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Economy of Eswatini vs Sierra Leone compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $7.46B for Sierra Leone, ranking 163/197 and 160/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $3.38B (45.2% of GDP) in Sierra Leone.

Eswatini vs Sierra Leone GDP by year

Eswatini
Sierra Leone
1x
Year GDP, current $
Eswatini Sierra Leone
2025 $5,160,679,613 $7,464,157,904
2024 $4,858,885,841 $6,971,127,234
2023 $4,621,191,262 $6,415,852,766
2022 $4,746,660,274 $7,121,125,277
2021 $4,807,069,277 $7,166,931,483
2020 $4,134,677,810 $6,688,307,706
2019 $4,617,018,959 $6,523,577,590
2018 $4,643,751,059 $6,390,514,689
2017 $4,462,640,651 $5,749,846,528
2016 $3,722,306,117 $6,084,297,211
2015 $3,908,217,914 $6,788,352,975
2014 $4,285,065,665 $7,686,138,791
2013 $4,463,396,204 $7,502,762,863
2012 $4,747,813,067 $6,141,666,509
2011 $4,722,912,047 $4,861,632,885
2010 $4,360,714,359 $4,262,805,967
2009 $3,525,213,502 $3,953,403,098
2008 $3,235,921,171 $4,157,895,298
2007 $3,391,122,887 $3,632,957,611
2006 $3,215,307,901 $3,263,697,467
2005 $3,097,946,371 $2,545,275,313
2004 $2,710,331,785 $2,237,350,687
2003 $2,149,632,433 $2,142,618,046
2002 $1,393,945,031 $1,933,863,911
2001 $1,502,870,486 $1,681,473,894
2000 $1,697,161,558 $635,866,404
1999 $1,547,888,496 $669,386,624
1998 $1,576,908,856 $672,368,187
1997 $1,716,714,070 $850,232,760
1996 $1,602,741,834 $941,709,423
1995 $1,698,989,464 $870,740,292
1994 $1,419,294,254 $911,853,802
1993 $1,357,189,552 $768,867,883
1992 $1,284,759,928 $679,940,814
1991 $1,156,135,718 $779,981,987
1990 $1,114,694,041 $649,644,098
1989 $696,921,542 $932,974,420
1988 $692,026,455 $1,055,083,933
1987 $584,126,092 $660,106,336
1986 $449,140,318 $490,181,457
1985 $360,079,419 $856,890,459
1984 $494,483,409 $1,087,471,862
1983 $555,336,146 $995,104,305
1982 $537,568,059 $1,295,361,886
1981 $570,774,825 $1,114,830,472
1980 $541,976,853 $1,100,685,845
1979 $412,093,134 $1,109,374,911
1978 $340,630,085 $960,728,339
1977 $304,060,076 $691,777,584
1976 $272,550,068 $594,895,942
1975 $288,299,789 $679,336,344
1974 $264,320,941 $648,590,643
1973 $221,915,128 $575,230,724
1972 $146,736,479 $465,381,340
1971 $136,462,081 $419,549,305
1970 $112,139,955 $434,410,974
1969 $105,419,958 $408,690,163
1968 $79,799,968 $329,859,732
1967 $74,759,970 $348,795,303
1966 $76,859,969 $375,479,850
1965 $70,279,972 $359,379,856
1964 $64,980,554 $371,847,461
1963 $54,129,438 $348,547,279
1962 $45,927,962 $342,721,416
1961 $43,026,043 $327,834,191
1960 $35,076,846 $322,009,962

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/sierra-leone | CC BY

GDP per capita in Eswatini vs Sierra Leone by year

Eswatini
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $846 -
2024 $3,910 $11,799 $807 $3,522
2023 $3,756 $11,300 $758 $3,368
2022 $3,894 $10,635 $860 $3,144
2021 $3,984 $9,990 $885 $2,849
2020 $3,467 $9,329 $845 $2,719
2019 $3,913 $9,248 $844 $2,704
2018 $3,973 $8,535 $846 $2,640
2017 $3,853 $8,584 $779 $2,501
2016 $3,238 $8,484 $844 $2,635
2015 $3,420 $8,391 $965 $2,560
2014 $3,771 $8,366 $1,118 $2,762
2013 $3,950 $8,231 $1,117 $2,701
2012 $4,225 $7,760 $938 $2,317
2011 $4,225 $7,571 $761 $2,043
2010 $3,923 $7,324 $685 $1,900
2009 $3,190 $7,011 $653 $1,814
2008 $2,947 $6,914 $705 $1,824
2007 $3,109 $6,732 $632 $1,770
2006 $2,965 $6,319 $580 $1,698
2005 $2,871 $5,773 $463 $1,615
2004 $2,526 $5,310 $418 $1,541
2003 $2,015 $5,020 $414 $1,458
2002 $1,316 $4,742 $389 $1,360
2001 $1,430 $4,521 $358 $1,121
2000 $1,630 $4,401 $143.7 $1,242
1999 $1,502 $4,272 $155 $1,167
1998 $1,547 $4,137 $156.5 $1,180
1997 $1,705 $4,038 $199.9 $1,157
1996 $1,619 $3,916 $224.3 $1,225
1995 $1,751 $3,777 $208.4 $1,187
1994 $1,461 $3,526 $218.5 $1,266
1993 $1,397 $3,371 $185 $1,269
1992 $1,362 $3,289 $163.2 $1,220
1991 $1,273 $3,236 $183.7 $1,445
1990 $1,278 $3,202 $154.8 $1,382
1989 $832 - $231.3 -
1988 $865 - $268.2 -
1987 $765 - $172.4 -
1986 $611 - $131.5 -
1985 $510 - $235.5 -
1984 $726 - $306 -
1983 $843 - $285.8 -
1982 $843 - $380 -
1981 $925 - $334 -
1980 $908 - $336 -
1979 $714 - $346 -
1978 $610 - $305 -
1977 $563 - $224.2 -
1976 $521 - $196.4 -
1975 $568 - $228.4 -
1974 $536 - $222.1 -
1973 $463 - $200.6 -
1972 $315 - $165.4 -
1971 $301 - $151.8 -
1970 $254.2 - $160.2 -
1969 $245.2 - $153.6 -
1968 $190.4 - $126.3 -
1967 $182.8 - $136.1 -
1966 $192.7 - $149.3 -
1965 $181 - $145.6 -
1964 $171.6 - $153.4 -
1963 $146.4 - $146.3 -
1962 $127.1 - $146.3 -
1961 $121.8 - $142.3 -
1960 $101.6 - $142 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/sierra-leone | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $846 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Eswatini Sierra Leone
Gross domestic product
$5.16B
2025
$7.46B
2025
GDP rank
163/197
2025
160/197
2025
GDP growth
4.19%
2024-2025
4.61%
2024-2025
GDP per capita
$4,108
2025
$846
2025
GDP per capita rank
131/197
2025
186/197
2025
GDP per capita, PPP
$11,799
2024
$3,522
2024
GDP per capita PPP rank
126/197
2024
171/197
2024
Government debt
$2.31B
2025
$3.38B
2025
Debt-to-GDP ratio
44.9%
2025
45.2%
2025
Government debt per person
$1,843
2025
$383
2025
Government debt per person rank
121/185
2025
173/185
2025
Average annual personal income after taxes
$4,770
2026
$1,418
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
29.4%
2018
Income share by poorest 10%
1.4%
2016
3.4%
2018
Government expenditure, % of GDP
35.7%
2025
16.5%
2025
Consumer prices inflation
2.6%
2018-2019
7.6%
2024-2025
Central bank interest rate
6.75%
2025
16.8%
2025
Unemployment rate
34.3%
2023
1.65%
2018
Population
1276995
9090531

Spending and national debt comparison by year

Eswatini
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Eswatini Sierra Leone
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 16.5% 45.2%
2024 33.6% 40.1% 17.6% 46.7%
2023 31.5% 39.4% 15.4% 49.4%
2022 28.9% 39.5% 16.7% 54%
2021 29.3% 37.3% 16.8% 47.1%
2020 32.2% 37.7% 15.6% 46.4%
2019 32.8% 30.5% 13.3% 45.3%
2018 31.6% 26.5% 13.7% 44.2%
2017 33.6% 21.7% 15% 44.2%
2016 34% 20.1% 14.9% 38.9%
2015 34.5% 16% 13.1% 28.4%
2014 32.7% 14.1% 13.5% 26.8%
2013 28.8% 15.2% 11.4% 22.3%
2012 27.1% 14.8% 13.5% 24.1%
2011 25.1% 14.6% 13.2% 25.8%
2010 31.1% 14.2% 12.5% 28.9%
2009 33.9% 10.6% 11.3% 31.1%
2008 33.4% 14.6% 10.3% 46.1%
2007 30.4% 16.1% 8.1% 26.4%
2006 27.6% 14.7% 9.97% 61.9%
2005 29% 13.6% 10.9% 78.9%
2004 31% 15% 11.1% 93.2%
2003 25.9% 17.7% 11.7% 99.8%
2002 26.5% 17.2% 12.6% 99.8%
2001 25.6% 21.7% 12% 113.5%
2000 24.7% 18.2% 10.3% -
1999 25.8% 16.7% - -
1998 22% 15.6% - -
1997 20.7% 12.7% - -
1996 22.5% 11.5% - -
1995 19.9% 12.5% - -
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/sierra-leone | CC BY

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Sierra Leone spent $1.23B, or 16.5% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 45.2% in Sierra Leone, ranking 118/185 and 115/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Eswatini Sierra Leone
2025 -6.14% -4.2%
2024 -1.06% -5.16%
2023 -0.66% -4.99%
2022 -5.27% -5.93%
2021 -4.55% -4.35%
2020 -4.21% -3.5%
2019 -6.23% -1.95%
2018 -6.59% -3.57%
2017 -5.64% -5.61%
2016 -8.36% -5.41%
2015 -5.89% -2.86%
2014 -1.16% -2.77%
2013 0.57% -1.74%
2012 3.39% -3.41%
2011 -3.88% -2.78%
2010 -9.34% -3.09%
2009 -3% -1.51%
2008 1.58% -2.22%
2007 2.37% 12.6%
2006 8.67% -0.93%
2005 -1.66% -1.17%
2004 -3.97% -1.46%
2003 -2.11% -2.78%
2002 -3.69% -3.03%
2001 -2.24% -3.22%
2000 -1.19% -1.94%
1999 -1.23% -
1998 1.05% -
1997 2.06% -
1996 -0.97% -
1995 0.87% -
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/sierra-leone | 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 Sierra Leone's deficit of $313M, or 4.2% of GDP.

Over the past 26 years, Eswatini recorded a fiscal deficit in 21 of those years, while Sierra Leone ran a deficit in 25 years. On average, Eswatini posted an annual deficit equal to 2.7% of GDP, compared to deficit of 2.58% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Eswatini

Sierra Leone
1x
Year Consumer prices inflation
Eswatini Sierra Leone
2025 - 7.6%
2024 - 28.4%
2023 - 47.7%
2022 - 27.2%
2021 - 11.9%
2020 - 13.4%
2019 2.6% 14.8%
2018 4.82% 16%
2017 6.22% 18.2%
2016 7.85% 10.9%
2015 4.95% 6.7%
2014 5.68% 4.6%
2013 5.62% 5.5%
2012 8.94% 6.6%
2011 6.11% 6.8%
2010 4.51% 7.2%
2009 7.45% 7.5%
2008 12.7% 8.2%
2007 8.08% 17%
2006 5.3% 10.5%
2005 4.77% 13.7%
2004 3.45% 12.9%
2003 7.29% 4%
2002 12% 0.1%
2001 5.94% 2.6%
2000 12.2% -0.9%
1999 6.09% 34.1%
1998 8.11% 36%
1997 7.13% 14.6%

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/sierra-leone | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 11.2% in Sierra Leone. In 2019, inflation was 2.6% in Eswatini and 7.6% in Sierra Leone.

Top exports between countries

Eswatini
Export category Export value
Sierra Leone
Export category Export value
Processed food, beverages & tobacco $332K

Balance of trade

Eswatini Sierra Leone
Current account balance
$78.3M
2024
-$984M
2024
Current account balance ranking
65/190
2024
115/190
2024
Current account balance, % of GDP
+1.61%
2024
-14.1%
2024
Goods imports
$2.07B
2024
$2.4B
2024
Goods exports
$2.33B
2024
$1.55B
2024
Service imports
$542M
2024
$514M
2024
Service exports
$234M
2024
$49.6M
2024
Imports of goods and services, % of GDP
53.7%
2024
28.2%
2025
Exports of goods and services, % of GDP
53.8%
2024
20.9%
2025

Economic freedom indices

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

Eswatini Sierra Leone
Economic freedom 57.5 49.6
Economic freedom ranking 116/197 165/197
Property rights 42.5 32.9
Government integrity 29.7 35.8
Judicial effectiveness 35.5 42
Tax burden 78.6 88.2
Government spending 71 92.4
Fiscal health 87.5 54.1
Business freedom 49.9 44.8
Labor freedom 55.2 38.2
Monetary freedom 76.8 53.6
Trade freedom 73.6 63.6
Investment freedom 50 30
Financial freedom 40 20

Economic freedom comparison by year

Eswatini
Sierra Leone
1x
Year Economic freedom index
Eswatini Sierra Leone
2026 57.5 49.6
2025 56.4 48
2024 55.6 44.6
2023 54.9 50.2
2022 51.4 52
2021 55.1 51.7
2020 55.3 48
2019 54.7 47.5
2018 55.9 51.8
2017 61.1 52.6
2016 59.7 52.3
2015 59.9 51.7
2014 61.2 50.5
2013 57.2 48.3
2012 57.2 49.1
2011 59.1 49.6
2010 57.4 47.9
2009 59.1 47.8
2008 58.4 48.3
2007 60.1 47
2006 61.4 45.2
2005 59.4 44.8
2004 58.6 43.6
2003 59.6 42.2
2002 60.9 -
2001 63.6 -
2000 62.6 44.2
1999 62.1 47.2
1998 62 47.7
1997 59.4 45
1996 58.6 52.3
1995 63.3 49.8

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

GeoRank.org/economy/eswatini/sierra-leone | CC BY

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Sierra Leone
Services, % of GDP
52.4%
2025
41.6%
2025
Industry, % of GDP
33.6%
2025
25.7%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
29.5%
2025
GNI, Atlas method
$4.69B
2025
$7.34B
2025
GNI per capita, PPP
$11,390
2025
$3,690
2025
Total reserves including gold
$537M
2024
$433M
2024
Total reserves ranking
157/177
2024
161/177
2024
Net foreign direct investment
-$11.8M
2024
-$122M
2024
Net inflows of foreign direct investment
$75.5M
2024
$122M
2024
Net outflows of foreign direct investment
$63.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
2.22%
2024
Poverty at national poverty lines
58.9%
2016
56.8%
2018
Gross capital formation, % of GDP
15%
2024
23.2%
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/sierra-leone | 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. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2018, 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.