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Economy of Eswatini vs United Arab Emirates compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $552B for the United Arab Emirates, ranking 163/197 and 31/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $193B (34.3% of GDP) in the United Arab Emirates.

Eswatini vs United Arab Emirates GDP by year

Eswatini
United Arab Emirates
1x
Year GDP, current $
Eswatini UAE
2025 $5,160,679,613 -
2024 $4,858,885,841 $552,324,919,096
2023 $4,621,191,262 $522,622,268,401
2022 $4,746,660,274 $511,403,404,642
2021 $4,807,069,277 $422,441,282,436
2020 $4,134,677,810 $357,161,776,271
2019 $4,617,018,959 $433,926,218,686
2018 $4,643,751,059 $440,560,003,161
2017 $4,462,640,651 $403,365,056,079
2016 $3,722,306,117 $381,717,208,621
2015 $3,908,217,914 $381,973,135,513
2014 $4,285,065,665 $424,935,834,104
2013 $4,463,396,204 $409,632,574,703
2012 $4,747,813,067 $392,793,559,051
2011 $4,722,912,047 $368,881,033,963
2010 $4,360,714,359 $307,736,348,527
2009 $3,525,213,502 $253,547,358,747
2008 $3,235,921,171 $315,474,615,741
2007 $3,391,122,887 $257,916,148,767
2006 $3,215,307,901 $222,116,532,963
2005 $3,097,946,371 $180,617,467,954
2004 $2,710,331,785 $147,824,249,958
2003 $2,149,632,433 $124,346,476,180
2002 $1,393,945,031 $109,816,091,079
2001 $1,502,870,486 $103,311,631,797
2000 $1,697,161,558 $104,337,463,730
1999 $1,547,888,496 $84,445,399,335
1998 $1,576,908,856 $75,674,384,205
1997 $1,716,714,070 $78,838,886,862
1996 $1,602,741,834 $73,571,217,377
1995 $1,698,989,464 $65,743,604,966
1994 $1,419,294,254 $59,305,111,228
1993 $1,357,189,552 $55,625,269,485
1992 $1,284,759,928 $54,239,188,746
1991 $1,156,135,718 $51,552,058,250
1990 $1,114,694,041 $50,701,374,187
1989 $696,921,542 $41,464,966,302
1988 $692,026,455 $36,275,613,877
1987 $584,126,092 $36,384,802,310
1986 $449,140,318 $33,943,568,481
1985 $360,079,419 $40,603,631,079
1984 $494,483,409 $41,807,931,453
1983 $555,336,146 $42,803,373,390
1982 $537,568,059 $46,622,715,281
1981 $570,774,825 $49,333,471,895
1980 $541,976,853 $43,599,134,193
1979 $412,093,134 $31,225,557,022
1978 $340,630,085 $23,775,718,541
1977 $304,060,076 $24,871,660,292
1976 $272,550,068 $19,213,212,475
1975 $288,299,789 $14,720,729,969
1974 $264,320,941 $11,651,505,689
1973 $221,915,128 $4,231,243,616
1972 $146,736,479 $1,415,086,929
1971 $136,462,081 $939,893,600
1970 $112,139,955 $685,986,701
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/united-arab-emirates | CC BY

GDP per capita in Eswatini vs United Arab Emirates by year

Eswatini
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - - -
2024 $3,910 $11,799 $50,274 $79,229
2023 $3,756 $11,300 $49,851 $77,955
2022 $3,894 $10,635 $50,760 $75,072
2021 $3,984 $9,990 $44,118 $68,580
2020 $3,467 $9,329 $37,992 $66,791
2019 $3,913 $9,248 $45,939 $79,816
2018 $3,973 $8,535 $47,135 $77,446
2017 $3,853 $8,584 $43,734 $70,282
2016 $3,238 $8,484 $42,721 $69,987
2015 $3,420 $8,391 $44,910 $73,986
2014 $3,771 $8,366 $52,725 $87,478
2013 $3,950 $8,231 $53,247 $87,526
2012 $4,225 $7,760 $53,142 $89,198
2011 $4,225 $7,571 $51,922 $89,665
2010 $3,923 $7,324 $44,795 $85,120
2009 $3,190 $7,011 $37,803 $84,780
2008 $2,947 $6,914 $50,054 $94,628
2007 $3,109 $6,732 $45,855 $100,813
2006 $2,965 $6,319 $44,343 $106,814
2005 $2,871 $5,773 $38,719 $101,301
2004 $2,526 $5,310 $33,377 $98,661
2003 $2,015 $5,020 $29,660 $92,636
2002 $1,316 $4,742 $27,754 $88,467
2001 $1,430 $4,521 $27,745 $90,370
2000 $1,630 $4,401 $29,866 $92,899
1999 $1,502 $4,272 $25,856 $87,658
1998 $1,547 $4,137 $24,889 $90,229
1997 $1,705 $4,038 $27,983 $96,009
1996 $1,619 $3,916 $28,323 $94,620
1995 $1,751 $3,777 $27,003 $93,702
1994 $1,461 $3,526 $25,473 $89,959
1993 $1,397 $3,371 $25,033 $86,330
1992 $1,362 $3,289 $25,648 $87,509
1991 $1,273 $3,236 $25,691 $87,250
1990 $1,278 $3,202 $26,710 $88,455
1989 $832 - $23,167 -
1988 $865 - $21,570 -
1987 $765 - $23,113 -
1986 $611 - $23,132 -
1985 $510 - $29,468 -
1984 $726 - $32,012 -
1983 $843 - $34,650 -
1982 $843 - $39,972 -
1981 $925 - $44,855 -
1980 $908 - $42,925 -
1979 $714 - $34,238 -
1978 $610 - $29,379 -
1977 $563 - $35,020 -
1976 $521 - $31,197 -
1975 $568 - $27,117 -
1974 $536 - $23,823 -
1973 $463 - $9,696 -
1972 $315 - $3,675 -
1971 $301 - $2,805 -
1970 $254.2 - $2,394 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/united-arab-emirates | CC BY

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $50,274 in the United Arab Emirates, ranking 25/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Eswatini UAE
Gross domestic product
$5.16B
2025
$552B
2024
GDP rank
163/197
2025
31/197
2024
GDP growth
4.19%
2024-2025
3.99%
2023-2024
GDP per capita
$4,108
2025
$50,274
2024
GDP per capita rank
131/197
2025
25/197
2024
GDP per capita, PPP
$11,799
2024
$79,229
2024
GDP per capita PPP rank
126/197
2024
16/197
2024
Government debt
$2.31B
2025
$193B
2024
Debt-to-GDP ratio
44.9%
2025
34.3%
2025
Government debt per person
$1,843
2025
$17,568
2024
Government debt per person rank
121/185
2025
37/185
2024
Average annual personal income after taxes
$4,770
2026
$40,096
2026
Market capitalization of domestic companies
$234M
2007
$1.11T
2025
Number of millionaires n/a
183,000
2026
Number of billionaires
1
2026
6
2026
Income share by richest 10%
42.7%
2016
20.5%
2018
Income share by poorest 10%
1.4%
2016
2.8%
2018
Government expenditure, % of GDP
35.7%
2025
22.6%
2025
Consumer prices inflation
2.6%
2018-2019
1.3%
2024-2025
Central bank interest rate
6.75%
2025
3.65%
2025
Unemployment rate
34.3%
2023
1.88%
2024
Population
1276995
11885001

Spending and national debt comparison by year

Eswatini
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Eswatini UAE
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 22.6% 34.3%
2024 33.6% 40.1% 21.4% 34.9%
2023 31.5% 39.4% 22.7% 31.9%
2022 28.9% 39.5% 22.7% 31.5%
2021 29.3% 37.3% 25.9% 35.7%
2020 32.2% 37.7% 30.5% 30.1%
2019 32.8% 30.5% 27.4% 25.8%
2018 31.6% 26.5% 25.9% 20.7%
2017 33.6% 21.7% 27.2% 21.2%
2016 34% 20.1% 31.7% 18.6%
2015 34.5% 16% 26.4% 15.6%
2014 32.7% 14.1% 31.4% 13.5%
2013 28.8% 15.2% 28.9% 15.3%
2012 27.1% 14.8% 27.8% 20.2%
2011 25.1% 14.6% 29.6% 20.4%
2010 31.1% 14.2% 30.4% 18.3%
2009 33.9% 10.6% 35% 21.1%
2008 33.4% 14.6% 22% 8.95%
2007 30.4% 16.1% 17.7% 8.89%
2006 27.6% 14.7% 15.6% 5.05%
2005 29% 13.6% 15.7% 4.48%
2004 31% 15% 17.7% 4.08%
2003 25.9% 17.7% 20% 3.33%
2002 26.5% 17.2% 21.3% 3.43%
2001 25.6% 21.7% 25.2% 2.69%
2000 24.7% 18.2% 21.8% 3.12%
1999 25.8% 16.7% 24.3% 4.73%
1998 22% 15.6% 25.8% 4.18%
1997 20.7% 12.7% 22.6% 2.86%
1996 22.5% 11.5% 27.6% 3.48%
1995 19.9% 12.5% 26.1% 5.06%
1994 23.4% 13.1% 30.1% 5.58%
1993 23% 15% 31.5% 6.01%
1992 24.7% 16.6% 29.6% 5.31%
1991 19.6% 20.1% 36% 4.97%
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 (1980–1998, retrieved 2026-07-08).

GeoRank.org/economy/eswatini/united-arab-emirates | CC BY

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while the United Arab Emirates spent $118B, or 22.6% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 34.3% in the United Arab Emirates, ranking 118/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Eswatini UAE
2025 -6.14% 5.15%
2024 -1.06% 6.41%
2023 -0.66% 5.82%
2022 -5.27% 9.8%
2021 -4.55% 3.96%
2020 -4.21% -2.42%
2019 -6.23% 2.5%
2018 -6.59% 3.65%
2017 -5.64% -0.16%
2016 -8.36% -2.95%
2015 -5.89% -6.35%
2014 -1.16% 1.74%
2013 0.57% 7.99%
2012 3.39% 8.59%
2011 -3.88% 5.05%
2010 -9.34% 0.52%
2009 -3% -6.13%
2008 1.58% 17.6%
2007 2.37% 17.1%
2006 8.67% 20.2%
2005 -1.66% 16%
2004 -3.97% 6.4%
2003 -2.11% 2.35%
2002 -3.69% -1.24%
2001 -2.24% 1.21%
2000 -1.19% 10.7%
1999 -1.23% 1.31%
1998 1.05% 1%
1997 2.06% 6.71%
1996 -0.97% 0.92%
1995 0.87% 3.58%
1994 -3.43% -1.78%
1993 -3.15% -2.89%
1992 -2.76% 3.34%
1991 3.28% 3.89%
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/united-arab-emirates | 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 the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 34 years, Eswatini recorded a fiscal deficit in 25 of those years, while the United Arab Emirates ran a deficit in 8 years. On average, Eswatini posted an annual deficit equal to 2.01% of GDP, compared to surplus of 4.25% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Eswatini

United Arab Emirates
1x
Year Consumer prices inflation
Eswatini UAE
2025 - 1.3%
2024 - 1.7%
2023 - 1.6%
2022 - 4.8%
2021 - -0.1%
2020 - -2.1%
2019 2.6% -1.9%
2018 4.82% 3.1%
2017 6.22% 2%
2016 7.85% 1.6%
2015 4.95% 4.1%
2014 5.68% 2.3%
2013 5.62% 1.1%
2012 8.94% 0.7%
2011 6.11% 0.9%
2010 4.51% 0.9%
2009 7.45% -4.7%
2008 12.7% 12.3%
2007 8.08% 11.1%
2006 5.3% 9.3%
2005 4.77% 6.2%
2004 3.45% 5%
2003 7.29% 3.1%
2002 12% 2.9%
2001 5.94% 2.8%
2000 12.2% 1.3%
1999 6.09% 2.1%
1998 8.11% 2%
1997 7.13% 3%

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/united-arab-emirates | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 3.1% in the United Arab Emirates. In 2019, inflation was 2.6% in Eswatini and 1.3% in the United Arab Emirates.

Top exports between countries

Eswatini
Export category Export value
Metals $777K
Raw agricultural goods $241K
Machinery & equipment $64K
Processed food, beverages & tobacco $15K
Textiles & consumer goods $14K
Wood & paper products $7K
Chemicals & pharma $6K
Precious metals & jewellery $5K
UAE
Export category Export value
Precious metals & jewellery $1.86M
Raw materials & minerals $1.23M
Machinery & equipment $1.23M
Processed food, beverages & tobacco $460K
Textiles & consumer goods $205K
Chemicals & pharma $108K
Miscellaneous $53K
Metals $37K
Raw agricultural goods $37K
Wood & paper products $7K

Balance of trade

Eswatini UAE
Current account balance
$78.3M
2024
$80B
2024
Current account balance ranking
65/190
2024
9/190
2024
Current account balance, % of GDP
+1.61%
2024
+14.5%
2024
Goods imports
$2.07B
2024
$400B
2024
Goods exports
$2.33B
2024
$467B
2024
Service imports
$542M
2024
$117B
2024
Service exports
$234M
2024
$181B
2024
Imports of goods and services, % of GDP
53.7%
2024
92.2%
2023
Exports of goods and services, % of GDP
53.8%
2024
106.8%
2023

Economic freedom indices

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

Eswatini UAE
Economic freedom 57.5 71.9
Economic freedom ranking 116/197 29/197
Property rights 42.5 62.9
Government integrity 29.7 65.3
Judicial effectiveness 35.5 34.4
Tax burden 78.6 99.9
Government spending 71 85.1
Fiscal health 87.5 97.6
Business freedom 49.9 84.5
Labor freedom 55.2 63.2
Monetary freedom 76.8 81.2
Trade freedom 73.6 78.6
Investment freedom 50 50
Financial freedom 40 60

Economic freedom comparison by year

Eswatini
United Arab Emirates
1x
Year Economic freedom index
Eswatini UAE
2026 57.5 71.9
2025 56.4 71.6
2024 55.6 71.1
2023 54.9 70.9
2022 51.4 70.2
2021 55.1 76.9
2020 55.3 76.2
2019 54.7 77.6
2018 55.9 77.6
2017 61.1 76.9
2016 59.7 72.6
2015 59.9 72.4
2014 61.2 71.4
2013 57.2 71.1
2012 57.2 69.3
2011 59.1 67.8
2010 57.4 67.3
2009 59.1 64.7
2008 58.4 62.6
2007 60.1 62.6
2006 61.4 62.2
2005 59.4 65.2
2004 58.6 67.2
2003 59.6 73.4
2002 60.9 73.6
2001 63.6 74.9
2000 62.6 74.2
1999 62.1 71.5
1998 62 72.2
1997 59.4 71.9
1996 58.6 71.6
1995 63.3 -

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

GeoRank.org/economy/eswatini/united-arab-emirates | CC BY

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini UAE
Services, % of GDP
52.4%
2025
54.9%
2024
Industry, % of GDP
33.6%
2025
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
0.77%
2024
GNI, Atlas method
$4.69B
2025
$566B
2024
GNI per capita, PPP
$11,390
2025
$81,640
2024
Total reserves including gold
$537M
2024
$292B
2025
Total reserves ranking
157/177
2024
14/177
2025
Net foreign direct investment
-$11.8M
2024
$31.5B
2024
Net inflows of foreign direct investment
$75.5M
2024
$45.6B
2024
Net outflows of foreign direct investment
$63.8M
2024
$77.2B
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
n/a
Poverty at national poverty lines
58.9%
2016
19.5%
2020
Gross capital formation, % of GDP
15%
2024
26.6%
2023

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/united-arab-emirates | 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 (1980–1998, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.