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

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $552B for the United Arab Emirates, ranking 162/197 and 27/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $193B (34.9% 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
2024 $4,858,885,841 $552,324,846,835
2023 $4,621,191,262 $522,622,191,967
2022 $4,746,660,274 $511,403,403,676
2021 $4,807,069,277 $422,441,388,700
2020 $4,134,677,810 $357,161,878,829
2019 $4,617,018,959 $433,926,208,305
2018 $4,643,751,059 $440,560,108,918
2017 $4,462,640,651 $403,365,010,211
2016 $3,722,306,117 $381,717,086,453
2015 $3,908,217,914 $381,973,042,886
2014 $4,285,065,665 $424,935,874,745
2013 $4,463,396,204 $409,632,675,289
2012 $4,747,813,067 $392,793,464,942
2011 $4,722,912,047 $368,881,143,635
2010 $4,360,714,359 $307,736,419,333
2009 $3,525,213,502 $253,547,358,747
2008 $3,235,921,171 $315,474,615,739
2007 $3,391,122,887 $257,916,133,424
2006 $3,215,307,901 $222,116,541,865
2005 $3,097,946,371 $180,617,467,965
2004 $2,710,331,785 $147,824,370,320
2003 $2,149,632,433 $124,346,358,067
2002 $1,393,945,031 $109,816,201,498
2001 $1,502,870,486 $103,311,640,572
2000 $1,697,161,558 $104,337,372,362
1999 $1,547,888,496 $84,445,473,111
1998 $1,576,908,856 $75,674,336,283
1997 $1,716,714,070 $78,839,008,445
1996 $1,602,741,834 $73,571,233,996
1995 $1,698,989,464 $65,743,666,576
1994 $1,419,294,254 $59,305,093,980
1993 $1,357,189,552 $55,625,170,253
1992 $1,284,759,928 $54,239,171,888
1991 $1,156,135,718 $51,552,165,622
1990 $1,114,694,041 $50,701,443,748
1989 $696,921,542 $41,464,995,914
1988 $692,026,455 $36,275,674,203
1987 $584,126,092 $36,384,908,744
1986 $449,140,318 $33,943,612,095
1985 $360,079,419 $40,603,650,232
1984 $494,483,409 $41,807,954,236
1983 $555,336,146 $42,803,323,345
1982 $537,568,059 $46,622,718,605
1981 $570,774,825 $49,333,424,135
1980 $541,976,853 $43,599,160,050
1979 $412,093,134 $31,225,659,621
1978 $340,630,085 $23,775,764,225
1977 $304,060,076 $24,871,775,165
1976 $272,550,068 $19,213,158,779
1975 $288,299,789 $14,720,728,249
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 (1960–2024, retrieved 2026-04-06).

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
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 $44,119 $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 - $44,854 -
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 (1960–2024, retrieved 2026-04-06).

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

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $50,274 in the United Arab Emirates, ranking 24/197. 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
$4.86B
2024
$552B
2024
GDP rank
162/197
2024
27/197
2024
GDP growth
2.97%
2023-2024
3.99%
2023-2024
GDP per capita
$3,910
2024
$50,274
2024
GDP per capita rank
131/197
2024
24/197
2024
GDP per capita, PPP
$11,799
2024
$79,229
2024
GDP per capita PPP rank
126/197
2024
16/197
2024
Government debt
$1.93B
2024
$193B
2024
Debt-to-GDP ratio
39.8%
2024
34.9%
2024
Government debt per person
$1,554
2024
$17,568
2024
Government debt per person rank
130/185
2024
36/185
2024
Average annual personal income after taxes
$3,913
2026
$40,522
2026
Market capitalization of domestic companies
$234M
2007
$1.05T
2024
Number of millionaires n/a
339,000
2025
Number of billionaires
1
2025
6
2025
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
33.3%
2024
21.4%
2024
Consumer prices inflation
2.6%
2018-2019
1.7%
2023-2024
Central bank interest rate
6.75%
2025
3.65%
2025
Unemployment rate
34.6%
2023
1.88%
2024
Population
1273390
11686438

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
2024 33.3% 39.8% 21.4% 34.9%
2023 32% 40% 22.7% 31.9%
2022 29.6% 40.5% 22.7% 31.5%
2021 30.1% 38.4% 25.9% 35.7%
2020 32.7% 38.2% 30.5% 30.1%
2019 32.9% 30.7% 27.4% 25.8%
2018 32.2% 27% 25.9% 20.7%
2017 33.9% 21.9% 27.2% 21.2%
2016 34.7% 20.5% 31.7% 18.6%
2015 35.3% 16.4% 26.4% 15.6%
2014 33.3% 14.3% 31.4% 13.5%
2013 29.4% 15.5% 28.9% 15.3%
2012 27.8% 15.2% 27.8% 20.2%
2011 26% 15.1% 29.6% 20.4%
2010 31.6% 14.5% 30.4% 18.3%
2009 34.5% 10.8% 35% 21.1%
2008 34.4% 15% 22% 8.95%
2007 31.2% 16.6% 17.7% 8.89%
2006 28.2% 15% 15.6% 5.05%
2005 29.7% 13.9% 15.7% 4.48%
2004 32% 15.5% 17.7% 4.08%
2003 26.4% 18% 20% 3.33%
2002 27.2% 17.6% 21.3% 3.43%
2001 26.4% 22.4% 25.2% 2.69%
2000 25.3% 18.7% 21.8% 3.12%
1999 26.5% 17.2% 24.3% 4.73%
1998 22.5% 15.9% 25.8% 4.18%
1997 21.2% 13% 22.6% 2.86%
1996 23.3% 12% 27.6% 3.48%
1995 20.5% 12.9% 26.1% 5.06%
1994 24.7% 13.8% 30.1% 5.58%
1993 24% 15.6% 31.5% 6.01%
1992 26% 16.6% 29.6% 5.31%
1991 20.3% 20.1% 36% 4.97%
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 (1980–1998, retrieved 2026-02-20).

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

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while the United Arab Emirates spent $118B, or 21.4% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 34.9% in the United Arab Emirates, ranking 134/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Eswatini UAE
2024 -1.36% 6.41%
2023 -0.67% 5.82%
2022 -5.4% 9.8%
2021 -4.68% 3.96%
2020 -4.27% -2.42%
2019 -6.26% 2.5%
2018 -6.72% 3.65%
2017 -5.68% -0.16%
2016 -8.54% -2.95%
2015 -6.03% -6.35%
2014 -1.18% 1.74%
2013 0.59% 7.99%
2012 3.48% 8.59%
2011 -4.02% 5.05%
2010 -9.52% 0.52%
2009 -3.06% -6.13%
2008 1.63% 17.6%
2007 2.44% 17.1%
2006 8.88% 20.2%
2005 -1.7% 16%
2004 -4.1% 6.4%
2003 -2.15% 2.35%
2002 -3.78% -1.24%
2001 -2.31% 1.21%
2000 -1.22% 10.7%
1999 -1.27% 1.31%
1998 1.07% 1%
1997 2.11% 6.71%
1996 -1% 0.92%
1995 0.9% 3.58%
1994 -3.61% -1.78%
1993 -3.29% -2.89%
1992 -2.9% 3.34%
1991 3.4% 3.89%
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/united-arab-emirates | 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 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 2.07% 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
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 (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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 1.7% in the United Arab Emirates.

Top exports between countries

Eswatini
Export category Export value
Metals $1.83M
Machinery & equipment $89K
Processed food, beverages & tobacco $43K
Raw agricultural goods $33K
Textiles & consumer goods $21K
Chemicals & pharma $10K
Precious metals & jewellery $4K
Wood & paper products $4K
UAE
Export category Export value
Textiles & consumer goods $3.14M
Raw materials & minerals $1.22M
Precious metals & jewellery $999K
Machinery & equipment $843K
Metals $574K
Chemicals & pharma $401K
Processed food, beverages & tobacco $132K
Miscellaneous $18K
Raw agricultural goods $17K
Wood & paper products $4K

Balance of trade

Eswatini UAE
Current account balance
$78.3M
2024
$80B
2024
Current account balance ranking
69/190
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 2026-03-09).

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
51.4%
2024
54.9%
2024
Industry, % of GDP
34.7%
2024
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
0.77%
2024
GNI, Atlas method
$4.46B
2024
$566B
2024
GNI per capita, PPP
$10,760
2024
$81,530
2024
Total reserves including gold
$479M
2023
$238B
2024
Total reserves ranking
159/177
2023
14/177
2024
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
4.68%
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 (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

Compare countries by 7 more topics

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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 (1980–1998, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.