Mbabane – Eswatini’s economy reached E96.618 billion in 2025, with real Gross Domestic Product (GDP) growing by 4.8 per cent compared to the revised 3.0 per cent growth recorded in 2024.
This is according to the Central Statistical Office’s (CSO) Annual Gross Domestic Product Bulletin 2025, which provides the latest official figures on the size and performance of the economy.
The 4.8 per cent growth was largely supported by the tertiary sector, which expanded by six per cent during the year.
Manufacturing remained the biggest contributor to economic output, accounting for 28.8 per cent of GDP, followed by wholesale and retail trade at 15.5 per cent.
Public administration and defence accounted for 8.0 per cent, while agriculture and forestry contributed seven per cent.
The figures show that manufacturing continues to account for the largest share of the country’s economic activity, while services also recorded strong growth during the year.
However, the expenditure side of the national accounts presents a mixed picture.
Private consumption expenditure increased by 2.9 per cent in 2025, while government consumption expenditure fell marginally by 0.1 per cent.
Gross fixed capital formation recorded a much sharper decline, falling by 18.2 per cent during the year.
The CSO also reported negative net exports, which contributed to a higher positive statistical discrepancy at current prices.
GDP is calculated using both the production and expenditure approaches. The production approach measures the value of goods and services produced across the economy, while the expenditure approach looks at spending by households, government, investment and trade.
The CSO has also revised the preliminary 2024 GDP figures, with overall economic growth changing from 3.00 per cent to 3.01 per cent.
While the overall revision was small, there were notable changes in the performance of the individual sectors.
The primary sector was revised from 3.10 per cent growth to a contraction of 0.65 per cent.
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