Eswatini External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Eswatini's external debt to gni was 29.29% in 2025, ranked 87th globally. This represents a 5.5% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Eswatini's external debt to gni stood at 29.29% in 2025, a rise of +1.54pp from 2024. Based on recent trends, this figure is projected to reach 29.29% by 2025. Eswatini ranked 87th globally.
Eswatini’s external debt-to‑GNI ratio stood at 29.29 % in 2025, placing the kingdom at 87th in the global ranking and just below peers such as Cameroon (29.74 %) and Niger (29.64 %). The indicator has fallen sharply from its all‑time peak of 38.01 % recorded in 1970, a level that reflected the post‑independence borrowing surge common to many low‑income economies. The subsequent decline reached a trough of 12.00 % in 2015, when fiscal consolidation and debt‑service relief programmes reduced external obligations to a historic low. Over the 41‑year coverage period, the ratio has oscillated, but the recent rebound to nearly 30 % suggests that external borrowing is once again being used to finance infrastructure and social spending, a pattern echoed in Vietnam’s current 28.14 % ratio. If fiscal discipline is maintained and debt‑management reforms are deepened, the upward trajectory could be tempered, allowing the ratio to stabilize below the current level.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 30.52% | - | - |
| 2026* trend | 29.91% | - | - |
| 2025* trend | 29.29% | - | - |
| 2025 | 29.29% | +1.54pp | #87 |
| 2024 | 27.75% | −0.84pp | #24 |
| 2023 | 28.59% | −0.00pp | #25 |
| 2022 | 28.59% | +1.94pp | #27 |
| 2021 | 26.66% | +1.01pp | #20 |
| 2020 | 25.65% | +5.48pp | #21 |
| 2019 | 20.17% | +2.45pp | #17 |
| 2018 | 17.72% | −3.22pp | #14 |
| 2017 | 20.94% | −0.81pp | #17 |
| 2016 | 21.75% | +9.75pp | #21 |
| 2015 | 12.00% | −1.11pp | #7 |
| 2014 | 13.11% | −4.56pp | #7 |
| 2013 | 17.67% | −1.22pp | #18 |
| 2012 | 18.90% | −4.05pp | #23 |
| 2011 | 22.95% | −1.19pp | #34 |
Detected Pattern
Analysis
Eswatini matched the Export Boom Cycle pattern in 2012. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Eswatini's external debt to gni was 29.29% in 2025. Ranked 87th globally. This represents a 5.5% increase from the previous year.
Eswatini's external debt to gni peaked at 38.01% in 1970.
The lowest external debt to gni in Eswatini was 12.00% in 2015.
Eswatini ranks 87th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Eswatini's external debt to gni is projected to reach 29.29% by 2025 based on trend extrapolation.
The external debt to gni of Eswatini in 2025 was 29.29%. This ranks 87th in the world.
Cite this page
@misc{historysaid_eswatini_external-debt-to-gni,
title = {Eswatini External Debt to GNI},
url = {https://historysaid.com/eswatini/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}