Eswatini - Economy
How is the economy of Eswatini? Based on the information we have, Eswatini has a landlocked southern African economy; South African trade dependent and currency pegging; CMA and SACU member state; COVID-19 economic slowdown; growing utilities inflation; persistent poverty and unemployment; HIV/AIDS labor force disruptions. Key agricultural products in this country include: sugarcane, maize, root vegetables, grapefruits, oranges, milk, pineapples, bananas, beef, potatoes (2022).
More about the economy of Eswatini
| Labor force | 405,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 1.53% (2023 est.) |
| Industries | soft drink concentrates, coal, forestry, sugar processing, textiles, and apparel |
| Population below poverty line | 58.9% (2016 est.) |
| Taxes and other revenues | 24.13% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | emalangeni per US dollar - |
| Exchange rates 2023 | 18.454 (2023 est.) |
| Exchange rates 2022 | 16.362 (2022 est.) |
| Exchange rates 2021 | 14.783 (2021 est.) |
| Exchange rates 2020 | 16.47 (2020 est.) |
| Exchange rates 2019 | 14.452 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $758.868 million (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $479.261 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $452.352 million (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $572.282 million (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$140.972 million (2022 est.) |
| Current account balance 2021 | $125.318 million (2021 est.) |
| Current account balance 2020 | $270.942 million (2020 est.) |
| Public debt | |
| Public debt 2021 | 35.4% of GDP (2021 est.) |
| Budget | |
| Revenues | $1.217 billion (2021 est.) |
| Expenditures | $1.183 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 2.62% of GDP (2023 est.) |
| Remittances 2022 | 2.64% of GDP (2022 est.) |
| Remittances 2021 | 2.72% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.4% (2016 est.) |
| Highest 10% | 42.7% (2016 est.) |
| Imports | |
| Imports 2022 | $2.288 billion (2022 est.) |
| Imports 2021 | $2.173 billion (2021 est.) |
| Imports 2020 | $1.686 billion (2020 est.) |
| Imports (partners) | South Africa 76%, China 4%, US 3%, Mozambique 3%, Mauritania 3% (2022) |
| Comodities Imports force | refined petroleum, gold, plastic products, electricity, garments (2022) |
| Exports | |
| Imports 2022 | $2.288 billion (2022 est.) |
| Imports 2021 | $2.173 billion (2021 est.) |
| Imports 2020 | $1.686 billion (2020 est.) |
| Exports (partners) | South Africa 66%, Kenya 5%, Nigeria 3%, Democratic Republic of the Congo 3%, Mozambique 3% (2022) |
| Comodities Exports force | scented mixtures, raw sugar, garments, industrial acids/oils/alcohols, wood (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $12.814 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $12.222 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $12.164 billion (2021 est.) |
| GDP (official exchange rate) | $4.598 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $10,600 (2023 est.) |
| Real GDP per capita 2022 | $10,200 (2022 est.) |
| Real GDP per capita 2021 | $10,200 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 8.1% (2023 est.) |
| Industry | 33.5% (2023 est.) |
| Services | 53.5% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 61.7% (2022 est.) |
| Government consumption | 17.6% (2022 est.) |
| Investment in fixed capital | 11.8% (2022 est.) |
| Exports of goods and services | 43.8% (2022 est.) |
| Imports of goods and services | -47.6% (2022 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 37.64% (2023 est.) |
| Unemployment rate 2022 | 37.85% (2022 est.) |
| Unemployment rate 2021 | 35.71% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 65% (2023 est.) |
| Male | 62.4% (2023 est.) |
| Female | 67.5% (2023 est.) |
All Important Facts about Eswatini
Want to know more about Eswatini? Check all different factbooks for Eswatini below.
