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Economy of Malawi vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Malawi has a GDP of $11.3B compared to $1.16B for Saint Vincent, ranking 151/197 and 186/197 by economy size, respectively.

Malawi has $9.91B in government debt (87.6% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Malawi vs Saint Vincent GDP by year

Malawi
Saint Vincent
1x
Year GDP, current $
Malawi Saint Vincent
2024 $11,316,411,329 $1,157,207,407
2023 $13,363,669,673 $1,072,237,037
2022 $12,429,059,928 $989,188,889
2021 $12,378,119,199 $888,677,778
2020 $11,769,313,598 $864,566,667
2019 $11,051,852,713 $910,481,481
2018 $9,879,220,354 $884,329,630
2017 $8,943,543,794 $844,040,741
2016 $7,909,868,618 $814,303,704
2015 $9,219,474,379 $786,555,556
2014 $8,801,326,169 $770,900,000
2013 $8,031,571,928 $764,781,259
2012 $8,773,203,178 $730,032,593
2011 $11,648,142,958 $713,796,370
2010 $10,128,323,011 $720,447,889
2009 $9,009,887,947 $714,300,259
2008 $7,743,617,352 $732,663,259
2007 $6,451,210,219 $713,596,667
2006 $5,818,279,739 $643,501,148
2005 $5,320,409,651 $579,948,926
2004 $5,058,726,350 $549,900,185
2003 $4,669,789,300 $509,090,889
2002 $5,087,328,438 $487,763,852
2001 $2,498,008,665 $462,072,333
2000 $2,537,307,580 $427,946,037
1999 $2,584,478,924 $390,718,519
1998 $2,547,609,590 $373,618,519
1997 $3,875,785,863 $347,770,370
1996 $3,319,573,750 $331,488,889
1995 $2,033,701,498 $316,007,407
1994 $1,719,864,761 $289,437,037
1993 $3,013,392,658 $286,307,407
1992 $2,618,837,835 $277,955,556
1991 $3,206,783,830 $254,829,630
1990 $2,737,087,862 $240,366,667
1989 $2,314,205,130 $214,745,002
1988 $2,008,189,508 $200,726,713
1987 $1,721,711,808 $175,580,647
1986 $1,722,586,299 $160,846,657
1985 $1,646,442,273 $145,641,705
1984 $1,758,028,656 $135,024,988
1983 $1,780,148,049 $122,255,350
1982 $1,717,379,495 $113,759,203
1981 $1,801,193,910 $102,086,539
1980 $1,801,156,775 $82,340,340
1979 - $71,096,360
1978 - $60,844,771
1977 - $49,353,162
1976 - $32,792,845
1975 - $33,237,226
1974 - $32,923,703
1973 - $30,165,081
1972 - $27,585,805
1971 - $20,051,922
1970 - $18,450,000
1969 - $16,650,000
1968 - $15,350,000
1967 - $15,835,106
1966 - $16,099,960
1965 - $15,108,296
1964 - $14,758,296
1963 - $13,708,299
1962 - $14,524,964
1961 - $13,999,965
1960 - $13,066,634

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malawi/saint-vincent | CC BY

GDP per capita in Malawi vs Saint Vincent by year

Malawi
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $523 $1,858 $11,501 $21,272
2023 $633 $1,830 $10,582 $19,820
2022 $604 $1,778 $9,694 $18,035
2021 $617 $1,688 $8,641 $16,201
2020 $603 $1,513 $8,351 $15,337
2019 $581 $1,450 $8,741 $15,340
2018 $533 $1,364 $8,428 $14,690
2017 $496 $1,380 $7,988 $13,575
2016 $451 $1,410 $7,657 $13,493
2015 $540 $1,403 $7,354 $12,379
2014 $530 $1,506 $7,169 $12,136
2013 $497 $1,558 $7,072 $11,625
2012 $558 $1,464 $6,714 $10,989
2011 $763 $1,516 $6,528 $10,774
2010 $683 $1,458 $6,552 $10,561
2009 $626 $1,388 $6,464 $10,869
2008 $554 $1,311 $6,599 $10,902
2007 $475 $1,231 $6,398 $10,604
2006 $441 $1,124 $5,745 $9,949
2005 $414 $1,071 $5,157 $8,986
2004 $405 $1,033 $4,873 $8,472
2003 $383 $979 $4,500 $7,903
2002 $428 $931 $4,303 $7,250
2001 $215.5 $924 $4,071 $6,768
2000 $224.2 $974 $3,769 $6,503
1999 $233.9 $961 $3,447 $6,266
1998 $236 $941 $3,301 $6,026
1997 $367 $915 $3,074 $5,726
1996 $321 $884 $2,930 $5,440
1995 $200.4 $825 $2,795 $5,277
1994 $169.2 $692 $2,563 $4,802
1993 $293 $746 $2,540 $4,769
1992 $258.4 $674 $2,471 $4,477
1991 $326 $732 $2,271 $4,126
1990 $286.7 $672 $2,150 $3,960
1989 $252.2 - $1,930 -
1988 $229.4 - $1,814 -
1987 $207.6 - $1,596 -
1986 $217.9 - $1,472 -
1985 $216.1 - $1,342 -
1984 $239.7 - $1,254 -
1983 $252.4 - $1,144 -
1982 $253.3 - $1,074 -
1981 $276.4 - $972 -
1980 $287.5 - $790 -
1979 - - $687 -
1978 - - $592 -
1977 - - $484 -
1976 - - $324 -
1975 - - $331 -
1974 - - $331 -
1973 - - $306 -
1972 - - $282.1 -
1971 - - $207 -
1970 - - $192.3 -
1969 - - $175.2 -
1968 - - $163.1 -
1967 - - $170 -
1966 - - $174.9 -
1965 - - $166.2 -
1964 - - $164.4 -
1963 - - $154.9 -
1962 - - $166.5 -
1961 - - $163 -
1960 - - $154.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/malawi/saint-vincent | CC BY

Malawi's GDP per capita is $523, ranking 194/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Malawi Saint Vincent
Gross domestic product
$11.3B
2024
$1.16B
2024
GDP rank
151/197
2024
186/197
2024
GDP growth
1.67%
2023-2024
4.06%
2023-2024
GDP per capita
$523
2024
$11,501
2024
GDP per capita rank
194/197
2024
81/197
2024
GDP per capita, PPP
$1,858
2024
$21,272
2024
GDP per capita PPP rank
189/197
2024
92/197
2024
Government debt
$9.91B
2024
$1.07B
2024
Debt-to-GDP ratio
87.6%
2024
92.7%
2024
Government debt per person
$458
2024
$10,659
2024
Government debt per person rank
168/185
2024
56/185
2024
Average annual personal income after taxes
$3,031
2026
$12,573
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
39.1%
2024
Consumer prices inflation
32.2%
2023-2024
3.63%
2023-2024
Central bank interest rate
26%
2024
n/a
Unemployment rate
15.4%
2024
18.8%
2008
Population
22949294
99237

Spending and national debt comparison by year

Malawi
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Malawi Saint Vincent
Government spending Government debt Government spending Government debt
2024 29.5% 87.6% 39.1% 92.7%
2023 25.5% 86.7% 38.9% 89.4%
2022 26.7% 75.7% 36.6% 86.3%
2021 23.7% 66.5% 37.2% 88.4%
2020 22.7% 53.9% 32.9% 80.2%
2019 19.3% 41.2% 29.2% 68.2%
2018 19.4% 40.8% 26.3% 69.4%
2017 21% 40% 26.6% 69%
2016 19.7% 37.1% 27.1% 79.4%
2015 19.5% 35.5% 27.6% 75.1%
2014 18.3% 33.5% 30.4% 75%
2013 20.7% 35.3% 29.4% 69.9%
2012 18.8% 28.6% 26.5% 68.1%
2011 17% 20% 29.4% 64%
2010 19.6% 19.3% 31.1% 61.1%
2009 20.2% 23.5% 31% 57.2%
2008 20.6% 23.5% 28.4% 50.3%
2007 20.7% 18.9% 27.1% 48.5%
2006 17.8% 17.9% 26.1% 44.7%
2005 17.4% 70.9% 26.7% 50.5%
2004 17.2% 74.7% 24.9% 58.6%
2003 15.4% 84.7% 26% 55.3%
2002 13.8% 101.5% 25.7% 53.2%
2001 - - 24.4% 52%
2000 - - 23.8% 54.3%
1999 - - 25.2% 52.9%
1998 - - 25.2% 39.5%
1997 - - 26% 38.8%
1996 - - 20.9% 40.7%
1995 - - 19.9% 46.8%
1994 - - 22.4% 52.8%
1993 - - 22.3% 48.1%
1992 - - 25.4% 49.6%
1991 - - 25.5% 52.1%
1990 - - 23.1% 53.9%
1989 - - 27.6% -
1988 - - 24.8% -
1987 - - 23.7% -
1986 - - 22.3% -
1985 - - 21.4% -
1984 - - 23.1% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20).

GeoRank.org/economy/malawi/saint-vincent | CC BY

In 2024, Malawi's government spending was $3.34B, accounting for 29.5% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 87.6% in Malawi and 92.7% in Saint Vincent, ranking 35/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Malawi Saint Vincent
2024 -11% -12.9%
2023 -7.84% -12%
2022 -9.32% -9.35%
2021 -8.34% -7.19%
2020 -8.03% -5.92%
2019 -4.55% -3.45%
2018 -4.35% -1.65%
2017 -5.15% -1.56%
2016 -4.9% 0.04%
2015 -4.17% -2.01%
2014 -3.08% -2.82%
2013 -3.73% -5.81%
2012 -1.45% -1.81%
2011 -2.85% -3.5%
2010 0.63% -3.7%
2009 -2.97% -2.85%
2008 -2.92% -1.3%
2007 -2.56% -3.07%
2006 -0.05% -3.13%
2005 -1.63% -4.3%
2004 -2.61% -2.71%
2003 -2.6% -2.51%
2002 -4.47% -2%
2001 - -1.6%
2000 - -0.82%
1999 - -1.93%
1998 - -1.81%
1997 - -2.77%
1996 - 1.57%
1995 - 1.08%
1994 - 0.12%
1993 - -1.46%
1992 - -3.25%
1991 - -0.47%
1990 - 1.69%
1989 - -1.92%
1988 - 0.59%
1987 - 1.1%
1986 - 2.32%
1985 - 4.23%
1984 - 2.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20).

GeoRank.org/economy/malawi/saint-vincent | 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 Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 23 years, Malawi recorded a fiscal deficit in 22 of those years, while Saint Vincent ran a deficit in 22 years. On average, Malawi posted an annual deficit equal to 4.26% of GDP, compared to deficit of 4.15% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Malawi

Saint Vincent
1x
Year Consumer prices inflation
Malawi Saint Vincent
2024 32.2% 3.63%
2023 28.8% 4.56%
2022 20.8% 5.66%
2021 9.3% 1.57%
2020 8.6% -0.63%
2019 9.4% 0.91%
2018 9.2% 2.32%
2017 11.5% 2.15%
2016 21.7% -0.15%
2015 21.9% -1.73%
2014 23.8% 0.19%
2013 28.3% 0.81%
2012 21.3% 2.6%
2011 7.6% 3.19%
2010 7.4% 0.75%
2009 8.4% 0.42%
2008 8.7% 10.1%
2007 7.9% 7.24%
2006 13.9% 2.74%
2005 15.5% 3.73%
2004 11.4% 2.96%
2003 9.6% 0.21%
2002 14.7% 1.86%
2001 22.7% 0.9%
2000 29.6% 0.17%
1999 44.8% 1.01%
1998 29.8% 2.14%
1997 9.1% 0.44%

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/saint-vincent | CC BY

Over the past 28 years, Malawi has recorded an average annual inflation rate of 17.4%, compared with 2.13% in Saint Vincent. In 2024, inflation was 32.2% in Malawi and 3.63% in Saint Vincent.

Balance of trade

Malawi Saint Vincent
Current account balance
-$2.13B
2024
-$157M
2024
Current account balance ranking
145/190
2024
93/190
2024
Current account balance, % of GDP
-18.8%
2024
-13.5%
2024
Goods imports
$3.02B
2024
$445M
2024
Goods exports
$1.02B
2024
$59.2M
2024
Service imports
$895M
2024
$196M
2024
Service exports
$508M
2024
$366M
2024
Imports of goods and services, % of GDP
31.2%
2023
n/a
Exports of goods and services, % of GDP
11.2%
2023
15.3%
2025

Economic freedom indices

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

Malawi Saint Vincent
Economic freedom 50.7 60
Economic freedom ranking 159/197 98/197
Property rights 49.5 65.2
Government integrity 35 63.3
Judicial effectiveness 51.8 76.9
Tax burden 77 82
Government spending 77.8 56.2
Fiscal health 4.7 2.8
Business freedom 34.1 67.3
Labor freedom 55.2 60.1
Monetary freedom 55.1 77.3
Trade freedom 68.6 58.8
Investment freedom 50 70
Financial freedom 50 40

Economic freedom comparison by year

Malawi
Saint Vincent
1x
Year Economic freedom index
Malawi Saint Vincent
2026 50.7 60
2025 50.9 60.1
2024 52.1 59.8
2023 52.8 63.5
2022 53 65.7
2021 53 66.3
2020 52.8 66.8
2019 51.4 65.8
2018 52 67.7
2017 52.2 65.2
2016 51.8 68.8
2015 54.8 68
2014 55.4 67
2013 55.3 66.7
2012 56.4 66.5
2011 55.8 66.9
2010 54.1 66.9
2009 53.7 64.3
2008 52.7 -
2007 52.9 -
2006 55.4 -
2005 53.6 -
2004 53.6 -
2003 53.2 -
2002 56.9 -
2001 56.2 -
2000 57.4 -
1999 54 -
1998 54.1 -
1997 53.4 -
1996 56.2 -
1995 54.7 -

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

GeoRank.org/economy/malawi/saint-vincent | CC BY

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 60 for Saint Vincent, ranking 98/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi Saint Vincent
Services, % of GDP
44.2%
2024
66.4%
2024
Industry, % of GDP
17.1%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
31.8%
2024
3.55%
2024
GNI, Atlas method
$12.3B
2024
$1.11B
2024
GNI per capita, PPP
$1,830
2024
$21,150
2024
Total reserves including gold
$594M
2020
$317M
2024
Total reserves ranking
154/177
2020
167/177
2024
Net foreign direct investment
-$202M
2024
-$74M
2024
Net inflows of foreign direct investment
$681M
2024
$139M
2024
Net outflows of foreign direct investment
$56.4M
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
3.84%
2024
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/saint-vincent | CC BY

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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. International Monetary Fund (IMF) | Public Finances in Modern History (1984–1989, retrieved 2026-02-20)
  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.