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Economy of Iran vs Malaysia compared: GDP & Debt

Updated on by Georank team

Iran has a GDP of $475B compared to $422B for Malaysia, ranking 34/197 and 38/197 by economy size, respectively.

Iran has $162B in government debt (34% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Iran vs Malaysia GDP by year

Iran
Malaysia
1x
Year GDP, current $
Iran Malaysia
2024 $475,252,089,215 $422,227,005,429
2023 $457,510,482,317 $399,949,418,753
2022 $422,662,261,526 $407,830,525,990
2021 $407,350,685,583 $373,784,553,030
2020 $280,934,329,280 $337,456,163,961
2019 $347,988,400,958 $365,177,721,022
2018 $411,903,303,606 $358,788,845,713
2017 $510,239,893,418 $319,109,094,160
2016 $478,618,064,871 $301,256,033,870
2015 $409,191,686,497 $301,355,266,965
2014 $462,284,793,281 $338,066,095,097
2013 $500,399,839,840 $323,276,235,524
2012 $644,019,315,004 $314,443,047,642
2011 $629,082,257,472 $297,951,668,675
2010 $487,069,570,464 $255,017,638,456
2009 $414,059,094,949 $202,257,453,037
2008 $406,070,949,554 $230,811,614,370
2007 $349,736,591,832 $193,549,569,478
2006 $265,602,187,404 $162,692,258,307
2005 $224,970,371,325 $143,534,405,819
2004 $187,754,571,248 $124,749,473,684
2003 $151,911,222,119 $110,202,368,421
2002 $128,626,917,504 $100,845,526,316
2001 $126,878,750,296 $92,783,947,368
2000 $109,591,707,802 $93,789,736,842
1999 $113,848,450,088 $79,148,421,053
1998 $110,276,913,363 $72,167,498,981
1997 $113,919,163,421 $100,005,323,302
1996 $120,403,931,885 $100,855,393,910
1995 $96,419,225,744 $88,705,342,903
1994 $71,841,461,173 $74,478,356,958
1993 $63,743,623,232 $66,894,966,969
1992 $119,768,691,217 $59,167,550,163
1991 $131,637,664,958 $49,143,148,094
1990 $124,813,263,926 $44,024,585,240
1989 $120,496,362,916 $38,847,965,293
1988 $123,057,861,334 $35,272,109,220
1987 $134,009,995,923 $32,181,210,158
1986 $209,094,561,833 $27,734,111,400
1985 $180,183,629,600 $31,199,633,353
1984 $162,276,728,620 $33,942,897,422
1983 $156,365,156,618 $30,347,442,111
1982 $125,948,756,439 $26,804,493,635
1981 $100,499,312,750 $25,004,285,792
1980 $94,362,275,580 $24,488,224,677
1979 $90,391,877,326 $21,213,264,962
1978 $77,994,316,621 $16,358,079,862
1977 $80,600,122,702 $13,139,488,633
1976 $68,055,295,081 $11,050,234,599
1975 $51,776,222,350 $9,298,800,799
1974 $46,209,092,072 $9,496,204,302
1973 $27,081,698,250 $7,662,902,678
1972 $17,153,463,263 $5,043,347,250
1971 $13,731,802,833 $4,244,395,956
1970 $10,976,245,154 $3,864,145,667
1969 $9,743,089,607 $3,664,552,041
1968 $8,623,172,960 $3,330,371,551
1967 $7,555,383,690 $3,188,924,677
1966 $6,789,938,672 $3,143,517,944
1965 $6,197,319,929 $2,956,337,669
1964 $5,379,845,648 $2,674,423,922
1963 $4,928,628,018 $2,510,110,348
1962 $4,693,566,416 $2,001,489,602
1961 $4,426,949,095 $1,901,856,123
1960 $4,199,134,390 $1,916,229,477

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

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

GDP per capita in Iran vs Malaysia by year

Iran
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iran Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,190 $19,874 $11,874 $38,779
2023 $5,049 $18,917 $11,386 $36,467
2022 $4,721 $17,546 $11,755 $34,420
2021 $4,605 $15,884 $10,903 $29,823
2020 $3,203 $15,119 $9,958 $27,475
2019 $3,997 $13,928 $10,920 $28,934
2018 $4,783 $15,324 $10,902 $27,794
2017 $6,001 $15,719 $9,863 $26,416
2016 $5,711 $15,195 $9,477 $25,286
2015 $4,953 $14,274 $9,649 $24,526
2014 $5,672 $16,065 $11,013 $24,307
2013 $6,223 $16,215 $10,714 $23,161
2012 $8,114 $17,021 $10,601 $22,639
2011 $8,026 $19,275 $10,217 $21,324
2010 $6,291 $18,628 $8,899 $20,193
2009 $5,416 $17,615 $7,191 $18,923
2008 $5,377 $17,549 $8,372 $19,480
2007 $4,688 $17,384 $7,169 $18,617
2006 $3,619 $15,907 $6,158 $17,426
2005 $3,132 $15,016 $5,556 $16,371
2004 $2,672 $14,425 $4,939 $15,416
2003 $2,209 $13,755 $4,465 $14,387
2002 $1,891 $12,554 $4,184 $13,656
2001 $1,881 $11,533 $3,944 $13,072
2000 $1,650 $11,187 $4,084 $13,027
1999 $1,740 $10,489 $3,528 $11,980
1998 $1,709 $10,285 $3,294 $11,398
1997 $1,790 $10,101 $4,679 $12,469
1996 $1,915 $9,916 $4,837 $11,709
1995 $1,550 $9,255 $4,363 $10,720
1994 $1,168 $8,951 $3,758 $9,806
1993 $1,038 $8,933 $3,462 $9,018
1992 $1,957 $8,888 $3,141 $8,224
1991 $2,194 $8,580 $2,679 $7,583
1990 $2,138 $7,566 $2,469 $6,887
1989 $2,125 - $2,244 -
1988 $2,234 - $2,100 -
1987 $2,513 - $1,977 -
1986 $4,064 - $1,760 -
1985 $3,634 - $2,046 -
1984 $3,395 - $2,300 -
1983 $3,397 - $2,124 -
1982 $2,845 - $1,938 -
1981 $2,393 - $1,866 -
1980 $2,368 - $1,886 -
1979 $2,352 - $1,680 -
1978 $2,101 - $1,327 -
1977 $2,243 - $1,092 -
1976 $1,954 - $940 -
1975 $1,532 - $811 -
1974 $1,409 - $848 -
1973 $851 - $701 -
1972 $555 - $472 -
1971 $457 - $407 -
1970 $377 - $380 -
1969 $345 - $368 -
1968 $314 - $342 -
1967 $283.7 - $335 -
1966 $262.9 - $339 -
1965 $247.5 - $326 -
1964 $221.7 - $303 -
1963 $209.6 - $291.8 -
1962 $205.8 - $238.8 -
1961 $200.1 - $232.9 -
1960 $195.6 - $240.8 -

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

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

Iran's GDP per capita is $5,190, ranking 119/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Iran ranks 97th at $19,874, while Malaysia ranks 60th at $38,779.

Economic indicators

Iran Malaysia
Gross domestic product
$475B
2024
$422B
2024
GDP rank
34/197
2024
38/197
2024
GDP growth
3.66%
2023-2024
5.11%
2023-2024
GDP per capita
$5,190
2024
$11,874
2024
GDP per capita rank
119/197
2024
79/197
2024
GDP per capita, PPP
$19,874
2024
$38,779
2024
GDP per capita PPP rank
97/197
2024
60/197
2024
Government debt
$162B
2024
$296B
2024
Debt-to-GDP ratio
34%
2024
70.1%
2024
Government debt per person
$1,764
2024
$8,322
2024
Government debt per person rank
122/185
2024
62/185
2024
Average annual personal income after taxes
$2,964
2026
$11,005
2026
Market capitalization of domestic companies
$172B
2024
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
28.2%
2023
30.9%
2021
Income share by poorest 10%
2.8%
2023
2.3%
2021
Government expenditure, % of GDP
14.2%
2024
23.9%
2024
Consumer prices inflation
32.5%
2023-2024
1.83%
2023-2024
Central bank interest rate
23%
2023
2.75%
2025
Unemployment rate
7.63%
2024
3.93%
2022
Population
93468444
36512221

Spending and national debt comparison by year

Iran
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Iran Malaysia
Government spending Government debt Government spending Government debt
2024 14.2% 34% 23.9% 70.1%
2023 12.8% 29.6% 24.9% 69.7%
2022 12.8% 34.5% 24.6% 65.5%
2021 13.4% 39.9% 24.5% 69.2%
2020 12.1% 47.1% 25% 67.7%
2019 13.6% 44.6% 23.6% 57.1%
2018 14.8% 41.6% 22.8% 55.6%
2017 16.4% 43.2% 22% 54.4%
2016 16.3% 45.9% 22.9% 55.8%
2015 14.1% 32.1% 24.7% 57%
2014 12.3% 10.9% 26% 55.4%
2013 11.5% 10.2% 27.8% 55.7%
2012 11.4% 11.7% 28.5% 53.8%
2011 14.6% 10.6% 27.1% 51.9%
2010 14.1% 12.8% 26.6% 51.2%
2009 15.7% 11.5% 30.9% 50.4%
2008 16.8% 10.6% 26.9% 39.4%
2007 14.2% 13.5% 25.9% 39.3%
2006 18.7% 15.2% 25.6% 39.7%
2005 17.9% 18.3% 24.5% 40.8%
2004 15.1% 21.1% 25.9% 42%
2003 15.7% 21.9% 28.1% 41.4%
2002 15.6% 23.4% 27.1% 39.5%
2001 13.6% 21% 28.2% 38.1%
2000 13.3% 18.2% 25.6% 32.5%
1999 15.7% 22.2% 24.6% 34.4%
1998 16.9% 29.6% 23.1% 33.6%
1997 17.4% 30.9% 21.2% 29.6%
1996 17.3% 29.3% 22.4% 32.8%
1995 21% 31.2% 22.6% 38.2%
1994 23% 41.7% 23.3% 43.7%
1993 27.2% 25.6% 24.6% 51.1%
1992 14.4% 25.2% 28.2% 59.1%
1991 14% 29.3% 27.4% 67.3%
1990 16.4% 37% 30.5% 74.1%
1989 20% 48.8% - -
1988 23.6% 53.2% - -
1987 18.6% 48.6% - -
1986 19% 47.4% - -
1985 21.6% 8.73% - -
1984 23.7% 10% - -
1983 27.5% 35.7% - -
1982 29.7% 47.7% - -
1981 33.7% 47.6% - -
1980 35.8% 35.5% - -
1979 - - - -
1978 - - - -
1977 - 9.23% - -
1976 - 6.92% - -
1975 - 8.81% - -
1974 - 6.68% - -
1973 - 12.8% - -
1972 - 12.7% - -
1971 - 14.2% - -
1970 - 14.1% - -
1969 - - - -
1968 23.6% - - -
1967 22.3% - - -
1966 20.5% - - -
1965 16.3% 14.9% - -
1964 15.4% 15.2% - -
1963 14.8% 12.4% - -
1962 15.6% 13.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

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

In 2024, Iran's government spending was $67.5B, accounting for 14.2% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 34% in Iran and 70.1% in Malaysia, ranking 147/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Iran

Malaysia
1x
Year Deficit/surplus, % of GDP
Iran Malaysia
2024 -3.83% -3.95%
2023 -2.54% -3.97%
2022 -2.64% -4.56%
2021 -3.01% -6.03%
2020 -4.87% -4.9%
2019 -4.3% -2.01%
2018 -1.59% -2.64%
2017 -1.55% -2.41%
2016 -1.7% -2.6%
2015 -1.3% -2.55%
2014 -0.91% -2.63%
2013 -0.72% -3.48%
2012 -0.5% -3.1%
2011 -0.66% -3.57%
2010 -0.84% -4.32%
2009 -3.3% -5.88%
2008 -4.39% -3.4%
2007 -2.41% -2.57%
2006 -4.91% -2.6%
2005 -2.44% -2.83%
2004 -2.45% -3.35%
2003 -2.76% -4.6%
2002 -2.88% -3.96%
2001 0.02% -4.36%
2000 5.42% -6.05%
1999 -0.51% -3%
1998 -5.03% -0.63%
1997 -1.81% 4.84%
1996 -0.75% 3.27%
1995 -2.63% 3.1%
1994 -3.36% 5.45%
1993 -5.15% 3.44%
1992 -0.86% 1.81%
1991 -1.64% 1.6%
1990 -1.73% 0.15%
1989 -4.45% -
1988 -10.3% -
1987 -6.84% -
1986 -7.84% -
1985 -3.74% -
1984 -4.02% -
1983 -6.15% -
1982 -5.55% -
1981 -10.7% -
1980 -14.2% -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 -4.57% -
1967 -4% -
1966 -2.63% -
1965 -1.23% -
1964 -0.04% -
1963 0.26% -
1962 -1.39% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

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

In 2024, Iran's government deficit, the difference between spending and revenue, was $18.2B, equivalent to 3.83% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 35 years, Iran recorded a fiscal deficit in 33 of those years, while Malaysia ran a deficit in 27 years. On average, Iran posted an annual deficit equal to 2.13% of GDP, compared to deficit of 2.07% of GDP for Malaysia.

Inflation comparison by year

Inflation
Iran

Malaysia
1x
Year Consumer prices inflation
Iran Malaysia
2024 32.5% 1.83%
2023 44.6% 2.49%
2022 43.5% 3.38%
2021 43.4% 2.48%
2020 30.6% -1.14%
2019 39.9% 0.66%
2018 18% 0.88%
2017 8.04% 3.87%
2016 7.25% 2.09%
2015 12.5% 2.1%
2014 16.6% 3.14%
2013 36.6% 2.11%
2012 27.3% 1.66%
2011 26.3% 3.17%
2010 10.1% 1.62%
2009 13.6% 0.58%
2008 25.4% 5.44%
2007 17.3% 2.03%
2006 10% 3.61%
2005 13.4% 2.98%
2004 14.8% 1.42%
2003 16.5% 1.09%
2002 14.3% 1.81%
2001 11.3% 1.42%
2000 14.5% 1.53%
1999 20.1% 2.74%
1998 17.9% 5.27%
1997 17.3% 2.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Iran has recorded an average annual inflation rate of 21.6%, compared with 2.25% in Malaysia. In 2024, inflation was 32.5% in Iran and 1.83% in Malaysia.

Top exports between countries

Iran
Export category Export value
Metals $120M
Raw materials & minerals $62.4M
Animal & marine products $8.37M
Raw agricultural goods $7.41M
Textiles & consumer goods $5.03M
Chemicals & pharma $2.19M
Processed food, beverages & tobacco $782K
Precious metals & jewellery $173K
Machinery & equipment $87K
Wood & paper products $85K
Malaysia
Export category Export value
Processed food, beverages & tobacco $416M
Textiles & consumer goods $35.6M
Metals $22.7M
Chemicals & pharma $19.2M
Raw materials & minerals $18.8M
Machinery & equipment $14.7M
Raw agricultural goods $7.48M
Wood & paper products $882K
Miscellaneous $247K
Precious metals & jewellery $230K

Balance of trade

Iran Malaysia
Current account balance
$12.5B
2000
$7.15B
2024
Current account balance ranking
22/190
2000
26/190
2024
Current account balance, % of GDP
+11.4%
2000
+1.69%
2024
Goods imports
$15.2B
2000
$223B
2024
Goods exports
$28.3B
2000
$248B
2024
Service imports
$2.3B
2000
$56.4B
2024
Service exports
$1.38B
2000
$53.4B
2024
Imports of goods and services, % of GDP
28.5%
2024
66%
2024
Exports of goods and services, % of GDP
23.6%
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.

Iran Malaysia
Economic freedom 41.8 68
Economic freedom ranking 185/197 51/197
Property rights 20.2 62.7
Government integrity 16.2 52.9
Judicial effectiveness 18.7 63.4
Tax burden 81.3 83.5
Government spending 94.7 82
Fiscal health 83.3 62.5
Business freedom 37.4 79.6
Labor freedom 41.8 55.4
Monetary freedom 42.2 80.8
Trade freedom 55.8 83
Investment freedom 5 60
Financial freedom 5 50

Economic freedom comparison by year

Iran
Malaysia
1x
Year Economic freedom index
Iran Malaysia
2026 41.8 68
2025 42.5 67.1
2024 41.2 65.7
2023 42.2 67.3
2022 42.4 68.1
2021 47.2 74.4
2020 49.2 74.7
2019 51.1 74
2018 50.9 74.5
2017 50.5 73.8
2016 43.5 71.5
2015 41.8 70.8
2014 40.3 69.6
2013 43.2 66.1
2012 42.3 66.4
2011 42.1 66.3
2010 43.4 64.8
2009 44.6 64.6
2008 45 63.9
2007 45 63.8
2006 45 61.6
2005 50.5 61.9
2004 42.8 59.9
2003 43.2 61.1
2002 36.4 60.1
2001 35.9 60.2
2000 36.1 66
1999 36.8 68.9
1998 36 68.2
1997 34.5 66.8
1996 36.1 69.9
1995 - 71.9

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

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

The Economic Freedom Index for Iran is 41.8, ranking 185/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Iran Malaysia
Services, % of GDP
49.8%
2024
53.7%
2024
Industry, % of GDP
36.1%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
10.8%
2024
8.13%
2024
GNI, Atlas method
$469B
2024
$414B
2024
GNI per capita, PPP
$19,820
2024
$37,450
2024
Total reserves including gold
$7.69B
1982
$116B
2024
Total reserves ranking
85/177
1982
24/177
2024
Net foreign direct investment
-$39M
2000
-$2.55B
2024
Net inflows of foreign direct investment
$1.45B
2024
$15.6B
2024
Net outflows of foreign direct investment
$89.4M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
0.08%
2024
n/a
Poverty at national poverty lines
18.7%
2020
5.8%
2023
Gross capital formation, % of GDP
44.3%
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/iran/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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.