Malawi vs Nigeria: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Malawi |  Nigeria |
|---|---|---|
| GDP | $7.1B | $397.3B |
| GDP growth, 1 year | 3.2% | 1.9% |
| GDP growth, 5-years average | 3.6% | 2% |
| Population | 18.6M | 190.9M |
| GDP per capita | $389 | $2k |
| GDP per capita growth | 0.8% | -0.67% |
| Purchasing Power Parity conversion factor | 217.52 | 110.03 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.3 | 0.34 |
| GDP per capita, PPP adjusted | $1.2k | $6k |
| GNI, Atlas method | $6.5B | $384.8B |
| GNI per capita | $360 | $2k |
| GNI, PPP adjusted | $23.7B | $1.1T |
| GNI per capita, PPP adjusted | $1.3k | $5.7k |
Financial system and Human development
| Stat | Malawi | Nigeria |
|---|---|---|
| Income Tax Rate | 30% | 24% |
| Corporate Tax Rate | 30% | 30% |
| Inflation, consumer prices | 9.2% | 12.1% |
| Inflation, GDP deflator | 8.6% | 10.2% |
| Unemployment | 5.4% | 6% |
| Economic Freedom Index | 52.8 | 57.2 |
| Personal Freedom Index | 7.18 | 6.01 |
| Human Freedom Index | 6.68 | 6.1 |
| Property Rights Index | 43.1 | 38.1 |
| Judical Effectiveness Index | 42.1 | 32.2 |
| Business Freedom Index | 41.9 | 54.7 |
| Fiscal Health Index | 23.6 | 64.1 |
| Labor Freedom Index | 62.8 | 84 |
| Investment Freedom Index | 50 | 45 |
| Financial Freedom Index | 50 | 40 |
| Trade Freedom Index | 75.4 | 62.4 |
| Monetary Freedom Index | 69.1 | 61.7 |
| Government Spending Index | 71.7 | 96.2 |
| Tax Burden Index | 79 | 85.1 |
| Government Integrity Index | 24.8 | 22.3 |
| Corruption Perceptions Index | 32 | 27 |
| Life expectancy at birth, years | 63.3 | 54 |
| Suicide mortality rate, per 100,000 people | 3.7 | 9.5 |
| Mortality caused by road traffic injury, per 100,000 people | 31 | 21.4 |
| Intentional homicides, per 100,000 people | 1.7 | 9.9 |
| International tourism, number of arrivals | 871k | 5.3M |
Government debt & reserves
| Stat | Malawi | Nigeria |
|---|---|---|
| Central government debt, % of GDP | 61.3% | 28.4% |
| External debt stocks, % of GNI | 32.2% | 12.4% |
| External debt stocks | $2.3B | $47B |
| Short-term debt, % of total reserves | 3% | 0% |
| Total debt service, % of exports and primary income | 5.7% | 8.3% |
| Adjusted net savings including particulate emission damage, % of GNI | -16.7% | 1.4% |
| Gross savings, % of GDP | 13.2% | 19.3% |
| Gross capital formation, % of GDP | 13.4% | 19.8% |
| Total reserves including gold | $759.6M | $42.8B |
| Foreign direct investment net inflows | $102M | $2B |
Exports, imports and economic structure
| Stat | Malawi | Nigeria |
|---|---|---|
| Exports of goods and services, % of GDP | 29.2% | 15.5% |
| Imports of goods and services, % of GDP | 36.2% | 17.5% |
| Current account balance (balance of payments) | -$1.4B | $5.3B |
| Revenue excluding grants, % of GDP | 18.1% | N/A |
| Grants excluding technical cooperation, BoP | $973.7M | $2B |
| Personal remittances received | $181.6M | $24.3B |
| Industry including construction value added, % of GDP | 14.4% | 25.7% |
| Agriculture, forestry and fishing value added, % of GDP | 26.1% | 21.2% |
| Charges for the use of intellectual property, payments BoP | $3.2M | $252.8M |
| Charges for the use of intellectual property, receipts BoP | N/A | $7.8M |
| Expense, % of GDP | 20.9% | N/A |
| Government Expenditure, % of GDP | 30.7% | 11.2% |
