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Economy of Malawi vs North Korea compared: GDP & Debt

Updated on by Georank team

Malawi has a GDP of $11.3B compared to $34.9B for North Korea, ranking 151/197 and 106/197 by economy size, respectively.

Malawi vs North Korea GDP by year

Malawi
North Korea
1x
Year GDP, current $
Malawi North Korea
2024 $11,316,411,329 $34,943,120,000
2023 $13,363,669,673 $32,155,360,000
2022 $12,429,059,928 $28,971,360,000
2021 $12,378,119,199 $32,301,720,000
2020 $11,769,313,598 $27,728,240,000
2019 $11,051,852,713 $28,222,880,000
2018 $9,879,220,354 $28,536,400,000
2017 $8,943,543,794 $29,105,440,000
2016 $7,909,868,618 $28,882,640,000
2015 $9,219,474,379 $30,723,030,000
2014 $8,801,326,169 $30,554,460,000
2013 $8,031,571,928 $30,588,922,000
2012 $8,773,203,178 $29,890,710,000
2011 $11,648,142,958 $29,005,020,000
2010 $10,128,323,011 $25,995,513,000
2009 $9,009,887,947 $23,356,470,000
2008 $7,743,617,352 -
2007 $6,451,210,219 -
2006 $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 (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/malawi/north-korea | CC BY

GDP per capita in Malawi vs North Korea by year

Malawi
GDP per capita

GDP per capita, PPP
North Korea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi North Korea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $523 $1,858 $1,319 -
2023 $633 $1,830 $1,217 -
2022 $604 $1,778 $1,100 -
2021 $617 $1,688 $1,231 -
2020 $603 $1,513 $1,061 -
2019 $581 $1,450 $1,084 -
2018 $533 $1,364 $1,100 -
2017 $496 $1,380 $1,127 -
2016 $451 $1,410 $1,124 -
2015 $540 $1,403 $1,201 $1,700
2014 $530 $1,506 $1,201 $1,800
2013 $497 $1,558 $1,208 -
2012 $558 $1,464 $1,186 -
2011 $763 $1,516 $1,156 $1,800
2010 $683 $1,458 $1,040 -
2009 $626 $1,388 $939 $1,800
2008 $554 $1,311 - $1,800
2007 $475 $1,231 - $1,700
2006 $441 $1,124 - $1,800
2005 $414 $1,071 - $1,700
2004 $405 $1,033 - $1,700
2003 $383 $979 - $1,300
2002 $428 $931 - $1,000
2001 $215.5 $924 - -
2000 $224.2 $974 - $1,000
1999 $233.9 $961 - $1,000
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 (1980–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20).

GeoRank.org/economy/malawi/north-korea | CC BY

Malawi's GDP per capita is $523, ranking 194/197, compared to $1,319 in North Korea, ranking 168/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while North Korea ranks 193rd at $1,700.

Economic indicators

Malawi North Korea
Gross domestic product
$11.3B
2024
$34.9B
2024
GDP rank
151/197
2024
106/197
2024
GDP growth
1.67%
2023-2024
n/a
GDP per capita
$523
2024
$1,319
2024
GDP per capita rank
194/197
2024
168/197
2024
GDP per capita, PPP
$1,858
2024
$1,700
2015
GDP per capita PPP rank
189/197
2024
193/197
2015
Government debt
$9.91B
2024
n/a
Debt-to-GDP ratio
87.6%
2024
n/a
Government debt per person
$458
2024
n/a
Government debt per person rank
168/185
2024
n/a
Average annual personal income after taxes
$3,031
2026
$1,426
2026
Income share by richest 10%
31%
2019
n/a
Income share by poorest 10%
2.9%
2019
n/a
Government expenditure, % of GDP
29.5%
2024
n/a
Consumer prices inflation
32.2%
2023-2024
n/a
Central bank interest rate
26%
2024
n/a
Unemployment rate
15.4%
2024
25.6%
2013
Population
22949294
26659144

Top exports between countries

Malawi
Export category Export value
Textiles & consumer goods $3K
Machinery & equipment $1K
North Korea
Export category Export value
Machinery & equipment $7K
Wood & paper products $1K

Balance of trade

Malawi North Korea
Current account balance
-$2.13B
2024
n/a
Current account balance ranking
145/190
2024
n/a
Current account balance, % of GDP
-18.8%
2024
n/a
Goods imports
$3.02B
2024
n/a
Goods exports
$1.02B
2024
n/a
Service imports
$895M
2024
n/a
Service exports
$508M
2024
n/a
Imports of goods and services, % of GDP
31.2%
2023
n/a
Exports of goods and services, % of GDP
11.2%
2023
n/a

Economic freedom indices

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

Malawi North Korea
Economic freedom 50.7 3.1
Economic freedom ranking 159/197 197/197
Property rights 49.5 16.3
Government integrity 35 4.3
Judicial effectiveness 51.8 6.3
Tax burden 77 0
Government spending 77.8 0
Fiscal health 4.7 0
Business freedom 34.1 5
Labor freedom 55.2 5
Monetary freedom 55.1 0
Trade freedom 68.6 0
Investment freedom 50 0
Financial freedom 50 0

Economic freedom comparison by year

Malawi
North Korea
1x
Year Economic freedom index
Malawi North Korea
2026 50.7 3.1
2025 50.9 3
2024 52.1 2.9
2023 52.8 2.9
2022 53 3
2021 53 5.2
2020 52.8 4.2
2019 51.4 5.9
2018 52 5.8
2017 52.2 4.9
2016 51.8 2.3
2015 54.8 1.3
2014 55.4 1
2013 55.3 1.5
2012 56.4 1
2011 55.8 1
2010 54.1 1
2009 53.7 2
2008 52.7 3
2007 52.9 3
2006 55.4 4
2005 53.6 8
2004 53.6 8.9
2003 53.2 8.9
2002 56.9 8.9
2001 56.2 8.9
2000 57.4 8.9
1999 54 8.9
1998 54.1 8.9
1997 53.4 8.9
1996 56.2 8.9
1995 54.7 8.9

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

GeoRank.org/economy/malawi/north-korea | CC BY

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 3.1 for North Korea, ranking 197/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi North Korea
Services, % of GDP
44.2%
2024
n/a
Industry, % of GDP
17.1%
2024
n/a
Agriculture, forestry, and fishing, % of GDP
31.8%
2024
n/a
GNI, Atlas method
$12.3B
2024
n/a
GNI per capita, PPP
$1,830
2024
n/a
Total reserves including gold
$594M
2020
n/a
Total reserves ranking
154/177
2020
n/a
Net foreign direct investment
-$202M
2024
n/a
Net inflows of foreign direct investment
$681M
2024
$203K
1989
Net outflows of foreign direct investment
$56.4M
2024
$0
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
n/a
Poverty at national poverty lines
50.7%
2019
n/a
Gross capital formation, % of GDP
14.5%
2023
n/a

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/north-korea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  3. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  4. Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.