Skip to content

Economy of Malawi vs Malaysia compared: GDP & Debt

Updated on by Georank team

Malawi has a GDP of $11.3B compared to $422B for Malaysia, ranking 151/197 and 38/197 by economy size, respectively.

Malawi has $9.91B in government debt (87.6% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Malawi vs Malaysia GDP by year

Malawi
Malaysia
1x
Year GDP, current $
Malawi Malaysia
2024 $11,316,411,329 $422,227,005,429
2023 $13,363,669,673 $399,949,418,753
2022 $12,429,059,928 $407,830,525,990
2021 $12,378,119,199 $373,784,553,030
2020 $11,769,313,598 $337,456,163,961
2019 $11,051,852,713 $365,177,721,022
2018 $9,879,220,354 $358,788,845,713
2017 $8,943,543,794 $319,109,094,160
2016 $7,909,868,618 $301,256,033,870
2015 $9,219,474,379 $301,355,266,965
2014 $8,801,326,169 $338,066,095,097
2013 $8,031,571,928 $323,276,235,524
2012 $8,773,203,178 $314,443,047,642
2011 $11,648,142,958 $297,951,668,675
2010 $10,128,323,011 $255,017,638,456
2009 $9,009,887,947 $202,257,453,037
2008 $7,743,617,352 $230,811,614,370
2007 $6,451,210,219 $193,549,569,478
2006 $5,818,279,739 $162,692,258,307
2005 $5,320,409,651 $143,534,405,819
2004 $5,058,726,350 $124,749,473,684
2003 $4,669,789,300 $110,202,368,421
2002 $5,087,328,438 $100,845,526,316
2001 $2,498,008,665 $92,783,947,368
2000 $2,537,307,580 $93,789,736,842
1999 $2,584,478,924 $79,148,421,053
1998 $2,547,609,590 $72,167,498,981
1997 $3,875,785,863 $100,005,323,302
1996 $3,319,573,750 $100,855,393,910
1995 $2,033,701,498 $88,705,342,903
1994 $1,719,864,761 $74,478,356,958
1993 $3,013,392,658 $66,894,966,969
1992 $2,618,837,835 $59,167,550,163
1991 $3,206,783,830 $49,143,148,094
1990 $2,737,087,862 $44,024,585,240
1989 $2,314,205,130 $38,847,965,293
1988 $2,008,189,508 $35,272,109,220
1987 $1,721,711,808 $32,181,210,158
1986 $1,722,586,299 $27,734,111,400
1985 $1,646,442,273 $31,199,633,353
1984 $1,758,028,656 $33,942,897,422
1983 $1,780,148,049 $30,347,442,111
1982 $1,717,379,495 $26,804,493,635
1981 $1,801,193,910 $25,004,285,792
1980 $1,801,156,775 $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/malawi/malaysia | CC BY

GDP per capita in Malawi vs Malaysia by year

Malawi
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $523 $1,858 $11,874 $38,779
2023 $633 $1,830 $11,386 $36,467
2022 $604 $1,778 $11,755 $34,420
2021 $617 $1,688 $10,903 $29,823
2020 $603 $1,513 $9,958 $27,475
2019 $581 $1,450 $10,920 $28,934
2018 $533 $1,364 $10,902 $27,794
2017 $496 $1,380 $9,863 $26,416
2016 $451 $1,410 $9,477 $25,286
2015 $540 $1,403 $9,649 $24,526
2014 $530 $1,506 $11,013 $24,307
2013 $497 $1,558 $10,714 $23,161
2012 $558 $1,464 $10,601 $22,639
2011 $763 $1,516 $10,217 $21,324
2010 $683 $1,458 $8,899 $20,193
2009 $626 $1,388 $7,191 $18,923
2008 $554 $1,311 $8,372 $19,480
2007 $475 $1,231 $7,169 $18,617
2006 $441 $1,124 $6,158 $17,426
2005 $414 $1,071 $5,556 $16,371
2004 $405 $1,033 $4,939 $15,416
2003 $383 $979 $4,465 $14,387
2002 $428 $931 $4,184 $13,656
2001 $215.5 $924 $3,944 $13,072
2000 $224.2 $974 $4,084 $13,027
1999 $233.9 $961 $3,528 $11,980
1998 $236 $941 $3,294 $11,398
1997 $367 $915 $4,679 $12,469
1996 $321 $884 $4,837 $11,709
1995 $200.4 $825 $4,363 $10,720
1994 $169.2 $692 $3,758 $9,806
1993 $293 $746 $3,462 $9,018
1992 $258.4 $674 $3,141 $8,224
1991 $326 $732 $2,679 $7,583
1990 $286.7 $672 $2,469 $6,887
1989 $252.2 - $2,244 -
1988 $229.4 - $2,100 -
1987 $207.6 - $1,977 -
1986 $217.9 - $1,760 -
1985 $216.1 - $2,046 -
1984 $239.7 - $2,300 -
1983 $252.4 - $2,124 -
1982 $253.3 - $1,938 -
1981 $276.4 - $1,866 -
1980 $287.5 - $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/malawi/malaysia | CC BY

Malawi's GDP per capita is $523, ranking 194/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while Malaysia ranks 60th at $38,779.

Economic indicators

Malawi Malaysia
Gross domestic product
$11.3B
2024
$422B
2024
GDP rank
151/197
2024
38/197
2024
GDP growth
1.67%
2023-2024
5.11%
2023-2024
GDP per capita
$523
2024
$11,874
2024
GDP per capita rank
194/197
2024
79/197
2024
GDP per capita, PPP
$1,858
2024
$38,779
2024
GDP per capita PPP rank
189/197
2024
60/197
2024
Government debt
$9.91B
2024
$296B
2024
Debt-to-GDP ratio
87.6%
2024
70.1%
2024
Government debt per person
$458
2024
$8,322
2024
Government debt per person rank
168/185
2024
62/185
2024
Average annual personal income after taxes
$3,031
2026
$11,005
2026
Market capitalization of domestic companies n/a
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
31%
2019
30.9%
2021
Income share by poorest 10%
2.9%
2019
2.3%
2021
Government expenditure, % of GDP
29.5%
2024
23.9%
2024
Consumer prices inflation
32.2%
2023-2024
1.83%
2023-2024
Central bank interest rate
26%
2024
2.75%
2025
Unemployment rate
15.4%
2024
3.93%
2022
Population
22949294
36512221

Spending and national debt comparison by year

Malawi
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Malawi Malaysia
Government spending Government debt Government spending Government debt
2024 29.5% 87.6% 23.9% 70.1%
2023 25.5% 86.7% 24.9% 69.7%
2022 26.7% 75.7% 24.6% 65.5%
2021 23.7% 66.5% 24.5% 69.2%
2020 22.7% 53.9% 25% 67.7%
2019 19.3% 41.2% 23.6% 57.1%
2018 19.4% 40.8% 22.8% 55.6%
2017 21% 40% 22% 54.4%
2016 19.7% 37.1% 22.9% 55.8%
2015 19.5% 35.5% 24.7% 57%
2014 18.3% 33.5% 26% 55.4%
2013 20.7% 35.3% 27.8% 55.7%
2012 18.8% 28.6% 28.5% 53.8%
2011 17% 20% 27.1% 51.9%
2010 19.6% 19.3% 26.6% 51.2%
2009 20.2% 23.5% 30.9% 50.4%
2008 20.6% 23.5% 26.9% 39.4%
2007 20.7% 18.9% 25.9% 39.3%
2006 17.8% 17.9% 25.6% 39.7%
2005 17.4% 70.9% 24.5% 40.8%
2004 17.2% 74.7% 25.9% 42%
2003 15.4% 84.7% 28.1% 41.4%
2002 13.8% 101.5% 27.1% 39.5%
2001 - - 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/malawi/malaysia | CC BY

In 2024, Malawi's government spending was $3.34B, accounting for 29.5% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 87.6% in Malawi and 70.1% in Malaysia, ranking 35/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

Malaysia
1x
Year Deficit/surplus, % of GDP
Malawi Malaysia
2024 -11% -3.95%
2023 -7.84% -3.97%
2022 -9.32% -4.56%
2021 -8.34% -6.03%
2020 -8.03% -4.9%
2019 -4.55% -2.01%
2018 -4.35% -2.64%
2017 -5.15% -2.41%
2016 -4.9% -2.6%
2015 -4.17% -2.55%
2014 -3.08% -2.63%
2013 -3.73% -3.48%
2012 -1.45% -3.1%
2011 -2.85% -3.57%
2010 0.63% -4.32%
2009 -2.97% -5.88%
2008 -2.92% -3.4%
2007 -2.56% -2.57%
2006 -0.05% -2.6%
2005 -1.63% -2.83%
2004 -2.61% -3.35%
2003 -2.6% -4.6%
2002 -4.47% -3.96%
2001 - -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/malawi/malaysia | CC BY

In 2024, Malawi's government deficit, the difference between spending and revenue, was $1.24B, equivalent to 11% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 23 years, Malawi recorded a fiscal deficit in 22 of those years, while Malaysia ran a deficit in 23 years. On average, Malawi posted an annual deficit equal to 4.26% of GDP, compared to deficit of 3.56% of GDP for Malaysia.

Inflation comparison by year

Inflation
Malawi

Malaysia
1x
Year Consumer prices inflation
Malawi Malaysia
2024 32.2% 1.83%
2023 28.8% 2.49%
2022 20.8% 3.38%
2021 9.3% 2.48%
2020 8.6% -1.14%
2019 9.4% 0.66%
2018 9.2% 0.88%
2017 11.5% 3.87%
2016 21.7% 2.09%
2015 21.9% 2.1%
2014 23.8% 3.14%
2013 28.3% 2.11%
2012 21.3% 1.66%
2011 7.6% 3.17%
2010 7.4% 1.62%
2009 8.4% 0.58%
2008 8.7% 5.44%
2007 7.9% 2.03%
2006 13.9% 3.61%
2005 15.5% 2.98%
2004 11.4% 1.42%
2003 9.6% 1.09%
2002 14.7% 1.81%
2001 22.7% 1.42%
2000 29.6% 1.53%
1999 44.8% 2.74%
1998 29.8% 5.27%
1997 9.1% 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/malawi/malaysia | CC BY

Over the past 28 years, Malawi has recorded an average annual inflation rate of 17.4%, compared with 2.25% in Malaysia. In 2024, inflation was 32.2% in Malawi and 1.83% in Malaysia.

Top exports between countries

Malawi
Export category Export value
Raw agricultural goods $1.42M
Processed food, beverages & tobacco $230K
Machinery & equipment $55K
Animal & marine products $23K
Metals $1K
Malaysia
Export category Export value
Wood & paper products $3.59M
Chemicals & pharma $665K
Raw materials & minerals $468K
Processed food, beverages & tobacco $308K
Textiles & consumer goods $250K
Animal & marine products $82K
Metals $55K
Machinery & equipment $23K
Miscellaneous $13K
Precious metals & jewellery $1K

Balance of trade

Malawi Malaysia
Current account balance
-$2.13B
2024
$7.15B
2024
Current account balance ranking
145/190
2024
26/190
2024
Current account balance, % of GDP
-18.8%
2024
+1.69%
2024
Goods imports
$3.02B
2024
$223B
2024
Goods exports
$1.02B
2024
$248B
2024
Service imports
$895M
2024
$56.4B
2024
Service exports
$508M
2024
$53.4B
2024
Imports of goods and services, % of GDP
31.2%
2023
66%
2024
Exports of goods and services, % of GDP
11.2%
2023
71.3%
2024

Economic freedom indices

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

Malawi Malaysia
Economic freedom 50.7 68
Economic freedom ranking 159/197 51/197
Property rights 49.5 62.7
Government integrity 35 52.9
Judicial effectiveness 51.8 63.4
Tax burden 77 83.5
Government spending 77.8 82
Fiscal health 4.7 62.5
Business freedom 34.1 79.6
Labor freedom 55.2 55.4
Monetary freedom 55.1 80.8
Trade freedom 68.6 83
Investment freedom 50 60
Financial freedom 50 50

Economic freedom comparison by year

Malawi
Malaysia
1x
Year Economic freedom index
Malawi Malaysia
2026 50.7 68
2025 50.9 67.1
2024 52.1 65.7
2023 52.8 67.3
2022 53 68.1
2021 53 74.4
2020 52.8 74.7
2019 51.4 74
2018 52 74.5
2017 52.2 73.8
2016 51.8 71.5
2015 54.8 70.8
2014 55.4 69.6
2013 55.3 66.1
2012 56.4 66.4
2011 55.8 66.3
2010 54.1 64.8
2009 53.7 64.6
2008 52.7 63.9
2007 52.9 63.8
2006 55.4 61.6
2005 53.6 61.9
2004 53.6 59.9
2003 53.2 61.1
2002 56.9 60.1
2001 56.2 60.2
2000 57.4 66
1999 54 68.9
1998 54.1 68.2
1997 53.4 66.8
1996 56.2 69.9
1995 54.7 71.9

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

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

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi Malaysia
Services, % of GDP
44.2%
2024
53.7%
2024
Industry, % of GDP
17.1%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
31.8%
2024
8.13%
2024
GNI, Atlas method
$12.3B
2024
$414B
2024
GNI per capita, PPP
$1,830
2024
$37,450
2024
Total reserves including gold
$594M
2020
$116B
2024
Total reserves ranking
154/177
2020
24/177
2024
Net foreign direct investment
-$202M
2024
-$2.55B
2024
Net inflows of foreign direct investment
$681M
2024
$15.6B
2024
Net outflows of foreign direct investment
$56.4M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
n/a
Poverty at national poverty lines
50.7%
2019
5.8%
2023
Gross capital formation, % of GDP
14.5%
2023
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/malawi/malaysia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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.