Prices & public finance · Sub-Saharan Africa · Lower-middle income
Eswatini: prices, money and public finance
Inflation is 2.6% (2019). GDP deflator is -0.4% (2025), 190th of 209 in the world and 40th of 46 in Sub-Saharan Africa. Lending rate is 10.9% (2024), 53rd of 136 in the world and 21st of 36 in Sub-Saharan Africa.
Inflation
EswatiniSub-Saharan AfricaLower-middle incomeWorld
GDP deflator
EswatiniSub-Saharan AfricaLower-middle incomeWorld
14 indicators
Prices & public finance: Eswatini in detail
Latest reported value, world rank and rank within Sub-Saharan Africa; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| InflationInflation, consumer prices, annual % | 2.6%2019 | — | — | 12.2% | 4.5% | 2.6%2019 | −4.9 ppsince 2009 | 3.4% | 3.6% | 3.0% | |
| GDP deflatorInflation, GDP deflator, annual % | -0.4%2025 | 190/209 | 40/46 | 22.4% | 2.9% | 5.2% | −5.8 ppsince 2015 | 4.1% | 5.0% | 3.3% | |
| Lending rateLending interest rate, % | 10.9%2024 | 53/136 | 21/36 | 14.0% | 9.8% | 8.0% | +2.2 ppsince 2014 | — | — | — | |
| Real interest rateReal interest rate, % | 9.5%2024 | 27/136 | 11/36 | -6.9% | 6.6% | 2.7% | +6.7 ppsince 2014 | — | — | — | |
| Exchange rateOfficial exchange rate, local currency per US$ | 17.892025 | 95/210 | 40/47 | 6.94 | 7.32 | 16.47 | +40%since 2015 | — | — | — | |
| Tax revenueTax revenue, % of GDP | 24.3%2021 | 16/142 | 4/32 | 18.6% | 16.3% | 27.1% | +7.7 ppsince 2011 | — | 12.1% | 13.9% | |
| Government revenueGovernment revenue excluding grants, % of GDP | 25.1%2021 | 75/142 | 6/32 | 19.9% | 17.4% | 27.3% | +7.6 ppsince 2011 | — | 14.2% | 24.0% | |
| Government expenseGovernment expense, % of GDP | 24.6%2021 | 80/142 | 10/32 | 16.7% | 25.1% | 26.1% | +1.9 ppsince 2011 | — | 15.7% | 28.5% | |
| Government debtCentral government debt, % of GDP | 35.7%2021 | 58/78 | 8/15 | 22.7%1999 | 13.0% | 38.4% | +23.0 ppsince 2011 | — | — | — | |
| External debtExternal debt stocks, % of GNI | 27.8%2024 | 92/119 | 34/43 | 18.8% | 24.1% | 25.6% | +14.6 ppsince 2014 | — | 30.1% | — | |
| Private creditDomestic credit to private sector, % of GDP | 23.1%2025 | 122/169 | 10/42 | 11.2% | 19.5% | 21.0% | +1.8 ppsince 2015 | 31.7% | 38.7% | 140.3% | |
| Broad moneyBroad money, % of GDP | 28.4%2022 | 128/146 | 27/42 | 17.6% | 26.1% | 31.1% | +3.6 ppsince 2012 | 42.6% | 67.4% | 135.7% | |
| Reserves, months of importsTotal reserves in months of imports | 1.92024 | 134/165 | 24/32 | 2.8 | 3.0 | 3.0 | −45%since 2014 | 6.1 | 7.7 | 8.6 | |
| Military spendingMilitary expenditure, % of GDP | 1.60%2025 | 84/156 | 17/45 | 1.46% | 2.37% | 1.86% | −0.1 ppsince 2015 | 1.13% | 1.92% | 2.48% |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
- Inflation−4.9 pp2.6% in 2019
Worse than ten years ago
- Government debt+23.0 pp35.7% in 2021
- External debt+14.6 pp27.8% in 2024
- Reserves, months of imports−45%1.9 in 2024
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
Eswatini and its neighbours
Countries sharing a land border with Eswatini. Latest values since 2005; the highest in each row is marked.
| Indicator | Eswatini | South Africa | Mozambique |
|---|---|---|---|
| Inflation | 2.6%2019 | 3.2%2025 | 4.4%2025 |
| GDP deflator | -0.4%2025 | 2.8%2025 | -1.0%2025 |
| Lending rate | 10.9%2024 | 10.7%2025 | 17.5%2025 |
| Real interest rate | 9.5%2024 | 7.7%2025 | 18.7%2025 |
| Exchange rate | 17.892025 | 17.892025 | 63.912024 |
| Tax revenue | 24.3%2021 | 25.9%2024 | 21.8%2024 |
| Government revenue | 25.1%2021 | 29.4%2024 | 24.5%2024 |
| Government expense | 24.6%2021 | 33.4%2022 | 26.0%2022 |
| Government debt | 35.7%2021 | 82.8%2024 | 71.8%2024 |