Eswatini’s imports of goods and services rose to 53.7% of GDP in 2024.

Neither way is good in itself. Neither a higher nor a lower share is good in itself. A high share can mean an economy that is open and well connected to suppliers, or one that depends heavily on foreign goods and is exposed to price and exchange rate swings. A low share can mean strong local production, or weak demand and limited access to inputs. The latest figure is 53.7% of GDP for 2024, up from 51.2% of GDP a year earlier, a rise of 2.5 percentage points. It is the highest level since 2015, and it sits well above the low of 40.4% of GDP reached in 2020.

Why it matters. A share above half of GDP means that for every unit of output produced in Eswatini, more than half as much again is spent on foreign goods and services. Households and firms feel this through the cost of fuel, food, machinery and other items priced abroad, and through the exchange rate, which is tied to the South African rand. For the state, a high import share puts pressure on the balance of payments and on the foreign reserves needed to pay for those purchases.