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Economy of Bolivia vs Malawi compared: GDP & Debt

Updated on by Georank team

Bolivia has a GDP of $54.9B compared to $11.3B for Malawi, ranking 88/197 and 151/197 by economy size, respectively.

Bolivia has $53.8B in government debt (98% of GDP), compared to $9.91B (87.6% of GDP) in Malawi.

Bolivia vs Malawi GDP by year

Bolivia
Malawi
1x
Year GDP, current $
Bolivia Malawi
2024 $54,881,327,453 $11,316,411,329
2023 $52,340,206,946 $13,363,669,673
2022 $50,959,081,954 $12,429,059,928
2021 $47,877,892,402 $12,378,119,199
2020 $42,313,784,081 $11,769,313,598
2019 $49,056,643,589 $11,051,852,713
2018 $48,414,038,842 $9,879,220,354
2017 $45,927,439,595 $8,943,543,794
2016 $33,941,126,194 $7,909,868,618
2015 $33,000,198,249 $9,219,474,379
2014 $32,996,188,017 $8,801,326,169
2013 $30,659,338,886 $8,031,571,928
2012 $27,084,497,482 $8,773,203,178
2011 $23,963,164,697 $11,648,142,958
2010 $19,649,723,722 $10,128,323,011
2009 $17,339,992,194 $9,009,887,947
2008 $16,674,276,286 $7,743,617,352
2007 $13,120,108,008 $6,451,210,219
2006 $11,451,844,902 $5,818,279,739
2005 $9,549,122,905 $5,320,409,651
2004 $8,773,451,752 $5,058,726,350
2003 $8,082,399,640 $4,669,789,300
2002 $7,905,485,146 $5,087,328,438
2001 $8,141,516,928 $2,498,008,665
2000 $8,397,855,485 $2,537,307,580
1999 $8,285,064,435 $2,584,478,924
1998 $8,497,494,652 $2,547,609,590
1997 $7,925,736,821 $3,875,785,863
1996 $7,396,949,126 $3,319,573,750
1995 $6,715,161,732 $2,033,701,498
1994 $5,981,222,859 $1,719,864,761
1993 $5,734,699,489 $3,013,392,658
1992 $5,643,868,749 $2,618,837,835
1991 $5,343,262,457 $3,206,783,830
1990 $4,867,582,598 $2,737,087,862
1989 $4,715,973,437 $2,314,205,130
1988 $4,597,612,362 $2,008,189,508
1987 $4,347,956,338 $1,721,711,808
1986 $3,959,382,833 $1,722,586,299
1985 $5,377,276,555 $1,646,442,273
1984 $6,169,483,225 $1,758,028,656
1983 $5,422,656,823 $1,780,148,049
1982 $5,594,126,369 $1,717,379,495
1981 $5,891,598,695 $1,801,193,910
1980 $4,537,479,608 $1,801,156,775
1979 $4,421,336,383 -
1978 $3,758,220,890 -
1977 $3,227,436,282 -
1976 $2,731,984,008 -
1975 $2,404,697,651 -
1974 $2,100,249,875 -
1973 $1,262,968,516 -
1972 $1,257,615,645 -
1971 $1,095,622,896 -
1970 $1,017,003,367 -
1969 $929,629,630 -
1968 $857,912,458 -
1967 $755,808,081 -
1966 $669,191,919 -
1965 $604,377,104 -
1964 $544,023,569 -
1963 $482,828,283 -
1962 $448,400,673 -
1961 $410,101,010 -
1960 $377,020,202 -

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

GeoRank.org/economy/bolivia/malawi | CC BY

GDP per capita in Bolivia vs Malawi by year

Bolivia
GDP per capita

GDP per capita, PPP
Malawi
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bolivia Malawi
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,421 $12,878 $523 $1,858
2023 $4,275 $12,892 $633 $1,830
2022 $4,219 $12,307 $604 $1,778
2021 $4,011 $11,202 $617 $1,688
2020 $3,581 $9,581 $603 $1,513
2019 $4,203 $11,005 $581 $1,450
2018 $4,207 $10,758 $533 $1,364
2017 $4,048 $10,420 $496 $1,380
2016 $3,036 $9,242 $451 $1,410
2015 $2,996 $8,757 $540 $1,403
2014 $3,041 $8,629 $530 $1,506
2013 $2,870 $8,069 $497 $1,558
2012 $2,576 $7,184 $558 $1,464
2011 $2,316 $6,598 $763 $1,516
2010 $1,930 $6,245 $683 $1,458
2009 $1,731 $6,024 $626 $1,388
2008 $1,693 $5,890 $554 $1,311
2007 $1,355 $5,537 $475 $1,231
2006 $1,203 $5,244 $441 $1,124
2005 $1,020 $4,938 $414 $1,071
2004 $953 $4,663 $405 $1,033
2003 $893 $4,433 $383 $979
2002 $888 $4,304 $428 $931
2001 $930 $4,205 $215.5 $924
2000 $976 $4,113 $224.2 $974
1999 $979 $3,991 $233.9 $961
1998 $1,022 $3,988 $236 $941
1997 $970 $3,822 $367 $915
1996 $922 $3,645 $321 $884
1995 $853 $3,494 $200.4 $825
1994 $774 $3,331 $169.2 $692
1993 $757 $3,177 $293 $746
1992 $760 $3,036 $258.4 $674
1991 $734 $2,981 $326 $732
1990 $683 $2,797 $286.7 $672
1989 $675 - $252.2 -
1988 $673 - $229.4 -
1987 $650 - $207.6 -
1986 $604 - $217.9 -
1985 $838 - $216.1 -
1984 $982 - $239.7 -
1983 $882 - $252.4 -
1982 $930 - $253.3 -
1981 $1,001 - $276.4 -
1980 $788 - $287.5 -
1979 $785 - - -
1978 $683 - - -
1977 $600 - - -
1976 $520 - - -
1975 $468 - - -
1974 $418 - - -
1973 $257.2 - - -
1972 $261.9 - - -
1971 $233.4 - - -
1970 $221.6 - - -
1969 $207.1 - - -
1968 $195.5 - - -
1967 $176.1 - - -
1966 $159.3 - - -
1965 $147.1 - - -
1964 $135.2 - - -
1963 $122.6 - - -
1962 $116.2 - - -
1961 $108.5 - - -
1960 $101.8 - - -

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

GeoRank.org/economy/bolivia/malawi | CC BY

Bolivia's GDP per capita is $4,421, ranking 125/197, compared to $523 in Malawi, ranking 194/197. Adjusted for purchasing power (GDP per capita PPP), Bolivia ranks 122nd at $12,878, while Malawi ranks 189th at $1,858.

Economic indicators

Bolivia Malawi
Gross domestic product
$54.9B
2024
$11.3B
2024
GDP rank
88/197
2024
151/197
2024
GDP growth
-1.12%
2023-2024
1.67%
2023-2024
GDP per capita
$4,421
2024
$523
2024
GDP per capita rank
125/197
2024
194/197
2024
GDP per capita, PPP
$12,878
2024
$1,858
2024
GDP per capita PPP rank
122/197
2024
189/197
2024
Government debt
$53.8B
2024
$9.91B
2024
Debt-to-GDP ratio
98%
2024
87.6%
2024
Government debt per person
$4,331
2024
$458
2024
Government debt per person rank
88/185
2024
168/185
2024
Average annual personal income after taxes
$4,720
2026
$3,031
2026
Income share by richest 10%
31.3%
2023
31%
2019
Income share by poorest 10%
1.8%
2023
2.9%
2019
Government expenditure, % of GDP
39.8%
2024
29.5%
2024
Consumer prices inflation
5.1%
2023-2024
32.2%
2023-2024
Central bank interest rate
3.26%
2025
26%
2024
Unemployment rate
2.73%
2024
15.4%
2024
Population
12798112
22949294

Spending and national debt comparison by year

Bolivia
Spending

Debt
Malawi
Spending

Debt
1x
Year % of GDP
Bolivia Malawi
Government spending Government debt Government spending Government debt
2024 39.8% 98% 29.5% 87.6%
2023 38.7% 90.8% 25.5% 86.7%
2022 36% 80.1% 26.7% 75.7%
2021 34.8% 81.4% 23.7% 66.5%
2020 36.8% 78% 22.7% 53.9%
2019 36.1% 58.6% 19.3% 41.2%
2018 37.7% 53.1% 19.4% 40.8%
2017 38.6% 51.3% 21% 40%
2016 40% 46.5% 19.7% 37.1%
2015 44.5% 40.9% 19.5% 35.5%
2014 41.2% 37.6% 18.3% 33.5%
2013 35.4% 36.1% 20.7% 35.3%
2012 36% 35.4% 18.8% 28.6%
2011 35.4% 35.3% 17% 20%
2010 31.5% 37.6% 19.6% 19.3%
2009 33.2% 39.2% 20.2% 23.5%
2008 35.3% 36.8% 20.6% 23.5%
2007 32.7% 40% 20.7% 18.9%
2006 29.8% 54.4% 17.8% 17.9%
2005 33.2% 82.2% 17.4% 70.9%
2004 32.3% 89.8% 17.2% 74.7%
2003 32% 95.6% 15.4% 84.7%
2002 33.3% 86.7% 13.8% 101.5%
2001 32% 83% - -
2000 29.3% 74.3% - -
1999 29.4% 61.7% - -
1998 30% 61.2% - -
1997 28.3% 64.6% - -
1996 26% 72.4% - -
1995 25.8% 81.7% - -
1994 26.8% 87.6% - -
1993 27.2% 83.8% - -
1992 25.3% 92.4% - -
1991 24.2% 92.8% - -
1990 22.8% 102.9% - -
1989 24.4% 98% - -
1988 24% 115.9% - -
1987 24.4% 145.3% - -
1986 22.2% 149% - -
1985 21.8% 205.2% - -
1984 29% 166.5% - -
1983 32.1% 157.3% - -
1982 25% 155.4% - -
1981 16.6% 121.7% - -
1980 19.8% 100% - -
1979 18% 92% - -
1978 17.3% 82.5% - -
1977 18.6% 82.4% - -
1976 16.8% 68.9% - -
1975 14.4% 56.2% - -
1974 14.2% 52.7% - -
1973 14.1% 80.9% - -
1972 11.8% 77.7% - -
1971 11.3% 65.7% - -
1970 10% 63.9% - -
1969 12.3% - - -
1968 14.1% - - -
1967 13.1% - - -
1966 12.9% - - -
1965 12.9% - - -
1964 10.8% - - -
1963 10.8% - - -
1962 10.2% - - -
1961 10.7% - - -
1960 10.1% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/bolivia/malawi | CC BY

In 2024, Bolivia's government spending was $21.9B, accounting for 39.8% of its GDP, while Malawi spent $3.34B, or 29.5% of GDP.

Debt-to-GDP ratio is 98% in Bolivia and 87.6% in Malawi, ranking 26/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Bolivia

Malawi
1x
Year Deficit/surplus, % of GDP
Bolivia Malawi
2024 -10.6% -11%
2023 -10.9% -7.84%
2022 -7.12% -9.32%
2021 -9.33% -8.34%
2020 -12.7% -8.03%
2019 -7.25% -4.55%
2018 -8.17% -4.35%
2017 -7.86% -5.15%
2016 -7.24% -4.9%
2015 -6.93% -4.17%
2014 -3.41% -3.08%
2013 0.6% -3.73%
2012 1.72% -1.45%
2011 0.83% -2.85%
2010 1.62% 0.63%
2009 2.63% -2.97%
2008 3.53% -2.92%
2007 -1.54% -2.56%
2006 4.47% -0.05%
2005 -2.24% -1.63%
2004 -5.54% -2.61%
2003 -7.88% -2.6%
2002 -8.79% -4.47%
2001 -6.82% -
2000 -3.73% -
1999 -3.84% -
1998 -5.1% -
1997 -3.28% -
1996 -1.9% -
1995 -1.82% -
1994 -3% -
1993 -6.1% -
1992 -4.4% -
1991 -4.2% -
1990 -4.4% -
1989 -5.5% -
1988 -6.5% -
1987 -7.7% -
1986 -2.7% -
1985 -9.8% -
1984 -25.4% -
1983 -19.8% -
1982 -15.9% -
1981 -12.3% -
1980 -15.3% -
1979 -11.2% -
1978 -9.97% -
1977 -11.2% -
1976 -1.15% -
1975 -2.33% -
1974 -1.87% -
1973 -3.72% -
1972 -3.69% -
1971 -3.67% -
1970 -1.92% -
1969 -4.16% -
1968 -5.67% -
1967 -4.29% -
1966 -3.55% -
1965 -4.12% -
1964 -2.68% -
1963 -3.02% -
1962 -2.8% -
1961 -2.81% -
1960 -3.35% -
1959 -4.32% -
1958 -2.95% -
1957 -1.11% -
1956 -0.11% -
1955 0.33% -
1954 0.006% -
1953 -0.48% -
1952 -0.94% -
1951 -0.42% -
1950 -1.17% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1989, retrieved 2026-02-20).

GeoRank.org/economy/bolivia/malawi | CC BY

In 2024, Bolivia's government deficit, the difference between spending and revenue, was $5.83B, equivalent to 10.6% of GDP. This compares to Malawi's deficit of $1.24B, or 11% of GDP.

Over the past 23 years, Bolivia recorded a fiscal deficit in 16 of those years, while Malawi ran a deficit in 22 years. On average, Bolivia posted an annual deficit equal to 4.44% of GDP, compared to deficit of 4.26% of GDP for Malawi.

Inflation comparison by year

Inflation
Bolivia

Malawi
1x
Year Consumer prices inflation
Bolivia Malawi
2024 5.1% 32.2%
2023 2.58% 28.8%
2022 1.75% 20.8%
2021 0.74% 9.3%
2020 0.94% 8.6%
2019 1.84% 9.4%
2018 2.27% 9.2%
2017 2.82% 11.5%
2016 3.62% 21.7%
2015 4.06% 21.9%
2014 5.77% 23.8%
2013 5.74% 28.3%
2012 4.52% 21.3%
2011 9.88% 7.6%
2010 2.5% 7.4%
2009 3.35% 8.4%
2008 14% 8.7%
2007 8.71% 7.9%
2006 4.28% 13.9%
2005 5.39% 15.5%
2004 4.44% 11.4%
2003 3.34% 9.6%
2002 0.93% 14.7%
2001 1.59% 22.7%
2000 4.61% 29.6%
1999 2.16% 44.8%
1998 7.67% 29.8%
1997 4.71% 9.1%

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/bolivia/malawi | CC BY

Over the past 28 years, Bolivia has recorded an average annual inflation rate of 4.26%, compared with 17.4% in Malawi. In 2024, inflation was 5.1% in Bolivia and 32.2% in Malawi.

Top exports between countries

Bolivia
Export category Export value
Malawi
Export category Export value
Textiles & consumer goods $3K
Machinery & equipment $1K
Wood & paper products $1K

Balance of trade

Bolivia Malawi
Current account balance
-$1.41B
2024
-$2.13B
2024
Current account balance ranking
132/190
2024
145/190
2024
Current account balance, % of GDP
-2.56%
2024
-18.8%
2024
Goods imports
$9.15B
2024
$3.02B
2024
Goods exports
$8.93B
2024
$1.02B
2024
Service imports
$2.35B
2024
$895M
2024
Service exports
$1.14B
2024
$508M
2024
Imports of goods and services, % of GDP
25.5%
2024
31.2%
2023
Exports of goods and services, % of GDP
21.4%
2024
11.2%
2023

Economic freedom indices

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

Bolivia Malawi
Economic freedom 42.4 50.7
Economic freedom ranking 184/197 159/197
Property rights 20.2 49.5
Government integrity 27.1 35
Judicial effectiveness 29.5 51.8
Tax burden 86.4 77
Government spending 56.3 77.8
Fiscal health 0.8 4.7
Business freedom 53.6 34.1
Labor freedom 52.2 55.2
Monetary freedom 67.1 55.1
Trade freedom 60.6 68.6
Investment freedom 15 50
Financial freedom 40 50

Economic freedom comparison by year

Bolivia
Malawi
1x
Year Economic freedom index
Bolivia Malawi
2026 42.4 50.7
2025 44.1 50.9
2024 43.5 52.1
2023 43.4 52.8
2022 43 53
2021 42.7 53
2020 42.8 52.8
2019 42.3 51.4
2018 44.1 52
2017 47.7 52.2
2016 47.4 51.8
2015 46.8 54.8
2014 48.4 55.4
2013 47.9 55.3
2012 50.2 56.4
2011 50 55.8
2010 49.4 54.1
2009 53.6 53.7
2008 53.1 52.7
2007 54.2 52.9
2006 57.8 55.4
2005 58.4 53.6
2004 64.5 53.6
2003 64.3 53.2
2002 65.1 56.9
2001 68 56.2
2000 65 57.4
1999 65.6 54
1998 68.8 54.1
1997 65.1 53.4
1996 65.2 56.2
1995 56.8 54.7

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

GeoRank.org/economy/bolivia/malawi | CC BY

The Economic Freedom Index for Bolivia is 42.4, ranking 184/197, compared to 50.7 for Malawi, ranking 159/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bolivia Malawi
Services, % of GDP
53.4%
2024
44.2%
2024
Industry, % of GDP
31.3%
2024
17.1%
2024
Agriculture, forestry, and fishing, % of GDP
8.83%
2024
31.8%
2024
GNI, Atlas method
$51.7B
2024
$12.3B
2024
GNI per capita, PPP
$12,620
2024
$1,830
2024
Total reserves including gold
$1.98B
2024
$594M
2020
Total reserves ranking
127/177
2024
154/177
2020
Net foreign direct investment
-$113M
2024
-$202M
2024
Net inflows of foreign direct investment
$387M
2024
$681M
2024
Net outflows of foreign direct investment
$133M
2024
$56.4M
2024
Servicing debt to the IMF, % of GNI
3.41%
2024
1.47%
2024
Poverty at national poverty lines
36.5%
2023
50.7%
2019
Gross capital formation, % of GDP
17.9%
2024
14.5%
2023

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/bolivia/malawi | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.