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Economy of Eswatini vs Moldova compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $20.4B for Moldova, ranking 163/197 and 133/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $7.45B (36.6% of GDP) in Moldova.

Eswatini vs Moldova GDP by year

Eswatini
Moldova
1x
Year GDP, current $
Eswatini Moldova
2025 $5,160,679,613 $20,351,796,275
2024 $4,858,885,841 $18,206,842,141
2023 $4,621,191,262 $16,711,906,746
2022 $4,746,660,274 $14,525,337,524
2021 $4,807,069,277 $13,691,869,264
2020 $4,134,677,810 $11,530,746,234
2019 $4,617,018,959 $11,736,797,055
2018 $4,643,751,059 $11,252,353,421
2017 $4,462,640,651 $9,514,404,016
2016 $3,722,306,117 $7,980,917,076
2015 $3,908,217,914 $7,797,667,197
2014 $4,285,065,665 $9,402,090,138
2013 $4,463,396,204 $9,496,717,876
2012 $4,747,813,067 $8,709,138,635
2011 $4,722,912,047 $8,414,352,020
2010 $4,360,714,359 $6,974,982,370
2009 $3,525,213,502 $5,439,434,272
2008 $3,235,921,171 $6,054,824,248
2007 $3,391,122,887 $4,401,173,152
2006 $3,215,307,901 $3,408,255,451
2005 $3,097,946,371 $2,988,342,907
2004 $2,710,331,785 $2,598,249,556
2003 $2,149,632,433 $1,980,907,435
2002 $1,393,945,031 $1,661,818,168
2001 $1,502,870,486 $1,480,673,594
2000 $1,697,161,558 $1,288,429,392
1999 $1,547,888,496 $1,170,782,957
1998 $1,576,908,856 $1,698,717,505
1997 $1,716,714,070 $1,930,081,169
1996 $1,602,741,834 $1,695,122,174
1995 $1,698,989,464 $1,752,999,370
1994 $1,419,294,254 $1,702,314,268
1993 $1,357,189,552 $2,371,813,324
1992 $1,284,759,928 $2,319,243,436
1991 $1,156,135,718 $3,094,565,871
1990 $1,114,694,041 $3,592,857,043
1989 $696,921,542 -
1988 $692,026,455 -
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/moldova | CC BY

GDP per capita in Eswatini vs Moldova by year

Eswatini
GDP per capita

GDP per capita, PPP
Moldova
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Moldova
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $8,622 -
2024 $3,910 $11,799 $7,579 $18,615
2023 $3,756 $11,300 $6,800 $17,747
2022 $3,894 $10,635 $5,744 $16,453
2021 $3,984 $9,990 $5,275 $15,682
2020 $3,467 $9,329 $4,376 $13,527
2019 $3,913 $9,248 $4,405 $13,413
2018 $3,973 $8,535 $4,156 $11,868
2017 $3,853 $8,584 $3,453 $11,252
2016 $3,238 $8,484 $2,847 $10,326
2015 $3,420 $8,391 $2,750 $9,198
2014 $3,771 $8,366 $3,290 $8,643
2013 $3,950 $8,231 $3,321 $8,233
2012 $4,225 $7,760 $3,045 $7,255
2011 $4,225 $7,571 $2,941 $6,833
2010 $3,923 $7,324 $2,437 $6,323
2009 $3,190 $7,011 $1,898 $5,827
2008 $2,947 $6,914 $2,111 $6,153
2007 $3,109 $6,732 $1,531 $5,590
2006 $2,965 $6,319 $1,183 $5,271
2005 $2,871 $5,773 $1,034 $4,866
2004 $2,526 $5,310 $897 $4,378
2003 $2,015 $5,020 $682 $3,960
2002 $1,316 $4,742 $571 $3,633
2001 $1,430 $4,521 $507 $3,311
2000 $1,630 $4,401 $441 $3,045
1999 $1,502 $4,272 $399 $2,910
1998 $1,547 $4,137 $579 $2,965
1997 $1,705 $4,038 $657 $3,136
1996 $1,619 $3,916 $575 $3,021
1995 $1,751 $3,777 $594 $3,146
1994 $1,461 $3,526 $574 $3,111
1993 $1,397 $3,371 $797 $4,394
1992 $1,362 $3,289 $778 $4,337
1991 $1,273 $3,236 $1,038 $5,980
1990 $1,278 $3,202 $1,207 $6,895
1989 $832 - - -
1988 $865 - - -
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/moldova | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $8,622 in Moldova, ranking 93/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Moldova ranks 100th at $18,615.

Economic indicators

Eswatini Moldova
Gross domestic product
$5.16B
2025
$20.4B
2025
GDP rank
163/197
2025
133/197
2025
GDP growth
4.19%
2024-2025
2.42%
2024-2025
GDP per capita
$4,108
2025
$8,622
2025
GDP per capita rank
131/197
2025
93/197
2025
GDP per capita, PPP
$11,799
2024
$18,615
2024
GDP per capita PPP rank
126/197
2024
100/197
2024
Government debt
$2.31B
2025
$7.45B
2025
Debt-to-GDP ratio
44.9%
2025
36.6%
2025
Government debt per person
$1,843
2025
$3,158
2025
Government debt per person rank
121/185
2025
103/185
2025
Average annual personal income after taxes
$4,770
2026
$4,301
2026
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
22.8%
2023
Income share by poorest 10%
1.4%
2016
4.3%
2023
Government expenditure, % of GDP
35.7%
2025
39.4%
2025
Consumer prices inflation
2.6%
2018-2019
7.76%
2024-2025
Central bank interest rate
6.75%
2025
6.5%
2026
Unemployment rate
34.3%
2023
1.28%
2025
Population
1276995
2328600

Spending and national debt comparison by year

Eswatini
Spending

Debt
Moldova
Spending

Debt
1x
Year % of GDP
Eswatini Moldova
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 39.4% 36.6%
2024 33.6% 40.1% 38% 38.8%
2023 31.5% 39.4% 38.8% 34.9%
2022 28.9% 39.5% 36.6% 35%
2021 29.3% 37.3% 34.6% 33.6%
2020 32.2% 37.7% 36.7% 36.6%
2019 32.8% 30.5% 32% 28.8%
2018 31.6% 26.5% 31.5% 31.8%
2017 33.6% 21.7% 31% 34.9%
2016 34% 20.1% 30.5% 39.7%
2015 34.5% 16% 31.7% 42.1%
2014 32.7% 14.1% 33.8% 35.4%
2013 28.8% 15.2% 32.4% 30%
2012 27.1% 14.8% 33.7% 31.3%
2011 25.1% 14.6% 32.6% 24.2%
2010 31.1% 14.2% 34.1% 25.5%
2009 33.9% 10.6% 45.3% 32.6%
2008 33.4% 14.6% 41.5% 22.2%
2007 30.4% 16.1% 42.7% 28.3%
2006 27.6% 14.7% 40.3% 35%
2005 29% 13.6% 37.1% 40.4%
2004 31% 15% 34.8% 49.3%
2003 25.9% 17.7% 33.5% 68.1%
2002 26.5% 17.2% 30.7% 80.3%
2001 25.6% 21.7% 29.5% 85.4%
2000 24.7% 18.2% 34% 89.1%
1999 25.8% 16.7% 33% 150.7%
1998 22% 15.6% 39.1% 159.4%
1997 20.7% 12.7% 46% 89%
1996 22.5% 11.5% 43.3% 87.5%
1995 19.9% 12.5% 42% 79.5%
1994 23.4% 13.1% - -
1993 23% 15% - -
1992 24.7% 16.6% - -
1991 19.6% 20.1% - -
1990 18.2% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1992, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Moldova spent $8.02B, or 39.4% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 36.6% in Moldova, ranking 118/185 and 140/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Moldova
1x
Year Deficit/surplus, % of GDP
Eswatini Moldova
2025 -6.14% -3.87%
2024 -1.06% -4.02%
2023 -0.66% -5.13%
2022 -5.27% -3.24%
2021 -4.55% -2.62%
2020 -4.21% -5.32%
2019 -6.23% -1.47%
2018 -6.59% -0.85%
2017 -5.64% -0.65%
2016 -8.36% -1.56%
2015 -5.89% -1.93%
2014 -1.16% -1.6%
2013 0.57% -1.57%
2012 3.39% -1.93%
2011 -3.88% -2.05%
2010 -9.34% -2.18%
2009 -3% -6.38%
2008 1.58% -0.87%
2007 2.37% 0.15%
2006 8.67% -0.42%
2005 -1.66% 1.44%
2004 -3.97% 0.59%
2003 -2.11% 0.47%
2002 -3.69% -1.18%
2001 -2.24% -0.34%
2000 -1.19% -3.55%
1999 -1.23% -2.64%
1998 1.05% -1.52%
1997 2.06% -7.47%
1996 -0.97% -7.42%
1995 0.87% -2.58%
1994 -3.43% -
1993 -3.15% -
1992 -2.76% -
1991 3.28% -
1990 5.47% -
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/moldova | 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 Moldova's deficit of $788M, or 3.87% of GDP.

Over the past 31 years, Eswatini recorded a fiscal deficit in 23 of those years, while Moldova ran a deficit in 27 years. On average, Eswatini posted an annual deficit equal to 2.21% of GDP, compared to deficit of 2.31% of GDP for Moldova.

Inflation comparison by year

Inflation
Eswatini

Moldova
1x
Year Consumer prices inflation
Eswatini Moldova
2025 - 7.76%
2024 - 4.68%
2023 - 13.4%
2022 - 28.7%
2021 - 5.11%
2020 - 3.77%
2019 2.6% 4.84%
2018 4.82% 3.05%
2017 6.22% 6.57%
2016 7.85% 6.36%
2015 4.95% 9.68%
2014 5.68% 5.09%
2013 5.62% 4.6%
2012 8.94% 4.55%
2011 6.11% 7.69%
2010 4.51% 7.48%
2009 7.45% -0.06%
2008 12.7% 12.8%
2007 8.08% 12.4%
2006 5.3% 12.8%
2005 4.77% 12%
2004 3.45% 12.5%
2003 7.29% 11.7%
2002 12% 5.3%
2001 5.94% 9.76%
2000 12.2% 31.3%
1999 6.09% 39.3%
1998 8.11% 7.7%
1997 7.13% 11.8%

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

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 10.4% in Moldova. In 2019, inflation was 2.6% in Eswatini and 7.76% in Moldova.

Top exports between countries

Eswatini
Export category Export value
Moldova
Export category Export value
Raw agricultural goods $889K
Textiles & consumer goods $2K

Balance of trade

Eswatini Moldova
Current account balance
$78.3M
2024
-$4B
2025
Current account balance ranking
65/190
2024
158/190
2025
Current account balance, % of GDP
+1.61%
2024
-19.6%
2025
Goods imports
$2.07B
2024
$10.1B
2025
Goods exports
$2.33B
2024
$3.23B
2025
Service imports
$542M
2024
$2.17B
2025
Service exports
$234M
2024
$3.22B
2025
Imports of goods and services, % of GDP
53.7%
2024
60.9%
2025
Exports of goods and services, % of GDP
53.8%
2024
31.8%
2025

Economic freedom indices

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

Eswatini Moldova
Economic freedom 57.5 58.1
Economic freedom ranking 116/197 112/197
Property rights 42.5 40.4
Government integrity 29.7 45.1
Judicial effectiveness 35.5 32.4
Tax burden 78.6 87.9
Government spending 71 57.2
Fiscal health 87.5 70.3
Business freedom 49.9 68.3
Labor freedom 55.2 48.1
Monetary freedom 76.8 66
Trade freedom 73.6 76.8
Investment freedom 50 55
Financial freedom 40 50

Economic freedom comparison by year

Eswatini
Moldova
1x
Year Economic freedom index
Eswatini Moldova
2026 57.5 58.1
2025 56.4 58.3
2024 55.6 57.1
2023 54.9 58.5
2022 51.4 61.3
2021 55.1 62.5
2020 55.3 62
2019 54.7 59.1
2018 55.9 58.4
2017 61.1 58
2016 59.7 57.4
2015 59.9 57.5
2014 61.2 57.3
2013 57.2 55.5
2012 57.2 54.4
2011 59.1 55.7
2010 57.4 53.7
2009 59.1 54.9
2008 58.4 57.9
2007 60.1 58.7
2006 61.4 58
2005 59.4 57.4
2004 58.6 57.1
2003 59.6 60
2002 60.9 57.4
2001 63.6 54.9
2000 62.6 59.6
1999 62.1 56.1
1998 62 53.5
1997 59.4 48.9
1996 58.6 52.5
1995 63.3 33

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 58.1 for Moldova, ranking 112/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Moldova
Services, % of GDP
52.4%
2025
61.5%
2025
Industry, % of GDP
33.6%
2025
16.9%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
7.38%
2025
GNI, Atlas method
$4.69B
2025
$19B
2025
GNI per capita, PPP
$11,390
2025
$19,990
2025
Total reserves including gold
$537M
2024
$6.01B
2025
Total reserves ranking
157/177
2024
97/177
2025
Net foreign direct investment
-$11.8M
2024
-$360M
2025
Net inflows of foreign direct investment
$75.5M
2024
$458M
2024
Net outflows of foreign direct investment
$63.8M
2024
$98.4M
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
6.22%
2024
Poverty at national poverty lines
58.9%
2016
31.6%
2023
Gross capital formation, % of GDP
15%
2024
24.2%
2025

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/moldova | 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 (1980–1992, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2024, 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.