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Economy of Eswatini vs Monaco compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $11.1B for Monaco, ranking 162/197 and 152/197 by economy size, respectively.

Eswatini vs Monaco GDP by year

Eswatini
Monaco
1x
Year GDP, current $
Eswatini Monaco
2024 $4,858,885,841 $11,125,783,372
2023 $4,621,191,262 $10,003,892,565
2022 $4,746,660,274 $8,800,430,486
2021 $4,807,069,277 $8,623,242,743
2020 $4,134,677,810 $6,730,736,283
2019 $4,617,018,959 $7,383,496,254
2018 $4,643,751,059 $7,184,333,936
2017 $4,462,640,651 $6,430,254,653
2016 $3,722,306,117 $6,471,290,794
2015 $3,908,217,914 $6,264,756,528
2014 $4,285,065,665 $7,070,017,324
2013 $4,463,396,204 $6,555,591,710
2012 $4,747,813,067 $5,742,749,294
2011 $4,722,912,047 $6,088,689,808
2010 $4,360,714,359 $5,367,561,570
2009 $3,525,213,502 $5,474,379,252
2008 $3,235,921,171 $6,502,942,245
2007 $3,391,122,887 $5,875,790,766
2006 $3,215,307,901 $4,586,826,513
2005 $3,097,946,371 $4,204,652,899
2004 $2,710,331,785 $4,043,551,489
2003 $2,149,632,433 $3,597,089,751
2002 $1,393,945,031 $2,919,647,982
2001 $1,502,870,486 $2,673,723,034
2000 $1,697,161,558 $2,654,462,665
1999 $1,547,888,496 $2,907,118,641
1998 $1,576,908,856 $2,934,593,468
1997 $1,716,714,070 $2,840,195,190
1996 $1,602,741,834 $3,137,886,995
1995 $1,698,989,464 $3,130,309,995
1994 $1,419,294,254 $2,720,332,135
1993 $1,357,189,552 $2,574,494,356
1992 $1,284,759,928 $2,737,049,231
1991 $1,156,135,718 $2,480,540,845
1990 $1,114,694,041 $2,481,307,077
1989 $696,921,542 $2,010,083,833
1988 $692,026,455 $2,000,704,745
1987 $584,126,092 $1,839,081,463
1986 $449,140,318 $1,515,234,743
1985 $360,079,419 $1,082,867,507
1984 $494,483,409 $1,037,329,604
1983 $555,336,146 $1,092,560,365
1982 $537,568,059 $1,143,216,457
1981 $570,774,825 $1,205,188,648
1980 $541,976,853 $1,378,175,524
1979 $412,093,134 $1,209,870,147
1978 $340,630,085 $1,000,555,218
1977 $304,060,076 $811,191,392
1976 $272,550,068 $735,324,245
1975 $288,299,789 $711,978,962
1974 $264,320,941 $563,949,254
1973 $221,915,128 $523,554,039
1972 $146,736,479 $402,451,901
1971 $136,462,081 $327,706,210
1970 $112,139,955 $293,127,333
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/monaco | CC BY

GDP per capita in Eswatini vs Monaco by year

Eswatini
GDP per capita

GDP per capita, PPP
Monaco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Monaco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $288,001 -
2023 $3,756 $11,300 $256,800 -
2022 $3,894 $10,635 $226,052 -
2021 $3,984 $9,990 $223,823 -
2020 $3,467 $9,329 $176,892 -
2019 $3,913 $9,248 $193,747 -
2018 $3,973 $8,535 $188,298 -
2017 $3,853 $8,584 $170,663 -
2016 $3,238 $8,484 $173,605 -
2015 $3,420 $8,391 $170,437 $115,700
2014 $3,771 $8,366 $195,694 -
2013 $3,950 $8,231 $184,941 $78,700
2012 $4,225 $7,760 $165,445 -
2011 $4,225 $7,571 $179,364 $85,500
2010 $3,923 $7,324 $161,854 -
2009 $3,190 $7,011 $169,150 $63,400
2008 $2,947 $6,914 $204,264 -
2007 $3,109 $6,732 $184,559 -
2006 $2,965 $6,319 $143,083 $30,000
2005 $2,871 $5,773 $130,539 -
2004 $2,526 $5,310 $125,160 -
2003 $2,015 $5,020 $111,110 -
2002 $1,316 $4,742 $90,051 -
2001 $1,430 $4,521 $82,403 -
2000 $1,630 $4,401 $81,789 $27,000
1999 $1,502 $4,272 $89,698 $27,000
1998 $1,547 $4,137 $90,947 -
1997 $1,705 $4,038 $88,582 -
1996 $1,619 $3,916 $98,561 -
1995 $1,751 $3,777 $99,032 -
1994 $1,461 $3,526 $86,704 -
1993 $1,397 $3,371 $82,685 -
1992 $1,362 $3,289 $88,615 -
1991 $1,273 $3,236 $80,997 -
1990 $1,278 $3,202 $81,735 -
1989 $832 - $66,816 -
1988 $865 - $67,181 -
1987 $765 - $62,456 -
1986 $611 - $52,082 -
1985 $510 - $37,690 -
1984 $726 - $36,582 -
1983 $843 - $39,076 -
1982 $843 - $41,479 -
1981 $925 - $44,157 -
1980 $908 - $50,814 -
1979 $714 - $44,990 -
1978 $610 - $37,608 -
1977 $563 - $30,875 -
1976 $521 - $28,396 -
1975 $568 - $27,921 -
1974 $536 - $22,348 -
1973 $463 - $20,882 -
1972 $315 - $16,187 -
1971 $301 - $13,334 -
1970 $254.2 - $12,098 -
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); Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20).

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $288,001 in Monaco, ranking 1/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Monaco ranks 6th at $115,700.

Economic indicators

Eswatini Monaco
Gross domestic product
$4.86B
2024
$11.1B
2024
GDP rank
162/197
2024
152/197
2024
GDP growth
2.97%
2023-2024
8.51%
2023-2024
GDP per capita
$3,910
2024
$288,001
2024
GDP per capita rank
131/197
2024
1/197
2024
GDP per capita, PPP
$11,799
2024
$115,700
2015
GDP per capita PPP rank
126/197
2024
6/197
2015
Government debt
$1.93B
2024
n/a
Debt-to-GDP ratio
39.8%
2024
n/a
Government debt per person
$1,554
2024
n/a
Government debt per person rank
130/185
2024
n/a
Average annual personal income after taxes
$3,913
2026
$97,068
2026
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2025
2
2025
Income share by richest 10%
42.7%
2016
n/a
Income share by poorest 10%
1.4%
2016
n/a
Government expenditure, % of GDP
33.3%
2024
20%
2025
Consumer prices inflation
2.6%
2018-2019
1.5%
2019-2020
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.6%
2023
6.33%
2016
Population
1273390
38053

Inflation comparison by year

Inflation
Eswatini

Monaco
1x
Year Consumer prices inflation
Eswatini Monaco
2020 - 1.5%
2019 2.6% 1.5%
2018 4.82% 1.5%
2017 6.22% -
2016 7.85% -
2015 4.95% -
2014 5.68% -
2013 5.62% -
2012 8.94% -
2011 6.11% -
2010 4.51% 1.5%
2009 7.45% -
2008 12.7% -
2007 8.08% -
2006 5.3% -
2005 4.77% -
2004 3.45% -
2003 7.29% -
2002 12% -
2001 5.94% -
2000 12.2% 1.9%
1999 6.09% -
1998 8.11% -
1997 7.13% -

Data sources: World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06); Central Intelligence Agency (CIA) (2000–2020, retrieved 2026-02-20).

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

Over the past 20 years, Eswatini has recorded an average annual inflation rate of 6.82%, compared with 1.6% in Monaco. In 2019, inflation was 2.6% in Eswatini and 1.5% in Monaco.

Balance of trade

Eswatini Monaco
Current account balance
$78.3M
2024
n/a
Current account balance ranking
69/190
2024
n/a
Current account balance, % of GDP
+1.61%
2024
n/a
Goods imports
$2.07B
2024
n/a
Goods exports
$2.33B
2024
n/a
Service imports
$542M
2024
n/a
Service exports
$234M
2024
n/a
Imports of goods and services, % of GDP
53.7%
2024
n/a
Exports of goods and services, % of GDP
53.8%
2024
n/a

Economic freedom indices

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

Eswatini Monaco
Economic freedom 57.5 83
Economic freedom ranking 116/197 4/197
Property rights 42.5 n/a
Government integrity 29.7 n/a
Judicial effectiveness 35.5 n/a
Tax burden 78.6 n/a
Government spending 71 n/a
Fiscal health 87.5 n/a
Business freedom 49.9 n/a
Labor freedom 55.2 n/a
Monetary freedom 76.8 n/a
Trade freedom 73.6 n/a
Investment freedom 50 n/a
Financial freedom 40 n/a

Other economic metrics

Eswatini Monaco
Services, % of GDP
51.4%
2024
87.2%
2024
Industry, % of GDP
34.7%
2024
12.8%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
n/a
GNI, Atlas method
$4.46B
2024
n/a
GNI per capita, PPP
$10,760
2024
n/a
Total reserves including gold
$479M
2023
n/a
Total reserves ranking
159/177
2023
n/a
Net foreign direct investment
-$11.8M
2024
n/a
Net inflows of foreign direct investment
$75.5M
2024
n/a
Net outflows of foreign direct investment
$63.8M
2024
n/a
Servicing debt to the IMF, % of GNI
4.68%
2024
n/a
Poverty at national poverty lines
58.9%
2016
n/a
Gross capital formation, % of GDP
15%
2024
n/a

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/monaco | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.