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Economy of Botswana vs Malaysia compared: GDP & Debt

Updated on by Georank team

Botswana has a GDP of $19.4B compared to $422B for Malaysia, ranking 133/197 and 39/197 by economy size, respectively.

Botswana has $6.36B in government debt (43.8% of GDP), compared to $297B (70.1% of GDP) in Malaysia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Botswana
GDP, current $

GDP, constant 2015 $
Malaysia
GDP, current $

GDP, constant 2015 $
Year GDP
Botswana Malaysia
Current $ Constant $ Current $ Constant $
1960 $30,411,414 $203,297,646 $1,916,229,477 $10,075,053,650
1961 $32,902,613 $216,193,393 $1,901,856,123 $10,840,555,622
1962 $35,644,957 $230,606,288 $2,001,489,602 $11,536,630,908
1963 $38,091,843 $244,260,590 $2,510,110,348 $12,383,281,584
1964 $41,616,348 $260,949,209 $2,674,423,922 $13,046,897,051
1965 $45,788,696 $276,120,679 $2,956,337,669 $14,049,533,277
1966 $51,465,655 $293,637,827 $3,143,517,944 $15,147,744,694
1967 $58,642,354 $311,034,576 $3,188,924,677 $15,732,015,397
1968 $66,248,441 $343,901,776 $3,330,371,551 $16,987,114,742
1969 $77,361,547 $395,911,433 $3,664,552,041 $17,817,535,563
1970 $96,243,234 $463,692,530 $3,864,145,667 $18,884,189,212
1971 $127,448,614 $583,423,076 $4,244,395,956 $20,779,153,503
1972 $164,460,915 $737,224,723 $5,043,347,250 $22,729,992,899
1973 $244,124,164 $894,277,062 $7,662,902,678 $25,389,647,919
1974 $306,044,208 $972,953,727 $9,496,204,302 $27,501,726,906
1975 $355,168,572 $1,055,131,835 $9,298,800,799 $27,722,034,465
1976 $372,025,093 $1,167,475,696 $11,050,234,599 $30,927,669,086
1977 $451,624,780 $1,307,713,345 $13,139,488,633 $33,325,509,326
1978 $590,407,374 $1,495,145,304 $16,358,079,862 $35,542,952,797
1979 $819,870,259 $1,676,784,361 $21,213,264,962 $38,865,898,972
1980 $1,060,889,704 $1,877,778,848 $24,488,224,677 $41,758,231,850
1981 $1,073,812,830 $2,047,996,824 $25,004,285,792 $44,657,131,817
1982 $1,014,945,696 $2,297,146,530 $26,804,493,635 $47,311,173,245
1983 $1,172,230,397 $2,599,146,161 $30,347,442,111 $50,269,176,995
1984 $1,240,822,167 $2,821,253,171 $33,942,897,422 $54,170,965,010
1985 $1,114,783,343 $3,022,275,113 $31,199,633,353 $53,615,577,054
1986 $1,392,602,164 $3,269,283,371 $27,734,111,400 $54,280,729,183
1987 $1,965,226,890 $3,657,737,272 $32,181,210,158 $57,098,947,793
1988 $2,644,554,159 $4,369,166,056 $35,272,109,220 $62,773,281,162
1989 $3,083,822,112 $4,939,753,185 $38,847,965,293 $68,460,289,887
1990 $3,790,636,324 $5,274,313,873 $44,024,585,240 $74,627,553,680
1991 $3,942,876,703 $5,667,709,608 $49,143,148,094 $81,751,102,498
1992 $4,146,464,587 $5,833,040,675 $59,167,550,163 $89,014,784,404
1993 $4,160,129,175 $5,944,807,979 $66,894,966,969 $97,822,746,879
1994 $4,259,259,604 $6,160,480,628 $74,478,356,958 $106,834,219,205
1995 $4,730,599,122 $6,593,587,690 $88,705,342,903 $117,335,045,631
1996 $4,847,757,218 $6,977,980,666 $100,855,393,910 $129,071,719,045
1997 $5,020,265,627 $7,558,959,722 $100,005,323,302 $138,523,307,833
1998 $4,790,481,509 $7,592,496,073 $72,167,498,981 $128,328,802,477
1999 $5,484,263,347 $8,326,480,944 $79,148,421,053 $136,205,126,471
2000 $5,788,329,609 $8,491,986,059 $93,789,736,842 $148,271,359,065
2001 $5,489,608,300 $8,513,264,764 $92,783,947,368 $149,038,923,296
2002 $5,438,863,983 $9,029,979,997 $100,845,526,316 $157,073,594,224
2003 $7,511,582,173 $9,447,697,368 $110,202,368,421 $166,165,798,104
2004 $8,957,467,707 $9,703,335,214 $124,749,473,684 $177,437,551,536
2005 $9,918,907,108 $10,145,481,816 $143,534,405,819 $186,898,768,709
2006 $9,919,158,482 $10,994,036,837 $162,692,258,307 $197,336,779,112
2007 $10,567,270,656 $11,630,872,553 $193,549,569,478 $209,766,600,384
2008 $10,730,829,116 $12,009,117,014 $230,811,614,370 $219,902,039,819
2009 $10,118,459,242 $10,310,519,328 $202,257,453,037 $216,573,759,299
2010 $12,637,273,429 $11,353,915,358 $255,017,638,456 $232,654,030,399
2011 $15,110,643,612 $12,130,342,698 $297,951,668,675 $244,970,531,974
2012 $13,907,464,500 $12,109,617,145 $314,443,047,642 $258,378,881,826
2013 $14,271,738,933 $13,454,136,660 $323,276,235,524 $270,506,469,604
2014 $15,470,088,501 $14,220,638,229 $338,066,095,097 $286,755,041,078
2015 $13,530,748,845 $13,530,748,845 $301,355,266,965 $301,355,266,965
2016 $15,082,637,184 $14,505,561,464 $301,256,033,870 $314,764,917,575
2017 $16,105,155,857 $15,102,375,175 $319,109,094,160 $333,061,328,477
2018 $17,031,943,186 $15,734,967,215 $358,788,845,713 $349,191,778,300
2019 $16,725,908,149 $16,212,015,761 $365,177,721,022 $364,602,265,936
2020 $14,960,251,611 $14,796,887,969 $337,456,163,961 $344,706,479,641
2021 $18,750,182,235 $16,560,125,448 $373,784,823,673 $356,134,704,342
2022 $20,321,150,598 $17,468,616,756 $407,605,841,348 $387,694,727,479
2023 $19,411,266,967 $18,029,021,881 $399,705,137,434 $401,479,163,711
2024 $19,400,774,882 $17,489,977,782 $421,972,102,254 $422,011,432,357

Economic indicators

Botswana Malaysia
Gross domestic product
$19.4B
2024
$422B
2024
GDP rank
133/197
2024
39/197
2024
GDP growth
-0.05%
2023-2024
5.57%
2023-2024
GDP per capita
$7,695
2024
$11,867
2024
GDP per capita rank
98/197
2024
81/197
2024
GDP per capita, PPP
$20,538
2024
$38,729
2024
Government debt
$6.36B
2024
$297B
2024
Debt-to-GDP ratio
43.8%
2025
70.1%
2025
Government debt per person
$2,523
2024
$8,353
2024
Government debt per person rank
110/185
2024
63/185
2024
Average annual personal income after taxes
$4,596
2025
$9,650
2025
Market capitalization of domestic companies
$3.59B
2023
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
42.9%
2015
30.9%
2021
Income share by poorest 10%
1.4%
2015
2.3%
2021
Government expenditure, % of GDP
34.9%
2025
23.1%
2025
Consumer prices inflation
2.82%
2023-2024
1.83%
2023-2024
Central bank interest rate
1.9%
2024
2.75%
2025
Unemployment rate
24.4%
2024
3.93%
2022
Population
2595266
36304998

GDP per capita in Botswana vs Malaysia

Botswana's GDP per capita is $7,695, ranking 98/197, compared to $11,867 in Malaysia, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 93rd at $20,538, while Malaysia ranks 60th at $38,729.

Botswana
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
Year Current $
Botswana Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $58.9 - $240.8 -
1961 $62.3 - $232.9 -
1962 $66 - $238.8 -
1963 $68.9 - $291.8 -
1964 $73.5 - $303 -
1965 $79.7 - $326 -
1966 $89.1 - $339 -
1967 $100.9 - $335 -
1968 $113.4 - $342 -
1969 $131.8 - $368 -
1970 $163 - $380 -
1971 $212.2 - $407 -
1972 $264.2 - $472 -
1973 $374 - $701 -
1974 $446 - $848 -
1975 $493 - $811 -
1976 $490 - $940 -
1977 $565 - $1,092 -
1978 $695 - $1,327 -
1979 $909 - $1,680 -
1980 $1,132 - $1,886 -
1981 $1,107 - $1,866 -
1982 $1,006 - $1,938 -
1983 $1,121 - $2,124 -
1984 $1,145 - $2,300 -
1985 $994 - $2,046 -
1986 $1,200 - $1,760 -
1987 $1,639 - $1,977 -
1988 $2,141 - $2,100 -
1989 $2,428 - $2,244 -
1990 $2,903 $5,978 $2,469 $6,887
1991 $2,939 $6,463 $2,679 $7,583
1992 $3,005 $6,614 $3,141 $8,224
1993 $2,929 $6,706 $3,462 $9,018
1994 $2,917 $6,903 $3,758 $9,806
1995 $3,156 $7,348 $4,363 $10,720
1996 $3,156 $7,728 $4,837 $11,709
1997 $3,194 $8,322 $4,679 $12,469
1998 $2,981 $8,268 $3,294 $11,398
1999 $3,340 $8,999 $3,528 $11,980
2000 $3,451 $9,187 $4,084 $13,027
2001 $3,206 $9,226 $3,944 $13,072
2002 $3,117 $9,753 $4,184 $13,656
2003 $4,230 $10,224 $4,465 $14,387
2004 $4,957 $10,596 $4,939 $15,416
2005 $5,391 $11,222 $5,556 $16,371
2006 $5,292 $12,304 $6,158 $17,426
2007 $5,529 $13,113 $7,169 $18,617
2008 $5,503 $13,526 $8,372 $19,480
2009 $5,083 $11,446 $7,191 $18,923
2010 $6,216 $12,491 $8,899 $20,193
2011 $7,287 $13,355 $10,217 $21,324
2012 $6,596 $12,475 $10,601 $22,639
2013 $6,667 $13,341 $10,714 $23,161
2014 $7,122 $15,003 $11,013 $24,307
2015 $6,141 $14,144 $9,649 $24,526
2016 $6,749 $16,228 $9,477 $25,286
2017 $7,105 $15,701 $9,863 $26,416
2018 $7,408 $15,786 $10,902 $27,794
2019 $7,172 $15,960 $10,920 $28,934
2020 $6,323 $15,292 $9,958 $27,475
2021 $7,808 $17,961 $10,903 $29,823
2022 $8,329 $19,977 $11,748 $34,366
2023 $7,826 $21,012 $11,379 $36,417
2024 $7,695 $20,538 $11,867 $38,729

Spending and national debt comparison

In 2024, Botswana's government spending was $6.74B, accounting for 34.9% of its GDP, while Malaysia's spent $101B, or 23.1% of GDP.

Debt-to-GDP ratio is 43.8% in Botswana and 70.1% in Malaysia, ranking 122/185 and 55/185, respectively.

Botswana
Government spending

Government debt
Malaysia
Government spending

Government debt
Year % of GDP
Botswana Malaysia
Government spending Government debt Government spending Government debt
1990 40.5% - 30.5% 74.1%
1991 42.3% - 27.4% 67.3%
1992 43.4% - 28.2% 59.1%
1993 44.2% - 24.6% 51.1%
1994 39.2% - 23.3% 43.7%
1995 38.1% - 22.6% 38.2%
1996 37.2% - 22.4% 32.8%
1997 40% - 21.2% 29.6%
1998 44.3% 12% 23.1% 33.6%
1999 41.7% 9.68% 24.6% 34.4%
2000 39.8% 8.37% 25.6% 32.5%
2001 42.9% 7.61% 28.2% 38.1%
2002 46% 8.55% 27.1% 39.5%
2003 44% 7.29% 28.1% 41.4%
2004 42% 11.3% 25.9% 42%
2005 35% 7.74% 24.5% 40.8%
2006 34.1% 6.32% 25.6% 39.7%
2007 38.3% 6.12% 25.9% 39.3%
2008 48% 7.77% 26.9% 39.4%
2009 54.5% 23.5% 30.9% 50.4%
2010 44.7% 27.9% 26.6% 51.2%
2011 37.4% 28.1% 27.1% 51.9%
2012 38.3% 27.3% 28.5% 53.8%
2013 34.8% 24.7% 27.8% 55.7%
2014 36.4% 23.9% 26% 55.4%
2015 39.7% 25.7% 24.7% 57%
2016 34.2% 22.4% 22.9% 55.8%
2017 35% 19.8% 22% 54.4%
2018 35.9% 19.8% 22.8% 55.6%
2019 36.4% 21.3% 23.6% 57.1%
2020 38.5% 24.8% 25% 67.7%
2021 33% 23.4% 24.5% 69.2%
2022 29.5% 21.3% 24.7% 65.5%
2023 32.3% 22.5% 24.9% 69.7%
2024 34.7% 32.8% 23.9% 70.4%
2025 34.9% 43.8% 23.1% 70.1%

Government deficit by year

In 2024, Botswana's government deficit, the difference between spending and revenue, was -$2B, equivalent to -10.3% of GDP. This compares to Malaysia's deficit of -$16.7B, or -3.95% of GDP.

Over the past 26 years, Botswana recorded a fiscal deficit in 16 of those years, while Malaysia ran a deficit in 26 years. On average, Botswana posted an annual deficit equal to -1.05% of GDP, compared to deficit of -3.67% of GDP for Malaysia.

Deficit/surplus
Botswana

Malaysia
Year Deficit/surplus, % of GDP
Botswana Malaysia
1990 - 0.15%
1991 - 1.6%
1992 - 1.81%
1993 - 3.44%
1994 - 5.45%
1995 - 3.1%
1996 - 3.27%
1997 - 4.84%
1998 - -0.63%
1999 6.18% -3%
2000 8.95% -6.05%
2001 -2.96% -4.36%
2002 -4.02% -3.96%
2003 -0.18% -4.6%
2004 1.42% -3.35%
2005 10.7% -2.83%
2006 13.7% -2.6%
2007 5.92% -2.57%
2008 -7.59% -3.4%
2009 -14.4% -5.88%
2010 -8.36% -4.32%
2011 -0.12% -3.57%
2012 0.92% -3.1%
2013 6.07% -3.48%
2014 3.88% -2.63%
2015 -5.06% -2.55%
2016 0.72% -2.6%
2017 -1.16% -2.41%
2018 -5.07% -2.64%
2019 -8.43% -2.01%
2020 -11.5% -4.9%
2021 -2.46% -6.03%
2022 -0.006% -4.56%
2023 -4.18% -3.97%
2024 -10.3% -3.95%
2025 -11.2% -3.36%

Inflation comparison by year

Over the past 29 years, Botswana has recorded an average annual inflation rate of 6.81%, compared with 2.29% in Malaysia. In 2024, inflation was 2.82% in Botswana and 1.83% in Malaysia.

Inflation
Botswana

Malaysia
Year Inflation
Botswana Malaysia Botswana Malaysia
1996 10.1% 3.49%
1997 8.72% 2.66%
1998 6.66% 5.27%
1999 7.75% 2.74%
2000 8.6% 1.53%
2001 6.56% 1.42%
2002 8.03% 1.81%
2003 9.19% 1.09%
2004 6.95% 1.42%
2005 8.61% 2.98%
2006 11.6% 3.61%
2007 7.08% 2.03%
2008 12.7% 5.44%
2009 8.03% 0.58%
2010 6.95% 1.62%
2011 8.46% 3.17%
2012 7.54% 1.66%
2013 5.88% 2.11%
2014 4.4% 3.14%
2015 3.06% 2.1%
2016 2.81% 2.09%
2017 3.31% 3.87%
2018 3.24% 0.88%
2019 2.77% 0.66%
2020 1.89% -1.14%
2021 7.24% 2.48%
2022 11.7% 3.38%
2023 5.07% 2.49%
2024 2.82% 1.83%

Top exports between countries

Botswana
Export category Export value
Machinery & equipment $5K
Malaysia
Export category Export value
Chemicals & pharma $891K
Textiles & consumer goods $425K
Metals $338K
Raw materials & minerals $325K
Machinery & equipment $236K
Processed food, beverages & tobacco $126K
Wood & paper products $22K
Miscellaneous $2K
Precious metals & jewellery $1K
Raw agricultural goods $1K

Balance of trade

Botswana Malaysia
Current account balance
-$821M
2024
$7.15B
2024
Current account balance ranking
116/189
2024
25/189
2024
Current account balance, % of GDP
-4.23%
2024
+1.69%
2024
Goods imports
$6.86B
2024
$223B
2024
Goods exports
$4.66B
2024
$248B
2024
Service imports
$1.29B
2024
$56.4B
2024
Service exports
$935M
2024
$53.4B
2024
Imports of goods and services, % of GDP
40.9%
2024
66%
2024
Exports of goods and services, % of GDP
26%
2024
71.4%
2024

Economic freedom indices

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

Botswana Malaysia
Economic freedom 69.9 67.1
Economic freedom ranking 36/197 50/197
Property rights 74.1 66.3
Government integrity 60.1 51.1
Judicial effectiveness 70.5 66.2
Tax burden 84.9 83.9
Government spending 70.8 82.1
Fiscal health 90.4 48.1
Business freedom 70.6 76.6
Labor freedom 60.7 58.1
Monetary freedom 68.3 79.6
Trade freedom 78.8 83.4
Investment freedom 50 60
Financial freedom 60 50

Economic freedom by year comparison

The Economic Freedom Index for Botswana is 69.9, ranking 36/197, compared to 67.1 for Malaysia, ranking 50/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Botswana
Malaysia
Year Economic freedom index
Botswana Malaysia
1995 56.8 71.9
1996 61.6 69.9
1997 59.1 66.8
1998 62.8 68.2
1999 62.9 68.9
2000 65.8 66
2001 66.8 60.2
2002 66.2 60.1
2003 68.6 61.1
2004 69.9 59.9
2005 69.3 61.9
2006 68.8 61.6
2007 68.1 63.8
2008 68.2 63.9
2009 69.7 64.6
2010 70.3 64.8
2011 68.8 66.3
2012 69.6 66.4
2013 70.6 66.1
2014 72 69.6
2015 69.8 70.8
2016 71.1 71.5
2017 70.1 73.8
2018 69.9 74.5
2019 69.5 74
2020 69.6 74.7
2021 67.6 74.4
2022 64.8 68.1
2023 64.9 67.3
2024 68 65.7
2025 69.9 67.1

More economic indicators

Botswana Malaysia
Services, % of GDP
63.5%
2024
53.6%
2024
Industry, % of GDP
29.4%
2024
37.1%
2024
Agriculture, forestry, and fishing, % of GDP
1.71%
2024
8.16%
2024
GNI, Atlas method
$19.5B
2024
$415B
2024
GNI per capita, PPP
$20,570
2024
$37,500
2024
Total reserves including gold
$3.46B
2024
$116B
2024
Total reserves ranking
113/177
2024
24/177
2024
Net foreign direct investment
-$464M
2024
-$2.55B
2024
Net inflows of foreign direct investment
$467M
2024
$15.6B
2024
Net outflows of foreign direct investment
$3.02M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
1.28%
2023
n/a
Poverty at national poverty lines
16.1%
2015
5.8%
2023
Gross capital formation, % of GDP
36.2%
2024
21.9%
2024

GDP per capita map

GDP per capita

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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.