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Economy of Eswatini vs Uruguay compared: GDP & Debt

Updated on by Georank

Eswatini has a GDP of $5.16B compared to $85.3B for Uruguay, ranking 163/197 and 84/197 by economy size, respectively.

Eswatini has $2.31B in government debt (44.9% of GDP), compared to $56B (65.7% of GDP) in Uruguay.

Eswatini vs Uruguay GDP by year

Eswatini
Uruguay
1x
Year GDP, current $
Eswatini Uruguay
2025 $5,160,679,613 $85,347,696,278
2024 $4,858,885,841 $82,322,859,144
2023 $4,621,191,262 $79,208,725,900
2022 $4,746,660,274 $71,240,669,088
2021 $4,807,069,277 $60,739,061,281
2020 $4,134,677,810 $53,559,354,501
2019 $4,617,018,959 $62,222,324,965
2018 $4,643,751,059 $65,344,577,416
2017 $4,462,640,651 $65,006,039,810
2016 $3,722,306,117 $57,480,787,465
2015 $3,908,217,914 $57,680,327,999
2014 $4,285,065,665 $61,496,186,974
2013 $4,463,396,204 $61,337,621,934
2012 $4,747,813,067 $54,232,266,359
2011 $4,722,912,047 $50,342,406,067
2010 $4,360,714,359 $41,950,361,212
2009 $3,525,213,502 $32,708,319,078
2008 $3,235,921,171 $31,119,602,539
2007 $3,391,122,887 $23,797,773,024
2006 $3,215,307,901 $19,741,420,740
2005 $3,097,946,371 $17,362,857,684
2004 $2,710,331,785 $13,686,329,890
2003 $2,149,632,433 $12,045,638,352
2002 $1,393,945,031 $13,606,515,723
2001 $1,502,870,486 $20,898,761,742
2000 $1,697,161,558 $22,823,270,892
1999 $1,547,888,496 $23,983,945,191
1998 $1,576,908,856 $25,385,886,978
1997 $1,716,714,070 $23,969,739,234
1996 $1,602,741,834 $20,515,458,114
1995 $1,698,989,464 $19,297,663,097
1994 $1,419,294,254 $17,474,588,896
1993 $1,357,189,552 $15,002,136,971
1992 $1,284,759,928 $12,878,148,791
1991 $1,156,135,718 $11,206,176,651
1990 $1,114,694,041 $9,298,807,850
1989 $696,921,542 $8,438,951,476
1988 $692,026,455 $8,213,538,369
1987 $584,126,092 $7,367,494,080
1986 $449,140,318 $5,880,112,788
1985 $360,079,419 $4,732,017,873
1984 $494,483,409 $4,850,238,550
1983 $555,336,146 $5,102,276,308
1982 $537,568,059 $9,178,780,077
1981 $570,774,825 $11,048,301,421
1980 $541,976,853 $10,163,020,116
1979 $412,093,134 $7,181,182,224
1978 $340,630,085 $4,910,254,566
1977 $304,060,076 $4,114,670,014
1976 $272,550,068 $3,667,161,241
1975 $288,299,789 $3,538,278,047
1974 $264,320,941 $4,090,209,682
1973 $221,915,128 $3,964,296,443
1972 $146,736,479 $2,189,418,689
1971 $136,462,081 $2,807,258,065
1970 $112,139,955 $2,137,096,774
1969 $105,419,958 $2,004,435,484
1968 $79,799,968 $1,593,674,185
1967 $74,759,970 $1,597,713,469
1966 $76,859,969 $1,809,185,094
1965 $70,279,972 $1,890,767,156
1964 $64,980,554 $1,975,701,816
1963 $54,129,438 $1,539,681,491
1962 $45,927,962 $1,710,004,407
1961 $43,026,043 $1,547,388,781
1960 $35,076,846 $1,242,289,239

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Eswatini vs Uruguay by year

Eswatini
GDP per capita

GDP per capita, PPP
Uruguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Uruguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,108 - $25,216 -
2024 $3,910 $11,799 $24,308 $36,418
2023 $3,756 $11,300 $23,379 $34,471
2022 $3,894 $10,635 $21,009 $33,001
2021 $3,984 $9,990 $17,882 $29,432
2020 $3,467 $9,329 $15,758 $25,725
2019 $3,913 $9,248 $18,316 $25,783
2018 $3,973 $8,535 $19,250 $24,386
2017 $3,853 $8,584 $19,185 $23,607
2016 $3,238 $8,484 $17,010 $22,841
2015 $3,420 $8,391 $17,126 $22,169
2014 $3,771 $8,366 $18,322 $21,868
2013 $3,950 $8,231 $18,335 $20,661
2012 $4,225 $7,760 $16,260 $19,495
2011 $4,225 $7,571 $15,132 $19,135
2010 $3,923 $7,324 $12,641 $17,873
2009 $3,190 $7,011 $9,881 $16,422
2008 $2,947 $6,914 $9,424 $15,694
2007 $3,109 $6,732 $7,222 $14,397
2006 $2,965 $6,319 $6,001 $13,179
2005 $2,871 $5,773 $5,284 $12,296
2004 $2,526 $5,310 $4,169 $11,103
2003 $2,015 $5,020 $3,671 $10,303
2002 $1,316 $4,742 $4,150 $10,030
2001 $1,430 $4,521 $6,383 $10,719
2000 $1,630 $4,401 $6,988 $10,929
1999 $1,502 $4,272 $7,371 $10,938
1998 $1,547 $4,137 $7,837 $11,002
1997 $1,705 $4,038 $7,436 $10,461
1996 $1,619 $3,916 $6,398 $9,524
1995 $1,751 $3,777 $6,050 $8,906
1994 $1,461 $3,526 $5,508 $8,897
1993 $1,397 $3,371 $4,753 $8,162
1992 $1,362 $3,289 $4,102 $7,808
1991 $1,273 $3,236 $3,589 $7,112
1990 $1,278 $3,202 $2,995 $6,683
1989 $832 - $2,734 -
1988 $865 - $2,677 -
1987 $765 - $2,416 -
1986 $611 - $1,939 -
1985 $510 - $1,568 -
1984 $726 - $1,615 -
1983 $843 - $1,707 -
1982 $843 - $3,085 -
1981 $925 - $3,728 -
1980 $908 - $3,443 -
1979 $714 - $2,443 -
1978 $610 - $1,678 -
1977 $563 - $1,414 -
1976 $521 - $1,268 -
1975 $568 - $1,232 -
1974 $536 - $1,433 -
1973 $463 - $1,397 -
1972 $315 - $776 -
1971 $301 - $1,000 -
1970 $254.2 - $766 -
1969 $245.2 - $723 -
1968 $190.4 - $579 -
1967 $182.8 - $585 -
1966 $192.7 - $668 -
1965 $181 - $705 -
1964 $171.6 - $745 -
1963 $146.4 - $587 -
1962 $127.1 - $659 -
1961 $121.8 - $604 -
1960 $101.6 - $491 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Eswatini's GDP per capita is $4,108, ranking 131/197, compared to $25,216 in Uruguay, ranking 54/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Uruguay ranks 61st at $36,418.

Economic indicators

Eswatini Uruguay
Gross domestic product
$5.16B
2025
$85.3B
2025
GDP rank
163/197
2025
84/197
2025
GDP growth
4.19%
2024-2025
1.78%
2024-2025
GDP per capita
$4,108
2025
$25,216
2025
GDP per capita rank
131/197
2025
54/197
2025
GDP per capita, PPP
$11,799
2024
$36,418
2024
GDP per capita PPP rank
126/197
2024
61/197
2024
Government debt
$2.31B
2025
$56B
2025
Debt-to-GDP ratio
44.9%
2025
65.7%
2025
Government debt per person
$1,843
2025
$16,559
2025
Government debt per person rank
121/185
2025
41/185
2025
Average annual personal income after taxes
$4,770
2026
$14,046
2026
Market capitalization of domestic companies
$234M
2007
$284M
1996
Number of billionaires
1
2026
n/a
Income share by richest 10%
42.7%
2016
30%
2024
Income share by poorest 10%
1.4%
2016
2.2%
2024
Government expenditure, % of GDP
35.7%
2025
31.5%
2025
Consumer prices inflation
2.6%
2018-2019
4.65%
2024-2025
Central bank interest rate
6.75%
2025
5.75%
2026
Unemployment rate
34.3%
2023
8.21%
2024
Population
1276995
3382672

Spending and national debt comparison by year

Eswatini
Spending

Debt
Uruguay
Spending

Debt
1x
Year % of GDP
Eswatini Uruguay
Government spending Government debt Government spending Government debt
2025 35.7% 44.9% 31.5% 65.7%
2024 33.6% 40.1% 30.6% 67.6%
2023 31.5% 39.4% 30.1% 63%
2022 28.9% 39.5% 29.7% 59.4%
2021 29.3% 37.3% 30.2% 64.1%
2020 32.2% 37.7% 32.8% 68.2%
2019 32.8% 30.5% 30.6% 59.6%
2018 31.6% 26.5% 30.3% 57.9%
2017 33.6% 21.7% 29.7% 55.8%
2016 34% 20.1% 29.7% 56.4%
2015 34.5% 16% 28.4% 57.8%
2014 32.7% 14.1% 29.1% 51.1%
2013 28.8% 15.2% 28.8% 50%
2012 27.1% 14.8% 27.7% 49.8%
2011 25.1% 14.6% 26.3% 41.3%
2010 31.1% 14.2% 27.4% 40.9%
2009 33.9% 10.6% 27.2% 46.2%
2008 33.4% 14.6% 26.3% 46.2%
2007 30.4% 16.1% 26.8% 52.8%
2006 27.6% 14.7% 26.8% 61.1%
2005 29% 13.6% 26.3% 66.2%
2004 31% 15% 26.6% 73.7%
2003 25.9% 17.7% 27.7% 91.9%
2002 26.5% 17.2% 27.6% 90.1%
2001 25.6% 21.7% 27.8% 39.4%
2000 24.7% 18.2% 26.6% 30.5%
1999 25.8% 16.7% 27.2% 24.1%
1998 22% 15.6% 27.3% 19.4%
1997 20.7% 12.7% 27.6% 18.8%
1996 22.5% 11.5% 26.5% 18.3%
1995 19.9% 12.5% 26.2% 18.5%
1994 23.4% 13.1% 29.5% 19.3%
1993 23% 15% 27.7% 20%
1992 24.7% 16.6% 23.6% 22.2%
1991 19.6% 20.1% 22.2% 20.4%
1990 18.2% 20.4% 21.1% 26.2%
1989 15.8% 26.8% 37% -
1988 15.6% 27.5% 26% 34.8%
1987 17% 36.1% 24.4% 37.3%
1986 19.8% 44% 25.1% 34.6%
1985 22.3% 45.5% 24.6% 29%
1984 22.2% 29.7% 25.6% 39.5%
1983 23.2% 28.7% 26.5% 21.2%
1982 24% 29.2% 29.5% 13.5%
1981 23.8% 24.3% 25% 4.32%
1980 19.6% 27.2% 21.8% 4.59%
1979 - - 20.2% 3.98%
1978 - - 22.9% 5.64%
1977 - - 23.5% 7.26%
1976 - - 24.2% 8.67%
1975 - - 23% 8.13%
1974 - - 23.8% 7.61%
1973 - - 22.6% 7%
1972 - - 24.6% 9.12%
1971 - - 20.1% 9.3%
1970 - - 15.1% 6.11%
1969 - - 14.6% -
1968 - - 14.1% -
1967 - - 14.7% -
1966 - - 14.1% -
1965 - - 15.6% -
1964 - - 14.3% -
1963 - - 14.6% -
1962 - - 16% -
1961 - - 13% -
1960 - - 9.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1998, retrieved 2026-07-08).

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

In 2025, Eswatini's government spending was $1.84B, accounting for 35.7% of its GDP, while Uruguay spent $26.9B, or 31.5% of GDP.

Debt-to-GDP ratio is 44.9% in Eswatini and 65.7% in Uruguay, ranking 118/185 and 66/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Uruguay
1x
Year Deficit/surplus, % of GDP
Eswatini Uruguay
2025 -6.14% -3.36%
2024 -1.06% -3.16%
2023 -0.66% -3.09%
2022 -5.27% -2.5%
2021 -4.55% -2.61%
2020 -4.21% -4.64%
2019 -6.23% -2.71%
2018 -6.59% -1.89%
2017 -5.64% -2.51%
2016 -8.36% -2.68%
2015 -5.89% -1.86%
2014 -1.16% -2.6%
2013 0.57% -1.72%
2012 3.39% -2.17%
2011 -3.88% -0.33%
2010 -9.34% -0.39%
2009 -3% -1.39%
2008 1.58% -1.31%
2007 2.37% -0.16%
2006 8.67% -0.64%
2005 -1.66% -0.28%
2004 -3.97% -0.87%
2003 -2.11% -2.19%
2002 -3.69% -3.19%
2001 -2.24% -2.85%
2000 -1.19% -2.76%
1999 -1.23% -2.76%
1998 1.05% -0.76%
1997 2.06% -0.97%
1996 -0.97% -1.32%
1995 0.87% -1.08%
1994 -3.43% -2.37%
1993 -3.15% -0.47%
1992 -2.76% 0.6%
1991 3.28% 0.88%
1990 5.47% 0.49%
1989 5.82% -13.1%
1988 3.23% -1.47%
1987 2.03% -0.66%
1986 -2.41% -0.34%
1985 -1.33% -1.88%
1984 1.25% -4.94%
1983 -0.6% -3.54%
1982 0.11% -8.22%
1981 -4.29% -1.15%
1980 6.55% 0.43%
1979 - 0.99%
1978 - -0.47%
1977 - -0.69%
1976 - -2.01%
1975 - -4.38%
1974 - -3.74%
1973 - -1.09%
1972 - -2.25%
1971 - -5.86%
1970 - -1.33%
1969 - -2.37%
1968 - -2.93%
1967 - -4.12%
1966 - -2.01%
1965 - -5.14%
1964 - -3.61%
1963 - -4.4%
1962 - -5.02%
1961 - -0.86%
1960 - 0.79%
1959 - 0.64%
1958 - -1.38%
1957 - -0.72%
1956 - 0.04%
1955 - -1.24%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1955–1998, retrieved 2026-07-08).

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

In 2025, Eswatini's government deficit, the difference between spending and revenue, was $317M, equivalent to 6.14% of GDP. This compares to Uruguay's deficit of $2.86B, or 3.36% of GDP.

Over the past 46 years, Eswatini recorded a fiscal deficit in 30 of those years, while Uruguay ran a deficit in 42 years. On average, Eswatini posted an annual deficit equal to 1.28% of GDP, compared to deficit of 2.1% of GDP for Uruguay.

Inflation comparison by year

Inflation
Eswatini

Uruguay
1x
Year Consumer prices inflation
Eswatini Uruguay
2025 - 4.65%
2024 - 4.85%
2023 - 5.87%
2022 - 9.1%
2021 - 7.75%
2020 - 9.76%
2019 2.6% 7.88%
2018 4.82% 7.61%
2017 6.22% 6.22%
2016 7.85% 9.64%
2015 4.95% 8.67%
2014 5.68% 8.88%
2013 5.62% 8.58%
2012 8.94% 8.1%
2011 6.11% 8.09%
2010 4.51% 6.7%
2009 7.45% 7.06%
2008 12.7% 7.88%
2007 8.08% 8.11%
2006 5.3% 6.4%
2005 4.77% 4.7%
2004 3.45% 9.16%
2003 7.29% 19.4%
2002 12% 14%
2001 5.94% 4.36%
2000 12.2% 4.76%
1999 6.09% 5.66%
1998 8.11% 10.8%
1997 7.13% 19.8%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 8.8% in Uruguay. In 2019, inflation was 2.6% in Eswatini and 4.65% in Uruguay.

Balance of trade

Eswatini Uruguay
Current account balance
$78.3M
2024
-$374M
2025
Current account balance ranking
65/190
2024
100/190
2025
Current account balance, % of GDP
+1.61%
2024
-0.44%
2025
Goods imports
$2.07B
2024
$13.6B
2025
Goods exports
$2.33B
2024
$16.1B
2025
Service imports
$542M
2024
$5.96B
2025
Service exports
$234M
2024
$7.39B
2025
Imports of goods and services, % of GDP
53.7%
2024
22.6%
2025
Exports of goods and services, % of GDP
53.8%
2024
27.1%
2025

Economic freedom indices

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

Eswatini Uruguay
Economic freedom 57.5 69.8
Economic freedom ranking 116/197 39/197
Property rights 42.5 87.4
Government integrity 29.7 79
Judicial effectiveness 35.5 80.9
Tax burden 78.6 73.3
Government spending 71 72
Fiscal health 87.5 76.6
Business freedom 49.9 83.8
Labor freedom 55.2 61.7
Monetary freedom 76.8 70.2
Trade freedom 73.6 73.2
Investment freedom 50 50
Financial freedom 40 30

Economic freedom comparison by year

Eswatini
Uruguay
1x
Year Economic freedom index
Eswatini Uruguay
2026 57.5 69.8
2025 56.4 70.2
2024 55.6 69.8
2023 54.9 70.2
2022 51.4 70
2021 55.1 69.3
2020 55.3 69.1
2019 54.7 68.6
2018 55.9 69.2
2017 61.1 69.7
2016 59.7 68.8
2015 59.9 68.6
2014 61.2 69.3
2013 57.2 69.7
2012 57.2 69.9
2011 59.1 70
2010 57.4 69.8
2009 59.1 69.1
2008 58.4 67.9
2007 60.1 68.4
2006 61.4 65.3
2005 59.4 66.9
2004 58.6 66.7
2003 59.6 69.8
2002 60.9 68.7
2001 63.6 70.7
2000 62.6 69.3
1999 62.1 68.5
1998 62 68.6
1997 59.4 67.5
1996 58.6 63.7
1995 63.3 62.5

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 69.8 for Uruguay, ranking 39/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Uruguay
Services, % of GDP
52.4%
2025
65.2%
2025
Industry, % of GDP
33.6%
2025
16.9%
2025
Agriculture, forestry, and fishing, % of GDP
6.41%
2025
6.38%
2025
GNI, Atlas method
$4.69B
2025
$81.3B
2025
GNI per capita, PPP
$11,390
2025
$36,330
2025
Total reserves including gold
$537M
2024
$19B
2025
Total reserves ranking
157/177
2024
67/177
2025
Net foreign direct investment
-$11.8M
2024
-$457M
2025
Net inflows of foreign direct investment
$75.5M
2024
-$3.94B
2024
Net outflows of foreign direct investment
$63.8M
2024
-$1.37B
2024
Servicing debt to the IMF, % of GNI
4.88%
2024
n/a
Poverty at national poverty lines
58.9%
2016
17.3%
2024
Gross capital formation, % of GDP
15%
2024
16.2%
2025

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/uruguay | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1955–1998, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, 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.