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Economy of Eswatini vs Mauritius compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $14.9B for Mauritius, ranking 162/197 and 143/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $13.6B (91.1% of GDP) in Mauritius.

Eswatini vs Mauritius GDP by year

Eswatini
Mauritius
1x
Year GDP, current $
Eswatini Mauritius
2024 $4,858,885,841 $14,937,861,786
2023 $4,621,191,262 $14,072,212,290
2022 $4,746,660,274 $12,936,444,123
2021 $4,807,069,277 $11,622,048,697
2020 $4,134,677,810 $11,566,111,138
2019 $4,617,018,959 $14,645,235,205
2018 $4,643,751,059 $14,957,535,716
2017 $4,462,640,651 $13,896,938,315
2016 $3,722,306,117 $12,757,680,847
2015 $3,908,217,914 $12,162,211,503
2014 $4,285,065,665 $13,230,490,082
2013 $4,463,396,204 $12,434,596,541
2012 $4,747,813,067 $11,832,323,837
2011 $4,722,912,047 $11,677,718,382
2010 $4,360,714,359 $10,144,716,155
2009 $3,525,213,502 $9,264,513,545
2008 $3,235,921,171 $10,127,777,060
2007 $3,391,122,887 $8,277,442,915
2006 $3,215,307,901 $7,137,710,413
2005 $3,097,946,371 $6,576,108,447
2004 $2,710,331,785 $6,667,418,752
2003 $2,149,632,433 $5,894,873,920
2002 $1,393,945,031 $4,906,494,249
2001 $1,502,870,486 $4,675,755,867
2000 $1,697,161,558 $4,726,108,622
1999 $1,547,888,496 $4,402,193,195
1998 $1,576,908,856 $4,225,813,976
1997 $1,716,714,070 $4,243,755,308
1996 $1,602,741,834 $4,481,489,762
1995 $1,698,989,464 $4,094,741,652
1994 $1,419,294,254 $3,606,050,873
1993 $1,357,189,552 $3,307,302,126
1992 $1,284,759,928 $3,267,677,814
1991 $1,156,135,718 $2,895,354,736
1990 $1,114,694,041 $2,689,212,760
1989 $696,921,542 $2,211,312,823
1988 $692,026,455 $2,163,252,449
1987 $584,126,092 $1,906,174,438
1986 $449,140,318 $1,482,601,552
1985 $360,079,419 $1,090,611,325
1984 $494,483,409 $1,054,564,759
1983 $555,336,146 $1,104,956,573
1982 $537,568,059 $1,092,923,636
1981 $570,774,825 $1,157,769,444
1980 $541,976,853 $1,147,027,924
1979 $412,093,134 $1,227,446,632
1978 $340,630,085 $1,029,040,323
1977 $304,060,076 $834,722,972
1976 $272,550,068 $713,510,052
1975 $288,299,789 $673,311,287
1974 $264,320,941 $669,894,030
1973 $221,915,128 $404,285,775
1972 $146,736,479 $318,664,900
1971 $136,462,081 $251,437,338
1970 $112,139,955 $224,125,805
1969 $105,419,958 $221,553,613
1968 $79,799,968 $206,576,631
1967 $74,759,970 $238,439,291
1966 $76,859,969 $227,534,083
1965 $70,279,972 $230,024,161
1964 $64,980,554 $218,914,569
1963 $54,129,438 $253,839,558
1962 $45,927,962 $197,738,208
1961 $43,026,043 $191,757,729
1960 $35,076,846 $162,089,564

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

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

GDP per capita in Eswatini vs Mauritius by year

Eswatini
GDP per capita

GDP per capita, PPP
Mauritius
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Mauritius
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $11,991 $31,840
2023 $3,756 $11,300 $11,270 $29,561
2022 $3,894 $10,635 $10,247 $26,874
2021 $3,984 $9,990 $9,178 $23,010
2020 $3,467 $9,329 $9,136 $21,622
2019 $3,913 $9,248 $11,568 $24,375
2018 $3,973 $8,535 $11,819 $23,416
2017 $3,853 $8,584 $10,987 $22,898
2016 $3,238 $8,484 $10,095 $21,952
2015 $3,420 $8,391 $9,631 $20,270
2014 $3,771 $8,366 $10,490 $19,294
2013 $3,950 $8,231 $9,877 $18,435
2012 $4,225 $7,760 $9,422 $17,259
2011 $4,225 $7,571 $9,324 $16,884
2010 $3,923 $7,324 $8,113 $15,920
2009 $3,190 $7,011 $7,427 $15,105
2008 $2,947 $6,914 $8,141 $14,569
2007 $3,109 $6,732 $6,677 $13,612
2006 $2,965 $6,319 $5,784 $12,593
2005 $2,871 $5,773 $5,354 $11,703
2004 $2,526 $5,310 $5,461 $11,216
2003 $2,015 $5,020 $4,858 $10,535
2002 $1,316 $4,742 $4,073 $9,824
2001 $1,430 $4,521 $3,909 $9,586
2000 $1,630 $4,401 $3,982 $9,143
1999 $1,502 $4,272 $3,746 $8,344
1998 $1,547 $4,137 $3,642 $8,121
1997 $1,705 $4,038 $3,696 $7,651
1996 $1,619 $3,916 $3,952 $7,206
1995 $1,751 $3,777 $3,648 $6,771
1994 $1,461 $3,526 $3,240 $6,414
1993 $1,397 $3,371 $3,014 $6,116
1992 $1,362 $3,289 $3,013 $5,753
1991 $1,273 $3,236 $2,705 $5,351
1990 $1,278 $3,202 $2,540 $5,010
1989 $832 - $2,103 -
1988 $865 - $2,074 -
1987 $765 - $1,840 -
1986 $611 - $1,442 -
1985 $510 - $1,069 -
1984 $726 - $1,042 -
1983 $843 - $1,103 -
1982 $843 - $1,101 -
1981 $925 - $1,181 -
1980 $908 - $1,187 -
1979 $714 - $1,292 -
1978 $610 - $1,102 -
1977 $563 - $906 -
1976 $521 - $787 -
1975 $568 - $755 -
1974 $536 - $763 -
1973 $463 - $467 -
1972 $315 - $374 -
1971 $301 - $299.6 -
1970 $254.2 - $271.3 -
1969 $245.2 - $272.7 -
1968 $190.4 - $258.7 -
1967 $182.8 - $304 -
1966 $192.7 - $296 -
1965 $181 - $305 -
1964 $171.6 - $297.3 -
1963 $146.4 - $353 -
1962 $127.1 - $282.3 -
1961 $121.8 - $281.7 -
1960 $101.6 - $238.3 -

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

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $11,991 in Mauritius, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Mauritius ranks 71st at $31,840.

Economic indicators

Eswatini Mauritius
Gross domestic product
$4.86B
2024
$14.9B
2024
GDP rank
162/197
2024
143/197
2024
GDP growth
2.97%
2023-2024
4.93%
2023-2024
GDP per capita
$3,910
2024
$11,991
2024
GDP per capita rank
131/197
2024
78/197
2024
GDP per capita, PPP
$11,799
2024
$31,840
2024
GDP per capita PPP rank
126/197
2024
71/197
2024
Government debt
$1.93B
2024
$13.6B
2024
Debt-to-GDP ratio
39.8%
2024
91.1%
2024
Government debt per person
$1,554
2024
$10,929
2024
Government debt per person rank
130/185
2024
54/185
2024
Average annual personal income after taxes
$3,913
2026
$7,203
2026
Market capitalization of domestic companies
$234M
2007
$9.12B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
42.7%
2016
29.9%
2017
Income share by poorest 10%
1.4%
2016
2.9%
2017
Government expenditure, % of GDP
33.3%
2024
33.7%
2024
Consumer prices inflation
2.6%
2018-2019
3.6%
2023-2024
Central bank interest rate
6.75%
2025
4.5%
2025
Unemployment rate
34.6%
2023
5.21%
2024
Population
1273390
1240121

Spending and national debt comparison by year

Eswatini
Spending

Debt
Mauritius
Spending

Debt
1x
Year % of GDP
Eswatini Mauritius
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 33.7% 91.1%
2023 32% 40% 29.9% 85.6%
2022 29.6% 40.5% 29.4% 86.9%
2021 30.1% 38.4% 30.8% 93.8%
2020 32.7% 38.2% 32.6% 93.4%
2019 32.9% 30.7% 27.8% 74.6%
2018 32.2% 27% 24.3% 64.1%
2017 33.9% 21.9% 24.3% 63%
2016 34.7% 20.5% 24% 64.3%
2015 35.3% 16.4% 24.5% 65%
2014 33.3% 14.3% 23% 60.6%
2013 29.4% 15.5% 24.1% 58.2%
2012 27.8% 15.2% 22.5% 55.9%
2011 26% 15.1% 23.7% 56.5%
2010 31.6% 14.5% 24% 56.4%
2009 34.5% 10.8% 25.2% 58.4%
2008 34.4% 15% 22.7% 49.4%
2007 31.2% 16.6% 21.5% 51.6%
2006 28.2% 15% 22.2% 59.3%
2005 29.7% 13.9% 23% 61.7%
2004 32% 15.5% 22.6% 61.1%
2003 26.4% 18% 23.4% 70.8%
2002 27.2% 17.6% 23.3% 66.7%
2001 26.4% 22.4% 22.4% 60.5%
2000 25.3% 18.7% 22.2% 59.7%
1999 26.5% 17.2% 27.5% -
1998 22.5% 15.9% 26.6% -
1997 21.2% 13% 27.5% -
1996 23.3% 12% 27.4% -
1995 20.5% 12.9% 27.3% -
1994 24.7% 13.8% 27.5% -
1993 24% 15.6% 24.5% -
1992 26% 16.6% 26.8% -
1991 20.3% 20.1% 27.2% -
1990 18.7% 20.4% 30.2% -
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/mauritius | CC BY

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Mauritius spent $5.03B, or 33.7% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 91.1% in Mauritius, ranking 134/185 and 30/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Mauritius
1x
Year Deficit/surplus, % of GDP
Eswatini Mauritius
2024 -1.36% -7.47%
2023 -0.67% -4.7%
2022 -5.4% -3.34%
2021 -4.68% -4.45%
2020 -4.27% -10.6%
2019 -6.26% -7.53%
2018 -6.72% -2.19%
2017 -5.68% -1.66%
2016 -8.54% -2.81%
2015 -6.03% -3.59%
2014 -1.18% -3.13%
2013 0.59% -3.4%
2012 3.48% -1.78%
2011 -4.02% -3.09%
2010 -9.52% -3.07%
2009 -3.06% -3.41%
2008 1.63% -2.66%
2007 2.44% -3.09%
2006 8.88% -4.14%
2005 -1.7% -4.44%
2004 -4.1% -4.34%
2003 -2.15% -4.82%
2002 -3.78% -5.18%
2001 -2.31% -5.53%
2000 -1.22% -4.4%
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/mauritius | 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 Mauritius' deficit of $1.12B, or 7.47% of GDP.

Over the past 25 years, Eswatini recorded a fiscal deficit in 20 of those years, while Mauritius ran a deficit in 25 years. On average, Eswatini posted an annual deficit equal to 2.63% of GDP, compared to deficit of 4.19% of GDP for Mauritius.

Inflation comparison by year

Inflation
Eswatini

Mauritius
1x
Year Consumer prices inflation
Eswatini Mauritius
2024 - 3.6%
2023 - 7.05%
2022 - 10.8%
2021 - 4.03%
2020 - 2.58%
2019 2.6% 0.41%
2018 4.82% 3.22%
2017 6.22% 3.67%
2016 7.85% 0.98%
2015 4.95% 1.29%
2014 5.68% 3.22%
2013 5.62% 3.54%
2012 8.94% 3.85%
2011 6.11% 6.52%
2010 4.51% 2.93%
2009 7.45% 2.52%
2008 12.7% 9.73%
2007 8.08% 8.83%
2006 5.3% 8.91%
2005 4.77% 4.94%
2004 3.45% 4.71%
2003 7.29% 3.92%
2002 12% 6.42%
2001 5.94% 5.39%
2000 12.2% 4.2%
1999 6.09% 6.91%
1998 8.11% 6.81%
1997 7.13% 6.83%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 4.77% in Mauritius. In 2019, inflation was 2.6% in Eswatini and 3.6% in Mauritius.

Top exports between countries

Eswatini
Export category Export value
Chemicals & pharma $12.2M
Miscellaneous $507K
Processed food, beverages & tobacco $391K
Machinery & equipment $39K
Raw agricultural goods $32K
Raw materials & minerals $11K
Metals $3K
Wood & paper products $2K
Textiles & consumer goods $1K
Mauritius
Export category Export value
Textiles & consumer goods $3.34M
Machinery & equipment $41K
Chemicals & pharma $7K

Balance of trade

Eswatini Mauritius
Current account balance
$78.3M
2024
-$1.05B
2024
Current account balance ranking
69/190
2024
126/190
2024
Current account balance, % of GDP
+1.61%
2024
-7.03%
2024
Goods imports
$2.07B
2024
$6.35B
2024
Goods exports
$2.33B
2024
$2.37B
2024
Service imports
$542M
2024
$2.28B
2024
Service exports
$234M
2024
$4.19B
2024
Imports of goods and services, % of GDP
53.7%
2024
78.3%
2024
Exports of goods and services, % of GDP
53.8%
2024
67.1%
2024

Economic freedom indices

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

Eswatini Mauritius
Economic freedom 57.5 73
Economic freedom ranking 116/197 26/197
Property rights 42.5 83.9
Government integrity 29.7 53.4
Judicial effectiveness 35.5 80.7
Tax burden 78.6 89.6
Government spending 71 73.8
Fiscal health 87.5 45.5
Business freedom 49.9 81.5
Labor freedom 55.2 69.6
Monetary freedom 76.8 70.7
Trade freedom 73.6 87
Investment freedom 50 70
Financial freedom 40 70

Economic freedom comparison by year

Eswatini
Mauritius
1x
Year Economic freedom index
Eswatini Mauritius
2026 57.5 73
2025 56.4 75
2024 55.6 71.5
2023 54.9 70.6
2022 51.4 70.9
2021 55.1 77
2020 55.3 74.9
2019 54.7 73
2018 55.9 75.1
2017 61.1 74.7
2016 59.7 74.7
2015 59.9 76.4
2014 61.2 76.5
2013 57.2 76.9
2012 57.2 77
2011 59.1 76.2
2010 57.4 76.3
2009 59.1 74.3
2008 58.4 72.6
2007 60.1 69.4
2006 61.4 67.4
2005 59.4 67.2
2004 58.6 64.3
2003 59.6 64.4
2002 60.9 67.7
2001 63.6 66.4
2000 62.6 67.2
1999 62.1 68.5
1998 62 -
1997 59.4 -
1996 58.6 -
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 73 for Mauritius, ranking 26/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Mauritius
Services, % of GDP
51.4%
2024
64.4%
2024
Industry, % of GDP
34.7%
2024
17.8%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
4.23%
2024
GNI, Atlas method
$4.46B
2024
$16.2B
2024
GNI per capita, PPP
$10,760
2024
$35,100
2024
Total reserves including gold
$479M
2023
$8.51B
2024
Total reserves ranking
159/177
2023
83/177
2024
Net foreign direct investment
-$11.8M
2024
$963M
2024
Net inflows of foreign direct investment
$75.5M
2024
$681M
2024
Net outflows of foreign direct investment
$63.8M
2024
$38.3M
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
10.1%
2024
Poverty at national poverty lines
58.9%
2016
8.4%
2023
Gross capital formation, % of GDP
15%
2024
21.2%
2024

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/mauritius | 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 (2022–2024, 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.