Skip to content

Economy of Eswatini vs Papua New Guinea compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $31.8B for Papua New Guinea, ranking 162/197 and 110/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $16.6B (52.1% of GDP) in Papua New Guinea.

Eswatini vs Papua New Guinea GDP by year

Eswatini
Papua New Guinea
1x
Year GDP, current $
Eswatini Papua New Guinea
2024 $4,858,885,841 $31,800,428,266
2023 $4,621,191,262 $30,816,367,067
2022 $4,746,660,274 $31,653,185,953
2021 $4,807,069,277 $26,109,413,521
2020 $4,134,677,810 $23,848,447,850
2019 $4,617,018,959 $24,750,626,030
2018 $4,643,751,059 $24,109,780,708
2017 $4,462,640,651 $22,742,699,138
2016 $3,722,306,117 $20,758,876,953
2015 $3,908,217,914 $21,723,437,010
2014 $4,285,065,665 $23,210,823,987
2013 $4,463,396,204 $21,261,338,065
2012 $4,747,813,067 $21,295,168,666
2011 $4,722,912,047 $17,985,138,066
2010 $4,360,714,359 $14,250,786,675
2009 $3,525,213,502 $11,619,456,449
2008 $3,235,921,171 $11,670,892,801
2007 $3,391,122,887 $9,545,028,944
2006 $3,215,307,901 $8,354,911,041
2005 $3,097,946,371 $4,865,892,972
2004 $2,710,331,785 $3,927,157,867
2003 $2,149,632,433 $3,536,411,824
2002 $1,393,945,031 $2,999,511,040
2001 $1,502,870,486 $3,081,024,212
2000 $1,697,161,558 $3,521,339,699
1999 $1,547,888,496 $3,477,038,204
1998 $1,576,908,856 $3,789,443,015
1997 $1,716,714,070 $4,936,615,299
1996 $1,602,741,834 $5,155,311,077
1995 $1,698,989,464 $4,636,057,476
1994 $1,419,294,254 $5,502,786,070
1993 $1,357,189,552 $4,974,550,286
1992 $1,284,759,928 $4,377,980,510
1991 $1,156,135,718 $3,787,394,958
1990 $1,114,694,041 $3,219,729,083
1989 $696,921,542 $3,546,472,566
1988 $692,026,455 $3,656,177,881
1987 $584,126,092 $3,143,851,794
1986 $449,140,318 $2,647,995,602
1985 $360,079,419 $2,423,339,172
1984 $494,483,409 $2,552,662,617
1983 $555,336,146 $2,562,351,551
1982 $537,568,059 $2,368,719,683
1981 $570,774,825 $2,498,190,847
1980 $541,976,853 $2,545,808,456
1979 $412,093,134 $2,293,760,511
1978 $340,630,085 $1,947,878,831
1977 $304,060,076 $1,640,746,619
1976 $272,550,068 $1,511,843,235
1975 $288,299,789 $1,356,603,608
1974 $264,320,941 $1,467,417,672
1973 $221,915,128 $1,299,079,410
1972 $146,736,479 $858,761,926
1971 $136,462,081 $717,750,278
1970 $112,139,955 $645,568,215
1969 $105,419,958 $551,263,864
1968 $79,799,968 $485,184,190
1967 $74,759,970 $441,728,183
1966 $76,859,969 $390,992,063
1965 $70,279,972 $344,176,055
1964 $64,980,554 $305,312,049
1963 $54,129,438 $275,968,044
1962 $45,927,962 $261,184,042
1961 $43,026,043 $244,832,039
1960 $35,076,846 $230,496,037

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

GeoRank.org/economy/eswatini/papua-new-guinea | CC BY

GDP per capita in Eswatini vs Papua New Guinea by year

Eswatini
GDP per capita

GDP per capita, PPP
Papua New Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Papua New Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $3,007 $4,875
2023 $3,756 $11,300 $2,966 $4,668
2022 $3,894 $10,635 $3,102 $4,420
2021 $3,984 $9,990 $2,608 $3,977
2020 $3,467 $9,329 $2,430 $3,900
2019 $3,913 $9,248 $2,576 $4,060
2018 $3,973 $8,535 $2,566 $3,910
2017 $3,853 $8,584 $2,478 $3,923
2016 $3,238 $8,484 $2,316 $3,813
2015 $3,420 $8,391 $2,485 $3,670
2014 $3,771 $8,366 $2,723 $3,500
2013 $3,950 $8,231 $2,561 $3,110
2012 $4,225 $7,760 $2,635 $3,026
2011 $4,225 $7,571 $2,288 $2,919
2010 $3,923 $7,324 $1,867 $2,912
2009 $3,190 $7,011 $1,569 $2,692
2008 $2,947 $6,914 $1,625 $2,583
2007 $3,109 $6,732 $1,371 $2,622
2006 $2,965 $6,319 $1,238 $2,444
2005 $2,871 $5,773 $744 $2,322
2004 $2,526 $5,310 $621 $2,187
2003 $2,015 $5,020 $577 $2,142
2002 $1,316 $4,742 $506 $2,125
2001 $1,430 $4,521 $538 $2,168
2000 $1,630 $4,401 $636 $2,196
1999 $1,502 $4,272 $650 $2,280
1998 $1,547 $4,137 $733 $2,285
1997 $1,705 $4,038 $990 $2,432
1996 $1,619 $3,916 $1,071 $2,578
1995 $1,751 $3,777 $998 $2,436
1994 $1,461 $3,526 $1,228 $2,558
1993 $1,397 $3,371 $1,151 $2,451
1992 $1,362 $3,289 $1,051 $2,100
1991 $1,273 $3,236 $942 $1,869
1990 $1,278 $3,202 $826 $1,703
1989 $832 - $934 -
1988 $865 - $985 -
1987 $765 - $865 -
1986 $611 - $745 -
1985 $510 - $697 -
1984 $726 - $750 -
1983 $843 - $769 -
1982 $843 - $726 -
1981 $925 - $781 -
1980 $908 - $813 -
1979 $714 - $748 -
1978 $610 - $648 -
1977 $563 - $558 -
1976 $521 - $525 -
1975 $568 - $482 -
1974 $536 - $533 -
1973 $463 - $483 -
1972 $315 - $327 -
1971 $301 - $279.7 -
1970 $254.2 - $257.6 -
1969 $245.2 - $225.3 -
1968 $190.4 - $202.9 -
1967 $182.8 - $189 -
1966 $192.7 - $171.1 -
1965 $181 - $153.9 -
1964 $171.6 - $139.5 -
1963 $146.4 - $128.9 -
1962 $127.1 - $124.7 -
1961 $121.8 - $119.7 -
1960 $101.6 - $115.5 -

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

GeoRank.org/economy/eswatini/papua-new-guinea | CC BY

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $3,007 in Papua New Guinea, ranking 140/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Papua New Guinea ranks 159th at $4,875.

Economic indicators

Eswatini Papua New Guinea
Gross domestic product
$4.86B
2024
$31.8B
2024
GDP rank
162/197
2024
110/197
2024
GDP growth
2.97%
2023-2024
3.8%
2023-2024
GDP per capita
$3,910
2024
$3,007
2024
GDP per capita rank
131/197
2024
140/197
2024
GDP per capita, PPP
$11,799
2024
$4,875
2024
GDP per capita PPP rank
126/197
2024
159/197
2024
Government debt
$1.93B
2024
$16.6B
2024
Debt-to-GDP ratio
39.8%
2024
52.1%
2024
Government debt per person
$1,554
2024
$1,566
2024
Government debt per person rank
130/185
2024
129/185
2024
Average annual personal income after taxes
$3,913
2026
$2,362
2026
Market capitalization of domestic companies
$234M
2007
$1.68B
2017
Number of billionaires
1
2025
n/a
Income share by richest 10%
42.7%
2016
31%
2009
Income share by poorest 10%
1.4%
2016
1.9%
2009
Government expenditure, % of GDP
33.3%
2024
20.4%
2024
Consumer prices inflation
2.6%
2018-2019
0.6%
2023-2024
Central bank interest rate
6.75%
2025
5%
2025
Unemployment rate
34.6%
2023
2.69%
2022
Population
1273390
11002753

Spending and national debt comparison by year

Eswatini
Spending

Debt
Papua New Guinea
Spending

Debt
1x
Year % of GDP
Eswatini Papua New Guinea
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 20.4% 52.1%
2023 32% 40% 22.3% 53.9%
2022 29.6% 40.5% 21.9% 48.2%
2021 30.1% 38.4% 22% 52.6%
2020 32.7% 38.2% 23.5% 48.7%
2019 32.9% 30.7% 21.3% 38.2%
2018 32.2% 27% 20.3% 36.7%
2017 33.9% 21.9% 18.4% 32.5%
2016 34.7% 20.5% 20.9% 33.7%
2015 35.3% 16.4% 22.8% 29.9%
2014 33.3% 14.3% 27.1% 26.9%
2013 29.4% 15.5% 27.6% 24.9%
2012 27.8% 15.2% 22.4% 19.1%
2011 26% 15.1% 19.7% 16.3%
2010 31.6% 14.5% 18.4% 17.3%
2009 34.5% 10.8% 24.7% 21.7%
2008 34.4% 15% 19.8% 21.6%
2007 31.2% 16.6% 18% 22.2%
2006 28.2% 15% 19.4% 26%
2005 29.7% 13.9% 20.6% 31.6%
2004 32% 15.5% 19.4% 37.2%
2003 26.4% 18% 18.7% 40.4%
2002 27.2% 17.6% 20.8% 48.4%
2001 26.4% 22.4% 21.6% 47.7%
2000 25.3% 18.7% 20.5% 42.3%
1999 26.5% 17.2% 21.4% 41.8%
1998 22.5% 15.9% 20% 45.7%
1997 21.2% 13% 20.6% 43.9%
1996 23.3% 12% 17.6% 37.8%
1995 20.5% 12.9% 17.1% 36.6%
1994 24.7% 13.8% 19.3% 40.1%
1993 24% 15.6% 23.5% 30%
1992 26% 16.6% 22.8% 30.4%
1991 20.3% 20.1% 22.4% -
1990 18.7% 20.4% 24.5% -
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 (1980–1993, retrieved 2026-02-20).

GeoRank.org/economy/eswatini/papua-new-guinea | CC BY

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Papua New Guinea spent $6.48B, or 20.4% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 52.1% in Papua New Guinea, ranking 134/185 and 100/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Papua New Guinea
1x
Year Deficit/surplus, % of GDP
Eswatini Papua New Guinea
2024 -1.36% -3.23%
2023 -0.67% -4.34%
2022 -5.4% -5.25%
2021 -4.68% -6.84%
2020 -4.27% -8.85%
2019 -6.26% -4.98%
2018 -6.72% -2.58%
2017 -5.68% -2.47%
2016 -8.54% -4.75%
2015 -6.03% -4.55%
2014 -1.18% -6.27%
2013 0.59% -6.87%
2012 3.48% -1.19%
2011 -4.02% 2.22%
2010 -9.52% 3.06%
2009 -3.06% -5.48%
2008 1.63% 2.73%
2007 2.44% 6.9%
2006 8.88% 5.34%
2005 -1.7% 2.85%
2004 -4.1% 2.03%
2003 -2.15% 0.19%
2002 -3.78% -1.75%
2001 -2.31% -1.33%
2000 -1.22% 0.3%
1999 -1.27% -1.94%
1998 1.07% -0.16%
1997 2.11% 0.67%
1996 -1% 2.05%
1995 0.9% 1.08%
1994 -3.61% -1.01%
1993 -3.29% -4.9%
1992 -2.9% -4.33%
1991 3.4% -0.62%
1990 5.61% -2.04%
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/papua-new-guinea | 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 Papua New Guinea's deficit of $1.03B, or 3.23% of GDP.

Over the past 35 years, Eswatini recorded a fiscal deficit in 25 of those years, while Papua New Guinea ran a deficit in 23 years. On average, Eswatini posted an annual deficit equal to 1.85% of GDP, compared to deficit of 1.61% of GDP for Papua New Guinea.

Inflation comparison by year

Inflation
Eswatini

Papua New Guinea
1x
Year Consumer prices inflation
Eswatini Papua New Guinea
2024 - 0.6%
2023 - 2.3%
2022 - 5.25%
2021 - 4.48%
2020 - 4.87%
2019 2.6% 3.93%
2018 4.82% 4.37%
2017 6.22% 5.42%
2016 7.85% 6.67%
2015 4.95% 6%
2014 5.68% 5.22%
2013 5.62% 4.96%
2012 8.94% 4.54%
2011 6.11% 4.44%
2010 4.51% 6.01%
2009 7.45% 6.92%
2008 12.7% 10.8%
2007 8.08% 0.91%
2006 5.3% 2.37%
2005 4.77% 1.78%
2004 3.45% 2.16%
2003 7.29% 14.7%
2002 12% 11.8%
2001 5.94% 9.3%
2000 12.2% 15.6%
1999 6.09% 14.9%
1998 8.11% 13.6%
1997 7.13% 3.96%

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

GeoRank.org/economy/eswatini/papua-new-guinea | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 6.97% in Papua New Guinea. In 2019, inflation was 2.6% in Eswatini and 0.6% in Papua New Guinea.

Top exports between countries

Eswatini
Export category Export value
Papua New Guinea
Export category Export value
Processed food, beverages & tobacco $3.38M
Miscellaneous $51K
Machinery & equipment $6K

Balance of trade

Eswatini Papua New Guinea
Current account balance
$78.3M
2024
$4.77B
2024
Current account balance ranking
69/190
2024
33/190
2024
Current account balance, % of GDP
+1.61%
2024
+15%
2024
Goods imports
$2.07B
2024
$4.69B
2024
Goods exports
$2.33B
2024
$13.4B
2024
Service imports
$542M
2024
$2.4B
2024
Service exports
$234M
2024
$75.2M
2024
Imports of goods and services, % of GDP
53.7%
2024
58.9%
2004
Exports of goods and services, % of GDP
53.8%
2024
72.2%
2004

Economic freedom indices

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

Eswatini Papua New Guinea
Economic freedom 57.5 54.3
Economic freedom ranking 116/197 134/197
Property rights 42.5 45
Government integrity 29.7 30.8
Judicial effectiveness 35.5 41.1
Tax burden 78.6 70.9
Government spending 71 86.1
Fiscal health 87.5 65.3
Business freedom 49.9 34.2
Labor freedom 55.2 65.1
Monetary freedom 76.8 77.4
Trade freedom 73.6 80.2
Investment freedom 50 25
Financial freedom 40 30

Economic freedom comparison by year

Eswatini
Papua New Guinea
1x
Year Economic freedom index
Eswatini Papua New Guinea
2026 57.5 54.3
2025 56.4 52.5
2024 55.6 49.4
2023 54.9 51.7
2022 51.4 54.6
2021 55.1 58.9
2020 55.3 58.4
2019 54.7 58.4
2018 55.9 55.7
2017 61.1 50.9
2016 59.7 53.2
2015 59.9 53.1
2014 61.2 53.9
2013 57.2 53.6
2012 57.2 53.8
2011 59.1 52.6
2010 57.4 53.5
2009 59.1 54.8
2008 58.4 -
2007 60.1 -
2006 61.4 -
2005 59.4 -
2004 58.6 -
2003 59.6 -
2002 60.9 -
2001 63.6 57.2
2000 62.6 55.8
1999 62.1 56.3
1998 62 55.2
1997 59.4 56.7
1996 58.6 58.6
1995 63.3 -

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

GeoRank.org/economy/eswatini/papua-new-guinea | CC BY

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 54.3 for Papua New Guinea, ranking 134/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Papua New Guinea
Services, % of GDP
51.4%
2024
41.5%
2024
Industry, % of GDP
34.7%
2024
37.2%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
17.2%
2024
GNI, Atlas method
$4.46B
2024
$30.7B
2024
GNI per capita, PPP
$10,760
2024
$4,580
2024
Total reserves including gold
$479M
2023
$3.9B
2023
Total reserves ranking
159/177
2023
107/177
2023
Net foreign direct investment
-$11.8M
2024
$968M
2024
Net inflows of foreign direct investment
$75.5M
2024
-$198M
2024
Net outflows of foreign direct investment
$63.8M
2024
$770M
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
19.7%
2024
Poverty at national poverty lines
58.9%
2016
39.9%
2009
Gross capital formation, % of GDP
15%
2024
20%
2004

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/papua-new-guinea | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (1980–1993, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2023, 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.