Mbabane – Eswatini’s economy expanded by 4.8 per cent in 2025, marking a stronger performance than the 3.0 per cent growth recorded in 2024, according to the latest Gross Domestic Product (GDP) annual estimates released by the Central Statistical Office (CSO).
The 2025 GDP stood at E96.618 billion at current prices, with the stronger economic performance largely driven by the services sector, also known as the tertiary sector, which grew by 6 per cent during the year.
The CSO, through its National Accounts Unit, said the estimates were compiled using the 2008 System of National Accounts and covered economic activity through both the production and expenditure approaches.
Figure 1: GDP Growth Rates
Manufacturing remained the biggest individual contributor to Eswatini’s economy, accounting for 28.8 per cent of GDP in 2025. Wholesale and retail trade followed with 15.5 per cent, while public administration and defence contributed 8 per cent. Agriculture and forestry accounted for 7 per cent.
The tertiary sector accounted for 52.3 per cent of GDP, compared with 33.3 per cent for the secondary sector and 8 per cent for the primary sector. Taxes on products made up the remaining 6.4 per cent.
The data shows notable growth across several areas of the economy during 2025. Information and communication increased by 20.5 per cent, while other service activities grew by 30.8 per cent. Professional, scientific and technical activities expanded by 11.7 per cent, construction grew by 11.8 per cent and human health and social work activities increased by 7.9 per cent.
Figure 2: Sector Growth Rates
Electricity supply recorded the largest growth among the listed industries, increasing by 148.1 per cent during the year. Water and sewerage and waste collection grew by 6.2 per cent, while wholesale and retail trade expanded by 6.1 per cent.
Agriculture and forestry recovered from a contraction in 2024, growing by 2.1 per cent in 2025. Forestry increased by 4.1 per cent, while support activities to agriculture grew by 17.1 per cent. Animal production recorded marginal growth of 0.9 per cent, while crop production declined by 0.1 per cent.
Mining and quarrying, however, contracted slightly by 0.3 per cent after recording growth of 24.5 per cent in 2024.
The secondary sector grew by 4.5 per cent, supported by construction and electricity supply, while the primary sector increased by 1.5 per cent.
Manufacturing, despite retaining its position as Eswatini’s largest industry by GDP share, grew by a modest 1.2 per cent in 2025. Its contribution to GDP increased from E25.759 billion in 2024 to E27.809 billion at current prices in 2025.
The wholesale and retail sector also recorded an increase, contributing E14.935 billion at current prices, up from E13.826 billion in 2024. Transportation and storage rose to E3.902 billion, while professional, scientific and technical activities reached E3.473 billion.
Figure 3: Industry Shares to GDP
From the expenditure side, private consumption expenditure increased by 2.9 per cent in real terms during 2025. Government consumption declined by 0.1 per cent, while gross capital formation fell sharply by 18.2 per cent.
Exports of goods and services increased by 4.8 per cent in real terms. Goods exports grew by 2.6 per cent, while exports of services increased by 24.4 per cent.
Imports rose by 6.1 per cent, driven partly by a 27.8 per cent increase in imports of services, while imports of goods declined by 0.4 per cent.
The CSO also revised its preliminary 2024 GDP growth estimate from 3.0 per cent to 3.01 per cent. The tertiary sector was revised upwards by 1.35 percentage points, while the primary sector was revised from 3.10 per cent growth to a contraction of 0.65 per cent.
The CSO said revisions to national accounts are undertaken when improved source data becomes available or when new methodologies are introduced, with the objective of maintaining the quality and integrity of the statistics.
The next major GDP release is scheduled for 28 September 2026, when the CSO is expected to publish Eswatini’s second quarter GDP estimates for 2026.
Leave a comment