Economy - overview:
A small, landlocked kingdom, Eswatini is bordered in the north, west and south by the Republic of South Africa and by Mozambique in the east. Eswatini depends on South Africa for a majority of its exports and imports. Eswatini's currency is pegged to the South African rand, effectively relinquishing Eswatini's monetary policy to South Africa. The government is dependent on customs duties from the Southern African Customs Union (SACU) for almost half of its revenue. Eswatini is a lower middle income country. As of 2017, more than one-quarter of the adult population was infected by HIV/AIDS; Eswatini has the world’s highest HIV prevalence rate, a financial strain and source of economic instability.

The manufacturing sector diversified in the 1980s and 1990s, but manufacturing has grown little in the last decade. Sugar and soft drink concentrate are the largest foreign exchange earners, although a drought in 2015-16 decreased sugar production and exports. Overgrazing, soil depletion, drought, and floods are persistent problems. Mining has declined in importance in recent years. Coal, gold, diamond, and quarry stone mines are small scale, and the only iron ore mine closed in 2014. With an estimated 28% unemployment rate, Eswatini's need to increase the number and size of small and medium enterprises and to attract foreign direct investment is acute.

Eswatini's national development strategy, which expires in 2022, prioritizes increases in infrastructure, agriculture production, and economic diversification, while aiming to reduce poverty and government spending. Eswatini's revenue from SACU receipts are likely to continue to decline as South Africa pushes for a new distribution scheme, making it harder for the government to maintain fiscal balance without introducing new sources of revenue.

GDP (purchasing power parity):
$11.6 billion (2017 est.)
$11.41 billion (2016 est.)
$11.26 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 157
[see also: GDP country ranks ]

GDP (official exchange rate):
$4.417 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.6% (2017 est.)
1.4% (2016 est.)
0.4% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 168
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$10,100 (2017 est.)
$10,100 (2016 est.)
$10,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 139
[see also: GDP - per capita country ranks ]

Gross national saving:
25.4% of GDP (2017 est.)
29.7% of GDP (2016 est.)
23.3% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 59
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 64% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.3% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 13.4% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 47.9% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -46.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 6.5% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 45% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48.6% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
sugarcane, corn, cotton, citrus, pineapples, cattle, goats

Industries:
soft drink concentrates, coal, forestry, sugar processing, textiles, and apparel

Industrial production growth rate:
5.6% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 48
[see also: Industrial production growth rate country ranks ]

Labor force:
427,900 (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 157
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 10.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 58.9% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
28% (2014 est.)
28% (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 203
[see also: Unemployment rate country ranks ]

Population below poverty line:
63% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 40.1% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
50.4 (2001)
country comparison to the world (CIA rank, may be based on non-current data): 16
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 1.263 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.639 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
28.6% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 94
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-8.5% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 201
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
28.4% of GDP (2017 est.)
25.5% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 168
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
6.2% (2017 est.)
7.8% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 188
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7.25% (31 December 2016)
6.5% (31 December 2015)
country comparison to the world (CIA rank, may be based on non-current data): 43
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.75% (31 December 2017 est.)
10.25% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 77
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$554.3 million (31 December 2017 est.)
$439 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 168
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$554.3 million (31 December 2017 est.)
$439 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 172
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.144 billion (31 December 2017 est.)
$891.3 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 166
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$203.1 million (31 December 2007)
$199.9 million (31 December 2006)
NA
country comparison to the world (CIA rank, may be based on non-current data): 117
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$604 million (2017 est.)
$642 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 55
[see also: Current account balance country ranks ]

Exports:
$1.83 billion (2017 est.)
$1.577 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 145
[see also: Exports country ranks ]

Exports - partners:
South Africa 94% (2017)

Exports - commodities:
soft drink concentrates, sugar, timber, cotton yarn, refrigerators, citrus, and canned fruit

Imports:
$1.451 billion (2017 est.)
$1.266 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 175
[see also: Imports country ranks ]

Imports - commodities:
motor vehicles, machinery, transport equipment, foodstuffs, petroleum products, chemicals

Imports - partners:
South Africa 81.6%, China 5.2% (2017)

Reserves of foreign exchange and gold:
$563.1 million (31 December 2017 est.)
$564.4 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 147
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$526.3 million (31 December 2017 est.)
$468.9 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 178
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
emalangeni per US dollar -
14.44 (2017 est.)
14.6924 (2016 est.)
14.6924 (2015 est.)
12.7581 (2014 est.)
10.8469 (2013 est.)