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Economy of Eswatini vs Laos compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $16.5B for Laos, ranking 162/197 and 139/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $16.6B (100.5% of GDP) in Laos.

Eswatini vs Laos GDP by year

Eswatini
Laos
1x
Year GDP, current $
Eswatini Laos
2024 $4,858,885,841 $16,502,933,121
2023 $4,621,191,262 $15,843,155,731
2022 $4,746,660,274 $15,468,785,204
2021 $4,807,069,277 $18,827,148,531
2020 $4,134,677,810 $18,981,805,250
2019 $4,617,018,959 $18,740,561,513
2018 $4,643,751,059 $18,141,641,090
2017 $4,462,640,651 $17,071,155,481
2016 $3,722,306,117 $15,912,501,723
2015 $3,908,217,914 $14,426,380,126
2014 $4,285,065,665 $13,279,245,886
2013 $4,463,396,204 $11,983,252,627
2012 $4,747,813,067 $10,192,846,339
2011 $4,722,912,047 $8,750,104,617
2010 $4,360,714,359 $7,131,771,015
2009 $3,525,213,502 $5,836,137,330
2008 $3,235,921,171 $5,446,433,157
2007 $3,391,122,887 $4,223,152,739
2006 $3,215,307,901 $3,455,030,061
2005 $3,097,946,371 $2,735,558,735
2004 $2,710,331,785 $2,366,398,120
2003 $2,149,632,433 $2,023,324,407
2002 $1,393,945,031 $1,758,176,653
2001 $1,502,870,486 $1,768,619,058
2000 $1,697,161,558 $1,731,198,022
1999 $1,547,888,496 $1,454,430,642
1998 $1,576,908,856 $1,280,177,839
1997 $1,716,714,070 $1,747,011,857
1996 $1,602,741,834 $1,873,671,550
1995 $1,698,989,464 $1,763,536,305
1994 $1,419,294,254 $1,543,606,345
1993 $1,357,189,552 $1,327,748,690
1992 $1,284,759,928 $1,127,806,945
1991 $1,156,135,718 $1,028,087,972
1990 $1,114,694,041 $865,559,879
1989 $696,921,542 $714,046,821
1988 $692,026,455 $598,961,269
1987 $584,126,092 $1,087,273,104
1986 $449,140,318 $1,776,842,097
1985 $360,079,419 $2,366,666,616
1984 $494,483,409 $1,757,142,856
1983 $555,336,146 -
1982 $537,568,059 -
1981 $570,774,825 -
1980 $541,976,853 -
1979 $412,093,134 -
1978 $340,630,085 -
1977 $304,060,076 -
1976 $272,550,068 -
1975 $288,299,789 -
1974 $264,320,941 -
1973 $221,915,128 -
1972 $146,736,479 -
1971 $136,462,081 -
1970 $112,139,955 -
1969 $105,419,958 -
1968 $79,799,968 -
1967 $74,759,970 -
1966 $76,859,969 -
1965 $70,279,972 -
1964 $64,980,554 -
1963 $54,129,438 -
1962 $45,927,962 -
1961 $43,026,043 -
1960 $35,076,846 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Eswatini vs Laos by year

Eswatini
GDP per capita

GDP per capita, PPP
Laos
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Laos
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $2,124 $9,776
2023 $3,756 $11,300 $2,067 $9,292
2022 $3,894 $10,635 $2,046 $8,766
2021 $3,984 $9,990 $2,526 $8,080
2020 $3,467 $9,329 $2,584 $7,913
2019 $3,913 $9,248 $2,589 $7,743
2018 $3,973 $8,535 $2,545 $7,487
2017 $3,853 $8,584 $2,432 $7,142
2016 $3,238 $8,484 $2,303 $6,743
2015 $3,420 $8,391 $2,121 $6,086
2014 $3,771 $8,366 $1,981 $5,799
2013 $3,950 $8,231 $1,813 $5,222
2012 $4,225 $7,760 $1,564 $4,781
2011 $4,225 $7,571 $1,362 $4,100
2010 $3,923 $7,324 $1,126 $3,772
2009 $3,190 $7,011 $935 $3,485
2008 $2,947 $6,914 $886 $3,271
2007 $3,109 $6,732 $697 $3,021
2006 $2,965 $6,319 $579 $2,777
2005 $2,871 $5,773 $466 $2,519
2004 $2,526 $5,310 $409 $2,315
2003 $2,015 $5,020 $355 $2,151
2002 $1,316 $4,742 $313 $2,020
2001 $1,430 $4,521 $320 $1,908
2000 $1,630 $4,401 $319 $1,794
1999 $1,502 $4,272 $272.3 $1,686
1998 $1,547 $4,137 $243.9 $1,577
1997 $1,705 $4,038 $339 $1,528
1996 $1,619 $3,916 $371 $1,435
1995 $1,751 $3,777 $358 $1,349
1994 $1,461 $3,526 $321 $1,265
1993 $1,397 $3,371 $283.4 $1,176
1992 $1,362 $3,289 $247.3 $1,114
1991 $1,273 $3,236 $231.8 $1,061
1990 $1,278 $3,202 $200.7 $1,012
1989 $832 - $170.4 -
1988 $865 - $147.1 -
1987 $765 - $274.7 -
1986 $611 - $462 -
1985 $510 - $633 -
1984 $726 - $483 -
1983 $843 - - -
1982 $843 - - -
1981 $925 - - -
1980 $908 - - -
1979 $714 - - -
1978 $610 - - -
1977 $563 - - -
1976 $521 - - -
1975 $568 - - -
1974 $536 - - -
1973 $463 - - -
1972 $315 - - -
1971 $301 - - -
1970 $254.2 - - -
1969 $245.2 - - -
1968 $190.4 - - -
1967 $182.8 - - -
1966 $192.7 - - -
1965 $181 - - -
1964 $171.6 - - -
1963 $146.4 - - -
1962 $127.1 - - -
1961 $121.8 - - -
1960 $101.6 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $2,124 in Laos, ranking 155/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Laos ranks 134th at $9,776.

Economic indicators

Eswatini Laos
Gross domestic product
$4.86B
2024
$16.5B
2024
GDP rank
162/197
2024
139/197
2024
GDP growth
2.97%
2023-2024
4.13%
2023-2024
GDP per capita
$3,910
2024
$2,124
2024
GDP per capita rank
131/197
2024
155/197
2024
GDP per capita, PPP
$11,799
2024
$9,776
2024
GDP per capita PPP rank
126/197
2024
134/197
2024
Government debt
$1.93B
2024
$16.6B
2024
Debt-to-GDP ratio
39.8%
2024
100.5%
2024
Government debt per person
$1,554
2024
$2,134
2024
Government debt per person rank
130/185
2024
119/185
2024
Average annual personal income after taxes
$3,913
2026
$2,096
2026
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
42.7%
2016
31.2%
2018
Income share by poorest 10%
1.4%
2016
3%
2018
Government expenditure, % of GDP
33.3%
2024
15.7%
2024
Consumer prices inflation
2.6%
2018-2019
23.1%
2023-2024
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.6%
2023
1.21%
2022
Population
1273390
8004838

Spending and national debt comparison by year

Eswatini
Spending

Debt
Laos
Spending

Debt
1x
Year % of GDP
Eswatini Laos
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 15.7% 100.5%
2023 32% 40% 16.4% 116.5%
2022 29.6% 40.5% 14.7% 130.7%
2021 30.1% 38.4% 15.7% 92.9%
2020 32.7% 38.2% 18.4% 76%
2019 32.9% 30.7% 18.6% 69.1%
2018 32.2% 27% 20.7% 60.6%
2017 33.9% 21.9% 21.8% 57.2%
2016 34.7% 20.5% 21.1% 54.5%
2015 35.3% 16.4% 25.8% 53.1%
2014 33.3% 14.3% 25% 53.5%
2013 29.4% 15.5% 24.2% 49.5%
2012 27.8% 15.2% 24.7% 46.1%
2011 26% 15.1% 20.2% 43%
2010 31.6% 14.5% 22.4% 49.3%
2009 34.5% 10.8% 20.1% 51.8%
2008 34.4% 15% 16.1% 51.7%
2007 31.2% 16.6% 15.1% 55.9%
2006 28.2% 15% 14.7% 60%
2005 29.7% 13.9% 15.3% 73.2%
2004 32% 15.5% 13.6% 80.7%
2003 26.4% 18% 16% 90.1%
2002 27.2% 17.6% 16.6% 95.3%
2001 26.4% 22.4% 18.8% 94.7%
2000 25.3% 18.7% 19.9% -
1999 26.5% 17.2% - -
1998 22.5% 15.9% - -
1997 21.2% 13% - -
1996 23.3% 12% - -
1995 20.5% 12.9% - -
1994 24.7% 13.8% - -
1993 24% 15.6% - -
1992 26% 16.6% - -
1991 20.3% 20.1% - -
1990 18.7% 20.4% - -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1992, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Laos spent $2.58B, or 15.7% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 100.5% in Laos, ranking 134/185 and 24/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Laos
1x
Year Deficit/surplus, % of GDP
Eswatini Laos
2024 -1.36% 2.34%
2023 -0.67% -0.01%
2022 -5.4% 0.06%
2021 -4.68% -0.67%
2020 -4.27% -5.37%
2019 -6.26% -3.2%
2018 -6.72% -4.46%
2017 -5.68% -5.51%
2016 -8.54% -5.06%
2015 -6.03% -5.57%
2014 -1.18% -3.13%
2013 0.59% -4.03%
2012 3.48% -2.34%
2011 -4.02% -1.43%
2010 -9.52% -1.47%
2009 -3.06% -3.1%
2008 1.63% -1.86%
2007 2.44% -1.12%
2006 8.88% -1.48%
2005 -1.7% -2.54%
2004 -4.1% -1.81%
2003 -2.15% -3.89%
2002 -3.78% -2.85%
2001 -2.31% -3.68%
2000 -1.22% -3.58%
1999 -1.27% -
1998 1.07% -
1997 2.11% -
1996 -1% -
1995 0.9% -
1994 -3.61% -
1993 -3.29% -
1992 -2.9% -
1991 3.4% -
1990 5.61% -
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Eswatini's government deficit, the difference between spending and revenue, was $66.2M, equivalent to 1.36% of GDP. This compares to Laos' surplus of $386M, or 2.34% of GDP.

Over the past 25 years, Eswatini recorded a fiscal deficit in 20 of those years, while Laos ran a deficit in 23 years. On average, Eswatini posted an annual deficit equal to 2.63% of GDP, compared to deficit of 2.63% of GDP for Laos.

Inflation comparison by year

Inflation
Eswatini

Laos
1x
Year Consumer prices inflation
Eswatini Laos
2024 - 23.1%
2023 - 31.2%
2022 - 23%
2021 - 3.8%
2020 - 5.1%
2019 2.6% 3.3%
2018 4.82% 2%
2017 6.22% 0.8%
2016 7.85% 1.6%
2015 4.95% 1.3%
2014 5.68% 4.1%
2013 5.62% 6.4%
2012 8.94% 4.3%
2011 6.11% 7.6%
2010 4.51% 6%
2009 7.45% 0.1%
2008 12.7% 7.6%
2007 8.08% 4.7%
2006 5.3% 6.5%
2005 4.77% 7.2%
2004 3.45% 10.5%
2003 7.29% 15.5%
2002 12% 10.6%
2001 5.94% 7.8%
2000 12.2% 8.4%
1999 6.09% 128.4%
1998 8.11% 90.1%
1997 7.13% 19.5%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 15.4% in Laos. In 2019, inflation was 2.6% in Eswatini and 23.1% in Laos.

Top exports between countries

Eswatini
Export category Export value
Laos
Export category Export value
Wood & paper products $85K
Metals $27K
Textiles & consumer goods $23K
Processed food, beverages & tobacco $9K
Machinery & equipment $1K

Balance of trade

Eswatini Laos
Current account balance
$78.3M
2024
$531M
2024
Current account balance ranking
69/190
2024
61/190
2024
Current account balance, % of GDP
+1.61%
2024
+3.22%
2024
Goods imports
$2.07B
2024
$8.66B
2024
Goods exports
$2.33B
2024
$9.39B
2024
Service imports
$542M
2024
$1.27B
2024
Service exports
$234M
2024
$1.73B
2024
Imports of goods and services, % of GDP
53.7%
2024
41.9%
2016
Exports of goods and services, % of GDP
53.8%
2024
33.2%
2016

Economic freedom indices

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

Eswatini Laos
Economic freedom 57.5 50.9
Economic freedom ranking 116/197 157/197
Property rights 42.5 41.1
Government integrity 29.7 25.9
Judicial effectiveness 35.5 10.2
Tax burden 78.6 88.5
Government spending 71 92.7
Fiscal health 87.5 80
Business freedom 49.9 54.2
Labor freedom 55.2 40.7
Monetary freedom 76.8 53.3
Trade freedom 73.6 69
Investment freedom 50 35
Financial freedom 40 20

Economic freedom comparison by year

Eswatini
Laos
1x
Year Economic freedom index
Eswatini Laos
2026 57.5 50.9
2025 56.4 51.1
2024 55.6 50.6
2023 54.9 50.3
2022 51.4 49.2
2021 55.1 53.9
2020 55.3 55.5
2019 54.7 57.4
2018 55.9 53.6
2017 61.1 54
2016 59.7 49.8
2015 59.9 51.4
2014 61.2 51.2
2013 57.2 50.1
2012 57.2 50
2011 59.1 51.3
2010 57.4 51.1
2009 59.1 50.4
2008 58.4 50.3
2007 60.1 50.3
2006 61.4 47.5
2005 59.4 44.4
2004 58.6 42
2003 59.6 41
2002 60.9 36.8
2001 63.6 33.5
2000 62.6 36.8
1999 62.1 35.2
1998 62 35.2
1997 59.4 35.1
1996 58.6 38.5
1995 63.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 50.9 for Laos, ranking 157/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Laos
Services, % of GDP
51.4%
2024
43.5%
2024
Industry, % of GDP
34.7%
2024
29%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
16.8%
2024
GNI, Atlas method
$4.46B
2024
$15.5B
2024
GNI per capita, PPP
$10,760
2024
$9,160
2024
Total reserves including gold
$479M
2023
$1.77B
2023
Total reserves ranking
159/177
2023
129/177
2023
Net foreign direct investment
-$11.8M
2024
-$988M
2024
Net inflows of foreign direct investment
$75.5M
2024
$988M
2024
Net outflows of foreign direct investment
$63.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
13.8%
2024
Poverty at national poverty lines
58.9%
2016
22%
2020
Gross capital formation, % of GDP
15%
2024
29%
2016

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1992, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.