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Economy of Eswatini vs Yemen compared: GDP & Debt

Updated on by Georank team

Eswatini has a GDP of $4.86B compared to $21.6B for Yemen, ranking 162/197 and 125/197 by economy size, respectively.

Eswatini has $1.93B in government debt (39.8% of GDP), compared to $18.8B (70.9% of GDP) in Yemen.

Eswatini vs Yemen GDP by year

Eswatini
Yemen
1x
Year GDP, current $
Eswatini Yemen
2024 $4,858,885,841 -
2023 $4,621,191,262 -
2022 $4,746,660,274 -
2021 $4,807,069,277 -
2020 $4,134,677,810 -
2019 $4,617,018,959 -
2018 $4,643,751,059 $21,606,160,663
2017 $4,462,640,651 $26,842,229,045
2016 $3,722,306,117 $31,317,825,274
2015 $3,908,217,914 $42,444,490,074
2014 $4,285,065,665 $43,228,585,321
2013 $4,463,396,204 $40,415,233,436
2012 $4,747,813,067 $35,401,331,610
2011 $4,722,912,047 $32,726,417,878
2010 $4,360,714,359 $30,906,749,533
2009 $3,525,213,502 $25,130,278,213
2008 $3,235,921,171 $26,910,855,807
2007 $3,391,122,887 $21,650,528,674
2006 $3,215,307,901 $19,063,143,370
2005 $3,097,946,371 $16,731,566,717
2004 $2,710,331,785 $13,867,634,371
2003 $2,149,632,433 $11,777,532,662
2002 $1,393,945,031 $10,693,430,511
2001 $1,502,870,486 $9,852,990,693
2000 $1,697,161,558 $9,679,316,770
1999 $1,547,888,496 $7,639,325,296
1998 $1,576,908,856 $6,322,175,566
1997 $1,716,714,070 $6,838,298,531
1996 $1,602,741,834 $6,496,163,616
1995 $1,698,989,464 $12,796,345,679
1994 $1,419,294,254 $28,019,483,764
1993 $1,357,189,552 $21,736,802,664
1992 $1,284,759,928 $17,959,367,194
1991 $1,156,135,718 $14,665,445,462
1990 $1,114,694,041 $12,643,821,569
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/yemen | CC BY

GDP per capita in Eswatini vs Yemen by year

Eswatini
GDP per capita

GDP per capita, PPP
Yemen
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eswatini Yemen
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $3,910 $11,799 - -
2023 $3,756 $11,300 - -
2022 $3,894 $10,635 - -
2021 $3,984 $9,990 - -
2020 $3,467 $9,329 - -
2019 $3,913 $9,248 - -
2018 $3,973 $8,535 $634 -
2017 $3,853 $8,584 $811 -
2016 $3,238 $8,484 $975 -
2015 $3,420 $8,391 $1,362 -
2014 $3,771 $8,366 $1,430 -
2013 $3,950 $8,231 $1,379 $3,164
2012 $4,225 $7,760 $1,245 $3,005
2011 $4,225 $7,571 $1,186 $3,113
2010 $3,923 $7,324 $1,155 $3,603
2009 $3,190 $7,011 $969 $3,411
2008 $2,947 $6,914 $1,072 $3,370
2007 $3,109 $6,732 $890 $3,294
2006 $2,965 $6,319 $810 $3,205
2005 $2,871 $5,773 $734 $3,113
2004 $2,526 $5,310 $628 $2,949
2003 $2,015 $5,020 $549 $2,844
2002 $1,316 $4,742 $513 $2,768
2001 $1,430 $4,521 $487 $2,702
2000 $1,630 $4,401 $493 $2,624
1999 $1,502 $4,272 $401 $2,492
1998 $1,547 $4,137 $343 $2,442
1997 $1,705 $4,038 $383 $2,351
1996 $1,619 $3,916 $375 $2,268
1995 $1,751 $3,777 $764 $2,201
1994 $1,461 $3,526 $1,735 $2,115
1993 $1,397 $3,371 $1,397 $2,013
1992 $1,362 $3,289 $1,198 $1,963
1991 $1,273 $3,236 $1,016 $1,843
1990 $1,278 $3,202 $910 $1,742
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/yemen | CC BY

Eswatini's GDP per capita is $3,910, ranking 131/197, compared to $634 in Yemen, ranking 191/197. Adjusted for purchasing power (GDP per capita PPP), Eswatini ranks 126th at $11,799, while Yemen ranks 178th at $3,164.

Economic indicators

Eswatini Yemen
Gross domestic product
$4.86B
2024
$21.6B
2018
GDP rank
162/197
2024
125/197
2018
GDP growth
2.97%
2023-2024
0.75%
2017-2018
GDP per capita
$3,910
2024
$634
2018
GDP per capita rank
131/197
2024
191/197
2018
GDP per capita, PPP
$11,799
2024
$3,164
2013
GDP per capita PPP rank
126/197
2024
178/197
2013
Government debt
$1.93B
2024
$18.8B
2018
Debt-to-GDP ratio
39.8%
2024
70.9%
2024
Government debt per person
$1,554
2024
$551
2018
Government debt per person rank
130/185
2024
165/185
2018
Average annual personal income after taxes
$3,913
2026
$1,127
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
29.4%
2014
Income share by poorest 10%
1.4%
2016
3%
2014
Government expenditure, % of GDP
33.3%
2024
8.91%
2024
Consumer prices inflation
2.6%
2018-2019
33.9%
2023-2024
Central bank interest rate
6.75%
2025
n/a
Unemployment rate
34.6%
2023
13.5%
2014
Population
1273390
43325643

Spending and national debt comparison by year

Eswatini
Spending

Debt
Yemen
Spending

Debt
1x
Year % of GDP
Eswatini Yemen
Government spending Government debt Government spending Government debt
2024 33.3% 39.8% 8.91% 70.9%
2023 32% 40% 11.8% 77.9%
2022 29.6% 40.5% 12.2% 65.3%
2021 30.1% 38.4% 8.22% 75.9%
2020 32.7% 38.2% 10.6% 87%
2019 32.9% 30.7% 13.2% 91.5%
2018 32.2% 27% 14.3% 86.9%
2017 33.9% 21.9% 8.39% 83.8%
2016 34.7% 20.5% 16.1% 76.5%
2015 35.3% 16.4% 19.4% 57.7%
2014 33.3% 14.3% 27.8% 48.9%
2013 29.4% 15.5% 30.8% 48.4%
2012 27.8% 15.2% 36.2% 47.6%
2011 26% 15.1% 29.8% 45.7%
2010 31.6% 14.5% 30.2% 42.4%
2009 34.5% 10.8% 35.2% 49.8%
2008 34.4% 15% 41.2% 36.4%
2007 31.2% 16.6% 40.3% 40.4%
2006 28.2% 15% 37.4% 40.8%
2005 29.7% 13.9% 36.8% 43.8%
2004 32% 15.5% 34.2% 52.1%
2003 26.4% 18% 35.3% 56.8%
2002 27.2% 17.6% 30.8% 57.8%
2001 26.4% 22.4% 30.5% 60.6%
2000 25.3% 18.7% 31.7% 60.8%
1999 26.5% 17.2% 28.2% 96.1%
1998 22.5% 15.9% 34.3% 110.6%
1997 21.2% 13% 34.2% 74.2%
1996 23.3% 12% 30.7% 114.9%
1995 20.5% 12.9% 24.1% 84.1%
1994 24.7% 13.8% 25.2% 73.3%
1993 24% 15.6% 25.8% 76.7%
1992 26% 16.6% 24.6% 78%
1991 20.3% 20.1% 24.7% 82.7%
1990 18.7% 20.4% 26.6% 91.6%
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/yemen | CC BY

In 2024, Eswatini's government spending was $1.62B, accounting for 33.3% of its GDP, while Yemen spent $3.08B, or 8.91% of GDP.

Debt-to-GDP ratio is 39.8% in Eswatini and 70.9% in Yemen, ranking 134/185 and 55/185, respectively.

Government deficit by year

Deficit/surplus
Eswatini

Yemen
1x
Year Deficit/surplus, % of GDP
Eswatini Yemen
2024 -1.36% -2.48%
2023 -0.67% -5.63%
2022 -5.4% -2.15%
2021 -4.68% -0.89%
2020 -4.27% -4.3%
2019 -6.26% -5.89%
2018 -6.72% -7.85%
2017 -5.68% -4.9%
2016 -8.54% -8.51%
2015 -6.03% -8.75%
2014 -1.18% -4.14%
2013 0.59% -6.9%
2012 3.48% -6.32%
2011 -4.02% -4.51%
2010 -9.52% -4.06%
2009 -3.06% -10.2%
2008 1.63% -4.53%
2007 2.44% -7.18%
2006 8.88% 1.19%
2005 -1.7% -1.82%
2004 -4.1% -2.15%
2003 -2.15% -4.2%
2002 -3.78% -0.56%
2001 -2.31% 2.79%
2000 -1.22% 6.09%
1999 -1.27% 0.06%
1998 1.07% -7.77%
1997 2.11% -1.5%
1996 -1% -0.92%
1995 0.9% -5.74%
1994 -3.61% -14%
1993 -3.29% -12.8%
1992 -2.9% -10.9%
1991 3.4% -5.76%
1990 5.61% -10.3%
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/yemen | CC BY

In 2018, Eswatini's government deficit, the difference between spending and revenue, was $312M, equivalent to 6.72% of GDP. This compares to Yemen's deficit of $1.7B, or 7.85% of GDP.

Over the past 29 years, Eswatini recorded a fiscal deficit in 19 of those years, while Yemen ran a deficit in 25 years. On average, Eswatini posted an annual deficit equal to 1.45% of GDP, compared to deficit of 5.04% of GDP for Yemen.

Inflation comparison by year

Inflation
Eswatini

Yemen
1x
Year Consumer prices inflation
Eswatini Yemen
2024 - 33.9%
2023 - 0.9%
2022 - 29.5%
2021 - 31.5%
2020 - 21.7%
2019 2.6% 15.7%
2018 4.82% 33.6%
2017 6.22% 30.4%
2016 7.85% 21.3%
2015 4.95% 22%
2014 5.68% 8.2%
2013 5.62% 11%
2012 8.94% 9.9%
2011 6.11% 19.5%
2010 4.51% 11.2%
2009 7.45% 3.7%
2008 12.7% 19%
2007 8.08% 7.9%
2006 5.3% 10.8%
2005 4.77% 9.9%
2004 3.45% 12.5%
2003 7.29% 10.8%
2002 12% 12.2%
2001 5.94% 11.9%
2000 12.2% 11%
1999 6.09% 7.9%
1998 8.11% 11.5%
1997 7.13% 4.6%

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/yemen | CC BY

Over the past 23 years, Eswatini has recorded an average annual inflation rate of 6.86%, compared with 13.8% in Yemen. In 2019, inflation was 2.6% in Eswatini and 33.9% in Yemen.

Balance of trade

Eswatini Yemen
Current account balance
$78.3M
2024
-$2.42B
2016
Current account balance ranking
69/190
2024
148/190
2016
Current account balance, % of GDP
+1.61%
2024
-7.72%
2016
Goods imports
$2.07B
2024
$6.8B
2016
Goods exports
$2.33B
2024
$473M
2016
Service imports
$542M
2024
$1.46B
2016
Service exports
$234M
2024
$466M
2016
Imports of goods and services, % of GDP
53.7%
2024
47.3%
2018
Exports of goods and services, % of GDP
53.8%
2024
8.76%
2018

Economic freedom indices

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

Eswatini Yemen
Economic freedom 57.5 53.7
Economic freedom ranking 116/197 138/197
Property rights 42.5 3.5
Government integrity 29.7 6.2
Judicial effectiveness 35.5 9.9
Tax burden 78.6 93.7
Government spending 71 0
Fiscal health 87.5 71.2
Business freedom 49.9 31.3
Labor freedom 55.2 31.2
Monetary freedom 76.8 48.1
Trade freedom 73.6 67.4
Investment freedom 50 50
Financial freedom 40 30

Economic freedom comparison by year

Eswatini
Yemen
1x
Year Economic freedom index
Eswatini Yemen
2026 57.5 -
2025 56.4 -
2024 55.6 -
2023 54.9 -
2022 51.4 -
2021 55.1 -
2020 55.3 -
2019 54.7 -
2018 55.9 -
2017 61.1 -
2016 59.7 -
2015 59.9 53.7
2014 61.2 55.5
2013 57.2 55.9
2012 57.2 55.3
2011 59.1 54.2
2010 57.4 54.4
2009 59.1 56.9
2008 58.4 53.8
2007 60.1 54.1
2006 61.4 52.6
2005 59.4 53.8
2004 58.6 50.5
2003 59.6 50.3
2002 60.9 48.6
2001 63.6 44.3
2000 62.6 44.5
1999 62.1 43.3
1998 62 46.1
1997 59.4 48.4
1996 58.6 49.6
1995 63.3 49.8

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

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

The Economic Freedom Index for Eswatini is 57.5, ranking 116/197, compared to 53.7 for Yemen, ranking 138/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Eswatini Yemen
Services, % of GDP
51.4%
2024
41.8%
2018
Industry, % of GDP
34.7%
2024
25.4%
2018
Agriculture, forestry, and fishing, % of GDP
6.48%
2024
28.7%
2018
GNI, Atlas method
$4.46B
2024
$25.3B
2018
GNI per capita, PPP
$10,760
2024
$3,020
2013
Total reserves including gold
$479M
2023
$1.25B
2022
Total reserves ranking
159/177
2023
139/177
2022
Net foreign direct investment
-$11.8M
2024
$15.4M
2015
Net inflows of foreign direct investment
$75.5M
2024
-$371M
2019
Net outflows of foreign direct investment
$63.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.68%
2024
0.53%
2018
Poverty at national poverty lines
58.9%
2016
48.6%
2014
Gross capital formation, % of GDP
15%
2024
6.18%
2018

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/yemen | 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 (1980–1998, 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.