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Economy of Belarus vs Malaysia compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $422B for Malaysia, ranking 83/197 and 38/197 by economy size, respectively.

Belarus has $30.3B in government debt (39.9% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Belarus vs Malaysia GDP by year

Belarus
Malaysia
1x
Year GDP, current $
Belarus Malaysia
2024 $75,961,865,472 $422,227,005,429
2023 $72,478,760,370 $399,949,418,753
2022 $73,775,179,925 $407,830,525,990
2021 $69,673,747,132 $373,784,553,030
2020 $61,371,673,345 $337,456,163,961
2019 $64,410,170,653 $365,177,721,022
2018 $60,031,026,576 $358,788,845,713
2017 $54,725,405,751 $319,109,094,160
2016 $47,723,545,321 $301,256,033,870
2015 $56,454,769,845 $301,355,266,965
2014 $78,813,069,121 $338,066,095,097
2013 $75,527,558,966 $323,276,235,524
2012 $65,685,890,439 $314,443,047,642
2011 $61,762,382,328 $297,951,668,675
2010 $57,231,904,543 $255,017,638,456
2009 $50,873,167,326 $202,257,453,037
2008 $60,752,106,347 $230,811,614,370
2007 $45,275,711,996 $193,549,569,478
2006 $36,961,894,281 $162,692,258,307
2005 $30,210,091,837 $143,534,405,819
2004 $23,141,566,293 $124,749,473,684
2003 $17,825,444,724 $110,202,368,421
2002 $14,594,900,945 $100,845,526,316
2001 $12,354,820,144 $92,783,947,368
2000 $12,736,856,828 $93,789,736,842
1999 $12,138,486,532 $79,148,421,053
1998 $15,222,012,660 $72,167,498,981
1997 $14,128,408,566 $100,005,323,302
1996 $14,500,437,520 $100,855,393,910
1995 $13,972,683,274 $88,705,342,903
1994 $14,931,435,232 $74,478,356,958
1993 $16,275,073,527 $66,894,966,969
1992 $16,939,790,094 $59,167,550,163
1991 $18,404,907,975 $49,143,148,094
1990 $17,389,558,233 $44,024,585,240
1989 - $38,847,965,293
1988 - $35,272,109,220
1987 - $32,181,210,158
1986 - $27,734,111,400
1985 - $31,199,633,353
1984 - $33,942,897,422
1983 - $30,347,442,111
1982 - $26,804,493,635
1981 - $25,004,285,792
1980 - $24,488,224,677
1979 - $21,213,264,962
1978 - $16,358,079,862
1977 - $13,139,488,633
1976 - $11,050,234,599
1975 - $9,298,800,799
1974 - $9,496,204,302
1973 - $7,662,902,678
1972 - $5,043,347,250
1971 - $4,244,395,956
1970 - $3,864,145,667
1969 - $3,664,552,041
1968 - $3,330,371,551
1967 - $3,188,924,677
1966 - $3,143,517,944
1965 - $2,956,337,669
1964 - $2,674,423,922
1963 - $2,510,110,348
1962 - $2,001,489,602
1961 - $1,901,856,123
1960 - $1,916,229,477

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/malaysia | CC BY

GDP per capita in Belarus vs Malaysia by year

Belarus
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,318 $33,010 $11,874 $38,779
2023 $7,897 $30,834 $11,386 $36,467
2022 $7,995 $28,429 $11,755 $34,420
2021 $7,490 $27,611 $10,903 $29,823
2020 $6,543 $24,872 $9,958 $27,475
2019 $6,838 $22,302 $10,920 $28,934
2018 $6,360 $20,026 $10,902 $27,794
2017 $5,786 $18,414 $9,863 $26,416
2016 $5,040 $17,832 $9,477 $25,286
2015 $5,967 $18,134 $9,649 $24,526
2014 $8,341 $19,038 $11,013 $24,307
2013 $7,998 $19,014 $10,714 $23,161
2012 $6,953 $18,115 $10,601 $22,639
2011 $6,528 $16,563 $10,217 $21,324
2010 $6,035 $15,339 $8,899 $20,193
2009 $5,352 $14,034 $7,191 $18,923
2008 $6,376 $13,886 $8,372 $19,480
2007 $4,735 $12,320 $7,169 $18,617
2006 $3,848 $10,995 $6,158 $17,426
2005 $3,126 $9,637 $5,556 $16,371
2004 $2,378 $8,483 $4,939 $15,416
2003 $1,820 $7,362 $4,465 $14,387
2002 $1,479 $6,697 $4,184 $13,656
2001 $1,244 $6,238 $3,944 $13,072
2000 $1,276 $5,796 $4,084 $13,027
1999 $1,211 $5,331 $3,528 $11,980
1998 $1,511 $5,061 $3,294 $11,398
1997 $1,396 $4,596 $4,679 $12,469
1996 $1,427 $4,039 $4,837 $11,709
1995 $1,371 $3,846 $4,363 $10,720
1994 $1,460 $4,190 $3,758 $9,806
1993 $1,590 $4,641 $3,462 $9,018
1992 $1,658 $4,917 $3,141 $8,224
1991 $1,805 $5,330 $2,679 $7,583
1990 $1,707 $5,220 $2,469 $6,887
1989 - - $2,244 -
1988 - - $2,100 -
1987 - - $1,977 -
1986 - - $1,760 -
1985 - - $2,046 -
1984 - - $2,300 -
1983 - - $2,124 -
1982 - - $1,938 -
1981 - - $1,866 -
1980 - - $1,886 -
1979 - - $1,680 -
1978 - - $1,327 -
1977 - - $1,092 -
1976 - - $940 -
1975 - - $811 -
1974 - - $848 -
1973 - - $701 -
1972 - - $472 -
1971 - - $407 -
1970 - - $380 -
1969 - - $368 -
1968 - - $342 -
1967 - - $335 -
1966 - - $339 -
1965 - - $326 -
1964 - - $303 -
1963 - - $291.8 -
1962 - - $238.8 -
1961 - - $232.9 -
1960 - - $240.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/malaysia | CC BY

Belarus' GDP per capita is $8,318, ranking 92/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while Malaysia ranks 60th at $38,779.

Economic indicators

Belarus Malaysia
Gross domestic product
$76B
2024
$422B
2024
GDP rank
83/197
2024
38/197
2024
GDP growth
4.01%
2023-2024
5.11%
2023-2024
GDP per capita
$8,318
2024
$11,874
2024
GDP per capita rank
92/197
2024
79/197
2024
GDP per capita, PPP
$33,010
2024
$38,779
2024
GDP per capita PPP rank
68/197
2024
60/197
2024
Government debt
$30.3B
2024
$296B
2024
Debt-to-GDP ratio
39.9%
2024
70.1%
2024
Government debt per person
$3,318
2024
$8,322
2024
Government debt per person rank
97/185
2024
62/185
2024
Average annual personal income after taxes
$7,345
2026
$11,005
2026
Market capitalization of domestic companies
$6.01B
2024
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
20.7%
2020
30.9%
2021
Income share by poorest 10%
4.5%
2020
2.3%
2021
Government expenditure, % of GDP
40.9%
2024
23.9%
2024
Consumer prices inflation
5.7%
2023-2024
1.83%
2023-2024
Central bank interest rate
9.75%
2025
2.75%
2025
Unemployment rate
3.04%
2024
3.93%
2022
Population
9013835
36512221

Spending and national debt comparison by year

Belarus
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Belarus Malaysia
Government spending Government debt Government spending Government debt
2024 40.9% 39.9% 23.9% 70.1%
2023 40.3% 40.7% 24.9% 69.7%
2022 38% 40.8% 24.6% 65.5%
2021 36.7% 41.2% 24.5% 69.2%
2020 38% 47.5% 25% 67.7%
2019 37.4% 41% 23.6% 57.1%
2018 37.8% 47.5% 22.8% 55.6%
2017 39% 53.2% 22% 54.4%
2016 40.7% 53.5% 22.9% 55.8%
2015 41.8% 53% 24.7% 57%
2014 38.8% 38.8% 26% 55.4%
2013 40.8% 36.9% 27.8% 55.7%
2012 38.9% 36.9% 28.5% 53.8%
2011 40.3% 58.2% 27.1% 51.9%
2010 44.3% 36.8% 26.6% 51.2%
2009 51.7% 32.5% 30.9% 50.4%
2008 60% 20.3% 26.9% 39.4%
2007 49.2% 15.8% 25.9% 39.3%
2006 47.2% 12.3% 25.6% 39.7%
2005 45% 8.12% 24.5% 40.8%
2004 44% 9.22% 25.9% 42%
2003 43.5% - 28.1% 41.4%
2002 43.8% - 27.1% 39.5%
2001 42.4% - 28.2% 38.1%
2000 - - 25.6% 32.5%
1999 - - 24.6% 34.4%
1998 - - 23.1% 33.6%
1997 - - 21.2% 29.6%
1996 - - 22.4% 32.8%
1995 - - 22.6% 38.2%
1994 - - 23.3% 43.7%
1993 - - 24.6% 51.1%
1992 - - 28.2% 59.1%
1991 - - 27.4% 67.3%
1990 - - 30.5% 74.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/belarus/malaysia | CC BY

In 2024, Belarus' government spending was $31.1B, accounting for 40.9% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 39.9% in Belarus and 70.1% in Malaysia, ranking 133/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Malaysia
1x
Year Deficit/surplus, % of GDP
Belarus Malaysia
2024 1.05% -3.95%
2023 0.76% -3.97%
2022 -1.98% -4.56%
2021 -0.22% -6.03%
2020 -2.87% -4.9%
2019 0.91% -2.01%
2018 1.8% -2.64%
2017 -0.34% -2.41%
2016 -1.66% -2.6%
2015 -2.96% -2.55%
2014 0.09% -2.63%
2013 -0.98% -3.48%
2012 0.36% -3.1%
2011 -2.81% -3.57%
2010 -4.19% -4.32%
2009 -7.23% -5.88%
2008 -10.9% -3.4%
2007 -7.82% -2.57%
2006 -7.71% -2.6%
2005 -6.71% -2.83%
2004 -7.06% -3.35%
2003 -6.74% -4.6%
2002 -7.81% -3.96%
2001 -4.74% -4.36%
2000 - -6.05%
1999 - -3%
1998 - -0.63%
1997 - 4.84%
1996 - 3.27%
1995 - 3.1%
1994 - 5.45%
1993 - 3.44%
1992 - 1.81%
1991 - 1.6%
1990 - 0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/belarus/malaysia | CC BY

In 2024, Belarus' government surplus, the difference between spending and revenue, was $796M, equivalent to 1.05% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Malaysia ran a deficit in 24 years. On average, Belarus posted an annual deficit equal to 3.32% of GDP, compared to deficit of 3.6% of GDP for Malaysia.

Inflation comparison by year

Inflation
Belarus

Malaysia
1x
Year Consumer prices inflation
Belarus Malaysia
2024 5.7% 1.83%
2023 5% 2.49%
2022 15.2% 3.38%
2021 9.5% 2.48%
2020 5.5% -1.14%
2019 5.6% 0.66%
2018 4.9% 0.88%
2017 6% 3.87%
2016 11.8% 2.09%
2015 13.5% 2.1%
2014 18.1% 3.14%
2013 18.3% 2.11%
2012 59.2% 1.66%
2011 53.2% 3.17%
2010 7.7% 1.62%
2009 13% 0.58%
2008 14.8% 5.44%
2007 8.4% 2.03%
2006 7% 3.61%
2005 10.3% 2.98%
2004 18.1% 1.42%
2003 28.4% 1.09%
2002 42.6% 1.81%
2001 61.1% 1.42%
2000 168.6% 1.53%
1999 293.7% 2.74%
1998 73% 5.27%
1997 63.8% 2.66%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/malaysia | CC BY

Over the past 28 years, Belarus has recorded an average annual inflation rate of 37.2%, compared with 2.25% in Malaysia. In 2024, inflation was 5.7% in Belarus and 1.83% in Malaysia.

Top exports between countries

Belarus
Export category Export value
Raw materials & minerals $110M
Transport & tourism services $48.4M
Animal & marine products $4.8M
Wood & paper products $688K
Business & finance services $619K
IT & IP services $445K
Textiles & consumer goods $132K
Metals $58K
Processed food, beverages & tobacco $28K
Machinery & equipment $26K
Malaysia
Export category Export value
Machinery & equipment $9.34M
Raw materials & minerals $1.09M
Chemicals & pharma $132K
Processed food, beverages & tobacco $112K
Textiles & consumer goods $111K
Miscellaneous $98K

Balance of trade

Belarus Malaysia
Current account balance
-$1.94B
2024
$7.15B
2024
Current account balance ranking
142/190
2024
26/190
2024
Current account balance, % of GDP
-2.56%
2024
+1.69%
2024
Goods imports
$44.2B
2024
$223B
2024
Goods exports
$39.5B
2024
$248B
2024
Service imports
$6.82B
2024
$56.4B
2024
Service exports
$10.1B
2024
$53.4B
2024
Imports of goods and services, % of GDP
66.9%
2024
66%
2024
Exports of goods and services, % of GDP
65.1%
2024
71.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus Malaysia
Economic freedom 49.1 68
Economic freedom ranking 166/197 51/197
Property rights 20 62.7
Government integrity 28.3 52.9
Judicial effectiveness 11.5 63.4
Tax burden 93.5 83.5
Government spending 52.6 82
Fiscal health 96.8 62.5
Business freedom 50.3 79.6
Labor freedom 48 55.4
Monetary freedom 69 80.8
Trade freedom 69.2 83
Investment freedom 30 60
Financial freedom 20 50

Economic freedom comparison by year

Belarus
Malaysia
1x
Year Economic freedom index
Belarus Malaysia
2026 49.1 68
2025 48.9 67.1
2024 48.4 65.7
2023 51 67.3
2022 53 68.1
2021 61 74.4
2020 61.7 74.7
2019 57.9 74
2018 58.1 74.5
2017 58.6 73.8
2016 48.8 71.5
2015 49.8 70.8
2014 50.1 69.6
2013 48 66.1
2012 49 66.4
2011 47.9 66.3
2010 48.7 64.8
2009 45 64.6
2008 45.3 63.9
2007 47 63.8
2006 47.5 61.6
2005 46.7 61.9
2004 43.1 59.9
2003 39.7 61.1
2002 39 60.1
2001 38 60.2
2000 41.3 66
1999 35.4 68.9
1998 38 68.2
1997 39.8 66.8
1996 38.7 69.9
1995 40.4 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/belarus/malaysia | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus Malaysia
Services, % of GDP
49.7%
2024
53.7%
2024
Industry, % of GDP
30.7%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
8.13%
2024
GNI, Atlas method
$75.4B
2024
$414B
2024
GNI per capita, PPP
$32,300
2024
$37,450
2024
Total reserves including gold
$8.91B
2024
$116B
2024
Total reserves ranking
82/177
2024
24/177
2024
Net foreign direct investment
-$1.57B
2024
-$2.55B
2024
Net inflows of foreign direct investment
$1.74B
2024
$15.6B
2024
Net outflows of foreign direct investment
$170M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
7.19%
2024
n/a
Poverty at national poverty lines
3.9%
2022
5.8%
2023
Gross capital formation, % of GDP
25.8%
2024
22%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/belarus/malaysia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.