Eswatini: Gross capital formation (constant 2015 US$)

Key figures

What the numbers say

In 2024, Eswatini's gross capital formation (constant 2015 US$) fell 22.4% on 2023 (from US$779.82 million to US$605.51 million).

Across the 10 yearly changes before that (2014 to 2023), the average change was +3.7% and a typical year strayed about 11.7% from that (the standard deviation). This year's change was 2.2 standard deviations below that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 20.6% in 2014 and the biggest yearly fall was 22.4% in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 10% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Eswatini had the 22nd highest value of the 31 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Eswatini in the 2024 ranking

• Bhutan — 19th of 31: US$1.4 billion
• Maldives — 20th of 31: US$948.67 million
• Bermuda — 21st of 31: US$872.17 million
• Timor-Leste — 23rd of 31: US$543.83 million
• Belize — 24th of 31: US$519.12 million
• Solomon Islands — 25th of 31: US$347.76 million

What this measures

Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 12 values

Gross capital formation (constant 2015 US$) in nearby economies

• Angola — US$17.12 billion (2024)
• Benin — US$5.97 billion (2025)
• Botswana — US$6.18 billion (2024)
• Burkina Faso — US$5.24 billion (2025)
• Cabo Verde — US$558.46 million (2025)
• Cameroon — US$9.05 billion (2025)
• Central African Republic — US$317.18 million (2025)
• Chad — US$3.25 billion (2025)
• Comoros — US$160.36 million (2025)
• Congo, Dem. Rep.

More economic policy & debt data for Eswatini

• Agriculture, forestry, and fishing, value added (current US$) — US$330.7 million (2025)
• Agriculture, forestry, and fishing, value added (current LCU) — 5.92 billion (2025)
• Agriculture, forestry, and fishing, value added (% of GDP) — 6.41% (2025)
• Gross Value Added (GVA) at basic prices (current US$) — US$4.77 billion (2025)
• Gross Value Added (GVA) at basic prices (current LCU) — 85.32 billion (2025)
• GDP (current US$) — US$5.16 billion (2025)
• GDP (current LCU) — 92.32 billion (2025)
• GDP per capita (current US$) — US$4,108 (2025)
• GDP per capita (current LCU) — 73,492 (2025)

Reading data like this

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Questions people ask

What is Eswatini's gross capital formation (constant 2015 US$)?

US$605.51 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2013?

It is up 5.39% from US$574.57 million in 2013 (0.48% a year on average, compounded). The highest value was US$791.97 million in 2017 and the lowest US$574.57 million in 2013.

How does Eswatini rank?

22nd highest of 31 economies with data for 2024.

Is the latest change in gross capital formation (constant 2015 US$) unusual for Eswatini?

In 2024, Eswatini's gross capital formation (constant 2015 US$) fell 22.4% on 2023 (from US$779.82 million to US$605.51 million). Across the 10 yearly changes before that (2014 to 2023), the average change was +3.7% and a typical year strayed about 11.7% from that (the standard deviation). This year's change was 2.2 standard deviations below that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator NE.GDI.TOTL.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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