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Economy of Eswatini vs Lebanon compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $26B for Lebanon, ranking 163/197 and 121/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $41B (139.4% of GDP) in Lebanon.

Eswatini vs Lebanon GDP by year

Eswatini
Lebanon
1x
Year GDP, current $
Eswatini Lebanon
2025 $5,160,679,613 -
2024 $4,858,885,841 $25,971,643,441
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 (1960–2025, retrieved 2026-07-08).

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
2025 $4,108 - - -
2024 $3,910 $11,799 $4,473 -
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 (1960–2025, retrieved 2026-07-08).

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

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $4,473 in Lebanon, ranking 129/197. 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
$5.16B
2025
$26B
2024
GDP rank
163/197
2025
121/197
2024
GDP growth
4.19%
2024-2025
-7.08%
2023-2024
GDP per capita
$4,108
2025
$4,473
2024
GDP per capita rank
131/197
2025
129/197
2024
GDP per capita, PPP
$11,799
2024
$12,575
2023
GDP per capita PPP rank
126/197
2024
123/197
2023
Government debt
$2.31B
2025
$41B
2024
Debt-to-GDP ratio
44.9%
2025
139.4%
2025
Government debt per person
$1,843
2025
$7,061
2024
Government debt per person rank
121/185
2025
71/185
2024
Average annual personal income after taxes
$4,770
2026
$3,055
2026
Market capitalization of domestic companies
$234M
2007
$10.6B
2021
Number of billionaires
1
2026
6
2026
Income share by richest 10%
42.7%
2016
25.6%
2022
Income share by poorest 10%
1.4%
2016
2.8%
2022
Government expenditure, % of GDP
35.7%
2025
15.5%
2025
Consumer prices inflation
2.6%
2018-2019
14.6%
2024-2025
Central bank interest rate
6.75%
2025
20%
2023
Unemployment rate
34.3%
2023
11.3%
2019
Population
1276995
5921719

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
2025 35.7% 44.9% 15.5% 139.4%
2024 33.6% 40.1% 15.3% 157.9%
2023 31.5% 39.4% 14.3% 185.8%
2022 28.9% 39.5% 12.9% 235.9%
2021 29.3% 37.3% 10.5% 346%
2020 32.2% 37.7% 24.5% 157.2%
2019 32.8% 30.5% 31.3% 171.9%
2018 31.6% 26.5% 32.1% 154%
2017 33.6% 21.7% 30.7% 150.4%
2016 34% 20.1% 28.6% 147.9%
2015 34.5% 16% 26.7% 140.9%
2014 32.7% 14.1% 28.9% 138.5%
2013 28.8% 15.2% 28.9% 135.4%
2012 27.1% 14.8% 30.2% 131.1%
2011 25.1% 14.6% 28.8% 134.4%
2010 31.1% 14.2% 29.2% 136.8%
2009 33.9% 10.6% 32.1% 144.5%
2008 33.4% 14.6% 34.3% 161.5%
2007 30.4% 16.1% 35.2% 169.3%
2006 27.6% 14.7% 36.1% 183.3%
2005 29% 13.6% 31.4% 178.9%
2004 31% 15% 33.3% 169.5%
2003 25.9% 17.7% 36.4% 171.3%
2002 26.5% 17.2% 36.8% 163.1%
2001 25.6% 21.7% 38.9% 163.1%
2000 24.7% 18.2% 42.8% 148.1%
1999 25.8% 16.7% 35.6% 130.2%
1998 22% 15.6% 34.7% 108.2%
1997 20.7% 12.7% 40.5% 100.2%
1996 22.5% 11.5% 43.6% 101.2%
1995 19.9% 12.5% 31.1% 79.6%
1994 23.4% 13.1% 47.3% 71.5%
1993 23% 15% 23% 50.5%
1992 24.7% 16.6% 36.1% 51.7%
1991 19.6% 20.1% 35.6% 67.1%
1990 18.2% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1999, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Lebanon spent $3.98B, or 15.5% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 139.4% in Lebanon, ranking 118/185 and 8/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Lebanon
1x
Year Deficit/surplus, % of GDP
Eswatini Lebanon
2025 -6.14% 3.25%
2024 -1.06% 0.39%
2023 -0.66% -1.64%
2022 -5.27% -7.49%
2021 -4.55% -2.57%
2020 -4.21% -7.79%
2019 -6.23% -10.5%
2018 -6.59% -11.2%
2017 -5.64% -8.68%
2016 -8.36% -8.98%
2015 -5.89% -7.49%
2014 -1.16% -6.22%
2013 0.57% -8.83%
2012 3.39% -8.43%
2011 -3.88% -5.94%
2010 -9.34% -7.47%
2009 -3% -8.1%
2008 1.58% -9.86%
2007 2.37% -10.9%
2006 8.67% -10.6%
2005 -1.66% -8.57%
2004 -3.97% -9.83%
2003 -2.11% -14%
2002 -3.69% -16.2%
2001 -2.24% -21%
2000 -1.19% -23.9%
1999 -1.23% -16.7%
1998 1.05% -17.3%
1997 2.06% -24.5%
1996 -0.97% -25.7%
1995 0.87% -13.6%
1994 -3.43% -29.1%
1993 -3.15% -7.19%
1992 -2.76% -24%
1991 3.28% -19.5%
1990 5.47% -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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-07-08).

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

In 2024, Eswatini's government deficit, the difference between spending and revenue, was $51.7M, equivalent to 1.06% of GDP. This compares to Lebanon's surplus of $102M, or 0.39% of GDP.

Over the past 35 years, Eswatini recorded a fiscal deficit in 25 of those years, while Lebanon ran a deficit in 34 years. On average, Eswatini posted an annual deficit equal to 1.8% of GDP, compared to deficit of 12.7% of GDP for Lebanon.

Inflation comparison by year

Inflation
Eswatini

Lebanon
1x
Year Consumer prices inflation
Eswatini Lebanon
2025 - 14.6%
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% 4.4%
2016 7.85% -0.8%
2015 4.95% -3.7%
2014 5.68% 1.9%
2013 5.62% 4.8%
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 (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2019, retrieved 2026-07-08).

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 14.6% in Lebanon.

Top exports between countries

Eswatini
Export category Export value
Processed food, beverages & tobacco $94K
Lebanon
Export category Export value
Machinery & equipment $55K
Wood & paper products $28K
Metals $22K
Textiles & consumer goods $8K
Miscellaneous $5K
Chemicals & pharma $3K
Processed food, beverages & tobacco $3K

Balance of trade

Eswatini Lebanon
Current account balance
$78.3M
2024
-$5.64B
2023
Current account balance ranking
65/190
2024
166/190
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
58.9%
2024
Exports of goods and services, % of GDP
53.8%
2024
23.3%
2024

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 2026-07-08).

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
52.4%
2025
35.7%
2024
Industry, % of GDP
33.6%
2025
2.63%
2024
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
1.05%
2024
GNI, Atlas method
$4.69B
2025
$20.7B
2024
GNI per capita, PPP
$11,390
2025
$11,790
2024
Total reserves including gold
$537M
2024
$33.3B
2024
Total reserves ranking
157/177
2024
56/177
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
4.88%
2024
9.68%
2024
Poverty at national poverty lines
58.9%
2016
27.4%
2012
Gross capital formation, % of GDP
15%
2024
1.44%
2024

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/lebanon | 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 (1980–1999, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.