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, sweet potatoes (2023).
More about the economy of Eswatini
| Labor force | 390,600 (2024 est.) |
|---|---|
| Industrial production growth rate | 0.5% (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 | 24.5% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | emalangeni per US dollar - |
| Exchange rates 2024 | 18.318 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2023 | $923.266 million (2023 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 2023 | $107.534 million (2023 est.) |
| Current account balance 2022 | -$140.972 million (2022 est.) |
| Current account balance 2021 | $125.318 million (2021 est.) |
| Public debt | |
| Public debt 2021 | 35.9% of GDP (2021 est.) |
| Budget | |
| Revenues | $1.217 billion (2021 est.) |
| Expenditures | $1.439 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 1.7% of GDP (2023 est.) |
| Remittances 2022 | 2.7% of GDP (2022 est.) |
| Remittances 2021 | 2.8% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.4% (2016 est.) |
| Highest 10% | 42.7% (2016 est.) |
| Imports | |
| Imports 2023 | $2.351 billion (2023 est.) |
| Imports 2022 | $2.288 billion (2022 est.) |
| Imports 2021 | $2.173 billion (2021 est.) |
| Imports (partners) | South Africa 71%, China 8%, India 4%, USA 2%, Mozambique 1% (2023) |
| Comodities Imports force | refined petroleum, electricity, plastic products, cotton fabric, garments (2023) |
| Exports | |
| Imports 2023 | $2.351 billion (2023 est.) |
| Imports 2022 | $2.288 billion (2022 est.) |
| Imports 2021 | $2.173 billion (2021 est.) |
| Exports (partners) | South Africa 61%, Ireland 4%, Mozambique 4%, Kenya 4%, Nigeria 3% (2023) |
| Comodities Exports force | scented mixtures, raw sugar, industrial acids/oils/alcohols, garments, wood (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $12.885 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $12.553 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $12.135 billion (2022 est.) |
| GDP (official exchange rate) | $4.892 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $10,400 (2024 est.) |
| Real GDP per capita 2023 | $10,200 (2023 est.) |
| Real GDP per capita 2022 | $10,000 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 6.8% (2023 est.) |
| Industry | 34.7% (2023 est.) |
| Services | 51.7% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 64% (2023 est.) |
| Government consumption | 19.5% (2023 est.) |
| Investment in fixed capital | 16.1% (2023 est.) |
| Investment in inventories | 3.1% (2023 est.) |
| Exports of goods and services | 48.7% (2023 est.) |
| Imports of goods and services | -51.4% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 34.4% (2024 est.) |
| Unemployment rate 2023 | 35.1% (2023 est.) |
| Unemployment rate 2022 | 35.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 58.2% (2024 est.) |
| Male | 56% (2024 est.) |
| Female | 60.3% (2024 est.) |
All Important Facts about Eswatini
Want to know more about Eswatini? Check all different factbooks for Eswatini below.
