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Economy of Malawi vs Pakistan compared: GDP & Debt

Updated on by Georank

Malawi has a GDP of $14.9B compared to $407B for Pakistan, ranking 148/197 and 41/197 by economy size, respectively.

Malawi has $11.7B in government debt (78.4% of GDP), compared to $297B (72.8% of GDP) in Pakistan.

Malawi vs Pakistan GDP by year

Malawi
Pakistan
1x
Year GDP, current $
Malawi Pakistan
2025 $14,918,276,698 $407,307,214,476
2024 $11,311,971,400 $371,747,087,751
2023 $13,363,669,673 $336,686,348,609
2022 $12,429,059,928 $374,890,295,667
2021 $12,378,119,199 $348,516,647,445
2020 $11,769,313,598 $300,425,609,818
2019 $11,051,852,713 $320,909,472,771
2018 $9,879,220,354 $356,128,166,705
2017 $8,943,543,794 $339,205,534,861
2016 $7,909,868,618 $313,630,000,130
2015 $9,219,474,379 $299,963,590,535
2014 $8,801,326,169 $271,390,474,858
2013 $8,031,571,928 $258,657,231,672
2012 $8,773,203,178 $250,106,966,105
2011 $11,648,142,958 $230,586,581,060
2010 $10,128,323,011 $196,709,621,850
2009 $9,009,887,947 $187,337,783,856
2008 $7,743,617,352 $202,203,748,584
2007 $6,451,210,219 $184,140,869,997
2006 $5,818,279,739 $161,871,385,506
2005 $5,320,409,651 $145,208,562,961
2004 $5,058,726,350 $132,216,048,339
2003 $4,669,789,300 $112,371,913,741
2002 $5,087,328,438 $97,923,302,809
2001 $2,498,008,665 $97,145,618,480
2000 $2,537,307,580 $99,484,802,345
1999 $2,584,478,924 $62,973,857,069
1998 $2,547,609,590 $62,191,955,814
1997 $3,875,785,863 $62,433,340,468
1996 $3,319,573,750 $63,320,170,084
1995 $2,033,701,498 $60,636,071,684
1994 $1,719,864,761 $52,293,470,813
1993 $3,013,392,658 $51,809,999,353
1992 $2,618,837,835 $48,884,671,947
1991 $3,206,783,830 $45,625,336,680
1990 $2,737,087,862 $40,010,423,970
1989 $2,314,205,130 $40,171,106,279
1988 $2,008,189,508 $38,472,742,808
1987 $1,721,711,808 $33,351,529,275
1986 $1,722,586,299 $31,899,070,056
1985 $1,646,442,273 $31,144,920,844
1984 $1,758,028,656 $31,151,825,467
1983 $1,780,148,049 $28,691,889,764
1982 $1,717,379,495 $30,725,971,564
1981 $1,801,193,910 $28,100,606,061
1980 $1,801,156,775 $23,654,444,444
1979 - $19,688,383,838
1978 - $17,811,515,152
1977 - $15,126,060,606
1976 - $13,168,080,808
1975 - $11,230,606,061
1974 - $8,899,191,919
1973 - $6,383,429,490
1972 - $9,415,016,360
1971 - $10,665,896,682
1970 - $10,027,509,450
1969 - $8,683,116,338
1968 - $8,041,999,160
1967 - $7,464,510,710
1966 - $6,561,108,778
1965 - $5,929,231,415
1964 - $5,204,955,901
1963 - $4,630,827,383
1962 - $4,310,163,797
1961 - $4,118,647,627
1960 - $3,749,265,015

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Malawi vs Pakistan by year

Malawi
GDP per capita

GDP per capita, PPP
Pakistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi Pakistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $672 - $1,596 -
2024 $522 $1,858 $1,479 $6,252
2023 $633 $1,830 $1,360 $6,014
2022 $604 $1,778 $1,538 $5,920
2021 $617 $1,688 $1,455 $5,367
2020 $603 $1,513 $1,278 $5,048
2019 $581 $1,450 $1,390 $5,038
2018 $533 $1,364 $1,569 $4,979
2017 $496 $1,380 $1,519 $4,790
2016 $451 $1,410 $1,425 $4,631
2015 $540 $1,403 $1,380 $4,480
2014 $530 $1,506 $1,267 $4,313
2013 $497 $1,558 $1,225 $4,174
2012 $558 $1,464 $1,204 $4,047
2011 $763 $1,516 $1,132 $3,880
2010 $683 $1,458 $987 $3,786
2009 $626 $1,388 $964 $3,777
2008 $554 $1,311 $1,067 $3,721
2007 $475 $1,231 $998 $3,672
2006 $441 $1,124 $901 $3,515
2005 $414 $1,071 $828 $3,293
2004 $405 $1,033 $772 $3,048
2003 $383 $979 $672 $2,822
2002 $428 $931 $600 $2,688
2001 $215.5 $924 $610 $2,644
2000 $224.2 $974 $642 $2,565
1999 $233.9 $961 $418 $2,475
1998 $236 $941 $424 $2,419
1997 $367 $915 $438 $2,398
1996 $321 $884 $457 $2,401
1995 $200.4 $825 $451 $2,315
1994 $169.2 $692 $400 $2,224
1993 $293 $746 $408 $2,160
1992 $258.4 $674 $396 $2,132
1991 $326 $732 $380 $1,992
1990 $286.7 $672 $344 $1,895
1989 $252.2 - $358 -
1988 $229.4 - $354 -
1987 $207.6 - $317 -
1986 $217.9 - $314 -
1985 $216.1 - $317 -
1984 $239.7 - $327 -
1983 $252.4 - $311 -
1982 $253.3 - $345 -
1981 $276.4 - $328 -
1980 $287.5 - $287.4 -
1979 - - $249.2 -
1978 - - $233.4 -
1977 - - $204.7 -
1976 - - $183.9 -
1975 - - $161.7 -
1974 - - $132 -
1973 - - $97.5 -
1972 - - $148.1 -
1971 - - $172.5 -
1970 - - $166.7 -
1969 - - $148.5 -
1968 - - $141.6 -
1967 - - $135.2 -
1966 - - $122.2 -
1965 - - $113.6 -
1964 - - $102.5 -
1963 - - $93.7 -
1962 - - $89.5 -
1961 - - $87.8 -
1960 - - $82 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Malawi's GDP per capita is $672, ranking 190/197, compared to $1,596 in Pakistan, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while Pakistan ranks 150th at $6,252.

Economic indicators

Malawi Pakistan
Gross domestic product
$14.9B
2025
$407B
2025
GDP rank
148/197
2025
41/197
2025
GDP growth
1.89%
2024-2025
3.7%
2024-2025
GDP per capita
$672
2025
$1,596
2025
GDP per capita rank
190/197
2025
164/197
2025
GDP per capita, PPP
$1,858
2024
$6,252
2024
GDP per capita PPP rank
189/197
2024
150/197
2024
Government debt
$11.7B
2025
$297B
2025
Debt-to-GDP ratio
78.4%
2025
72.8%
2025
Government debt per person
$526
2025
$1,162
2025
Government debt per person rank
166/185
2025
138/185
2025
Average annual personal income after taxes
$1,255
2026
$1,775
2026
Market capitalization of domestic companies n/a
$70.3B
2025
Income share by richest 10%
31%
2019
27.7%
2024
Income share by poorest 10%
2.9%
2019
3.4%
2024
Government expenditure, % of GDP
30.6%
2025
21.2%
2025
Consumer prices inflation
28.4%
2024-2025
3.55%
2024-2025
Central bank interest rate
24%
2026
11.5%
2026
Unemployment rate
15.4%
2024
6.96%
2025
Population
23086106
261421997

Spending and national debt comparison by year

Malawi
Spending

Debt
Pakistan
Spending

Debt
1x
Year % of GDP
Malawi Pakistan
Government spending Government debt Government spending Government debt
2025 30.6% 78.4% 21.2% 72.8%
2024 29.5% 87.6% 19.4% 70.2%
2023 25.5% 86.7% 19.3% 78.5%
2022 26.7% 75.7% 20% 77.3%
2021 23.7% 66.5% 18.5% 74.7%
2020 22.7% 53.9% 20.3% 80.8%
2019 19.3% 41.2% 19.1% 78.7%
2018 19.4% 40.8% 19.1% 66.3%
2017 21% 40% 19.1% 62.1%
2016 19.7% 37.1% 17.7% 62.1%
2015 19.5% 35.5% 17.8% 59.1%
2014 18.3% 33.5% 18.1% 58.8%
2013 20.7% 35.3% 19.5% 59.2%
2012 18.8% 28.6% 19.4% 58.4%
2011 17% 20% 17.9% 56.2%
2010 19.6% 19.3% 18.3% 56.7%
2009 20.2% 23.5% 17.3% 54.6%
2008 20.6% 23.5% 18% 49.5%
2007 20.7% 18.9% 16.1% 44.2%
2006 17.8% 17.9% 14.5% 46.2%
2005 17.4% 70.9% 13% 47.9%
2004 17.2% 74.7% 12.1% 50.6%
2003 15.4% 84.7% 12.9% 56.3%
2002 13.8% 101.5% 14.4% 60.5%
2001 - - 12.9% 65.1%
2000 - - 13.8% 61.7%
1999 - - 13.2% 60.7%
1998 - - 14.1% 53.8%
1997 - - 13.7% 52.8%
1996 - - 15% 52.5%
1995 - - 14% 52.3%
1994 - - 14.5% 58.5%
1993 - - 17% 57.9%
1992 - - 22.6% 53.3%
1991 - - 21.4% 55.8%
1990 - - 23.9% 48.3%
1989 - - 26.1% 46.6%
1988 - - 27.9% 45%
1987 - - 29.5% 44.4%
1986 - - 27.6% 43.1%
1985 - - 28.3% 37%
1984 - - 25.4% 33.4%
1983 - - 24.8% 33.6%
1982 - - 24.5% 33.8%
1981 - - 21.6% 29.7%
1980 - - 22% 33.3%
1979 - - 25.3% 36.8%
1978 - - 25.5% 36.1%
1977 - - 20.4% 36.4%
1976 - - 21% 35.8%
1975 - - 20.4% 32.1%
1974 - - 15.3% 38%
1973 - - 13.9% 43.4%
1972 - - 13.5% 88.7%
1971 - - 22.1% 33.2%
1970 - - 23.6% 31.6%
1969 - - 15.6% 29.1%
1968 - - 13.7% 27.5%
1967 - - 12.9% 25.9%
1966 - - 12.2% 25.1%
1965 - - 11.2% 22.7%
1964 - - 12.1% 21.3%
1963 - - 14.7% 19.2%
1962 - - 11.8% 16.6%
1961 - - 10.6% 19.6%
1960 - - 10% 19.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1993–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1993, retrieved 2026-07-08).

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

In 2025, Malawi's government spending was $4.56B, accounting for 30.6% of its GDP, while Pakistan spent $86.4B, or 21.2% of GDP.

Debt-to-GDP ratio is 78.4% in Malawi and 72.8% in Pakistan, ranking 47/185 and 53/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

Pakistan
1x
Year Deficit/surplus, % of GDP
Malawi Pakistan
2025 -11.5% -5.37%
2024 -11% -6.79%
2023 -7.84% -7.76%
2022 -9.32% -7.84%
2021 -8.34% -6.04%
2020 -8.03% -7.03%
2019 -4.55% -7.79%
2018 -4.35% -5.67%
2017 -5.15% -5.17%
2016 -4.9% -3.92%
2015 -4.17% -4.74%
2014 -3.08% -4.37%
2013 -3.73% -7.48%
2012 -1.45% -7.74%
2011 -2.85% -6.23%
2010 0.63% -5.42%
2009 -2.97% -4.53%
2008 -2.92% -5.94%
2007 -2.56% -4.23%
2006 -0.05% -2.79%
2005 -1.63% -2.29%
2004 -2.61% -1.29%
2003 -2.6% -0.12%
2002 -4.47% -2.64%
2001 - -2.45%
2000 - -3.21%
1999 - -3.07%
1998 - -4.46%
1997 - -3.87%
1996 - -4.33%
1995 - -3.9%
1994 - -3.63%
1993 - -5.53%
1992 - -11.3%
1991 - -10.8%
1990 - -11.9%
1989 - -7.01%
1988 - -9.35%
1987 - -11.7%
1986 - -9.79%
1985 - -10.6%
1984 - -8.9%
1983 - -7.55%
1982 - -8.24%
1981 - -5.83%
1980 - -5.32%
1979 - -11.6%
1978 - -12.4%
1977 - -8.74%
1976 - -9.05%
1975 - -8.97%
1974 - -4.45%
1973 - -3.99%
1972 - -3.16%
1971 - -7.45%
1970 - -10.8%
1969 - -7.08%
1968 - -5.56%
1967 - -4.27%
1966 - -4.48%
1965 - -3.28%
1964 - -4.89%
1963 - -6.55%
1962 - -3.39%
1961 - -4.6%
1960 - -3.83%
1959 - -3.71%
1958 - -4.2%
1957 - -2.21%
1956 - -2.36%
1955 - -2%
1954 - -3.18%
1953 - -2.66%
1952 - -0.73%
1951 - 0.63%
1950 - -1.24%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1992, retrieved 2026-07-08).

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

In 2025, Malawi's government deficit, the difference between spending and revenue, was $1.71B, equivalent to 11.5% of GDP. This compares to Pakistan's deficit of $21.9B, or 5.37% of GDP.

Over the past 24 years, Malawi recorded a fiscal deficit in 23 of those years, while Pakistan ran a deficit in 24 years. On average, Malawi posted an annual deficit equal to 4.56% of GDP, compared to deficit of 5.13% of GDP for Pakistan.

Inflation comparison by year

Inflation
Malawi

Pakistan
1x
Year Consumer prices inflation
Malawi Pakistan
2025 28.4% 3.55%
2024 32.2% 12.6%
2023 28.8% 30.8%
2022 20.8% 19.9%
2021 9.3% 9.5%
2020 8.6% 9.74%
2019 9.4% 10.6%
2018 9.2% 5.08%
2017 11.5% 4.09%
2016 21.7% 3.77%
2015 21.9% 2.53%
2014 23.8% 7.19%
2013 28.3% 7.69%
2012 21.3% 9.68%
2011 7.6% 11.9%
2010 7.4% 12.9%
2009 8.4% 13.6%
2008 8.7% 20.3%
2007 7.9% 7.6%
2006 13.9% 7.92%
2005 15.5% 9.06%
2004 11.4% 7.44%
2003 9.6% 2.91%
2002 14.7% 3.29%
2001 22.7% 3.15%
2000 29.6% 4.37%
1999 44.8% 4.14%
1998 29.8% 6.23%
1997 9.1% 11.4%

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

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

Over the past 29 years, Malawi has recorded an average annual inflation rate of 17.8%, compared with 9.07% in Pakistan. In 2025, inflation was 28.4% in Malawi and 3.55% in Pakistan.

Top exports between countries

Malawi
Export category Export value
Raw agricultural goods $6.31M
Processed food, beverages & tobacco $3.21M
Animal & marine products $10K
Textiles & consumer goods $7K
Metals $2K
Precious metals & jewellery $1K
Pakistan
Export category Export value
Textiles & consumer goods $1.74M
Chemicals & pharma $1.4M
Raw materials & minerals $144K
Machinery & equipment $128K
Wood & paper products $127K
Processed food, beverages & tobacco $57K
Raw agricultural goods $35K
Metals $9K
Miscellaneous $3K

Balance of trade

Malawi Pakistan
Current account balance
-$2.13B
2024
-$448M
2025
Current account balance ranking
143/190
2024
102/190
2025
Current account balance, % of GDP
-18.8%
2024
-0.11%
2025
Goods imports
$3.02B
2024
$62.6B
2025
Goods exports
$1.02B
2024
$31.5B
2025
Service imports
$895M
2024
$12B
2025
Service exports
$508M
2024
$9.09B
2025
Imports of goods and services, % of GDP
28.8%
2025
17.2%
2025
Exports of goods and services, % of GDP
10.6%
2025
9.99%
2025

Economic freedom indices

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

Malawi Pakistan
Economic freedom 50.7 48.9
Economic freedom ranking 159/197 168/197
Property rights 49.5 25.7
Government integrity 35 26.3
Judicial effectiveness 51.8 27.6
Tax burden 77 78.2
Government spending 77.8 88.5
Fiscal health 4.7 10.1
Business freedom 34.1 54.4
Labor freedom 55.2 51.7
Monetary freedom 55.1 54.1
Trade freedom 68.6 70.4
Investment freedom 50 60
Financial freedom 50 40

Economic freedom comparison by year

Malawi
Pakistan
1x
Year Economic freedom index
Malawi Pakistan
2026 50.7 48.9
2025 50.9 49.1
2024 52.1 49.5
2023 52.8 49.4
2022 53 48.8
2021 53 51.7
2020 52.8 54.8
2019 51.4 55
2018 52 54.4
2017 52.2 52.8
2016 51.8 55.9
2015 54.8 55.6
2014 55.4 55.2
2013 55.3 55.1
2012 56.4 54.7
2011 55.8 55.1
2010 54.1 55.2
2009 53.7 57
2008 52.7 55.6
2007 52.9 57.2
2006 55.4 57.9
2005 53.6 53.3
2004 53.6 54.9
2003 53.2 55
2002 56.9 55.8
2001 56.2 56
2000 57.4 56.4
1999 54 53
1998 54.1 53.2
1997 53.4 56
1996 56.2 58.4
1995 54.7 57.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 48.9 for Pakistan, ranking 168/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi Pakistan
Services, % of GDP
48.7%
2025
50.9%
2025
Industry, % of GDP
14.3%
2025
20.1%
2025
Agriculture, forestry, and fishing, % of GDP
30%
2025
23%
2025
GNI, Atlas method
$13.4B
2025
$382B
2025
GNI per capita, PPP
$1,880
2025
$6,430
2025
Total reserves including gold
$594M
2020
$26.5B
2025
Total reserves ranking
154/177
2020
62/177
2025
Net foreign direct investment
-$202M
2024
-$1.58B
2025
Net inflows of foreign direct investment
$258M
2024
$2.66B
2024
Net outflows of foreign direct investment
$56.4M
2024
$84M
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
4.5%
2024
Poverty at national poverty lines
50.7%
2019
21.9%
2018
Gross capital formation, % of GDP
15.7%
2025
14.3%
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/malawi/pakistan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1993, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.