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Economy of Eswatini vs Lebanon compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $20.1B for Lebanon, ranking 162/197 and 128/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $38.7B (163.8% of GDP) in Lebanon.

Eswatini vs Lebanon GDP by year

Eswatini
Lebanon
1x
Year GDP, current $
Eswatini Lebanon
2024 $4,858,885,841 -
2023 $4,621,191,262 $20,078,620,357
2022 $4,746,660,274 $20,992,421,949
2021 $4,807,069,277 $23,131,941,557
2020 $4,134,677,810 $31,712,128,254
2019 $4,617,018,959 $51,605,959,131
2018 $4,643,751,059 $54,901,519,156
2017 $4,462,640,651 $53,027,680,686
2016 $3,722,306,117 $51,147,308,774
2015 $3,908,217,914 $49,929,337,837
2014 $4,285,065,665 $48,095,213,747
2013 $4,463,396,204 $46,880,103,081
2012 $4,747,813,067 $44,016,799,516
2011 $4,722,912,047 $39,927,125,962
2010 $4,360,714,359 $38,443,907,042
2009 $3,525,213,502 $35,399,582,929
2008 $3,235,921,171 $29,118,916,105
2007 $3,391,122,887 $24,827,355,015
2006 $3,215,307,901 $22,022,709,851
2005 $3,097,946,371 $21,497,336,499
2004 $2,710,331,785 $21,159,827,992
2003 $2,149,632,433 $20,082,918,740
2002 $1,393,945,031 $19,152,238,806
2001 $1,502,870,486 $17,649,751,244
2000 $1,697,161,558 $17,260,364,842
1999 $1,547,888,496 $17,391,056,369
1998 $1,576,908,856 $17,247,179,006
1997 $1,716,714,070 $15,751,867,489
1996 $1,602,741,834 $13,690,217,334
1995 $1,698,989,464 $11,718,795,529
1994 $1,419,294,254 $9,599,127,050
1993 $1,357,189,552 $7,941,744,492
1992 $1,284,759,928 $5,843,579,161
1991 $1,156,135,718 $4,690,415,093
1990 $1,114,694,041 $2,838,485,354
1989 $696,921,542 $2,717,998,688
1988 $692,026,455 $3,313,540,068
1987 $584,126,092 -
1986 $449,140,318 -
1985 $360,079,419 -
1984 $494,483,409 -
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/lebanon | CC BY

GDP per capita in Eswatini vs Lebanon by year

Eswatini
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 - -
2023 $3,756 $11,300 $3,478 $12,575
2022 $3,894 $10,635 $3,654 $12,293
2021 $3,984 $9,990 $4,045 $11,600
2020 $3,467 $9,329 $5,561 $16,260
2019 $3,913 $9,248 $8,906 $21,710
2018 $3,973 $8,535 $9,175 $21,985
2017 $3,853 $8,584 $8,608 $20,964
2016 $3,238 $8,484 $8,089 $18,941
2015 $3,420 $8,391 $7,714 $17,046
2014 $3,771 $8,366 $7,578 $16,140
2013 $3,950 $8,231 $8,162 $16,316
2012 $4,225 $7,760 $8,407 $16,121
2011 $4,225 $7,571 $7,835 $14,975
2010 $3,923 $7,324 $7,626 $14,704
2009 $3,190 $7,011 $7,091 $13,586
2008 $2,947 $6,914 $5,912 $12,416
2007 $3,109 $6,732 $5,125 $11,356
2006 $2,965 $6,319 $4,635 $10,312
2005 $2,871 $5,773 $4,602 $10,020
2004 $2,526 $5,310 $4,601 $9,609
2003 $2,015 $5,020 $4,438 $8,914
2002 $1,316 $4,742 $4,291 $8,586
2001 $1,430 $4,521 $4,010 $8,289
2000 $1,630 $4,401 $3,987 $7,938
1999 $1,502 $4,272 $4,087 $7,793
1998 $1,547 $4,137 $4,125 $7,861
1997 $1,705 $4,038 $3,834 $7,632
1996 $1,619 $3,916 $3,393 $7,560
1995 $1,751 $3,777 $2,959 $6,796
1994 $1,461 $3,526 $2,468 $6,367
1993 $1,397 $3,371 $2,079 $5,871
1992 $1,362 $3,289 $1,559 $5,279
1991 $1,273 $3,236 $1,278 $4,527
1990 $1,278 $3,202 $790 $2,990
1989 $832 - $771 -
1988 $865 - $959 -
1987 $765 - - -
1986 $611 - - -
1985 $510 - - -
1984 $726 - - -
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/lebanon | CC BY

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $3,478 in Lebanon, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Lebanon ranks 123rd at $12,575.

Economic indicators

Eswatini Lebanon
Gross domestic product
$4.86B
2024
$20.1B
2023
GDP rank
162/197
2024
128/197
2023
GDP growth
2.97%
2023-2024
-0.76%
2022-2023
GDP per capita
$3,910
2024
$3,478
2023
GDP per capita rank
131/197
2024
135/197
2023
GDP per capita, PPP
$11,799
2024
$12,575
2023
GDP per capita PPP rank
126/197
2024
123/197
2023
Government debt
$1.93B
2024
$38.7B
2023
Debt-to-GDP ratio
39.8%
2024
163.8%
2024
Government debt per person
$1,554
2024
$6,704
2023
Government debt per person rank
130/185
2024
70/185
2023
Average annual personal income after taxes
$3,913
2026
$3,560
2026
Market capitalization of domestic companies
$234M
2007
$10.6B
2021
Number of billionaires
1
2025
6
2025
Income share by richest 10%
42.7%
2016
25.1%
2022
Income share by poorest 10%
1.4%
2016
2.8%
2022
Government expenditure, % of GDP
33.3%
2024
16.5%
2024
Consumer prices inflation
2.6%
2018-2019
45.2%
2023-2024
Central bank interest rate
6.75%
2025
20%
2023
Unemployment rate
34.6%
2023
11.3%
2019
Population
1273390
5906622

Spending and national debt comparison by year

Eswatini
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Eswatini Lebanon
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 16.5% 163.8%
2023 32% 40% 14.9% 192.8%
2022 29.6% 40.5% 13.4% 244.6%
2021 30.1% 38.4% 10.9% 358%
2020 32.7% 38.2% 23.2% 148.7%
2019 32.9% 30.7% 31.3% 172.1%
2018 32.2% 27% 32.3% 155.1%
2017 33.9% 21.9% 30.6% 150%
2016 34.7% 20.5% 28.3% 146.4%
2015 35.3% 16.4% 26.7% 140.8%
2014 33.3% 14.3% 28.8% 138.4%
2013 29.4% 15.5% 28.9% 135.4%
2012 27.8% 15.2% 30.2% 131.1%
2011 26% 15.1% 28.8% 134.4%
2010 31.6% 14.5% 29.2% 136.8%
2009 34.5% 10.8% 32.1% 144.5%
2008 34.4% 15% 34.3% 161.5%
2007 31.2% 16.6% 35.2% 169.3%
2006 28.2% 15% 36.1% 183.3%
2005 29.7% 13.9% 31.4% 178.9%
2004 32% 15.5% 33.3% 169.5%
2003 26.4% 18% 36.4% 171.3%
2002 27.2% 17.6% 36.8% 163.1%
2001 26.4% 22.4% 38.9% 163.1%
2000 25.3% 18.7% 42.8% 148.1%
1999 26.5% 17.2% 35.6% 130.2%
1998 22.5% 15.9% 34.7% 108.2%
1997 21.2% 13% 40.5% 100.2%
1996 23.3% 12% 43.6% 101.2%
1995 20.5% 12.9% 31.1% 79.6%
1994 24.7% 13.8% 47.3% 71.5%
1993 24% 15.6% 23% 50.5%
1992 26% 16.6% 36.1% 51.7%
1991 20.3% 20.1% 35.6% 67.1%
1990 18.7% 20.4% 40% 99.7%
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 (1980–1999, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Lebanon spent $2.99B, or 16.5% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 163.8% in Lebanon, ranking 134/185 and 6/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Lebanon
1x
Year Deficit/surplus, % of GDP
Eswatini Lebanon
2024 -1.36% -0.19%
2023 -0.67% -1.7%
2022 -5.4% -7.77%
2021 -4.68% -2.67%
2020 -4.27% -7.37%
2019 -6.26% -10.5%
2018 -6.72% -11.3%
2017 -5.68% -8.65%
2016 -8.54% -8.88%
2015 -6.03% -7.48%
2014 -1.18% -6.22%
2013 0.59% -8.82%
2012 3.48% -8.43%
2011 -4.02% -5.94%
2010 -9.52% -7.47%
2009 -3.06% -8.1%
2008 1.63% -9.86%
2007 2.44% -10.9%
2006 8.88% -10.6%
2005 -1.7% -8.57%
2004 -4.1% -9.83%
2003 -2.15% -14%
2002 -3.78% -16.2%
2001 -2.31% -21%
2000 -1.22% -23.9%
1999 -1.27% -16.7%
1998 1.07% -17.3%
1997 2.11% -24.5%
1996 -1% -25.7%
1995 0.9% -13.6%
1994 -3.61% -29.1%
1993 -3.29% -7.19%
1992 -2.9% -24%
1991 3.4% -19.5%
1990 5.61% -30.2%
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/lebanon | CC BY

In 2023, Eswatini's government deficit, the difference between spending and revenue, was $30.8M, equivalent to 0.67% of GDP. This compares to Lebanon's deficit of $342M, or 1.7% of GDP.

Over the past 34 years, Eswatini recorded a fiscal deficit in 24 of those years, while Lebanon ran a deficit in 34 years. On average, Eswatini posted an annual deficit equal to 1.86% of GDP, compared to deficit of 13.1% of GDP for Lebanon.

Inflation comparison by year

Inflation
Eswatini

Lebanon
1x
Year Consumer prices inflation
Eswatini Lebanon
2024 - 45.2%
2023 - 221.3%
2022 - 171.2%
2021 - 154.8%
2020 - 84.9%
2019 2.6% 2.9%
2018 4.82% 6.1%
2017 6.22% 4.5%
2016 7.85% -0.8%
2015 4.95% -3.8%
2014 5.68% 1.1%
2013 5.62% 5.6%
2012 8.94% 6.6%
2011 6.11% 5%
2010 4.51% 4%
2009 7.45% 1.2%
2008 12.7% 10.7%
2007 8.08% 4.1%
2006 5.3% 4.1%
2005 4.77% -1.4%
2004 3.45% 1.7%
2003 7.29% 1.3%
2002 12% 1.8%
2001 5.94% -0.4%
2000 12.2% -0.4%
1999 6.09% 0.2%
1998 8.11% 4.5%
1997 7.13% 7.7%

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/lebanon | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 2.88% in Lebanon. In 2019, inflation was 2.6% in Eswatini and 45.2% in Lebanon.

Top exports between countries

Eswatini
Export category Export value
Processed food, beverages & tobacco $70K
Lebanon
Export category Export value
Machinery & equipment $30K
Wood & paper products $28K
Metals $22K
Textiles & consumer goods $8K
Miscellaneous $5K
Processed food, beverages & tobacco $3K

Balance of trade

Eswatini Lebanon
Current account balance
$78.3M
2024
-$5.64B
2023
Current account balance ranking
69/190
2024
168/190
2023
Current account balance, % of GDP
+1.61%
2024
-28.1%
2023
Goods imports
$2.07B
2024
$16.7B
2023
Goods exports
$2.33B
2024
$3.85B
2023
Service imports
$542M
2024
$6.63B
2023
Service exports
$234M
2024
$7.92B
2023
Imports of goods and services, % of GDP
53.7%
2024
73.7%
2023
Exports of goods and services, % of GDP
53.8%
2024
30.6%
2023

Economic freedom indices

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

Eswatini Lebanon
Economic freedom 57.5 43.1
Economic freedom ranking 116/197 183/197
Property rights 42.5 21.8
Government integrity 29.7 23.4
Judicial effectiveness 35.5 23.8
Tax burden 78.6 90.3
Government spending 71 93.3
Fiscal health 87.5 63.4
Business freedom 49.9 47.6
Labor freedom 55.2 48.4
Monetary freedom 76.8 0
Trade freedom 73.6 65.6
Investment freedom 50 20
Financial freedom 40 20

Economic freedom comparison by year

Eswatini
Lebanon
1x
Year Economic freedom index
Eswatini Lebanon
2026 57.5 43.1
2025 56.4 44.1
2024 55.6 48.3
2023 54.9 45.6
2022 51.4 47.3
2021 55.1 51.4
2020 55.3 51.7
2019 54.7 51.1
2018 55.9 53.2
2017 61.1 53.3
2016 59.7 59.5
2015 59.9 59.3
2014 61.2 59.4
2013 57.2 59.5
2012 57.2 60.1
2011 59.1 60.1
2010 57.4 59.5
2009 59.1 58.1
2008 58.4 60
2007 60.1 60.4
2006 61.4 57.5
2005 59.4 57.2
2004 58.6 56.9
2003 59.6 56.7
2002 60.9 57.1
2001 63.6 61
2000 62.6 56.1
1999 62.1 59.1
1998 62 59
1997 59.4 63.9
1996 58.6 63.2
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 43.1 for Lebanon, ranking 183/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Lebanon
Services, % of GDP
51.4%
2024
42.4%
2023
Industry, % of GDP
34.7%
2024
2.09%
2023
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
0.97%
2023
GNI, Atlas method
$4.46B
2024
$21.4B
2023
GNI per capita, PPP
$10,760
2024
$12,420
2023
Total reserves including gold
$479M
2023
$33.3B
2024
Total reserves ranking
159/177
2023
54/177
2024
Net foreign direct investment
-$11.8M
2024
-$583M
2023
Net inflows of foreign direct investment
$75.5M
2024
$1.84B
2024
Net outflows of foreign direct investment
$63.8M
2024
$391M
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
22%
2023
Poverty at national poverty lines
58.9%
2016
27.4%
2012
Gross capital formation, % of GDP
15%
2024
1.9%
2023

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/lebanon | 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 (1980–1999, 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)

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.