Skip to content

Economy of Malawi vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Malawi has a GDP of $11.3B compared to $99B for Sri Lanka, ranking 151/197 and 72/197 by economy size, respectively.

Malawi has $9.91B in government debt (87.6% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Malawi vs Sri Lanka GDP by year

Malawi
Sri Lanka
1x
Year GDP, current $
Malawi Sri Lanka
2024 $11,316,411,329 $98,963,185,510
2023 $13,363,669,673 $83,716,142,582
2022 $12,429,059,928 $74,143,020,263
2021 $12,378,119,199 $88,556,698,938
2020 $11,769,313,598 $84,335,574,582
2019 $11,051,852,713 $88,998,706,297
2018 $9,879,220,354 $94,450,015,983
2017 $8,943,543,794 $94,369,350,286
2016 $7,909,868,618 $88,000,211,172
2015 $9,219,474,379 $85,090,301,052
2014 $8,801,326,169 $82,531,125,191
2013 $8,031,571,928 $76,976,203,829
2012 $8,773,203,178 $70,447,217,164
2011 $11,648,142,958 $67,753,285,897
2010 $10,128,323,011 $58,636,049,434
2009 $9,009,887,947 $42,066,224,093
2008 $7,743,617,352 $40,713,826,215
2007 $6,451,210,219 $32,350,238,760
2006 $5,818,279,739 $28,267,410,543
2005 $5,320,409,651 $24,405,791,045
2004 $5,058,726,350 $20,662,525,941
2003 $4,669,789,300 $18,881,765,437
2002 $5,087,328,438 $16,536,535,647
2001 $2,498,008,665 $15,749,753,805
2000 $2,537,307,580 $16,595,882,819
1999 $2,584,478,924 $15,711,933,513
1998 $2,547,609,590 $15,760,736,956
1997 $3,875,785,863 $15,091,913,884
1996 $3,319,573,750 $13,897,738,375
1995 $2,033,701,498 $13,029,697,561
1994 $1,719,864,761 $11,717,604,209
1993 $3,013,392,658 $10,338,679,636
1992 $2,618,837,835 $9,703,011,636
1991 $3,206,783,830 $9,000,362,582
1990 $2,737,087,862 $8,032,551,173
1989 $2,314,205,130 $6,987,267,684
1988 $2,008,189,508 $6,978,371,581
1987 $1,721,711,808 $6,682,167,120
1986 $1,722,586,299 $6,405,210,564
1985 $1,646,442,273 $5,978,460,972
1984 $1,758,028,656 $6,043,474,843
1983 $1,780,148,049 $5,167,913,302
1982 $1,717,379,495 $4,768,765,017
1981 $1,801,193,910 $4,415,844,156
1980 $1,801,156,775 $4,024,621,900
1979 - $3,364,611,432
1978 - $2,733,183,857
1977 - $4,104,509,583
1976 - $3,591,319,857
1975 - $3,791,298,146
1974 - $3,574,586,466
1973 - $2,875,625,000
1972 - $2,553,936,348
1971 - $2,369,308,600
1970 - $2,296,470,588
1969 - $1,965,546,218
1968 - $1,801,344,538
1967 - $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

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

GeoRank.org/economy/malawi/sri-lanka | CC BY

GDP per capita in Malawi vs Sri Lanka by year

Malawi
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $523 $1,858 $4,516 $15,633
2023 $633 $1,830 $3,799 $14,456
2022 $604 $1,778 $3,343 $14,194
2021 $617 $1,688 $3,997 $14,316
2020 $603 $1,513 $3,848 $12,941
2019 $581 $1,450 $4,082 $14,113
2018 $533 $1,364 $4,359 $14,178
2017 $496 $1,380 $4,399 $13,610
2016 $451 $1,410 $4,149 $13,079
2015 $540 $1,403 $4,058 $12,227
2014 $530 $1,506 $3,972 $11,721
2013 $497 $1,558 $3,739 $11,253
2012 $558 $1,464 $3,328 $10,249
2011 $763 $1,516 $3,225 $9,076
2010 $683 $1,458 $2,808 $8,234
2009 $626 $1,388 $2,027 $7,576
2008 $554 $1,311 $1,974 $7,317
2007 $475 $1,231 $1,579 $6,820
2006 $441 $1,124 $1,389 $6,261
2005 $414 $1,071 $1,207 $5,679
2004 $405 $1,033 $1,029 $5,216
2003 $383 $979 $946 $4,850
2002 $428 $931 $835 $4,522
2001 $215.5 $924 $804 $4,328
2000 $224.2 $974 $860 $4,368
1999 $233.9 $961 $829 $4,103
1998 $236 $941 $848 $3,952
1997 $367 $915 $827 $3,804
1996 $321 $884 $776 $3,582
1995 $200.4 $825 $742 $3,454
1994 $169.2 $692 $678 $3,260
1993 $293 $746 $607 $3,067
1992 $258.4 $674 $580 $2,851
1991 $326 $732 $546 $2,713
1990 $286.7 $672 $491 $2,527
1989 $252.2 - $430 -
1988 $229.4 - $434 -
1987 $207.6 - $420 -
1986 $217.9 - $407 -
1985 $216.1 - $385 -
1984 $239.7 - $391 -
1983 $252.4 - $336 -
1982 $253.3 - $312 -
1981 $276.4 - $292.5 -
1980 $287.5 - $271.1 -
1979 - - $230.8 -
1978 - - $191 -
1977 - - $292.1 -
1976 - - $260.3 -
1975 - - $279.8 -
1974 - - $268.7 -
1973 - - $220.2 -
1972 - - $199.4 -
1971 - - $188.8 -
1970 - - $186.9 -
1969 - - $163.6 -
1968 - - $153.5 -
1967 - - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

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

GeoRank.org/economy/malawi/sri-lanka | CC BY

Malawi's GDP per capita is $523, ranking 194/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Malawi Sri Lanka
Gross domestic product
$11.3B
2024
$99B
2024
GDP rank
151/197
2024
72/197
2024
GDP growth
1.67%
2023-2024
5.01%
2023-2024
GDP per capita
$523
2024
$4,516
2024
GDP per capita rank
194/197
2024
124/197
2024
GDP per capita, PPP
$1,858
2024
$15,633
2024
GDP per capita PPP rank
189/197
2024
111/197
2024
Government debt
$9.91B
2024
$99.8B
2024
Debt-to-GDP ratio
87.6%
2024
100.8%
2024
Government debt per person
$458
2024
$4,554
2024
Government debt per person rank
168/185
2024
85/185
2024
Average annual personal income after taxes
$3,031
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10%
31%
2019
30.8%
2019
Income share by poorest 10%
2.9%
2019
3.1%
2019
Government expenditure, % of GDP
29.5%
2024
19.3%
2024
Consumer prices inflation
32.2%
2023-2024
-0.43%
2023-2024
Central bank interest rate
26%
2024
7.75%
2025
Unemployment rate
15.4%
2024
4.67%
2023
Population
22949294
22185425

Spending and national debt comparison by year

Malawi
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Malawi Sri Lanka
Government spending Government debt Government spending Government debt
2024 29.5% 87.6% 19.3% 100.8%
2023 25.5% 86.7% 19.5% 110.4%
2022 26.7% 75.7% 18.6% 115.9%
2021 23.7% 66.5% 20% 102.7%
2020 22.7% 53.9% 22.1% 96.9%
2019 19.3% 41.2% 19.5% 82.6%
2018 19.4% 40.8% 17.5% 83.6%
2017 21% 40% 17.9% 72.3%
2016 19.7% 37.1% 18.2% 75%
2015 19.5% 35.5% 19.3% 76.3%
2014 18.3% 33.5% 17.2% 69.6%
2013 20.7% 35.3% 16.6% 69.5%
2012 18.8% 28.6% 17.3% 67.5%
2011 17% 20% 19.1% 69.4%
2010 19.6% 19.3% 19.3% 68.7%
2009 20.2% 23.5% 21% 72.8%
2008 20.6% 23.5% 19.1% 68.8%
2007 20.7% 18.9% 19.9% 71.8%
2006 17.8% 17.9% 20.5% 74.3%
2005 17.4% 70.9% 20.1% 76.6%
2004 17.2% 74.7% 19.3% 86.5%
2003 15.4% 84.7% 19.3% 86.5%
2002 13.8% 101.5% 20.8% 96.3%
2001 - - 22.4% 84.4%
2000 - - 21.7% 79.2%
1999 - - 20.5% 77.7%
1998 - - 21.4% 74.2%
1997 - - 21.4% 70.1%
1996 - - 23.1% 76.2%
1995 - - 24.8% 77.8%
1994 - - 24.1% 77.9%
1993 - - 23.2% 79.2%
1992 - - 23% 77.9%
1991 - - 26.4% 80.5%
1990 - - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malawi/sri-lanka | CC BY

In 2024, Malawi's government spending was $3.34B, accounting for 29.5% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 87.6% in Malawi and 100.8% in Sri Lanka, ranking 35/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Malawi Sri Lanka
2024 -11% -5.64%
2023 -7.84% -8.32%
2022 -9.32% -10.2%
2021 -8.34% -11.7%
2020 -8.03% -13.4%
2019 -4.55% -7.52%
2018 -4.35% -4.96%
2017 -5.15% -5.1%
2016 -4.9% -5%
2015 -4.17% -6.64%
2014 -3.08% -5.99%
2013 -3.73% -5%
2012 -1.45% -5.44%
2011 -2.85% -6.01%
2010 0.63% -6.73%
2009 -2.97% -8.33%
2008 -2.92% -5.93%
2007 -2.56% -5.81%
2006 -0.05% -5.91%
2005 -1.63% -5.93%
2004 -2.61% -6.32%
2003 -2.6% -6.15%
2002 -4.47% -6.9%
2001 - -8.48%
2000 - -7.78%
1999 - -5.58%
1998 - -6.79%
1997 - -5.71%
1996 - -6.89%
1995 - -7.11%
1994 - -7.41%
1993 - -5.77%
1992 - -4.95%
1991 - -7.97%
1990 - -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malawi/sri-lanka | 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 Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 23 years, Malawi recorded a fiscal deficit in 22 of those years, while Sri Lanka ran a deficit in 23 years. On average, Malawi posted an annual deficit equal to 4.26% of GDP, compared to deficit of 6.91% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Malawi

Sri Lanka
1x
Year Consumer prices inflation
Malawi Sri Lanka
2024 32.2% -0.43%
2023 28.8% 16.5%
2022 20.8% 49.7%
2021 9.3% 7.01%
2020 8.6% 6.15%
2019 9.4% 3.53%
2018 9.2% 2.14%
2017 11.5% 7.7%
2016 21.7% 3.96%
2015 21.9% 3.77%
2014 23.8% 3.18%
2013 28.3% 6.91%
2012 21.3% 7.54%
2011 7.6% 6.72%
2010 7.4% 6.22%
2009 8.4% 3.46%
2008 8.7% 22.6%
2007 7.9% 15.8%
2006 13.9% 10%
2005 15.5% 11.6%
2004 11.4% 7.58%
2003 9.6% 6.31%
2002 14.7% 9.55%
2001 22.7% 14.2%
2000 29.6% 6.18%
1999 44.8% 4.69%
1998 29.8% 9.36%
1997 9.1% 9.57%

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/sri-lanka | CC BY

Over the past 28 years, Malawi has recorded an average annual inflation rate of 17.4%, compared with 9.34% in Sri Lanka. In 2024, inflation was 32.2% in Malawi and -0.43% in Sri Lanka.

Top exports between countries

Malawi
Export category Export value
Processed food, beverages & tobacco $586K
Raw agricultural goods $38K
Precious metals & jewellery $16K
Textiles & consumer goods $3K
Chemicals & pharma $1K
Metals $1K
Wood & paper products $1K
Sri Lanka
Export category Export value
Wood & paper products $1.76M
Processed food, beverages & tobacco $84K
Machinery & equipment $53K
Chemicals & pharma $52K
Raw materials & minerals $33K
Textiles & consumer goods $20K
Precious metals & jewellery $2K

Balance of trade

Malawi Sri Lanka
Current account balance
-$2.13B
2024
$1.21B
2024
Current account balance ranking
145/190
2024
53/190
2024
Current account balance, % of GDP
-18.8%
2024
+1.22%
2024
Goods imports
$3.02B
2024
$18.8B
2024
Goods exports
$1.02B
2024
$12.8B
2024
Service imports
$895M
2024
$3.48B
2024
Service exports
$508M
2024
$6.91B
2024
Imports of goods and services, % of GDP
31.2%
2023
22.5%
2024
Exports of goods and services, % of GDP
11.2%
2023
19.9%
2024

Economic freedom indices

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

Malawi Sri Lanka
Economic freedom 50.7 50.3
Economic freedom ranking 159/197 162/197
Property rights 49.5 47.3
Government integrity 35 37.3
Judicial effectiveness 51.8 47.2
Tax burden 77 77
Government spending 77.8 89
Fiscal health 4.7 0
Business freedom 34.1 60.1
Labor freedom 55.2 54.3
Monetary freedom 55.1 65.9
Trade freedom 68.6 65.6
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Malawi
Sri Lanka
1x
Year Economic freedom index
Malawi Sri Lanka
2026 50.7 50.3
2025 50.9 49.4
2024 52.1 49.2
2023 52.8 52.2
2022 53 53.3
2021 53 55.7
2020 52.8 57.4
2019 51.4 56.4
2018 52 57.8
2017 52.2 57.4
2016 51.8 59.9
2015 54.8 58.6
2014 55.4 60
2013 55.3 60.7
2012 56.4 58.3
2011 55.8 57.1
2010 54.1 54.6
2009 53.7 56
2008 52.7 58.4
2007 52.9 59.4
2006 55.4 58.7
2005 53.6 61
2004 53.6 61.6
2003 53.2 62.5
2002 56.9 64
2001 56.2 66
2000 57.4 63.2
1999 54 64
1998 54.1 64.6
1997 53.4 65.5
1996 56.2 62.5
1995 54.7 60.6

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

GeoRank.org/economy/malawi/sri-lanka | CC BY

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi Sri Lanka
Services, % of GDP
44.2%
2024
57.5%
2024
Industry, % of GDP
17.1%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
31.8%
2024
8.3%
2024
GNI, Atlas method
$12.3B
2024
$84.6B
2024
GNI per capita, PPP
$1,830
2024
$15,240
2024
Total reserves including gold
$594M
2020
$6.09B
2024
Total reserves ranking
154/177
2020
92/177
2024
Net foreign direct investment
-$202M
2024
-$651M
2024
Net inflows of foreign direct investment
$681M
2024
$761M
2024
Net outflows of foreign direct investment
$56.4M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
4.98%
2024
Poverty at national poverty lines
50.7%
2019
14.3%
2019
Gross capital formation, % of GDP
14.5%
2023
27%
2024

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/sri-lanka | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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. TradeMap (2020–2024, retrieved 2026-02-08)
  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.