Malawi vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Malawi ranked 150th with $7.1B. By GDP 5-years average growth and GDP per capita, South Korea and Malawi ranked 93rd vs 63rd and 33rd vs 195th, respectively.

Gross Domestic Product & Income

StatMalawiSouth Korea
GDP$7.1B$1.6T
GDP growth, 1 year3.2%2.7%
GDP growth, 5-years average3.6%3%
Population18.6M51.5M
GDP per capita$389$31k
GDP per capita growth0.8%2.33%
Purchasing Power Parity conversion factor217.52860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.30.78
GDP per capita, PPP adjusted$1.2k$41k
GNI, Atlas method$6.5B$1.6T
GNI per capita$360$31k
GNI, PPP adjusted$23.7B$2.1T
GNI per capita, PPP adjusted$1.3k$40k

Financial system and Human development

StatMalawiSouth Korea
Income Tax Rate30%42%
Corporate Tax Rate30%25%
Inflation, consumer prices9.2%1.5%
Inflation, GDP deflator8.6%0.3%
Unemployment5.4%3.8%
Economic Freedom Index52.874
Personal Freedom Index7.188.84
Human Freedom Index6.688.15
Property Rights Index43.182.5
Judical Effectiveness Index42.161
Business Freedom Index41.990.5
Fiscal Health Index23.696.7
Labor Freedom Index62.856.2
Investment Freedom Index5070
Financial Freedom Index5070
Trade Freedom Index75.480
Monetary Freedom Index69.182.1
Government Spending Index71.767.7
Tax Burden Index7963.9
Government Integrity Index24.867.5
Corruption Perceptions Index3257
Life expectancy at birth, years63.382.6
Suicide mortality rate, per 100,000 people3.726.9
Mortality caused by road traffic injury, per 100,000 people319.8
Intentional homicides, per 100,000 people1.70.6
International tourism, number of arrivals871k15.3M

Government debt & reserves

StatMalawiSouth Korea
Central government debt, % of GDP61.3%40.7%
External debt stocks, % of GNI32.2%N/A
External debt stocks$2.3BN/A
Short-term debt, % of total reserves3%N/A
Total debt service, % of exports and primary income5.7%N/A
Adjusted net savings including particulate emission damage, % of GNI-16.7%20.1%
Gross savings, % of GDP13.2%34.7%
Gross capital formation, % of GDP13.4%30.2%
Total reserves including gold$759.6M$403.1B
Foreign direct investment net inflows$102M$14.5B

Exports, imports and economic structure

StatMalawiSouth Korea
Exports of goods and services, % of GDP29.2%44%
Imports of goods and services, % of GDP36.2%39%
Current account balance (balance of payments)-$1.4B$76.4B
Revenue excluding grants, % of GDP18.1%27.8%
Grants excluding technical cooperation, BoP$973.7M$6.7M
Personal remittances received$181.6M$7.1B
Industry including construction value added, % of GDP14.4%35.1%
Agriculture, forestry and fishing value added, % of GDP26.1%2%
Charges for the use of intellectual property, payments BoP$3.2M$9.9B
Charges for the use of intellectual property, receipts BoPN/A$7.8B
Expense, % of GDP20.9%25.4%
Government Expenditure, % of GDP30.7%32.8%

Compare with countries close by GDP per capita

Malawi vs

CountryGDP
per capita
Population
Mauritania
$1.2k
4.42M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
28.3M
Benin
$902
11.2M
Mali
$900
18.5M
Guinea
$879
12.7M
Haiti
$868
11M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Guinea-Bissau
$778
1.86M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
15.5M
Gambia
$716
2.1M
Burkina Faso
$715
19.2M
Togo
$679
7.8M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
25.6M
Afghanistan
$521
34.9M
Mozambique
$499
29.7M
Central African Republic
$476
4.66M
Niger
$414
21.5M
Somalia
$315
11M
Burundi
$272
10.9M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k