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Economy of Eswatini vs Tajikistan compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $14.2B for Tajikistan, ranking 162/197 and 145/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $3.54B (24.9% of GDP) in Tajikistan.

Eswatini vs Tajikistan GDP by year

Eswatini
Tajikistan
1x
Year GDP, current $
Eswatini Tajikistan
2024 $4,858,885,841 $14,204,575,549
2023 $4,621,191,262 $12,244,169,293
2022 $4,746,660,274 $10,713,525,200
2021 $4,807,069,277 $8,937,805,347
2020 $4,134,677,810 $8,133,963,551
2019 $4,617,018,959 $8,300,813,599
2018 $4,643,751,059 $7,764,999,999
2017 $4,462,640,651 $7,536,402,853
2016 $3,722,306,117 $6,992,416,097
2015 $3,908,217,914 $8,271,431,485
2014 $4,285,065,665 $9,112,605,459
2013 $4,463,396,204 $8,448,411,318
2012 $4,747,813,067 $7,633,036,903
2011 $4,722,912,047 $6,522,756,255
2010 $4,360,714,359 $5,642,221,099
2009 $3,525,213,502 $4,979,472,364
2008 $3,235,921,171 $5,161,299,725
2007 $3,391,122,887 $3,719,524,541
2006 $3,215,307,901 $2,830,213,849
2005 $3,097,946,371 $2,312,352,021
2004 $2,710,331,785 $2,076,176,869
2003 $2,149,632,433 $1,555,318,261
2002 $1,393,945,031 $1,221,106,220
2001 $1,502,870,486 $1,080,772,551
2000 $1,697,161,558 $860,541,842
1999 $1,547,888,496 $1,086,612,290
1998 $1,576,908,856 $1,320,199,582
1997 $1,716,714,070 $921,518,033
1996 $1,602,741,834 $1,043,654,822
1995 $1,698,989,464 $1,231,561,860
1994 $1,419,294,254 $1,522,001,206
1993 $1,357,189,552 $1,646,623,195
1992 $1,284,759,928 $1,908,554,572
1991 $1,156,135,718 $2,536,585,366
1990 $1,114,694,041 $2,629,395,066
1989 $696,921,542 -
1988 $692,026,455 -
1987 $584,126,092 -
1986 $449,140,318 -
1985 $360,079,419 -
1984 $494,483,409 -
1983 $555,336,146 -
1982 $537,568,059 -
1981 $570,774,825 -
1980 $541,976,853 -
1979 $412,093,134 -
1978 $340,630,085 -
1977 $304,060,076 -
1976 $272,550,068 -
1975 $288,299,789 -
1974 $264,320,941 -
1973 $221,915,128 -
1972 $146,736,479 -
1971 $136,462,081 -
1970 $112,139,955 -
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/tajikistan | CC BY

GDP per capita in Eswatini vs Tajikistan by year

Eswatini
GDP per capita

GDP per capita, PPP
Tajikistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Tajikistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $1,341 $5,406
2023 $3,756 $11,300 $1,178 $4,964
2022 $3,894 $10,635 $1,052 $4,514
2021 $3,984 $9,990 $897 $3,986
2020 $3,467 $9,329 $834 $3,654
2019 $3,913 $9,248 $871 $3,460
2018 $3,973 $8,535 $834 $3,069
2017 $3,853 $8,584 $829 $3,017
2016 $3,238 $8,484 $789 $2,914
2015 $3,420 $8,391 $957 $2,975
2014 $3,771 $8,366 $1,082 $3,152
2013 $3,950 $8,231 $1,028 $2,919
2012 $4,225 $7,760 $952 $2,679
2011 $4,225 $7,571 $834 $2,456
2010 $3,923 $7,324 $737 $2,291
2009 $3,190 $7,011 $665 $2,171
2008 $2,947 $6,914 $703 $2,120
2007 $3,109 $6,732 $517 $1,966
2006 $2,965 $6,319 $401 $1,810
2005 $2,871 $5,773 $334 $1,673
2004 $2,526 $5,310 $306 $1,550
2003 $2,015 $5,020 $233.6 $1,396
2002 $1,316 $4,742 $187 $1,257
2001 $1,430 $4,521 $168.7 $1,139
2000 $1,630 $4,401 $136.9 $1,036
1999 $1,502 $4,272 $175 $947
1998 $1,547 $4,137 $213.7 $905
1997 $1,705 $4,038 $150.1 $855
1996 $1,619 $3,916 $172 $836
1995 $1,751 $3,777 $207 $1,006
1994 $1,461 $3,526 $261.3 $1,148
1993 $1,397 $3,371 $287.6 $1,454
1992 $1,362 $3,289 $338 $1,721
1991 $1,273 $3,236 $458 $2,417
1990 $1,278 $3,202 $487 $2,583
1989 $832 - - -
1988 $865 - - -
1987 $765 - - -
1986 $611 - - -
1985 $510 - - -
1984 $726 - - -
1983 $843 - - -
1982 $843 - - -
1981 $925 - - -
1980 $908 - - -
1979 $714 - - -
1978 $610 - - -
1977 $563 - - -
1976 $521 - - -
1975 $568 - - -
1974 $536 - - -
1973 $463 - - -
1972 $315 - - -
1971 $301 - - -
1970 $254.2 - - -
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).

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $1,341 in Tajikistan, ranking 166/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Tajikistan ranks 157th at $5,406.

Economic indicators

Eswatini Tajikistan
Gross domestic product
$4.86B
2024
$14.2B
2024
GDP rank
162/197
2024
145/197
2024
GDP growth
2.97%
2023-2024
8.4%
2023-2024
GDP per capita
$3,910
2024
$1,341
2024
GDP per capita rank
131/197
2024
166/197
2024
GDP per capita, PPP
$11,799
2024
$5,406
2024
GDP per capita PPP rank
126/197
2024
157/197
2024
Government debt
$1.93B
2024
$3.54B
2024
Debt-to-GDP ratio
39.8%
2024
24.9%
2024
Government debt per person
$1,554
2024
$335
2024
Government debt per person rank
130/185
2024
175/185
2024
Average annual personal income after taxes
$3,913
2026
$2,591
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
28.2%
2024
Income share by poorest 10%
1.4%
2016
2.9%
2024
Government expenditure, % of GDP
33.3%
2024
27.7%
2024
Consumer prices inflation
2.6%
2018-2019
3.5%
2023-2024
Central bank interest rate
6.75%
2025
7.75%
2025
Unemployment rate
34.6%
2023
0.08%
2016
Population
1273390
11038274

Spending and national debt comparison by year

Eswatini
Spending

Debt
Tajikistan
Spending

Debt
1x
Year % of GDP
Eswatini Tajikistan
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 27.7% 24.9%
2023 32% 40% 28% 29.9%
2022 29.6% 40.5% 27.4% 31.8%
2021 30.1% 38.4% 27.6% 42%
2020 32.7% 38.2% 29.2% 50.9%
2019 32.9% 30.7% 28.8% 43.2%
2018 32.2% 27% 30.9% 46.3%
2017 33.9% 21.9% 33.8% 46.3%
2016 34.7% 20.5% 32.7% 42.2%
2015 35.3% 16.4% 31.9% 35%
2014 33.3% 14.3% 27.5% 27.9%
2013 29.4% 15.5% 27.7% 29.3%
2012 27.8% 15.2% 24.7% 32.5%
2011 26% 15.1% 24.3% 35.5%
2010 31.6% 14.5% 25.9% 36.8%
2009 34.5% 10.8% 23.6% 36.9%
2008 34.4% 15% 20.2% 30.2%
2007 31.2% 16.6% 20.3% 34.3%
2006 28.2% 15% 21.6% 36.8%
2005 29.7% 13.9% 22.9% 45.8%
2004 32% 15.5% 20.2% 49.4%
2003 26.4% 18% 19.1% 69.8%
2002 27.2% 17.6% 19.1% 98.3%
2001 26.4% 22.4% 17.3% 99.4%
2000 25.3% 18.7% 18.1% 111.4%
1999 26.5% 17.2% 17.5% 107.8%
1998 22.5% 15.9% 17.1% 96.6%
1997 21.2% 13% - -
1996 23.3% 12% - -
1995 20.5% 12.9% - -
1994 24.7% 13.8% - -
1993 24% 15.6% - -
1992 26% 16.6% - -
1991 20.3% 20.1% - -
1990 18.7% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1992, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Tajikistan spent $3.93B, or 27.7% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 24.9% in Tajikistan, ranking 134/185 and 166/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Tajikistan
1x
Year Deficit/surplus, % of GDP
Eswatini Tajikistan
2024 -1.36% 0.28%
2023 -0.67% -0.93%
2022 -5.4% -0.23%
2021 -4.68% -0.64%
2020 -4.27% -4.34%
2019 -6.26% -2.04%
2018 -6.72% -2.69%
2017 -5.68% -5.65%
2016 -8.54% -2.91%
2015 -6.03% -1.96%
2014 -1.18% 0.92%
2013 0.59% -0.73%
2012 3.48% 0.41%
2011 -4.02% 0.6%
2010 -9.52% -2.71%
2009 -3.06% -0.2%
2008 1.63% 1.94%
2007 2.44% 2.13%
2006 8.88% 2%
2005 -1.7% -2.83%
2004 -4.1% -2.32%
2003 -2.15% -1.74%
2002 -3.78% -2.4%
2001 -2.31% -2.11%
2000 -1.22% -4.51%
1999 -1.27% -4.03%
1998 1.07% -5.09%
1997 2.11% -
1996 -1% -
1995 0.9% -
1994 -3.61% -
1993 -3.29% -
1992 -2.9% -
1991 3.4% -
1990 5.61% -
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/tajikistan | 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 Tajikistan's surplus of $39.2M, or 0.28% of GDP.

Over the past 27 years, Eswatini recorded a fiscal deficit in 21 of those years, while Tajikistan ran a deficit in 20 years. On average, Eswatini posted an annual deficit equal to 2.44% of GDP, compared to deficit of 1.55% of GDP for Tajikistan.

Inflation comparison by year

Inflation
Eswatini

Tajikistan
1x
Year Consumer prices inflation
Eswatini Tajikistan
2024 - 3.5%
2023 - 3.7%
2022 - 6.6%
2021 - 9%
2020 - 8.6%
2019 2.6% 7.8%
2018 4.82% 3.8%
2017 6.22% 7.3%
2016 7.85% 5.9%
2015 4.95% 5.8%
2014 5.68% 6.1%
2013 5.62% 5%
2012 8.94% 5.8%
2011 6.11% 12.4%
2010 4.51% 6.5%
2009 7.45% 6.4%
2008 12.7% 20.4%
2007 8.08% 13.2%
2006 5.3% 10%
2005 4.77% 7.3%
2004 3.45% 7.2%
2003 7.29% 16.4%
2002 12% 12.2%
2001 5.94% 38.6%
2000 12.2% 32.9%
1999 6.09% 27.5%
1998 8.11% 43.2%
1997 7.13% 88%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 16.9% in Tajikistan. In 2019, inflation was 2.6% in Eswatini and 3.5% in Tajikistan.

Balance of trade

Eswatini Tajikistan
Current account balance
$78.3M
2024
$887M
2024
Current account balance ranking
69/190
2024
54/190
2024
Current account balance, % of GDP
+1.61%
2024
+6.24%
2024
Goods imports
$2.07B
2024
$5.94B
2024
Goods exports
$2.33B
2024
$1.42B
2024
Service imports
$542M
2024
$971M
2024
Service exports
$234M
2024
$195M
2024
Imports of goods and services, % of GDP
53.7%
2024
48.4%
2023
Exports of goods and services, % of GDP
53.8%
2024
17.2%
2023

Economic freedom indices

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

Eswatini Tajikistan
Economic freedom 57.5 52.5
Economic freedom ranking 116/197 147/197
Property rights 42.5 28.4
Government integrity 29.7 18.5
Judicial effectiveness 35.5 10.1
Tax burden 78.6 94.2
Government spending 71 77
Fiscal health 87.5 98.6
Business freedom 49.9 60.6
Labor freedom 55.2 43.4
Monetary freedom 76.8 72.6
Trade freedom 73.6 72.2
Investment freedom 50 25
Financial freedom 40 30

Economic freedom comparison by year

Eswatini
Tajikistan
1x
Year Economic freedom index
Eswatini Tajikistan
2026 57.5 52.5
2025 56.4 51.5
2024 55.6 51.3
2023 54.9 50.6
2022 51.4 49.7
2021 55.1 55.2
2020 55.3 52.2
2019 54.7 55.6
2018 55.9 58.3
2017 61.1 58.2
2016 59.7 51.3
2015 59.9 52.7
2014 61.2 52
2013 57.2 53.4
2012 57.2 53.4
2011 59.1 53.5
2010 57.4 53
2009 59.1 54.6
2008 58.4 54.4
2007 60.1 53.6
2006 61.4 52.6
2005 59.4 50.4
2004 58.6 48.7
2003 59.6 46.5
2002 60.9 47.3
2001 63.6 46.8
2000 62.6 44.8
1999 62.1 41.2
1998 62 41.1
1997 59.4 -
1996 58.6 -
1995 63.3 -

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 52.5 for Tajikistan, ranking 147/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Tajikistan
Services, % of GDP
51.4%
2024
34.7%
2023
Industry, % of GDP
34.7%
2024
33.6%
2023
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
22.9%
2023
GNI, Atlas method
$4.46B
2024
$17.5B
2024
GNI per capita, PPP
$10,760
2024
$7,100
2024
Total reserves including gold
$479M
2023
$3.3B
2023
Total reserves ranking
159/177
2023
117/177
2023
Net foreign direct investment
-$11.8M
2024
-$190M
2024
Net inflows of foreign direct investment
$75.5M
2024
$291M
2024
Net outflows of foreign direct investment
$63.8M
2024
$101M
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
3.07%
2024
Poverty at national poverty lines
58.9%
2016
19.8%
2024
Gross capital formation, % of GDP
15%
2024
31.7%
2023

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/tajikistan | 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.