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Economy of Eswatini vs Syria compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $20B for Syria, ranking 162/197 and 129/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $18.4B (30% of GDP) in Syria.

Eswatini vs Syria GDP by year

Eswatini
Syria
1x
Year GDP, current $
Eswatini Syria
2024 $4,858,885,841 -
2023 $4,621,191,262 $19,993,439,950
2022 $4,746,660,274 $23,622,827,080
2021 $4,807,069,277 $14,353,205,678
2020 $4,134,677,810 $12,047,752,036
2019 $4,617,018,959 $22,583,045,060
2018 $4,643,751,059 $21,497,782,868
2017 $4,462,640,651 $16,369,843,352
2016 $3,722,306,117 $12,597,854,877
2015 $3,908,217,914 $16,466,863,117
2014 $4,285,065,665 $21,502,061,466
2013 $4,463,396,204 $21,361,254,635
2012 $4,747,813,067 $43,190,318,033
2011 $4,722,912,047 $67,539,428,159
2010 $4,360,714,359 $61,390,830,875
2009 $3,525,213,502 $54,111,735,629
2008 $3,235,921,171 $52,557,913,569
2007 $3,391,122,887 $40,465,318,382
2006 $3,215,307,901 $33,751,788,856
2005 $3,097,946,371 $28,858,965,517
2004 $2,710,331,785 $25,086,950,495
2003 $2,149,632,433 $21,828,144,686
2002 $1,393,945,031 $20,669,357,462
2001 $1,502,870,486 $20,237,024,725
2000 $1,697,161,558 $18,937,052,543
1999 $1,547,888,496 $15,873,875,969
1998 $1,576,908,856 $15,200,846,154
1997 $1,716,714,070 $14,505,233,463
1996 $1,602,741,834 $13,789,560,878
1995 $1,698,989,464 $11,396,706,587
1994 $1,419,294,254 $10,122,020,000
1993 $1,357,189,552 $13,695,962,055
1992 $1,284,759,928 $13,253,565,861
1991 $1,156,135,718 $12,981,833,333
1990 $1,114,694,041 $12,308,624,418
1989 $696,921,542 $9,853,395,762
1988 $692,026,455 $10,577,041,645
1987 $584,126,092 $11,356,215,543
1986 $449,140,318 $13,293,205,278
1985 $360,079,419 $16,403,539,893
1984 $494,483,409 $17,503,078,174
1983 $555,336,146 $17,589,277,143
1982 $537,568,059 $16,298,929,011
1981 $570,774,825 $15,518,201,335
1980 $541,976,853 $13,062,420,382
1979 $412,093,134 $9,929,681,529
1978 $340,630,085 $9,275,200,458
1977 $304,060,076 $7,696,011,396
1976 $272,550,068 $7,633,528,867
1975 $288,299,789 $6,826,980,444
1974 $264,320,941 $5,159,557,148
1973 $221,915,128 $3,239,487,516
1972 $146,736,479 $3,059,681,698
1971 $136,462,081 $2,589,851,325
1970 $112,139,955 $2,140,384,010
1969 $105,419,958 $2,245,011,515
1968 $79,799,968 $1,753,746,430
1967 $74,759,970 $1,580,229,799
1966 $76,859,969 $1,342,287,553
1965 $70,279,972 $1,472,036,540
1964 $64,980,554 $1,339,494,267
1963 $54,129,438 $1,200,447,408
1962 $45,927,962 $1,110,565,881
1961 $43,026,043 $945,244,972
1960 $35,076,846 $857,704,413

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

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

GDP per capita in Eswatini vs Syria by year

Eswatini
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 - -
2023 $3,756 $11,300 $847 $4,650
2022 $3,894 $10,635 $1,052 $4,772
2021 $3,984 $9,990 $664 $4,593
2020 $3,467 $9,329 $572 $3,738
2019 $3,913 $9,248 $1,110 $3,502
2018 $3,973 $8,535 $1,098 $3,456
2017 $3,853 $8,584 $852 $3,265
2016 $3,238 $8,484 $656 -
2015 $3,420 $8,391 $848 -
2014 $3,771 $8,366 $1,061 -
2013 $3,950 $8,231 $986 -
2012 $4,225 $7,760 $1,898 -
2011 $4,225 $7,571 $2,952 -
2010 $3,923 $7,324 $2,731 -
2009 $3,190 $7,011 $2,462 -
2008 $2,947 $6,914 $2,429 -
2007 $3,109 $6,732 $1,938 -
2006 $2,965 $6,319 $1,719 -
2005 $2,871 $5,773 $1,534 -
2004 $2,526 $5,310 $1,368 -
2003 $2,015 $5,020 $1,220 -
2002 $1,316 $4,742 $1,183 -
2001 $1,430 $4,521 $1,187 -
2000 $1,630 $4,401 $1,138 -
1999 $1,502 $4,272 $978 -
1998 $1,547 $4,137 $961 -
1997 $1,705 $4,038 $941 -
1996 $1,619 $3,916 $918 -
1995 $1,751 $3,777 $780 -
1994 $1,461 $3,526 $712 -
1993 $1,397 $3,371 $993 -
1992 $1,362 $3,289 $990 -
1991 $1,273 $3,236 $1,000 -
1990 $1,278 $3,202 $978 -
1989 $832 - $809 -
1988 $865 - $898 -
1987 $765 - $997 -
1986 $611 - $1,208 -
1985 $510 - $1,544 -
1984 $726 - $1,706 -
1983 $843 - $1,776 -
1982 $843 - $1,703 -
1981 $925 - $1,676 -
1980 $908 - $1,458 -
1979 $714 - $1,146 -
1978 $610 - $1,108 -
1977 $563 - $951 -
1976 $521 - $976 -
1975 $568 - $904 -
1974 $536 - $707 -
1973 $463 - $459 -
1972 $315 - $448 -
1971 $301 - $393 -
1970 $254.2 - $335 -
1969 $245.2 - $364 -
1968 $190.4 - $293.3 -
1967 $182.8 - $272.9 -
1966 $192.7 - $239.3 -
1965 $181 - $270.8 -
1964 $171.6 - $254.2 -
1963 $146.4 - $234.9 -
1962 $127.1 - $223.9 -
1961 $121.8 - $196.3 -
1960 $101.6 - $183.5 -

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

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $847 in Syria, ranking 185/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Syria ranks 160th at $4,650.

Economic indicators

Eswatini Syria
Gross domestic product
$4.86B
2024
$20B
2023
GDP rank
162/197
2024
129/197
2023
GDP growth
2.97%
2023-2024
-1.21%
2022-2023
GDP per capita
$3,910
2024
$847
2023
GDP per capita rank
131/197
2024
185/197
2023
GDP per capita, PPP
$11,799
2024
$4,650
2023
GDP per capita PPP rank
126/197
2024
160/197
2023
Government debt
$1.93B
2024
$18.4B
2010
Debt-to-GDP ratio
39.8%
2024
30%
2010
Government debt per person
$1,554
2024
$820
2010
Government debt per person rank
130/185
2024
148/185
2010
Average annual personal income after taxes
$3,913
2026
$730
2026
Market capitalization of domestic companies
$234M
2007
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
42.7%
2016
21.1%
2022
Income share by poorest 10%
1.4%
2016
3.8%
2022
Government expenditure, % of GDP
33.3%
2024
28.6%
2010
Consumer prices inflation
2.6%
2018-2019
13.4%
2018-2019
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.6%
2023
8.61%
2010
Population
1273390
26829400

Spending and national debt comparison by year

Eswatini
Spending

Debt
Syria
Spending

Debt
1x
Year % of GDP
Eswatini Syria
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% - -
2023 32% 40% - -
2022 29.6% 40.5% - -
2021 30.1% 38.4% - -
2020 32.7% 38.2% - -
2019 32.9% 30.7% - -
2018 32.2% 27% - -
2017 33.9% 21.9% - -
2016 34.7% 20.5% - -
2015 35.3% 16.4% - -
2014 33.3% 14.3% - -
2013 29.4% 15.5% - -
2012 27.8% 15.2% - -
2011 26% 15.1% - -
2010 31.6% 14.5% 28.6% 30%
2009 34.5% 10.8% 26.7% 31.2%
2008 34.4% 15% 22.9% 37.3%
2007 31.2% 16.6% 25.7% 42.7%
2006 28.2% 15% 26.3% 45%
2005 29.7% 13.9% 28.2% 50.7%
2004 32% 15.5% 31.3% 113%
2003 26.4% 18% 32.6% 133.4%
2002 27.2% 17.6% 28.5% 132.4%
2001 26.4% 22.4% 28% 144.5%
2000 25.3% 18.7% 27.4% 152.1%
1999 26.5% 17.2% 28% 147.7%
1998 22.5% 15.9% 28.8% 151.2%
1997 21.2% 13% 29% 147.6%
1996 23.3% 12% 27.7% 141.5%
1995 20.5% 12.9% 29.8% 152.6%
1994 24.7% 13.8% 30.3% 163%
1993 24% 15.6% 29.4% 171.9%
1992 26% 16.6% 34.2% 173.6%
1991 20.3% 20.1% 34.3% 182.4%
1990 18.7% 20.4% 28.3% 189.8%
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 (1980–1992, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Syria spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 30% in Syria, ranking 134/185 and 157/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Syria
1x
Year Deficit/surplus, % of GDP
Eswatini Syria
2024 -1.36% -
2023 -0.67% -
2022 -5.4% -
2021 -4.68% -
2020 -4.27% -
2019 -6.26% -
2018 -6.72% -
2017 -5.68% -
2016 -8.54% -
2015 -6.03% -
2014 -1.18% -
2013 0.59% -
2012 3.48% -
2011 -4.02% -
2010 -9.52% -7.79%
2009 -3.06% -2.89%
2008 1.63% -2.86%
2007 2.44% -2.99%
2006 8.88% -1.12%
2005 -1.7% -4.41%
2004 -4.1% -4.18%
2003 -2.15% -2.7%
2002 -3.78% -2.02%
2001 -2.31% 2.3%
2000 -1.22% -1.36%
1999 -1.27% -1.47%
1998 1.07% -2.81%
1997 2.11% -1.78%
1996 -1% -2.83%
1995 0.9% -3.81%
1994 -3.61% -6%
1993 -3.29% -4.96%
1992 -2.9% -7.26%
1991 3.4% -6.57%
1990 5.61% -3.92%
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/syria | CC BY

In 2010, Eswatini's government deficit, the difference between spending and revenue, was $415M, equivalent to 9.52% of GDP. This compares to Syria's deficit of $4.78B, or 7.79% of GDP.

Over the past 21 years, Eswatini recorded a fiscal deficit in 13 of those years, while Syria ran a deficit in 20 years. On average, Eswatini posted an annual deficit equal to 0.66% of GDP, compared to deficit of 3.4% of GDP for Syria.

Inflation comparison by year

Inflation
Eswatini

Syria
1x
Year Consumer prices inflation
Eswatini Syria
2019 2.6% 13.4%
2018 4.82% 0.94%
2017 6.22% 18.1%
2016 7.85% 47.7%
2015 4.95% 38.5%
2014 5.68% 10.9%
2013 5.62% 40%
2012 8.94% 36.7%
2011 6.11% 4.75%
2010 4.51% 4.4%
2009 7.45% 2.92%
2008 12.7% 15.7%
2007 8.08% 3.91%
2006 5.3% 10%
2005 4.77% 7.24%
2004 3.45% 4.43%
2003 7.29% 5.8%
2002 12% -0.13%
2001 5.94% 3%
2000 12.2% -3.85%
1999 6.09% -3.7%
1998 8.11% -0.8%
1997 7.13% 1.89%

Data sources: World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 11.4% in Syria. In 2019, inflation was 2.6% in Eswatini and 13.4% in Syria.

Balance of trade

Eswatini Syria
Current account balance
$78.3M
2024
-$367M
2010
Current account balance ranking
69/190
2024
103/190
2010
Current account balance, % of GDP
+1.61%
2024
-0.6%
2010
Goods imports
$2.07B
2024
$15.9B
2010
Goods exports
$2.33B
2024
$12.3B
2010
Service imports
$542M
2024
$3.53B
2010
Service exports
$234M
2024
$7.33B
2010
Imports of goods and services, % of GDP
53.7%
2024
28.8%
2022
Exports of goods and services, % of GDP
53.8%
2024
6.81%
2022

Economic freedom indices

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

Eswatini Syria
Economic freedom 57.5 51.2
Economic freedom ranking 116/197 155/197
Property rights 42.5 4
Government integrity 29.7 3.6
Judicial effectiveness 35.5 3.7
Tax burden 78.6 87.3
Government spending 71 78.5
Fiscal health 87.5 13.8
Business freedom 49.9 33.8
Labor freedom 55.2 37.2
Monetary freedom 76.8 80
Trade freedom 73.6 47
Investment freedom 50 0
Financial freedom 40 20

Economic freedom comparison by year

Eswatini
Syria
1x
Year Economic freedom index
Eswatini Syria
2026 57.5 -
2025 56.4 -
2024 55.6 -
2023 54.9 -
2022 51.4 -
2021 55.1 -
2020 55.3 -
2019 54.7 -
2018 55.9 -
2017 61.1 -
2016 59.7 -
2015 59.9 -
2014 61.2 -
2013 57.2 -
2012 57.2 51.2
2011 59.1 51.3
2010 57.4 49.4
2009 59.1 51.3
2008 58.4 47.2
2007 60.1 48.3
2006 61.4 51.2
2005 59.4 46.3
2004 58.6 40.6
2003 59.6 41.3
2002 60.9 36.3
2001 63.6 36.6
2000 62.6 37.2
1999 62.1 39
1998 62 42.2
1997 59.4 43
1996 58.6 42.3
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 51.2 for Syria, ranking 155/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Syria
Services, % of GDP
51.4%
2024
44.9%
2022
Industry, % of GDP
34.7%
2024
12%
2022
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
43.1%
2022
GNI, Atlas method
$4.46B
2024
$18.2B
2023
GNI per capita, PPP
$10,760
2024
$4,480
2023
Total reserves including gold
$479M
2023
$20.6B
2010
Total reserves ranking
159/177
2023
62/177
2010
Net foreign direct investment
-$11.8M
2024
-$1.47B
2010
Net inflows of foreign direct investment
$75.5M
2024
$0
2024
Net outflows of foreign direct investment
$63.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
0.15%
2023
Poverty at national poverty lines
58.9%
2016
35.2%
2007
Gross capital formation, % of GDP
15%
2024
16%
1969

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/syria | CC BY

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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 (1980–1992, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  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.