The forest in Swaziland

Swaziland Economic Data & Projections

Swaziland's Macroeconomic Analysis:

Nominal GDP of USD 4.3 billion in 2022.

Nominal GDP of USD 4.3 billion in 2022.

GDP per capita of USD 3,729 compared to the global average of USD 10,589.

GDP per capita of USD 3,729 compared to the global average of USD 10,589.

Average real GDP growth of 2.74% over the last decade.

Average real GDP growth of 5% over the last decade.

Share of the region's population
Share of the region's GDP

GDP by economic sector
GDP by type of expenditure

Main Economic Indicators

Economic growth

The economy recorded average annual growth of 2.74% in the decade to 2022. To read more about GDP growth in Swaziland, go to our dedicated page.

Fiscal policy

Swaziland's fiscal deficit averaged 3.3% of GDP in the decade to 2022. Find out more on our dedicated page.

Inflation

Inflation averaged 4.7% in the decade to 2022. Go to our Swaziland inflation page for extra insight.

Monetary Policy

Swaziland's monetary policy rate ended 2022 at 6.50%, up from 5.00% a decade earlier. See our Swaziland monetary policy page for additional details.

Exchange Rate

From end-2012 to end-2022 the lilangeni weakened by 50% vs the U.S. dollar. For more info on the lilangeni, click here.

Swaziland Economic Forecasts

Projections out to 2034.

33 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 3 expert analysts.

Want to get insight on the economic outlook for Swaziland in the coming years? FocusEconomics collects projections out to 2034 on 33 economic indicators for Swaziland from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Swaziland economy. To download a sample report on the Swaziland's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.

Swaziland Economic Indicators

2019 2020 2021 2022 2023
Population (million) 1.1 1.1 1.1 1.2 1.2
GDP (USD bn) 4.6 4.5 4.4 4.3 -
GDP per Capita (USD) 4,162 3,957 3,864 3,729 -
GDP (LCU bn) 65.0 65.6 70.1 73.0 -
Economic Growth (Nominal GDP, ann. var. %) 5.2 1.0 6.9 4.1 -
Economic Growth (Real GDP, ann. var. %) 3 -2 11 0 5
Fiscal Balance (% of GDP) -4.6 -2.4 -2.7 -4.1 1.5
Public Debt (% of GDP) 31.4 38.7 37.0 40.7 38.5
Inflation (CPI, ann. var. %, eop) 2.0 4.6 3.4 5.6 4.3
Inflation (CPI, ann. var. %, aop) 2.6 3.9 3.7 4.8 5.0
Policy Interest Rate (%, eop) 6.50 3.75 3.75 6.50 7.50
Exchange Rate (SZL per USD, eop) 14.00 14.71 15.94 17.01 18.46
Exchange Rate (LCU per USD, aop) 14.47 16.47 14.80 16.37 18.46
Current Account Balance (USD bn) 0.2 0.3 0.1 -0.1 0.1
Current Account Balance (% of GDP) 3.8 6.3 2.9 -3.0 -
Merchandise Trade Balance (USD bn) 2.6 2.4 1.2 0.6 1.7
Merchandise Exports (USD bn) 19.8 17.4 20.6 20.3 20.3
Merchandise Imports (USD bn) 17.2 15.0 19.4 19.7 18.6
Merchandise Exports (ann. var. %) 8.4 -12.2 18.4 -1.5 0.0
Merchandise Imports (ann. var. %) -4.7 -13.0 29.2 1.8 -5.5
Foreign Direct Investment (USD bn) 0.1 0.0 0.1 0.0 0.0
International Reserves (USD bn) 0.4 0.5 0.4 0.4 0.5
International Reserves (months of imports) 0.3 0.4 0.2 0.3 0.3
External Debt (USD bn) 0.8 1.0 1.2 1.2 1.2
External Debt (% of GDP) 18.0 21.5 26.8 29.1 -
Free Sample Report

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