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Economy of Eswatini vs Tanzania compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $78.8B for Tanzania, ranking 162/197 and 82/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Eswatini vs Tanzania GDP by year

Eswatini
Tanzania
1x
Year GDP, current $
Eswatini Tanzania
2024 $4,858,885,841 $78,844,405,385
2023 $4,621,191,262 $79,030,935,627
2022 $4,746,660,274 $75,749,121,843
2021 $4,807,069,277 $70,655,628,148
2020 $4,134,677,810 $66,068,737,786
2019 $4,617,018,959 $61,026,731,926
2018 $4,643,751,059 $57,003,712,892
2017 $4,462,640,651 $53,274,884,533
2016 $3,722,306,117 $49,774,409,374
2015 $3,908,217,914 $47,413,919,817
2014 $4,285,065,665 $49,986,726,461
2013 $4,463,396,204 $45,648,857,242
2012 $4,747,813,067 $39,650,394,363
2011 $4,722,912,047 $34,657,140,096
2010 $4,360,714,359 $32,012,892,919
2009 $3,525,213,502 $29,400,573,554
2008 $3,235,921,171 $27,947,821,398
2007 $3,391,122,887 $21,860,434,823
2006 $3,215,307,901 $18,619,859,795
2005 $3,097,946,371 $18,395,383,647
2004 $2,710,331,785 $16,673,062,473
2003 $2,149,632,433 $15,211,487,709
2002 $1,393,945,031 $14,129,651,896
2001 $1,502,870,486 $13,563,990,022
2000 $1,697,161,558 $13,371,767,082
1999 $1,547,888,496 $12,704,334,196
1998 $1,576,908,856 $12,172,790,056
1997 $1,716,714,070 $11,158,197,942
1996 $1,602,741,834 $9,433,528,150
1995 $1,698,989,464 $7,631,431,840
1994 $1,419,294,254 $6,550,480,484
1993 $1,357,189,552 $6,182,872,708
1992 $1,284,759,928 $6,681,997,469
1991 $1,156,135,718 $7,197,768,159
1990 $1,114,694,041 $6,184,384,225
1989 $696,921,542 $6,418,799,007
1988 $692,026,455 $7,406,614,407
1987 $584,126,092 $7,824,193,222
1986 $449,140,318 $10,840,864,521
1985 $360,079,419 $15,328,295,175
1984 $494,483,409 $12,906,635,133
1983 $555,336,146 $14,049,883,809
1982 $537,568,059 $13,927,383,240
1981 $570,774,825 $13,161,540,378
1980 $541,976,853 $11,409,228,087
1979 $412,093,134 $9,804,637,491
1978 $340,630,085 $9,261,675,710
1977 $304,060,076 $7,732,598,995
1976 $272,550,068 $6,472,511,988
1975 $288,299,789 $5,729,917,840
1974 $264,320,941 $4,977,337,978
1973 $221,915,128 $4,144,104,535
1972 $146,736,479 $3,472,787,266
1971 $136,462,081 $3,050,673,517
1970 $112,139,955 $2,851,419,386
1969 $105,419,958 $5,142,066,811
1968 $79,799,968 $4,895,251,824
1967 $74,759,970 $4,565,132,048
1966 $76,859,969 $4,377,998,825
1965 $70,279,972 $3,817,226,546
1964 $64,980,554 $3,748,840,925
1963 $54,129,438 $3,456,579,293
1962 $45,927,962 $3,101,589,993
1961 $43,026,043 $2,826,179,031
1960 $35,076,846 $2,651,729,807

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

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

GDP per capita in Eswatini vs Tanzania by year

Eswatini
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 $1,150 $4,221
2023 $3,756 $11,300 $1,186 $4,019
2022 $3,894 $10,635 $1,171 $3,800
2021 $3,984 $9,990 $1,125 $3,493
2020 $3,467 $9,329 $1,084 $3,291
2019 $3,913 $9,248 $1,031 $2,982
2018 $3,973 $8,535 $992 $2,728
2017 $3,853 $8,584 $957 $2,472
2016 $3,238 $8,484 $925 $2,435
2015 $3,420 $8,391 $911 $2,317
2014 $3,771 $8,366 $993 $2,221
2013 $3,950 $8,231 $935 $2,176
2012 $4,225 $7,760 $837 $2,083
2011 $4,225 $7,571 $753 $2,211
2010 $3,923 $7,324 $715 $2,069
2009 $3,190 $7,011 $674 $1,972
2008 $2,947 $6,914 $657 $1,908
2007 $3,109 $6,732 $528 $1,820
2006 $2,965 $6,319 $462 $1,707
2005 $2,871 $5,773 $469 $1,598
2004 $2,526 $5,310 $438 $1,482
2003 $2,015 $5,020 $410 $1,379
2002 $1,316 $4,742 $391 $1,302
2001 $1,430 $4,521 $385 $1,229
2000 $1,630 $4,401 $390 $1,164
1999 $1,502 $4,272 $382 $1,120
1998 $1,547 $4,137 $375 $1,082
1997 $1,705 $4,038 $353 $1,059
1996 $1,619 $3,916 $305 $1,026
1995 $1,751 $3,777 $251.2 $981
1994 $1,461 $3,526 $222.5 $958
1993 $1,397 $3,371 $218.2 $959
1992 $1,362 $3,289 $243.4 $955
1991 $1,273 $3,236 $268.8 $952
1990 $1,278 $3,202 $236.9 $925
1989 $832 - $252.3 -
1988 $865 - $299 -
1987 $765 - $326 -
1986 $611 - $466 -
1985 $510 - $681 -
1984 $726 - $593 -
1983 $843 - $667 -
1982 $843 - $683 -
1981 $925 - $665 -
1980 $908 - $595 -
1979 $714 - $527 -
1978 $610 - $515 -
1977 $563 - $446 -
1976 $521 - $387 -
1975 $568 - $355 -
1974 $536 - $320 -
1973 $463 - $276.1 -
1972 $315 - $239.8 -
1971 $301 - $218.4 -
1970 $254.2 - $211.3 -
1969 $245.2 - $394 -
1968 $190.4 - $388 -
1967 $182.8 - $374 -
1966 $192.7 - $370 -
1965 $181 - $333 -
1964 $171.6 - $337 -
1963 $146.4 - $320 -
1962 $127.1 - $295.7 -
1961 $121.8 - $277.4 -
1960 $101.6 - $267.8 -

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

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Tanzania ranks 165th at $4,221.

Economic indicators

Eswatini Tanzania
Gross domestic product
$4.86B
2024
$78.8B
2024
GDP rank
162/197
2024
82/197
2024
GDP growth
2.97%
2023-2024
5.53%
2023-2024
GDP per capita
$3,910
2024
$1,150
2024
GDP per capita rank
131/197
2024
170/197
2024
GDP per capita, PPP
$11,799
2024
$4,221
2024
GDP per capita PPP rank
126/197
2024
165/197
2024
Government debt
$1.93B
2024
$39.3B
2024
Debt-to-GDP ratio
39.8%
2024
49.9%
2024
Government debt per person
$1,554
2024
$573
2024
Government debt per person rank
130/185
2024
160/185
2024
Average annual personal income after taxes
$3,913
2026
$2,309
2026
Market capitalization of domestic companies
$234M
2007
$7.32B
2024
Number of billionaires
1
2025
1
2025
Income share by richest 10%
42.7%
2016
33.1%
2018
Income share by poorest 10%
1.4%
2016
2.9%
2018
Government expenditure, % of GDP
33.3%
2024
19.1%
2024
Consumer prices inflation
2.6%
2018-2019
3.06%
2023-2024
Central bank interest rate
6.75%
2025
6%
2024
Unemployment rate
34.6%
2023
2.43%
2024
Population
1273390
73145892

Spending and national debt comparison by year

Eswatini
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Eswatini Tanzania
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 19.1% 49.9%
2023 32% 40% 19% 47.8%
2022 29.6% 40.5% 19.1% 44.9%
2021 30.1% 38.4% 18.4% 43.4%
2020 32.7% 38.2% 17.4% 41.3%
2019 32.9% 30.7% 17.3% 40.4%
2018 32.2% 27% 17.3% 42%
2017 33.9% 21.9% 16.4% 40.1%
2016 34.7% 20.5% 16.9% 39.8%
2015 35.3% 16.4% 17.2% 39.5%
2014 33.3% 14.3% 17.3% 36.4%
2013 29.4% 15.5% 18.8% 32.7%
2012 27.8% 15.2% 19.6% 30%
2011 26% 15.1% 19% 28.4%
2010 31.6% 14.5% 19.8% 27.6%
2009 34.5% 10.8% 19.6% 23.9%
2008 34.4% 15% 18.1% 21.6%
2007 31.2% 16.6% 17.8% 23.8%
2006 28.2% 15% 17.6% 17.4%
2005 29.7% 13.9% 18.3% 25.4%
2004 32% 15.5% 17% 44.5%
2003 26.4% 18% 15.4% 44.4%
2002 27.2% 17.6% 13.6% 47.4%
2001 26.4% 22.4% 12.4% 50.8%
2000 25.3% 18.7% 12.3% 55.4%
1999 26.5% 17.2% 12.8% 62.9%
1998 22.5% 15.9% 11.4% 62.2%
1997 21.2% 13% 12.8% 73.4%
1996 23.3% 12% 13.4% 89.6%
1995 20.5% 12.9% 15.6% 111.1%
1994 24.7% 13.8% 16.8% 126%
1993 24% 15.6% 16.4% 129.2%
1992 26% 16.6% 17.6% 117.6%
1991 20.3% 20.1% 14.2% 106.5%
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 (1980–2000, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 49.9% in Tanzania, ranking 134/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Tanzania
1x
Year Deficit/surplus, % of GDP
Eswatini Tanzania
2024 -1.36% -3.03%
2023 -0.67% -3.67%
2022 -5.4% -3.92%
2021 -4.68% -3.55%
2020 -4.27% -2.56%
2019 -6.26% -2.06%
2018 -6.72% -2.01%
2017 -5.68% -1.14%
2016 -8.54% -2.08%
2015 -6.03% -3.17%
2014 -1.18% -2.91%
2013 0.59% -3.76%
2012 3.48% -4%
2011 -4.02% -3.51%
2010 -9.52% -4.74%
2009 -3.06% -4.46%
2008 1.63% -1.92%
2007 2.44% -1.44%
2006 8.88% -3.38%
2005 -1.7% -3.28%
2004 -4.1% -2.43%
2003 -2.15% -1.77%
2002 -3.78% -0.73%
2001 -2.31% -0.41%
2000 -1.22% -0.73%
1999 -1.27% -1.14%
1998 1.07% 0.13%
1997 2.11% -0.03%
1996 -1% 1.57%
1995 0.9% -2.12%
1994 -3.61% -3.74%
1993 -3.29% -2.02%
1992 -2.9% -4.96%
1991 3.4% 0.6%
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/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 34 years, Eswatini recorded a fiscal deficit in 25 of those years, while Tanzania ran a deficit in 31 years. On average, Eswatini posted an annual deficit equal to 2.07% of GDP, compared to deficit of 2.3% of GDP for Tanzania.

Inflation comparison by year

Inflation
Eswatini

Tanzania
1x
Year Consumer prices inflation
Eswatini Tanzania
2024 - 3.06%
2023 - 3.8%
2022 - 4.35%
2021 - 3.69%
2020 - 3.29%
2019 2.6% 3.46%
2018 4.82% 3.49%
2017 6.22% 5.32%
2016 7.85% 5.17%
2015 4.95% 5.59%
2014 5.68% 6.13%
2013 5.62% 7.87%
2012 8.94% 16%
2011 6.11% 12.7%
2010 4.51% 6.2%
2009 7.45% 12.1%
2008 12.7% 10.3%
2007 8.08% 7.03%
2006 5.3% 7.25%
2005 4.77% 5.03%
2004 3.45% 4.74%
2003 7.29% 5.3%
2002 12% 5.32%
2001 5.94% 5.15%
2000 12.2% 5.92%
1999 6.09% 7.89%
1998 8.11% 12.8%
1997 7.13% 16.1%

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

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 7.69% in Tanzania. In 2019, inflation was 2.6% in Eswatini and 3.06% in Tanzania.

Top exports between countries

Eswatini
Export category Export value
Chemicals & pharma $29M
Processed food, beverages & tobacco $6.35M
Machinery & equipment $144K
Miscellaneous $60K
Wood & paper products $8K
Raw agricultural goods $3K
Raw materials & minerals $1K
Tanzania
Export category Export value
Processed food, beverages & tobacco $204K
Machinery & equipment $163K
Raw agricultural goods $111K
Wood & paper products $6K
Chemicals & pharma $5K

Balance of trade

Eswatini Tanzania
Current account balance
$78.3M
2024
-$2.38B
2024
Current account balance ranking
69/190
2024
147/190
2024
Current account balance, % of GDP
+1.61%
2024
-3.02%
2024
Goods imports
$2.07B
2024
$14.2B
2024
Goods exports
$2.33B
2024
$9.12B
2024
Service imports
$542M
2024
$2.8B
2024
Service exports
$234M
2024
$6.85B
2024
Imports of goods and services, % of GDP
53.7%
2024
21.7%
2024
Exports of goods and services, % of GDP
53.8%
2024
19.8%
2024

Economic freedom indices

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

Eswatini Tanzania
Economic freedom 57.5 59
Economic freedom ranking 116/197 106/197
Property rights 42.5 45.2
Government integrity 29.7 40.9
Judicial effectiveness 35.5 29.6
Tax burden 78.6 80.4
Government spending 71 89.1
Fiscal health 87.5 75
Business freedom 49.9 48.1
Labor freedom 55.2 62.3
Monetary freedom 76.8 73.4
Trade freedom 73.6 58.8
Investment freedom 50 55
Financial freedom 40 50

Economic freedom comparison by year

Eswatini
Tanzania
1x
Year Economic freedom index
Eswatini Tanzania
2026 57.5 59
2025 56.4 59.3
2024 55.6 59.1
2023 54.9 60
2022 51.4 59.5
2021 55.1 61.3
2020 55.3 61.7
2019 54.7 60.2
2018 55.9 59.9
2017 61.1 58.6
2016 59.7 58.5
2015 59.9 57.5
2014 61.2 57.8
2013 57.2 57.9
2012 57.2 57
2011 59.1 57
2010 57.4 58.3
2009 59.1 58.3
2008 58.4 56.5
2007 60.1 56.8
2006 61.4 58.5
2005 59.4 56.3
2004 58.6 60.1
2003 59.6 56.9
2002 60.9 58.3
2001 63.6 54.9
2000 62.6 56
1999 62.1 60
1998 62 59.6
1997 59.4 59.3
1996 58.6 57.5
1995 63.3 57.3

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Tanzania
Services, % of GDP
51.4%
2024
29.6%
2024
Industry, % of GDP
34.7%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
23.3%
2024
GNI, Atlas method
$4.46B
2024
$80.2B
2024
GNI per capita, PPP
$10,760
2024
$4,130
2024
Total reserves including gold
$479M
2023
$5.05B
2018
Total reserves ranking
159/177
2023
101/177
2018
Net foreign direct investment
-$11.8M
2024
-$1.72B
2024
Net inflows of foreign direct investment
$75.5M
2024
$1.72B
2024
Net outflows of foreign direct investment
$63.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
2.57%
2024
Poverty at national poverty lines
58.9%
2016
26.4%
2018
Gross capital formation, % of GDP
15%
2024
39.8%
2024

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/tanzania | 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 (1980–2000, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, 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.