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Economy of Malawi vs Romania compared: GDP & Debt

Updated on by Georank

Malawi has a GDP of $14.9B compared to $429B for Romania, ranking 148/197 and 39/197 by economy size, respectively.

Malawi has $11.7B in government debt (78.4% of GDP), compared to $260B (60.6% of GDP) in Romania.

Malawi vs Romania GDP by year

Malawi
Romania
1x
Year GDP, current $
Malawi Romania
2025 $14,918,276,698 $428,677,977,855
2024 $11,311,971,400 $382,564,217,989
2023 $13,363,669,673 $347,757,995,759
2022 $12,429,059,928 $295,317,862,856
2021 $12,378,119,199 $285,072,444,957
2020 $11,769,313,598 $250,624,575,872
2019 $11,051,852,713 $250,080,428,512
2018 $9,879,220,354 $241,791,427,224
2017 $8,943,543,794 $210,147,385,855
2016 $7,909,868,618 $185,290,759,249
2015 $9,219,474,379 $177,885,131,240
2014 $8,801,326,169 $199,722,319,676
2013 $8,031,571,928 $189,798,603,751
2012 $8,773,203,178 $179,117,323,107
2011 $11,648,142,958 $192,623,977,894
2010 $10,128,323,011 $170,064,350,672
2009 $9,009,887,947 $174,110,532,659
2008 $7,743,617,352 $214,315,932,061
2007 $6,451,210,219 $174,588,782,939
2006 $5,818,279,739 $122,023,735,993
2005 $5,320,409,651 $98,454,380,120
2004 $5,058,726,350 $74,973,656,852
2003 $4,669,789,300 $57,806,384,143
2002 $5,087,328,438 $46,065,502,703
2001 $2,498,008,665 $40,395,116,581
2000 $2,537,307,580 $37,253,739,511
1999 $2,584,478,924 $35,953,156,754
1998 $2,547,609,590 $41,696,091,974
1997 $3,875,785,863 $35,575,214,078
1996 $3,319,573,750 $36,937,074,278
1995 $2,033,701,498 $37,430,162,103
1994 $1,719,864,761 $30,072,805,104
1993 $3,013,392,658 $26,361,160,450
1992 $2,618,837,835 $25,121,666,667
1991 $3,206,783,830 $28,850,634,900
1990 $2,737,087,862 $38,247,882,300
1989 $2,314,205,130 $41,450,777,202
1988 $2,008,189,508 $40,424,528,302
1987 $1,721,711,808 $38,067,567,568
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 (1980–2025, retrieved 2026-07-08).

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

GDP per capita in Malawi vs Romania by year

Malawi
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $672 - $22,538 -
2024 $522 $1,858 $20,080 $49,077
2023 $633 $1,830 $18,244 $45,982
2022 $604 $1,778 $15,503 $41,979
2021 $617 $1,688 $14,908 $37,534
2020 $603 $1,513 $13,009 $34,194
2019 $581 $1,450 $12,910 $33,425
2018 $533 $1,364 $12,416 $29,383
2017 $496 $1,380 $10,728 $26,943
2016 $451 $1,410 $9,405 $23,905
2015 $540 $1,403 $8,977 $21,625
2014 $530 $1,506 $10,032 $20,633
2013 $497 $1,558 $9,498 $19,678
2012 $558 $1,464 $8,930 $19,808
2011 $763 $1,516 $9,561 $18,804
2010 $683 $1,458 $8,400 $17,355
2009 $626 $1,388 $8,548 $16,641
2008 $554 $1,311 $10,435 $16,782
2007 $475 $1,231 $8,360 $13,703
2006 $441 $1,124 $5,758 $11,554
2005 $414 $1,071 $4,618 $9,602
2004 $405 $1,033 $3,495 $8,989
2003 $383 $979 $2,679 $7,559
2002 $428 $931 $2,120 $7,162
2001 $215.5 $924 $1,825 $6,520
2000 $224.2 $974 $1,660 $5,850
1999 $233.9 $961 $1,600 $5,596
1998 $236 $941 $1,853 $5,545
1997 $367 $915 $1,577 $5,564
1996 $321 $884 $1,633 $5,746
1995 $200.4 $825 $1,650 $5,429
1994 $169.2 $692 $1,323 $4,995
1993 $293 $746 $1,158 $4,699
1992 $258.4 $674 $1,102 $4,515
1991 $326 $732 $1,254 $4,795
1990 $286.7 $672 $1,648 $5,280
1989 $252.2 - $1,790 -
1988 $229.4 - $1,753 -
1987 $207.6 - $1,659 -
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 (1980–2025, retrieved 2026-07-08).

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

Malawi's GDP per capita is $672, ranking 190/197, compared to $22,538 in Romania, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while Romania ranks 47th at $49,077.

Economic indicators

Malawi Romania
Gross domestic product
$14.9B
2025
$429B
2025
GDP rank
148/197
2025
39/197
2025
GDP growth
1.89%
2024-2025
0.68%
2024-2025
GDP per capita
$672
2025
$22,538
2025
GDP per capita rank
190/197
2025
57/197
2025
GDP per capita, PPP
$1,858
2024
$49,077
2024
GDP per capita PPP rank
189/197
2024
47/197
2024
Government debt
$11.7B
2025
$260B
2025
Debt-to-GDP ratio
78.4%
2025
60.6%
2025
Government debt per person
$526
2025
$13,650
2025
Government debt per person rank
166/185
2025
48/185
2025
Average annual personal income after taxes
$1,255
2026
$13,510
2026
Market capitalization of domestic companies n/a
$70.9B
2025
Number of billionaires n/a
6
2026
Income share by richest 10%
31%
2019
21.8%
2023
Income share by poorest 10%
2.9%
2019
2.4%
2023
Government expenditure, % of GDP
30.6%
2025
40.5%
2025
Consumer prices inflation
28.4%
2024-2025
7.3%
2024-2025
Central bank interest rate
24%
2026
6.5%
2024
Unemployment rate
15.4%
2024
6.1%
2025
Population
23086106
18912567

Spending and national debt comparison by year

Malawi
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Malawi Romania
Government spending Government debt Government spending Government debt
2025 30.6% 78.4% 40.5% 60.6%
2024 29.5% 87.6% 40% 57.5%
2023 25.5% 86.7% 37% 52.6%
2022 26.7% 75.7% 37.5% 51.9%
2021 23.7% 66.5% 37.2% 51.8%
2020 22.7% 53.9% 38.3% 49.5%
2019 19.3% 41.2% 33.4% 36.8%
2018 19.4% 40.8% 31.9% 36.4%
2017 21% 40% 31% 37.1%
2016 19.7% 37.1% 31.8% 39.5%
2015 19.5% 35.5% 34.2% 39.4%
2014 18.3% 33.5% 33.8% 40.5%
2013 20.7% 35.3% 34.2% 39.3%
2012 18.8% 28.6% 33.5% 36.2%
2011 17% 20% 35% 32.6%
2010 19.6% 19.3% 37.4% 30.2%
2009 20.2% 23.5% 36.3% 22.5%
2008 20.6% 23.5% 35.3% 13%
2007 20.7% 18.9% 34.6% 12.4%
2006 17.8% 17.9% 33.9% 12.7%
2005 17.4% 70.9% 32.3% 17.8%
2004 17.2% 74.7% 33.7% 21.3%
2003 15.4% 84.7% 31.8% 24.9%
2002 13.8% 101.5% 32.1% 27.4%
2001 - - 33.2% 27.4%
2000 - - 35% 29.6%
1999 - - 35.1% 21.7%
1998 - - 34.7% 16.5%
1997 - - 33.5% 15%
1996 - - 33.5% 11%
1995 - - 34.4% 6.91%
1994 - - 33.1% -
1993 - - 33.5% -
1992 - - 41.5% -
1991 - - 38.3% -
1990 - - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

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

In 2025, Malawi's government spending was $4.56B, accounting for 30.6% of its GDP, while Romania spent $173B, or 40.5% of GDP.

Debt-to-GDP ratio is 78.4% in Malawi and 60.6% in Romania, ranking 47/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

Romania
1x
Year Deficit/surplus, % of GDP
Malawi Romania
2025 -11.5% -7.64%
2024 -11% -8.68%
2023 -7.84% -5.66%
2022 -9.32% -5.85%
2021 -8.34% -6.74%
2020 -8.03% -9.6%
2019 -4.55% -4.58%
2018 -4.35% -2.76%
2017 -5.15% -2.86%
2016 -4.9% -2.5%
2015 -4.17% -1.35%
2014 -3.08% -1.76%
2013 -3.73% -2.44%
2012 -1.45% -2.39%
2011 -2.85% -4.14%
2010 0.63% -6.22%
2009 -2.97% -6.86%
2008 -2.92% -4.6%
2007 -2.56% -3.05%
2006 -0.05% -1.36%
2005 -1.63% -0.69%
2004 -2.61% -3.39%
2003 -2.6% -2.29%
2002 -4.47% -2.59%
2001 - -3.2%
2000 - -3.99%
1999 - -3.58%
1998 - -5.33%
1997 - -5.19%
1996 - -4.74%
1995 - -3.32%
1994 - -2.2%
1993 - -0.35%
1992 - -4.55%
1991 - 3.23%
1990 - 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

GeoRank.org/economy/malawi/romania | 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 Romania's deficit of $32.8B, or 7.64% of GDP.

Over the past 24 years, Malawi recorded a fiscal deficit in 23 of those years, while Romania ran a deficit in 24 years. On average, Malawi posted an annual deficit equal to 4.56% of GDP, compared to deficit of 4.17% of GDP for Romania.

Inflation comparison by year

Inflation
Malawi

Romania
1x
Year Consumer prices inflation
Malawi Romania
2025 28.4% 7.3%
2024 32.2% 5.6%
2023 28.8% 10.4%
2022 20.8% 13.8%
2021 9.3% 5%
2020 8.6% 2.6%
2019 9.4% 3.8%
2018 9.2% 4.6%
2017 11.5% 1.3%
2016 21.7% -1.6%
2015 21.9% -0.6%
2014 23.8% 1.1%
2013 28.3% 4%
2012 21.3% 3.3%
2011 7.6% 5.8%
2010 7.4% 6.1%
2009 8.4% 5.6%
2008 8.7% 7.8%
2007 7.9% 4.8%
2006 13.9% 6.6%
2005 15.5% 9%
2004 11.4% 11.9%
2003 9.6% 15.4%
2002 14.7% 22.5%
2001 22.7% 34.5%
2000 29.6% 45.7%
1999 44.8% 45.8%
1998 29.8% 59.1%
1997 9.1% 154.8%

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

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

Over the past 29 years, Malawi has recorded an average annual inflation rate of 17.8%, compared with 17.1% in Romania. In 2025, inflation was 28.4% in Malawi and 7.3% in Romania.

Top exports between countries

Malawi
Export category Export value
Processed food, beverages & tobacco $13.6M
Romania
Export category Export value
Textiles & consumer goods $170K
Metals $49K
Chemicals & pharma $38K
Miscellaneous $13K
Wood & paper products $13K
Raw materials & minerals $7K
Machinery & equipment $5K

Balance of trade

Malawi Romania
Current account balance
-$2.13B
2024
-$33.9B
2025
Current account balance ranking
143/190
2024
186/190
2025
Current account balance, % of GDP
-18.8%
2024
-7.9%
2025
Goods imports
$3.02B
2024
$139B
2025
Goods exports
$1.02B
2024
$102B
2025
Service imports
$895M
2024
$35.9B
2025
Service exports
$508M
2024
$50.1B
2025
Imports of goods and services, % of GDP
28.8%
2025
40.7%
2025
Exports of goods and services, % of GDP
10.6%
2025
35.5%
2025

Economic freedom indices

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

Malawi Romania
Economic freedom 50.7 65.4
Economic freedom ranking 159/197 64/197
Property rights 49.5 81
Government integrity 35 50
Judicial effectiveness 51.8 67
Tax burden 77 89.1
Government spending 77.8 56.7
Fiscal health 4.7 21.4
Business freedom 34.1 74.4
Labor freedom 55.2 63.6
Monetary freedom 55.1 72.7
Trade freedom 68.6 79.4
Investment freedom 50 70
Financial freedom 50 60

Economic freedom comparison by year

Malawi
Romania
1x
Year Economic freedom index
Malawi Romania
2026 50.7 65.4
2025 50.9 66.5
2024 52.1 64.4
2023 52.8 64.5
2022 53 67.1
2021 53 69.5
2020 52.8 69.7
2019 51.4 68.6
2018 52 69.4
2017 52.2 69.7
2016 51.8 65.6
2015 54.8 66.6
2014 55.4 65.5
2013 55.3 65.1
2012 56.4 64.4
2011 55.8 64.7
2010 54.1 64.2
2009 53.7 63.2
2008 52.7 61.7
2007 52.9 61.2
2006 55.4 58.2
2005 53.6 52.1
2004 53.6 50
2003 53.2 50.6
2002 56.9 48.7
2001 56.2 50
2000 57.4 52.1
1999 54 50.1
1998 54.1 54.4
1997 53.4 50.8
1996 56.2 46.2
1995 54.7 42.9

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

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

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi Romania
Services, % of GDP
48.7%
2025
61.7%
2025
Industry, % of GDP
14.3%
2025
25.3%
2025
Agriculture, forestry, and fishing, % of GDP
30%
2025
3%
2025
GNI, Atlas method
$13.4B
2025
$384B
2025
GNI per capita, PPP
$1,880
2025
$49,550
2025
Total reserves including gold
$594M
2020
$90.6B
2025
Total reserves ranking
154/177
2020
31/177
2025
Net foreign direct investment
-$202M
2024
-$8.57B
2025
Net inflows of foreign direct investment
$258M
2024
$7.16B
2024
Net outflows of foreign direct investment
$56.4M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
n/a
Poverty at national poverty lines
50.7%
2019
19%
2023
Gross capital formation, % of GDP
15.7%
2025
25.9%
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/romania | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2025, 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 (1962–1999, 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.