Overview

The Kingdom of Eswatini is an independent Monarchy, rich in traditions and heritage, led by King Mswati III, since 1986, as Executive Head of State with parliament and consultation prescribing laws and Customs. Eswatini is a Kingdom in Southern Africa, and covers an area of 17,363 square kilometres. Eswatini is virtually homogenous, most of the population being of the same tribe. Economically, Eswatini trades mainly with South Africa, which receives almost half of Swazi exports and supplies most of its imports.

The valley of heaven "the Ezulwini Valley" in the Highfield of Eswatini is home to the major tourist attractions with exceptional scenic routes. Also found in the valley is a wildlife sanctuary covering 4,500hectares containing a wide variety of mammals, birds, tree plants.

Economic Indicators 2024¹

Capital City	Mbabane
Country size	17 364 km2
GDP at current prices (2024)	R82.4 billion
Population (2025)	1,217,041
Independence Day	6 September
Website	www.gov.sz
GDP per capita	R68,534
Real economic growth rate (2024)	3.0%
Annual inflation rate (2025)	3.2%
Merchandise imports (intra-SACU Trade) (2024)	R32.2 billion
Merchandise exports (intra-SACU Trade) (2024)	R29.1 billion
Imports to the Rest of the World (2024)	R49.2 billion
Exports to the Rest of the World (2024)	R45.1 billion

Economic Performance 2024

1. Economic activity rebounded in 2023 following the commodity price shocks in 2022. Real GDP increased by 3.4 percent in 2023 from 1.1 percent in 2022 buoyed by growth in the tertiary sector. Eswatini maintained a tighter monetary policy stance from 2022 to tame inflation and a contractionary fiscal policy remained anchored on the 3-year Fiscal Adjustment Plan 2021/22 – 2023/24 (FAP) set to restore macroeconomic stability. Inflation remained elevated, rising from 4.8 percent in 2022 to 5.0 percent in 2023 on account of sticky prices of food and energy, with pressures in inflation having peaked in the third quarter of 2022 into 2023 triggered by supply disruptions amid the intensifying Russia/Ukraine conflict.
2. Eswatini’s growth outlook is envisaged to remain positive in the short - medium term (2024 – 2027) supported mainly by supply factors, with growth averaging 4.7 percent buoyed by the secondary sector.