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Economy of Cayman Islands vs Malawi compared: GDP & Debt

Updated on by Georank

The Cayman Islands has a GDP of $7.77B compared to $14.9B for Malawi, ranking 158/197 and 148/197 by economy size, respectively.

Cayman Islands vs Malawi GDP by year

Cayman Islands
Malawi
1x
Year GDP, current $
Cayman Islands Malawi
2025 - $14,918,276,698
2024 $7,765,336,505 $11,311,971,400
2023 $7,308,564,549 $13,363,669,673
2022 $6,653,516,041 $12,429,059,928
2021 $6,060,813,808 $12,378,119,199
2020 $5,655,357,984 $11,769,313,598
2019 $5,941,896,608 $11,051,852,713
2018 $5,530,178,441 $9,879,220,354
2017 $5,166,281,305 $8,943,543,794
2016 $4,909,322,237 $7,909,868,618
2015 $4,708,167,233 $9,219,474,379
2014 $4,562,853,611 $8,801,326,169
2013 $4,405,796,023 $8,031,571,928
2012 $4,291,004,524 $8,773,203,178
2011 $4,186,073,104 $11,648,142,958
2010 $4,156,841,107 $10,128,323,011
2009 $4,281,714,567 $9,009,887,947
2008 $4,585,949,024 $7,743,617,352
2007 $4,466,278,065 $6,451,210,219
2006 $4,200,288,241 $5,818,279,739
2005 - $5,320,409,651
2004 - $5,058,726,350
2003 - $4,669,789,300
2002 - $5,087,328,438
2001 - $2,498,008,665
2000 - $2,537,307,580
1999 - $2,584,478,924
1998 - $2,547,609,590
1997 - $3,875,785,863
1996 - $3,319,573,750
1995 - $2,033,701,498
1994 - $1,719,864,761
1993 - $3,013,392,658
1992 - $2,618,837,835
1991 - $3,206,783,830
1990 - $2,737,087,862
1989 - $2,314,205,130
1988 - $2,008,189,508
1987 - $1,721,711,808
1986 - $1,722,586,299
1985 - $1,646,442,273
1984 - $1,758,028,656
1983 - $1,780,148,049
1982 - $1,717,379,495
1981 - $1,801,193,910
1980 - $1,801,156,775

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

GeoRank.org/economy/cayman-islands/malawi | CC BY

GDP per capita in Cayman Islands vs Malawi by year

Cayman Islands
GDP per capita

GDP per capita, PPP
Malawi
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cayman Islands Malawi
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $672 -
2024 $104,293 - $522 $1,858
2023 $100,065 $88,428 $633 $1,830
2022 $92,938 $82,296 $604 $1,778
2021 $86,450 $74,160 $617 $1,688
2020 $82,339 $66,119 $603 $1,513
2019 $88,254 $72,697 $581 $1,450
2018 $83,866 $71,812 $533 $1,364
2017 $80,054 $68,018 $496 $1,380
2016 $77,802 $65,680 $451 $1,410
2015 $76,379 $64,009 $540 $1,403
2014 $75,845 $63,561 $530 $1,506
2013 $75,114 $63,648 $497 $1,558
2012 $75,102 $64,727 $558 $1,464
2011 $75,281 $66,629 $763 $1,516
2010 $76,838 $66,325 $683 $1,458
2009 $81,374 $69,254 $626 $1,388
2008 $89,655 $76,297 $554 $1,311
2007 $89,888 $77,337 $475 $1,231
2006 $87,085 $75,191 $441 $1,124
2005 - - $414 $1,071
2004 - - $405 $1,033
2003 - - $383 $979
2002 - - $428 $931
2001 - - $215.5 $924
2000 - - $224.2 $974
1999 - - $233.9 $961
1998 - - $236 $941
1997 - - $367 $915
1996 - - $321 $884
1995 - - $200.4 $825
1994 - - $169.2 $692
1993 - - $293 $746
1992 - - $258.4 $674
1991 - - $326 $732
1990 - - $286.7 $672
1989 - - $252.2 -
1988 - - $229.4 -
1987 - - $207.6 -
1986 - - $217.9 -
1985 - - $216.1 -
1984 - - $239.7 -
1983 - - $252.4 -
1982 - - $253.3 -
1981 - - $276.4 -
1980 - - $287.5 -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

GeoRank.org/economy/cayman-islands/malawi | CC BY

The Cayman Islands' GDP per capita is $104,293, ranking 6/197, compared to $672 in Malawi, ranking 190/197. Adjusted for purchasing power (GDP per capita PPP), the Cayman Islands ranks 10th at $88,428, while Malawi ranks 189th at $1,858.

Economic indicators

Cayman Islands Malawi
Gross domestic product
$7.77B
2024
$14.9B
2025
GDP rank
158/197
2024
148/197
2025
GDP growth
3.76%
2023-2024
1.89%
2024-2025
GDP per capita
$104,293
2024
$672
2025
GDP per capita rank
6/197
2024
190/197
2025
GDP per capita, PPP
$88,428
2023
$1,858
2024
GDP per capita PPP rank
10/197
2023
189/197
2024
Government debt n/a
$11.7B
2025
Debt-to-GDP ratio n/a
78.4%
2025
Government debt per person n/a
$526
2025
Government debt per person rank n/a
166/185
2025
Average annual personal income after taxes
$94,558
2026
$1,255
2026
Market capitalization of domestic companies
$644M
2020
n/a
Income share by richest 10% n/a
31%
2019
Income share by poorest 10% n/a
2.9%
2019
Government expenditure, % of GDP
14%
2026
30.6%
2025
Consumer prices inflation
-0.63%
2015-2016
28.4%
2024-2025
Central bank interest rate n/a
24%
2026
Unemployment rate
4.2%
2015
15.4%
2024
Population
77917
23086106

Inflation comparison by year

Inflation
Cayman Islands

Malawi
1x
Year Consumer prices inflation
Cayman Islands Malawi
2025 - 28.4%
2024 - 32.2%
2023 - 28.8%
2022 - 20.8%
2021 - 9.3%
2020 - 8.6%
2019 - 9.4%
2018 - 9.2%
2017 - 11.5%
2016 -0.63% 21.7%
2015 -2.35% 21.9%
2014 1.27% 23.8%
2013 2.16% 28.3%
2012 1.19% 21.3%
2011 1.33% 7.6%
2010 0.28% 7.4%
2009 - 8.4%
2008 - 8.7%
2007 - 7.9%
2006 - 13.9%
2005 - 15.5%
2004 - 11.4%
2003 - 9.6%
2002 - 14.7%
2001 - 22.7%
2000 - 29.6%
1999 - 44.8%
1998 - 29.8%
1997 - 9.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (2010–2016, retrieved 2026-07-08).

GeoRank.org/economy/cayman-islands/malawi | CC BY

Over the past 7 years, the Cayman Islands has recorded an average annual inflation rate of 0.46%, compared with 18.9% in Malawi. In 2016, inflation was -0.63% in the Cayman Islands and 28.4% in Malawi.

Balance of trade

Cayman Islands Malawi
Current account balance
-$686M
2024
-$2.13B
2024
Current account balance ranking
107/190
2024
143/190
2024
Current account balance, % of GDP
-8.84%
2024
-18.8%
2024
Goods imports
$1.78B
2024
$3.02B
2024
Goods exports
$269M
2024
$1.02B
2024
Service imports
$2B
2024
$895M
2024
Service exports
$4.77B
2024
$508M
2024
Imports of goods and services, % of GDP
45.8%
2020
28.8%
2025
Exports of goods and services, % of GDP
59.6%
2020
10.6%
2025

Economic freedom indices

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

Cayman Islands Malawi
Economic freedom 74 50.7
Economic freedom ranking 22/197 159/197
Property rights n/a 49.5
Government integrity n/a 35
Judicial effectiveness n/a 51.8
Tax burden n/a 77
Government spending n/a 77.8
Fiscal health n/a 4.7
Business freedom n/a 34.1
Labor freedom n/a 55.2
Monetary freedom n/a 55.1
Trade freedom n/a 68.6
Investment freedom n/a 50
Financial freedom n/a 50

Other economic metrics

Cayman Islands Malawi
Services, % of GDP
86.5%
2024
48.7%
2025
Industry, % of GDP
7.64%
2024
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.45%
2024
30%
2025
GNI, Atlas method
$6.1B
2024
$13.4B
2025
GNI per capita, PPP
$74,470
2024
$1,880
2025
Total reserves including gold
$252M
2024
$594M
2020
Total reserves ranking
169/177
2024
154/177
2020
Net foreign direct investment
-$4.92B
2024
-$202M
2024
Net inflows of foreign direct investment
$3.18B
2024
$258M
2024
Net outflows of foreign direct investment
-$1.74B
2024
$56.4M
2024
Servicing debt to the IMF, % of GNI n/a
1.47%
2024
Poverty at national poverty lines n/a
50.7%
2019
Gross capital formation, % of GDP n/a
15.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/cayman-islands/malawi | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2026, retrieved 2026-07-08)
  2. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  6. LivingCost (2026, retrieved 2026-07-08)

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.