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Macro

Eswatini

Sub-Saharan Africa · Lower middle income · IMF WEO April 2026 · World Bank WDI

GDP▲ 6.4%
Current prices2025
5USD bn
GDP per capita▲ 5.3%
Current prices2025
4,442USD
Real GDP growth▲ 0.6 pp
Annual change2025
3.6%
Inflation▼ 1.0 pp
Average consumer prices2025
3.1%
Government debt▲ 4.8 pp
General government, gross2025
44.9% of GDP
Current account▼ 2.2 pp
Balance2025
-0.6% of GDP
Population▲ 1.1%
Total2025
1.16million

Real GDP growth, %

Since 1995 · lighter bars = IMF projection
-3.00.06.41995: 4.8%1996: 3.8%1997: 3.1%1998: 2.6%1999: 3.0%2000: 1.8%2001: 1.1%2002: 4.4%2003: 3.9%2004: 3.6%2005: 6.0%2006: 6.0%2007: 4.4%2008: 0.8%2009: 1.6%2010: 3.8%2011: 2.2%2012: 5.4%2013: 3.9%2014: 2.1%2015: 1.7%2016: 2.9%2017: 3.5%2018: 0.1%2019: 6.4%2020: -3.0%2021: 4.2%2022: 0.4%2023: 3.5%2024: 3.0%2025: 3.6%2026: 4.0% (IMF projection)2027: 3.5% (IMF projection)2028: 2.9% (IMF projection)2029: 2.9% (IMF projection)2030: 2.8% (IMF projection)2031: 2.7% (IMF projection)IMF projection19952000200520102015202020252030

Inflation, %

Average consumer prices · lighter bars = IMF projection
0.012.71995: 12.3%1996: 6.4%1997: 7.9%1998: 7.5%1999: 5.9%2000: 9.9%2001: 7.5%2002: 11.9%2003: 7.3%2004: 3.5%2005: 4.9%2006: 5.2%2007: 8.1%2008: 12.7%2009: 7.4%2010: 4.5%2011: 6.1%2012: 8.9%2013: 5.6%2014: 5.7%2015: 5.0%2016: 7.8%2017: 6.2%2018: 4.8%2019: 2.6%2020: 3.9%2021: 3.7%2022: 4.8%2023: 4.9%2024: 4.0%2025: 3.1%2026: 3.5% (IMF projection)2027: 3.8% (IMF projection)2028: 3.4% (IMF projection)2029: 3.2% (IMF projection)2030: 3.0% (IMF projection)2031: 3.0% (IMF projection)IMF projection19952000200520102015202020252030

IMF outlook

IMF World Economic Outlook April 2026 · italics = IMF projection
Indicator2021202220232024202520262027202820292030
Real GDP growth %4.20.43.53.03.64.03.52.92.92.8
Inflation, average consumer prices %3.74.84.94.03.13.53.83.43.23.0
GDP, current prices USD bn5555566667
GDP per capita, current prices USD4,3174,2164,0604,2204,4424,9275,0165,1535,3335,519
GDP per capita, PPP Int. USD10,82511,51412,22912,76613,45614,24514,89815,41715,97016,535
General government gross debt % of GDP37.339.539.440.144.950.052.754.055.755.9
General government net lending/borrowing % of GDP-4.6-5.3-0.7-1.1-6.1-6.9-5.1-4.1-3.5-3.1
Current account balance % of GDP2.6-2.72.21.6-0.6-1.8-0.5-0.10.40.6
Population million1.111.131.141.151.161.181.191.201.211.23

Government debt, % of GDP

General government gross debt
0.055.92000: 18%2001: 22%2002: 17%2003: 18%2004: 15%2005: 14%2006: 15%2007: 16%2008: 15%2009: 11%2010: 14%2011: 15%2012: 15%2013: 15%2014: 14%2015: 16%2016: 20%2017: 22%2018: 26%2019: 30%2020: 38%2021: 37%2022: 39%2023: 39%2024: 40%2025: 45%2026: 50% (IMF projection)2027: 53% (IMF projection)2028: 54% (IMF projection)2029: 56% (IMF projection)2030: 56% (IMF projection)2031: 56% (IMF projection)IMF projection2000200520102015202020252030

Current account, % of GDP

Balance of payments
-11.90.013.52000: -2.7%2001: 0.6%2002: 2.4%2003: 4.2%2004: 2.7%2005: -3.3%2006: -6.2%2007: -1.9%2008: -7.2%2009: -11.9%2010: -9.0%2011: -6.0%2012: 5.2%2013: 11.2%2014: 11.9%2015: 13.5%2016: 8.1%2017: 6.2%2018: 1.4%2019: 3.8%2020: 6.8%2021: 2.6%2022: -2.7%2023: 2.2%2024: 1.6%2025: -0.6%2026: -1.8% (IMF projection)2027: -0.5% (IMF projection)2028: -0.1% (IMF projection)2029: 0.4% (IMF projection)2030: 0.6% (IMF projection)2031: 0.9% (IMF projection)IMF projection2000200520102015202020252030

Economic structure

Value added by sector, % of GDP · World Bank
AgricultureManufacturingOther industryServices
YearStructureAgricultureIndustryManufacturingServices
199510.137.732.836.1
20059.041.034.445.9
20157.437.031.749.2
20256.433.628.152.4

Income, trade and society

World Bank WDI · change over 10 years
IndicatorLatestUnitYear10Y change
GNI per capita, Atlas method3,730USD2025+5.4%
GNI, Atlas method5USD bn2025+15.8%
Exports of goods and services53.8% of GDP2024+8.4 pp
Imports of goods and services53.7% of GDP2024+7.4 pp
Life expectancy at birth64.3years2024+20.1%
Urban population26.7% of total2025+3.5 pp

Sources: IMF World Economic Outlook (April 2026; 2026 onwards are IMF projections) · World Bank World Development Indicators (CC BY 4.0)