1983 $555,336,146 $3,619,262,277
1982 $537,568,059 $3,293,496,312
1981 $570,774,825 $2,979,027,966
1980 $541,976,853 $2,679,379,372
1979 $412,093,134 $2,425,064,229
1978 $340,630,085 $2,644,527,822
1977 $304,060,076 $3,249,733,140
1976 $272,550,068 $2,966,042,856
1975 $288,299,789 $2,860,442,750
1974 $264,320,941 $2,375,122,375
1973 $221,915,128 $1,905,917,553
1972 $146,736,479 $1,875,146,587
1971 $136,462,081 $1,539,861,816
1970 $112,139,955 $1,404,720,442
1969 $105,419,958 $1,191,239,047
1968 $79,799,968 $1,083,839,133
1967 $74,759,970 $1,148,014,311
1966 $76,859,969 $1,096,759,561
1965 $70,279,972 $972,159,611
1964 $64,980,554 $897,949,001
1963 $54,129,438 $826,706,669
1962 $45,927,962 $777,727,689
1961 $43,026,043 $748,043,501
1960 $35,076,846 $699,064,380

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

GDP per capita in Eswatini vs Jamaica by year

Eswatini
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $8,003 -
2024 $3,910 $11,799 $7,754 $12,890
2023 $3,756 $11,300 $7,542 $12,651
2022 $3,894 $10,635 $6,626 $11,888
2021 $3,984 $9,990 $5,626 $10,431
2020 $3,467 $9,329 $5,299 $9,764
2019 $3,913 $9,248 $6,031 $10,845
2018 $3,973 $8,535 $5,977 $10,753
2017 $3,853 $8,584 $5,605 $10,466
2016 $3,238 $8,484 $5,302 $9,948
2015 $3,420 $8,391 $5,339 $9,476
2014 $3,771 $8,366 $4,975 $9,210
2013 $3,950 $8,231 $5,124 $9,101
2012 $4,225 $7,760 $5,341 $8,831
2011 $4,225 $7,571 $5,233 $8,809
2010 $3,923 $7,324 $4,810 $8,521
2009 $3,190 $7,011 $4,428 $8,580
2008 $2,947 $6,914 $5,030 $8,952
2007 $3,109 $6,732 $4,716 $8,893
2006 $2,965 $6,319 $4,417 $8,577
2005 $2,871 $5,773 $4,184 $8,127
2004 $2,526 $5,310 $3,808 $7,854
2003 $2,015 $5,020 $3,550 $7,593
2002 $1,316 $4,742 $3,681 $7,226
2001 $1,430 $4,521 $3,504 $7,019
2000 $1,630 $4,401 $3,453 $6,816
1999 $1,502 $4,272 $3,432 $6,653
1998 $1,547 $4,137 $3,419 $6,543
1997 $1,705 $4,038 $3,297 $6,682
1996 $1,619 $3,916 $2,929 $6,706
1995 $1,751 $3,777 $2,631 $6,657
1994 $1,461 $3,526 $2,203 $6,435
1993 $1,397 $3,371 $2,221 $6,279
1992 $1,362 $3,289 $1,458 $5,664
1991 $1,273 $3,236 $1,710 $5,485
1990 $1,278 $3,202 $1,930 $5,106
1989 $832 - $1,865 -
1988 $865 - $1,632 -
1987 $765 - $1,411 -
1986 $611 - $1,191 -
1985 $510 - $917 -
1984 $726 - $1,048 -
1983 $843 - $1,619 -
1982 $843 - $1,494 -
1981 $925 - $1,370 -
1980 $908 - $1,249 -
1979 $714 - $1,144 -
1978 $610 - $1,262 -
1977 $563 - $1,569 -
1976 $521 - $1,450 -
1975 $568 - $1,417 -
1974 $536 - $1,193 -
1973 $463 - $972 -
1972 $315 - $971 -
1971 $301 - $809 -
1970 $254.2 - $748 -
1969 $245.2 - $642 -
1968 $190.4 - $591 -
1967 $182.8 - $633 -
1966 $192.7 - $612 -
1965 $181 - $549 -
1964 $171.6 - $514 -
1963 $146.4 - $480 -
1962 $127.1 - $458 -
1961 $121.8 - $447 -
1960 $101.6 - $424 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $8,003 in Jamaica, ranking 98/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Jamaica ranks 121st at $12,890.

Economic indicators

Eswatini Jamaica
Gross domestic product
$5.16B
2025
$22.7B
2025
GDP rank
163/197
2025
125/197
2025
GDP growth
4.19%
2024-2025
0.08%
2024-2025
GDP per capita
$4,108
2025
$8,003
2025
GDP per capita rank
131/197
2025
98/197
2025
GDP per capita, PPP
$11,799
2024
$12,890
2024
GDP per capita PPP rank
126/197
2024
121/197
2024
Government debt
$2.31B
2025
$15.4B
2025
Debt-to-GDP ratio
44.9%
2025
67.7%
2025
Government debt per person
$1,843
2025
$5,419
2025
Government debt per person rank
121/185
2025
80/185
2025
Average annual personal income after taxes
$4,770
2026
$8,390
2026
Market capitalization of domestic companies
$234M
2007
$11.6B
2025
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
29.6%
2021
Income share by poorest 10%
1.4%
2016
2.2%
2021
Government expenditure, % of GDP
35.7%
2025
33.8%
2025
Consumer prices inflation
2.6%
2018-2019
4%
2024-2025
Central bank interest rate
6.75%
2025
5.75%
2025
Unemployment rate
34.3%
2023
3.02%
2023
Population
1276995
2834177

Spending and national debt comparison by year

Eswatini
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Eswatini Jamaica
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 33.8% 67.7%
2024 33.6% 40.1% 30.1% 62.5%
2023 31.5% 39.4% 27.7% 66.5%
2022 28.9% 39.5% 27.1% 70.2%
2021 29.3% 37.3% 27.6% 86.3%
2020 32.2% 37.7% 30.1% 101.3%
2019 32.8% 30.5% 27.5% 87.7%
2018 31.6% 26.5% 27.5% 88.3%
2017 33.6% 21.7% 26.9% 95.1%
2016 34% 20.1% 26.5% 106.9%
2015 34.5% 16% 25.9% 115.9%
2014 32.7% 14.1% 26.1% 134.4%
2013 28.8% 15.2% 26.3% 135.2%
2012 27.1% 14.8% 29.1% 140.3%
2011 25.1% 14.6% 31.2% 135.9%
2010 31.1% 14.2% 32.3% 137.8%
2009 33.9% 10.6% 37.7% 138.3%
2008 33.4% 14.6% 33.9% 123.8%
2007 30.4% 16.1% 30.6% 111.6%
2006 27.6% 14.7% 30.1% 114.2%
2005 29% 13.6% 28.6% 121.5%
2004 31% 15% 30.7% 116.9%
2003 25.9% 17.7% 31.1% 120.1%
2002 26.5% 17.2% 30.1% 115.4%
2001 25.6% 21.7% 27.8% 105.3%
2000 24.7% 18.2% 25.7% 89.5%
1999 25.8% 16.7% 27.9% 80.7%
1998 22% 15.6% 27.9% 75.6%
1997 20.7% 12.7% 27.6% 74.4%
1996 22.5% 11.5% 27.4% 70.2%
1995 19.9% 12.5% 22.1% 85.2%
1994 23.4% 13.1% 19.9% 90.4%
1993 23% 15% 19.6% 106.2%
1992 24.7% 16.6% 18.2% 100.4%
1991 19.6% 20.1% 19.9% 175.1%
1990 18.2% 20.4% 22.6% 128.8%
1989 15.8% 26.8% - -
1988 15.6% 27.5% - -
1987 17% 36.1% - -
1986 19.8% 44% - -
1985 22.3% 45.5% - -
1984 22.2% 29.7% - -
1983 23.2% 28.7% - -
1982 24% 29.2% - -
1981 23.8% 24.3% - -
1980 19.6% 27.2% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Jamaica spent $7.68B, or 33.8% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 67.7% in Jamaica, ranking 118/185 and 62/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Jamaica
1x
Year Deficit/surplus, % of GDP
Eswatini Jamaica
2025 -6.14% -3.77%
2024 -1.06% 0.22%
2023 -0.66% 0.04%
2022 -5.27% 0.26%
2021 -4.55% 0.84%
2020 -4.21% -2.87%
2019 -6.23% 0.85%
2018 -6.59% 1.1%
2017 -5.64% 0.42%
2016 -8.36% -0.18%
2015 -5.89% -0.28%
2014 -1.16% -0.48%
2013 0.57% 0.12%
2012 3.39% -3.97%
2011 -3.88% -6.24%
2010 -9.34% -6.17%
2009 -3% -10.8%
2008 1.58% -7.32%
2007 2.37% -3.7%
2006 8.67% -4.74%
2005 -1.66% -3.22%
2004 -3.97% -4.56%
2003 -2.11% -5.42%
2002 -3.69% -6.55%
2001 -2.24% -4.77%
2000 -1.19% -0.78%
1999 -1.23% -3.41%
1998 1.05% -5.73%
1997 2.06% -6.39%
1996 -0.97% -5.25%
1995 0.87% 1.53%
1994 -3.43% 2.4%
1993 -3.15% 2.37%
1992 -2.76% 2.83%
1991 3.28% 3.14%
1990 5.47% 2.06%
1989 5.82% -
1988 3.23% -
1987 2.03% -
1986 -2.41% -
1985 -1.33% -
1984 1.25% -
1983 -0.6% -
1982 0.11% -
1981 -4.29% -
1980 6.55% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

In 2025, Eswatini's government deficit, the difference between spending and revenue, was $317M, equivalent to 6.14% of GDP. This compares to Jamaica's deficit of $856M, or 3.77% of GDP.

Over the past 36 years, Eswatini recorded a fiscal deficit in 26 of those years, while Jamaica ran a deficit in 22 years. On average, Eswatini posted an annual deficit equal to 1.92% of GDP, compared to deficit of 2.18% of GDP for Jamaica.

Inflation comparison by year

Inflation
Eswatini

Jamaica
1x
Year Consumer prices inflation
Eswatini Jamaica
2025 - 4%
2024 - 5.41%
2023 - 6.47%
2022 - 10.3%
2021 - 5.86%
2020 - 5.23%
2019 2.6% 3.91%
2018 4.82% 3.74%
2017 6.22% 4.38%
2016 7.85% 2.35%
2015 4.95% 3.69%
2014 5.68% 8.27%
2013 5.62% 9.34%
2012 8.94% 6.87%
2011 6.11% 7.56%
2010 4.51% 12.6%
2009 7.45% 9.59%
2008 12.7% 22%
2007 8.08% 9.24%
2006 5.3% 8.56%
2005 4.77% 15.1%
2004 3.45% 13.6%
2003 7.29% 10.1%
2002 12% 7.08%
2001 5.94% 6.8%
2000 12.2% 8.17%
1999 6.09% 5.95%
1998 8.11% 8.63%
1997 7.13% 9.66%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 8.57% in Jamaica. In 2019, inflation was 2.6% in Eswatini and 4% in Jamaica.

Top exports between countries

Eswatini
Export category Export value
Miscellaneous $2K
Jamaica
Export category Export value

Balance of trade

Eswatini Jamaica
Current account balance
$78.3M
2024
$679M
2024
Current account balance ranking
65/190
2024
53/190
2024
Current account balance, % of GDP
+1.61%
2024
+3.08%
2024
Goods imports
$2.07B
2024
$6.07B
2024
Goods exports
$2.33B
2024
$1.87B
2024
Service imports
$542M
2024
$3.46B
2024
Service exports
$234M
2024
$5.26B
2024
Imports of goods and services, % of GDP
53.7%
2024
52.1%
2019
Exports of goods and services, % of GDP
53.8%
2024
38%
2019

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Eswatini Jamaica
Economic freedom 57.5 68.2
Economic freedom ranking 116/197 48/197
Property rights 42.5 66.8
Government integrity 29.7 49.4
Judicial effectiveness 35.5 75.6
Tax burden 78.6 76.3
Government spending 71 76
Fiscal health 87.5 92.2
Business freedom 49.9 68.5
Labor freedom 55.2 59.2
Monetary freedom 76.8 74.2
Trade freedom 73.6 70.4
Investment freedom 50 60
Financial freedom 40 50

Economic freedom comparison by year

Eswatini
Jamaica
1x
Year Economic freedom index
Eswatini Jamaica
2026 57.5 68.2
2025 56.4 68.7
2024 55.6 68.1
2023 54.9 68.1
2022 51.4 67.4
2021 55.1 69
2020 55.3 68.5
2019 54.7 68.6
2018 55.9 69.1
2017 61.1 69.5
2016 59.7 67.5
2015 59.9 67.7
2014 61.2 66.7
2013 57.2 66.8
2012 57.2 65.1
2011 59.1 65.7
2010 57.4 65.5
2009 59.1 65.2
2008 58.4 65.7
2007 60.1 65.5
2006 61.4 66.4
2005 59.4 67
2004 58.6 66.7
2003 59.6 67
2002 60.9 61.7
2001 63.6 63.7
2000 62.6 65.5
1999 62.1 64.7
1998 62 67.1
1997 59.4 67.7
1996 58.6 66.7
1995 63.3 64.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 68.2 for Jamaica, ranking 48/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Jamaica
Services, % of GDP
52.4%
2025
59.8%
2025
Industry, % of GDP
33.6%
2025
16.3%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
8.74%
2025
GNI, Atlas method
$4.69B
2025
$22.1B
2025
GNI per capita, PPP
$11,390
2025
$13,090
2025
Total reserves including gold
$537M
2024
$6.3B
2025
Total reserves ranking
157/177
2024
92/177
2025
Net foreign direct investment
-$11.8M
2024
-$304M
2024
Net inflows of foreign direct investment
$75.5M
2024
$305M
2024
Net outflows of foreign direct investment
$63.8M
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
11.3%
2024
Poverty at national poverty lines
58.9%
2016
8.2%
2023
Gross capital formation, % of GDP
15%
2024
22.6%
2019

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/jamaica | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2021, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.