Barbados vs Malawi: Economic Indicators Comparison

Malawi with a GDP of $7.1B ranked the 150th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Malawi and Barbados ranked 63rd vs 159th and 195th vs 50th, respectively.

Gross Domestic Product & Income

StatBarbadosMalawi
GDP$5.1B$7.1B
GDP growth, 1 year-0.5%3.2%
GDP growth, 5-years average0.7%3.6%
Population286k18.6M
GDP per capita$18k$389
GDP per capita growth-0.64%0.8%
Purchasing Power Parity conversion factor1.93217.52
Price level ratio of PPP conversion factor GDP to market exchange rate0.970.3
GDP per capita, PPP adjusted$19k$1.2k
GNI, Atlas method$4.4B$6.5B
GNI per capita$15k$360
GNI, PPP adjusted$4.7B$23.7B
GNI per capita, PPP adjusted$16k$1.3k

Financial system and Human development

StatBarbadosMalawi
Income Tax Rate40%30%
Corporate Tax Rate5.5%30%
Inflation, consumer prices3.6%9.2%
Inflation, GDP deflator3.6%8.6%
Unemployment9.6%5.4%
Economic Freedom Index61.452.8
Personal Freedom Index8.227.18
Human Freedom Index7.216.68
Property Rights Index56.643.1
Judical Effectiveness Index36.142.1
Business Freedom Index69.441.9
Fiscal Health Index63.123.6
Labor Freedom Index6062.8
Investment Freedom Index7050
Financial Freedom Index6050
Trade Freedom Index56.675.4
Monetary Freedom Index77.969.1
Government Spending Index69.271.7
Tax Burden Index73.679
Government Integrity Index4424.8
Corruption Perceptions Index6832
Life expectancy at birth, years7963.3
Suicide mortality rate, per 100,000 people0.83.7
Mortality caused by road traffic injury, per 100,000 people5.631
Intentional homicides, per 100,000 people10.51.7
International tourism, number of arrivals680k871k

Government debt & reserves

StatBarbadosMalawi
Central government debt, % of GDP124.5%61.3%
External debt stocks, % of GNIN/A32.2%
External debt stocksN/A$2.3B
Short-term debt, % of total reservesN/A3%
Total debt service, % of exports and primary incomeN/A5.7%
Adjusted net savings including particulate emission damage, % of GNI-6.8%-16.7%
Gross savings, % of GDP-0.5%13.2%
Gross capital formation, % of GDP11.3%13.4%
Total reserves including gold$431.8M$759.6M
Foreign direct investment net inflows$195.1M$102M

Exports, imports and economic structure

StatBarbadosMalawi
Exports of goods and services, % of GDP42%29.2%
Imports of goods and services, % of GDP40.9%36.2%
Current account balance (balance of payments)-$248.2M-$1.4B
Revenue excluding grants, % of GDP26.7%18.1%
Grants excluding technical cooperation, BoP$13.8M$973.7M
Personal remittances received$108.3M$181.6M
Industry including construction value added, % of GDP14%14.4%
Agriculture, forestry and fishing value added, % of GDP1.3%26.1%
Charges for the use of intellectual property, payments BoP$12.1M$3.2M
Charges for the use of intellectual property, receipts BoP$33.4MN/A
Expense, % of GDP35.2%20.9%
Government Expenditure, % of GDP32%30.7%

Compare with countries close by GDP per capita

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M

Malawi vs

CountryGDP
per capita
Population
Mauritania
$1.2k
4.42M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
28.3M
Benin
$902
11.2M
Mali
$900
18.5M
Guinea
$879
12.7M
Haiti
$868
11M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Guinea-Bissau
$778
1.86M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
15.5M
Gambia
$716
2.1M
Burkina Faso
$715
19.2M
Togo
$679
7.8M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
25.6M
Afghanistan
$521
34.9M
Mozambique
$499
29.7M
Central African Republic
$476
4.66M
Niger
$414
21.5M
Somalia
$315
11M
Burundi
$272
10.9M