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Economy of Eswatini vs Sri Lanka compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $109B for Sri Lanka, ranking 163/197 and 71/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $100B (100.8% of GDP) in Sri Lanka.

Eswatini vs Sri Lanka GDP by year

Eswatini
Sri Lanka
1x
Year GDP, current $
Eswatini Sri Lanka
2025 $5,160,679,613 $108,825,231,671
2024 $4,858,885,841 $99,616,111,266
2023 $4,621,191,262 $84,080,307,356
2022 $4,746,660,274 $74,143,020,304
2021 $4,807,069,277 $88,556,699,052
2020 $4,134,677,810 $84,335,574,372
2019 $4,617,018,959 $88,998,706,178
2018 $4,643,751,059 $94,450,015,983
2017 $4,462,640,651 $94,369,350,439
2016 $3,722,306,117 $88,000,210,878
2015 $3,908,217,914 $85,090,300,896
2014 $4,285,065,665 $82,531,125,462
2013 $4,463,396,204 $76,976,204,075
2012 $4,747,813,067 $70,447,216,891
2011 $4,722,912,047 $67,753,285,882
2010 $4,360,714,359 $58,636,049,581
2009 $3,525,213,502 $42,066,224,093
2008 $3,235,921,171 $40,713,826,215
2007 $3,391,122,887 $32,350,238,760
2006 $3,215,307,901 $28,267,410,543
2005 $3,097,946,371 $24,405,791,045
2004 $2,710,331,785 $20,662,525,941
2003 $2,149,632,433 $18,881,765,437
2002 $1,393,945,031 $16,536,535,647
2001 $1,502,870,486 $15,749,753,805
2000 $1,697,161,558 $16,595,882,819
1999 $1,547,888,496 $15,711,933,513
1998 $1,576,908,856 $15,760,736,956
1997 $1,716,714,070 $15,091,913,884
1996 $1,602,741,834 $13,897,738,375
1995 $1,698,989,464 $13,029,697,561
1994 $1,419,294,254 $11,717,604,209
1993 $1,357,189,552 $10,338,679,636
1992 $1,284,759,928 $9,703,011,636
1991 $1,156,135,718 $9,000,362,582
1990 $1,114,694,041 $8,032,551,173
1989 $696,921,542 $6,987,267,684
1988 $692,026,455 $6,978,371,581
1987 $584,126,092 $6,682,167,120
1986 $449,140,318 $6,405,210,564
1985 $360,079,419 $5,978,460,972
1984 $494,483,409 $6,043,474,843
1983 $555,336,146 $5,167,913,302
1982 $537,568,059 $4,768,765,017
1981 $570,774,825 $4,415,844,156
1980 $541,976,853 $4,024,621,900
1979 $412,093,134 $3,364,611,432
1978 $340,630,085 $2,733,183,857
1977 $304,060,076 $4,104,509,583
1976 $272,550,068 $3,591,319,857
1975 $288,299,789 $3,791,298,146
1974 $264,320,941 $3,574,586,466
1973 $221,915,128 $2,875,625,000
1972 $146,736,479 $2,553,936,348
1971 $136,462,081 $2,369,308,600
1970 $112,139,955 $2,296,470,588
1969 $105,419,958 $1,965,546,218
1968 $79,799,968 $1,801,344,538
1967 $74,759,970 $1,859,465,021
1966 $76,859,969 $1,751,470,588
1965 $70,279,972 $1,698,319,328
1964 $64,980,554 $1,309,747,899
1963 $54,129,438 $1,240,672,269
1962 $45,927,962 $1,434,156,379
1961 $43,026,043 $1,444,327,731
1960 $35,076,846 $1,409,873,950

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

GeoRank.org/economy/eswatini/sri-lanka | CC BY

GDP per capita in Eswatini vs Sri Lanka by year

Eswatini
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $5,002 -
2024 $3,910 $11,799 $4,545 $15,633
2023 $3,756 $11,300 $3,815 $14,456
2022 $3,894 $10,635 $3,343 $14,194
2021 $3,984 $9,990 $3,997 $14,316
2020 $3,467 $9,329 $3,848 $12,941
2019 $3,913 $9,248 $4,082 $14,113
2018 $3,973 $8,535 $4,359 $14,178
2017 $3,853 $8,584 $4,399 $13,610
2016 $3,238 $8,484 $4,149 $13,079
2015 $3,420 $8,391 $4,058 $12,227
2014 $3,771 $8,366 $3,972 $11,721
2013 $3,950 $8,231 $3,739 $11,253
2012 $4,225 $7,760 $3,328 $10,249
2011 $4,225 $7,571 $3,225 $9,076
2010 $3,923 $7,324 $2,808 $8,234
2009 $3,190 $7,011 $2,027 $7,576
2008 $2,947 $6,914 $1,974 $7,317
2007 $3,109 $6,732 $1,579 $6,820
2006 $2,965 $6,319 $1,389 $6,261
2005 $2,871 $5,773 $1,207 $5,679
2004 $2,526 $5,310 $1,029 $5,216
2003 $2,015 $5,020 $946 $4,850
2002 $1,316 $4,742 $835 $4,522
2001 $1,430 $4,521 $804 $4,328
2000 $1,630 $4,401 $860 $4,368
1999 $1,502 $4,272 $829 $4,103
1998 $1,547 $4,137 $848 $3,952
1997 $1,705 $4,038 $827 $3,804
1996 $1,619 $3,916 $776 $3,582
1995 $1,751 $3,777 $742 $3,454
1994 $1,461 $3,526 $678 $3,260
1993 $1,397 $3,371 $607 $3,067
1992 $1,362 $3,289 $580 $2,851
1991 $1,273 $3,236 $546 $2,713
1990 $1,278 $3,202 $491 $2,527
1989 $832 - $430 -
1988 $865 - $434 -
1987 $765 - $420 -
1986 $611 - $407 -
1985 $510 - $385 -
1984 $726 - $391 -
1983 $843 - $336 -
1982 $843 - $312 -
1981 $925 - $292.5 -
1980 $908 - $271.1 -
1979 $714 - $230.8 -
1978 $610 - $191 -
1977 $563 - $292.1 -
1976 $521 - $260.3 -
1975 $568 - $279.8 -
1974 $536 - $268.7 -
1973 $463 - $220.2 -
1972 $315 - $199.4 -
1971 $301 - $188.8 -
1970 $254.2 - $186.9 -
1969 $245.2 - $163.6 -
1968 $190.4 - $153.5 -
1967 $182.8 - $162.3 -
1966 $192.7 - $156.6 -
1965 $181 - $155.6 -
1964 $171.6 - $122.9 -
1963 $146.4 - $119.4 -
1962 $127.1 - $141.4 -
1961 $121.8 - $145.9 -
1960 $101.6 - $145.9 -

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

GeoRank.org/economy/eswatini/sri-lanka | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $5,002 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Eswatini Sri Lanka
Gross domestic product
$5.16B
2025
$109B
2025
GDP rank
163/197
2025
71/197
2025
GDP growth
4.19%
2024-2025
4.95%
2024-2025
GDP per capita
$4,108
2025
$5,002
2025
GDP per capita rank
131/197
2025
124/197
2025
GDP per capita, PPP
$11,799
2024
$15,633
2024
GDP per capita PPP rank
126/197
2024
111/197
2024
Government debt
$2.31B
2025
$100B
2024
Debt-to-GDP ratio
44.9%
2025
100.8%
2024
Government debt per person
$1,843
2025
$4,584
2024
Government debt per person rank
121/185
2025
90/185
2024
Average annual personal income after taxes
$4,770
2026
$2,830
2026
Market capitalization of domestic companies
$234M
2007
$26.1B
2025
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
30.8%
2019
Income share by poorest 10%
1.4%
2016
3.1%
2019
Government expenditure, % of GDP
35.7%
2025
19.1%
2024
Consumer prices inflation
2.6%
2018-2019
-4.76%
2024-2025
Central bank interest rate
6.75%
2025
7.75%
2025
Unemployment rate
34.3%
2023
4.32%
2024
Population
1276995
21926160

Spending and national debt comparison by year

Eswatini
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Eswatini Sri Lanka
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% - -
2024 33.6% 40.1% 19.1% 100.8%
2023 31.5% 39.4% 19.5% 110.4%
2022 28.9% 39.5% 18.6% 115.9%
2021 29.3% 37.3% 20% 102.7%
2020 32.2% 37.7% 22.1% 96.9%
2019 32.8% 30.5% 19.5% 82.6%
2018 31.6% 26.5% 17.5% 83.6%
2017 33.6% 21.7% 17.9% 72.3%
2016 34% 20.1% 18.2% 75%
2015 34.5% 16% 19.3% 76.3%
2014 32.7% 14.1% 17.2% 69.6%
2013 28.8% 15.2% 16.6% 69.5%
2012 27.1% 14.8% 17.3% 67.5%
2011 25.1% 14.6% 19.1% 69.4%
2010 31.1% 14.2% 19.3% 68.7%
2009 33.9% 10.6% 21% 72.8%
2008 33.4% 14.6% 19.1% 68.8%
2007 30.4% 16.1% 19.9% 71.8%
2006 27.6% 14.7% 20.5% 74.3%
2005 29% 13.6% 20.1% 76.6%
2004 31% 15% 19.3% 86.5%
2003 25.9% 17.7% 19.3% 86.5%
2002 26.5% 17.2% 20.8% 96.3%
2001 25.6% 21.7% 22.4% 84.4%
2000 24.7% 18.2% 21.7% 79.2%
1999 25.8% 16.7% 20.5% 77.7%
1998 22% 15.6% 21.4% 74.2%
1997 20.7% 12.7% 21.4% 70.1%
1996 22.5% 11.5% 23.1% 76.2%
1995 19.9% 12.5% 24.8% 77.8%
1994 23.4% 13.1% 24.1% 77.9%
1993 23% 15% 23.2% 79.2%
1992 24.7% 16.6% 23% 77.9%
1991 19.6% 20.1% 26.4% 80.5%
1990 18.2% 20.4% 25.4% 78.9%
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/sri-lanka | CC BY

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Sri Lanka spent $19B, or 19.1% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 100.8% in Sri Lanka, ranking 118/185 and 24/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Eswatini Sri Lanka
2025 -6.14% -
2024 -1.06% -5.43%
2023 -0.66% -8.32%
2022 -5.27% -10.2%
2021 -4.55% -11.7%
2020 -4.21% -13.4%
2019 -6.23% -7.52%
2018 -6.59% -4.96%
2017 -5.64% -5.1%
2016 -8.36% -5%
2015 -5.89% -6.64%
2014 -1.16% -5.99%
2013 0.57% -5%
2012 3.39% -5.44%
2011 -3.88% -6.01%
2010 -9.34% -6.73%
2009 -3% -8.33%
2008 1.58% -5.93%
2007 2.37% -5.81%
2006 8.67% -5.91%
2005 -1.66% -5.93%
2004 -3.97% -6.32%
2003 -2.11% -6.15%
2002 -3.69% -6.9%
2001 -2.24% -8.48%
2000 -1.19% -7.78%
1999 -1.23% -5.58%
1998 1.05% -6.79%
1997 2.06% -5.71%
1996 -0.97% -6.89%
1995 0.87% -7.11%
1994 -3.43% -7.41%
1993 -3.15% -5.77%
1992 -2.76% -4.95%
1991 3.28% -7.97%
1990 5.47% -6.39%
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/sri-lanka | CC BY

In 2024, Eswatini's government deficit, the difference between spending and revenue, was $51.7M, equivalent to 1.06% of GDP. This compares to Sri Lanka's deficit of $5.4B, or 5.43% of GDP.

Over the past 35 years, Eswatini recorded a fiscal deficit in 25 of those years, while Sri Lanka ran a deficit in 35 years. On average, Eswatini posted an annual deficit equal to 1.8% of GDP, compared to deficit of 6.84% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Eswatini

Sri Lanka
1x
Year Consumer prices inflation
Eswatini Sri Lanka
2025 - -4.76%
2024 - -0.43%
2023 - 16.5%
2022 - 49.7%
2021 - 7.01%
2020 - 6.15%
2019 2.6% 3.53%
2018 4.82% 2.14%
2017 6.22% 7.7%
2016 7.85% 3.96%
2015 4.95% 3.77%
2014 5.68% 3.18%
2013 5.62% 6.91%
2012 8.94% 7.54%
2011 6.11% 6.72%
2010 4.51% 6.22%
2009 7.45% 3.46%
2008 12.7% 22.6%
2007 8.08% 15.8%
2006 5.3% 10%
2005 4.77% 11.6%
2004 3.45% 7.58%
2003 7.29% 6.31%
2002 12% 9.55%
2001 5.94% 14.2%
2000 12.2% 6.18%
1999 6.09% 4.69%
1998 8.11% 9.36%
1997 7.13% 9.57%

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

GeoRank.org/economy/eswatini/sri-lanka | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 7.94% in Sri Lanka. In 2019, inflation was 2.6% in Eswatini and -4.76% in Sri Lanka.

Top exports between countries

Eswatini
Export category Export value
Miscellaneous $3K
Sri Lanka
Export category Export value
Raw materials & minerals $687K
Processed food, beverages & tobacco $346K
Textiles & consumer goods $213K
Miscellaneous $154K
Machinery & equipment $101K
Raw agricultural goods $93K
Wood & paper products $44K
Precious metals & jewellery $20K
Animal & marine products $3K
Chemicals & pharma $3K

Balance of trade

Eswatini Sri Lanka
Current account balance
$78.3M
2024
$1.21B
2024
Current account balance ranking
65/190
2024
49/190
2024
Current account balance, % of GDP
+1.61%
2024
+1.21%
2024
Goods imports
$2.07B
2024
$18.8B
2024
Goods exports
$2.33B
2024
$12.8B
2024
Service imports
$542M
2024
$3.48B
2024
Service exports
$234M
2024
$6.91B
2024
Imports of goods and services, % of GDP
53.7%
2024
22.8%
2025
Exports of goods and services, % of GDP
53.8%
2024
19%
2025

Economic freedom indices

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

Eswatini Sri Lanka
Economic freedom 57.5 50.3
Economic freedom ranking 116/197 162/197
Property rights 42.5 47.3
Government integrity 29.7 37.3
Judicial effectiveness 35.5 47.2
Tax burden 78.6 77
Government spending 71 89
Fiscal health 87.5 0
Business freedom 49.9 60.1
Labor freedom 55.2 54.3
Monetary freedom 76.8 65.9
Trade freedom 73.6 65.6
Investment freedom 50 30
Financial freedom 40 30

Economic freedom comparison by year

Eswatini
Sri Lanka
1x
Year Economic freedom index
Eswatini Sri Lanka
2026 57.5 50.3
2025 56.4 49.4
2024 55.6 49.2
2023 54.9 52.2
2022 51.4 53.3
2021 55.1 55.7
2020 55.3 57.4
2019 54.7 56.4
2018 55.9 57.8
2017 61.1 57.4
2016 59.7 59.9
2015 59.9 58.6
2014 61.2 60
2013 57.2 60.7
2012 57.2 58.3
2011 59.1 57.1
2010 57.4 54.6
2009 59.1 56
2008 58.4 58.4
2007 60.1 59.4
2006 61.4 58.7
2005 59.4 61
2004 58.6 61.6
2003 59.6 62.5
2002 60.9 64
2001 63.6 66
2000 62.6 63.2
1999 62.1 64
1998 62 64.6
1997 59.4 65.5
1996 58.6 62.5
1995 63.3 60.6

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

GeoRank.org/economy/eswatini/sri-lanka | CC BY

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Sri Lanka
Services, % of GDP
52.4%
2025
54.6%
2025
Industry, % of GDP
33.6%
2025
25.4%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
8.36%
2025
GNI, Atlas method
$4.69B
2025
$102B
2025
GNI per capita, PPP
$11,390
2025
$16,750
2025
Total reserves including gold
$537M
2024
$6.09B
2024
Total reserves ranking
157/177
2024
96/177
2024
Net foreign direct investment
-$11.8M
2024
-$651M
2024
Net inflows of foreign direct investment
$75.5M
2024
$761M
2024
Net outflows of foreign direct investment
$63.8M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
4.96%
2024
Poverty at national poverty lines
58.9%
2016
14.3%
2019
Gross capital formation, % of GDP
15%
2024
29.6%
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/sri-lanka | 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 (2022–2024, 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.