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Economy of Malawi vs United States compared: GDP & Debt

Updated on by Georank

Malawi has a GDP of $14.9B compared to $30.8T for the United States, ranking 148/197 and 1/197 by economy size, respectively.

Malawi has $11.7B in government debt (78.4% of GDP), compared to $38.1T (123.9% of GDP) in the United States.

Malawi vs United States GDP by year

Malawi
United States
1x
Year GDP, current $
Malawi United States
2025 $14,918,276,698 $30,769,700,000,000
2024 $11,311,971,400 $29,298,013,000,000
2023 $13,363,669,673 $27,811,517,000,000
2022 $12,429,059,928 $26,054,614,000,000
2021 $12,378,119,199 $23,725,645,000,000
2020 $11,769,313,598 $21,375,281,000,000
2019 $11,051,852,713 $21,539,982,000,000
2018 $9,879,220,354 $20,656,516,000,000
2017 $8,943,543,794 $19,612,102,000,000
2016 $7,909,868,618 $18,804,913,000,000
2015 $9,219,474,379 $18,295,019,000,000
2014 $8,801,326,169 $17,608,138,000,000
2013 $8,031,571,928 $16,880,683,000,000
2012 $8,773,203,178 $16,253,970,000,000
2011 $11,648,142,958 $15,599,732,000,000
2010 $10,128,323,011 $15,048,971,000,000
2009 $9,009,887,947 $14,478,067,000,000
2008 $7,743,617,352 $14,769,862,000,000
2007 $6,451,210,219 $14,474,228,000,000
2006 $5,818,279,739 $13,815,583,000,000
2005 $5,320,409,651 $13,039,197,000,000
2004 $5,058,726,350 $12,217,196,000,000
2003 $4,669,789,300 $11,456,450,000,000
2002 $5,087,328,438 $10,929,108,000,000
2001 $2,498,008,665 $10,581,929,000,000
2000 $2,537,307,580 $10,250,952,000,000
1999 $2,584,478,924 $9,631,172,000,000
1998 $2,547,609,590 $9,062,817,000,000
1997 $3,875,785,863 $8,577,552,000,000
1996 $3,319,573,750 $8,073,122,000,000
1995 $2,033,701,498 $7,639,749,000,000
1994 $1,719,864,761 $7,287,236,000,000
1993 $3,013,392,658 $6,858,559,000,000
1992 $2,618,837,835 $6,520,327,000,000
1991 $3,206,783,830 $6,158,129,000,000
1990 $2,737,087,862 $5,963,144,000,000
1989 $2,314,205,130 $5,641,580,000,000
1988 $2,008,189,508 $5,236,438,000,000
1987 $1,721,711,808 $4,855,215,000,000
1986 $1,722,586,299 $4,579,631,000,000
1985 $1,646,442,273 $4,338,979,000,000
1984 $1,758,028,656 $4,037,613,000,000
1983 $1,780,148,049 $3,634,038,000,000
1982 $1,717,379,495 $3,343,789,000,000
1981 $1,801,193,910 $3,207,041,000,000
1980 $1,801,156,775 $2,857,307,000,000
1979 - $2,627,333,000,000
1978 - $2,351,599,000,000
1977 - $2,081,826,000,000
1976 - $1,873,412,000,000
1975 - $1,684,904,000,000
1974 - $1,545,243,000,000
1973 - $1,425,376,000,000
1972 - $1,279,110,000,000
1971 - $1,164,850,000,000
1970 - $1,073,303,000,000
1969 - $1,017,438,172,414
1968 - $940,225,000,000
1967 - $859,620,034,483
1966 - $813,032,758,621
1965 - $741,904,862,069
1964 - $684,144,620,690
1963 - $637,058,551,724
1962 - $603,639,413,793
1961 - $561,940,310,345
1960 - $541,988,586,207

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

GeoRank.org/economy/malawi/united-states | CC BY

GDP per capita in Malawi vs United States by year

Malawi
GDP per capita

GDP per capita, PPP
United States
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malawi United States
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $672 - $90,027 -
2024 $522 $1,858 $86,143 $85,810
2023 $633 $1,830 $83,041 $82,305
2022 $604 $1,778 $78,178 $77,861
2021 $617 $1,688 $71,486 $71,307
2020 $603 $1,513 $64,475 $64,402
2019 $581 $1,450 $65,605 $65,228
2018 $533 $1,364 $63,201 $62,876
2017 $496 $1,380 $60,322 $60,048
2016 $451 $1,410 $58,207 $57,977
2015 $540 $1,403 $57,040 $56,849
2014 $530 $1,506 $55,304 $55,153
2013 $497 $1,558 $53,410 $53,297
2012 $558 $1,464 $51,784 $51,708
2011 $763 $1,516 $50,066 $50,025
2010 $683 $1,458 $48,651 $48,643
2009 $626 $1,388 $47,195 $47,195
2008 $554 $1,311 $48,570 $48,570
2007 $475 $1,231 $48,050 $48,050
2006 $441 $1,124 $46,302 $46,302
2005 $414 $1,071 $44,123 $44,123
2004 $405 $1,033 $41,725 $41,725
2003 $383 $979 $39,490 $39,490
2002 $428 $931 $37,998 $37,998
2001 $215.5 $924 $37,134 $37,134
2000 $224.2 $974 $36,330 $36,330
1999 $233.9 $961 $34,484 $34,515
1998 $236 $941 $32,823 $32,854
1997 $367 $915 $31,430 $31,459
1996 $321 $884 $29,937 $29,968
1995 $200.4 $825 $28,661 $28,691
1994 $169.2 $692 $27,662 $27,695
1993 $293 $746 $26,353 $26,387
1992 $258.4 $674 $25,381 $25,419
1991 $326 $732 $24,293 $24,342
1990 $286.7 $672 $23,840 $23,889
1989 $252.2 - $22,857 -
1988 $229.4 - $21,417 -
1987 $207.6 - $20,039 -
1986 $217.9 - $19,071 -
1985 $216.1 - $18,237 -
1984 $239.7 - $17,121 -
1983 $252.4 - $15,544 -
1982 $253.3 - $14,434 -
1981 $276.4 - $13,976 -
1980 $287.5 - $12,613 -
1979 - - $11,674 -
1978 - - $10,565 -
1977 - - $9,453 -
1976 - - $8,592 -
1975 - - $7,801 -
1974 - - $7,226 -
1973 - - $6,726 -
1972 - - $6,094 -
1971 - - $5,609 -
1970 - - $5,234 -
1969 - - $5,020 -
1968 - - $4,685 -
1967 - - $4,326 -
1966 - - $4,136 -
1965 - - $3,818 -
1964 - - $3,565 -
1963 - - $3,366 -
1962 - - $3,236 -
1961 - - $3,059 -
1960 - - $3,000 -

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

GeoRank.org/economy/malawi/united-states | CC BY

Malawi's GDP per capita is $672, ranking 190/197, compared to $90,027 in the United States, ranking 10/197. Adjusted for purchasing power (GDP per capita PPP), Malawi ranks 189th at $1,858, while the United States ranks 12th at $85,810.

Economic indicators

Malawi United States
Gross domestic product
$14.9B
2025
$30.8T
2025
GDP rank
148/197
2025
1/197
2025
GDP growth
1.89%
2024-2025
2.16%
2024-2025
GDP per capita
$672
2025
$90,027
2025
GDP per capita rank
190/197
2025
10/197
2025
GDP per capita, PPP
$1,858
2024
$85,810
2024
GDP per capita PPP rank
189/197
2024
12/197
2024
Government debt
$11.7B
2025
$38.1T
2025
Debt-to-GDP ratio
78.4%
2025
123.9%
2025
Government debt per person
$526
2025
$111,531
2025
Government debt per person rank
166/185
2025
2/185
2025
Average annual personal income after taxes
$1,255
2026
$54,600
2026
Market capitalization of domestic companies n/a
$68.9T
2025
Number of millionaires n/a
23,627,000
2026
Number of billionaires n/a
989
2026
Income share by richest 10%
31%
2019
30.7%
2024
Income share by poorest 10%
2.9%
2019
1.7%
2024
Government expenditure, % of GDP
30.6%
2025
37.7%
2025
Consumer prices inflation
28.4%
2024-2025
2.95%
2023-2024
Central bank interest rate
24%
2026
3.75%
2025
Unemployment rate
15.4%
2024
4.28%
2025
Population
23086106
344434632

Spending and national debt comparison by year

Malawi
Spending

Debt
United States
Spending

Debt
1x
Year % of GDP
Malawi United States
Government spending Government debt Government spending Government debt
2025 30.6% 78.4% 37.7% 123.9%
2024 29.5% 87.6% 37.7% 122.3%
2023 25.5% 86.7% 37.5% 120%
2022 26.7% 75.7% 36.8% 119.1%
2021 23.7% 66.5% 43.2% 125%
2020 22.7% 53.9% 44.7% 132.6%
2019 19.3% 41.2% 35.8% 108.8%
2018 19.4% 40.8% 35.3% 107.7%
2017 21% 40% 35.2% 106.4%
2016 19.7% 37.1% 35.3% 107.4%
2015 19.5% 35.5% 35% 105.4%
2014 18.3% 33.5% 35.3% 104.9%
2013 20.7% 35.3% 35.8% 105%
2012 18.8% 28.6% 37.2% 103.7%
2011 17% 20% 38.8% 100%
2010 19.6% 19.3% 39.8% 95.7%
2009 20.2% 23.5% 41.4% 87.1%
2008 20.6% 23.5% 37.1% 73.8%
2007 20.7% 18.9% 34.6% 64.9%
2006 17.8% 17.9% 33.7% 64.5%
2005 17.4% 70.9% 33.9% 65.8%
2004 17.2% 74.7% 33.7% 66.4%
2003 15.4% 84.7% 34% 59%
2002 13.8% 101.5% 33.7% 55.9%
2001 - - 32.8% 53.5%
2000 - - 31.7% 54.5%
1999 - - 32.2% 60.5%
1998 - - 32.8% 64.2%
1997 - - 33.7% 67.4%
1996 - - 34.7% 69.9%
1995 - - 35.5% 70.7%
1994 - - 35.5% 71.1%
1993 - - 36.4% 71.9%
1992 - - 36.7% 70.3%
1991 - - 35.7% 67.9%
1990 - - 34.5% 63.1%
1989 - - 33.7% 61.6%
1988 - - 33.7% 61.3%
1987 - - 34.3% 60.6%
1986 - - 34.8% 58.9%
1985 - - 34.5% 55.4%
1984 - - 34.3% 50.6%
1983 - - 35.7% 48.9%
1982 - - 35.8% 45.9%
1981 - - 33.9% 41.1%
1980 - - 33.7% 41.9%
1979 - - 32% 41.2%
1978 - - 32.6% 42.5%
1977 - - 33.4% 43.6%
1976 - - 34.2% 44.8%
1975 - - 35.2% 44.6%
1974 - - 32.9% 41.4%
1973 - - 31.9% 42.6%
1972 - - 32.8% 45.4%
1971 - - 32.3% 47%
1970 - - 31.5% 46.4%
1969 - - 29.3% 45.9%
1968 - - 29.1% 48.5%
1967 - - 28.3% 50.4%
1966 - - 26.3% 50.6%
1965 - - 25.4% 53.7%
1964 - - 25.6% 56.7%
1963 - - 26% 58.8%
1962 - - 26% 60.2%
1961 - - 25.9% 62.3%
1960 - - 24.9% 61.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2001–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-07-08).

GeoRank.org/economy/malawi/united-states | CC BY

In 2025, Malawi's government spending was $4.56B, accounting for 30.6% of its GDP, while the United States spent $11.6T, or 37.7% of GDP.

Debt-to-GDP ratio is 78.4% in Malawi and 123.9% in the United States, ranking 47/185 and 12/185, respectively.

Government deficit by year

Deficit/surplus
Malawi

United States
1x
Year Deficit/surplus, % of GDP
Malawi United States
2025 -11.5% -6.82%
2024 -11% -7.86%
2023 -7.84% -7.89%
2022 -9.32% -3.72%
2021 -8.34% -11.5%
2020 -8.03% -14.1%
2019 -4.55% -5.81%
2018 -4.35% -5.33%
2017 -5.15% -4.79%
2016 -4.9% -4.36%
2015 -4.17% -3.53%
2014 -3.08% -4.03%
2013 -3.73% -4.56%
2012 -1.45% -8.11%
2011 -2.85% -9.72%
2010 0.63% -11%
2009 -2.97% -13.2%
2008 -2.92% -6.61%
2007 -2.56% -2.91%
2006 -0.05% -2.04%
2005 -1.63% -3.07%
2004 -2.61% -4.24%
2003 -2.6% -4.77%
2002 -4.47% -3.82%
2001 - -0.54%
2000 - 3.62%
1999 - 2.71%
1998 - 2.18%
1997 - 0.88%
1996 - -0.46%
1995 - -1.7%
1994 - -2.05%
1993 - -3.35%
1992 - -3.98%
1991 - -2.72%
1990 - -1.64%
1989 - -0.8%
1988 - -1.06%
1987 - -1.53%
1986 - -2.81%
1985 - -2.63%
1984 - -2.97%
1983 - -4.26%
1982 - -3.78%
1981 - -1.58%
1980 - -2.17%
1979 - -0.79%
1978 - -1.7%
1977 - -2.57%
1976 - -3.63%
1975 - -5.4%
1974 - -1.27%
1973 - -0.86%
1972 - -1.86%
1971 - -2.63%
1970 - -1.21%
1969 - 2.11%
1968 - 1.23%
1967 - 0.47%
1966 - 2.07%
1965 - 2.38%
1964 - 2.18%
1963 - 2.87%
1962 - 2.32%
1961 - 2.28%
1960 - 3.2%
1959 - -9.06%
1958 - -8.68%
1957 - -6.72%
1956 - -6.02%
1955 - -7.4%
1954 - -5.55%
1953 - -5.76%
1952 - -5.41%
1951 - -6.93%
1950 - -8.22%
1949 - -7.94%
1948 - -4.16%
1947 - -3.99%
1946 - -6.45%
1945 - -14.1%
1944 - -13.4%
1943 - -19.3%
1942 - -16.3%
1941 - -10.2%
1940 - -9.73%
1939 - -11.9%
1938 - -10.4%
1937 - -9.22%
1936 - -12.1%
1935 - -13.3%
1934 - -14.9%
1933 - -14.3%
1932 - -12.7%
1931 - -9.76%
1930 - -5.46%
1929 - -4.58%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (2001–2025, retrieved 2026-07-08).

GeoRank.org/economy/malawi/united-states | 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 the United States' deficit of $2.1T, or 6.82% of GDP.

Over the past 24 years, Malawi recorded a fiscal deficit in 23 of those years, while the United States ran a deficit in 24 years. On average, Malawi posted an annual deficit equal to 4.56% of GDP, compared to deficit of 6.41% of GDP for the United States.

Inflation comparison by year

Inflation
Malawi

United States
1x
Year Consumer prices inflation
Malawi United States
2025 28.4% -
2024 32.2% 2.95%
2023 28.8% 4.12%
2022 20.8% 8%
2021 9.3% 4.7%
2020 8.6% 1.23%
2019 9.4% 1.81%
2018 9.2% 2.44%
2017 11.5% 2.13%
2016 21.7% 1.26%
2015 21.9% 0.12%
2014 23.8% 1.62%
2013 28.3% 1.46%
2012 21.3% 2.07%
2011 7.6% 3.16%
2010 7.4% 1.64%
2009 8.4% -0.36%
2008 8.7% 3.84%
2007 7.9% 2.85%
2006 13.9% 3.23%
2005 15.5% 3.39%
2004 11.4% 2.68%
2003 9.6% 2.27%
2002 14.7% 1.59%
2001 22.7% 2.83%
2000 29.6% 3.38%
1999 44.8% 2.19%
1998 29.8% 1.55%
1997 9.1% 2.34%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2024, retrieved 2026-07-08).

GeoRank.org/economy/malawi/united-states | CC BY

Over the past 28 years, Malawi has recorded an average annual inflation rate of 17.4%, compared with 2.52% in the United States. In 2024, inflation was 28.4% in Malawi and 2.95% in the United States.

Top exports between countries

Malawi
Export category Export value
Processed food, beverages & tobacco $29.6M
Raw agricultural goods $12.6M
Machinery & equipment $293K
Textiles & consumer goods $84K
Metals $35K
Wood & paper products $16K
Precious metals & jewellery $9K
Raw materials & minerals $9K
United States
Export category Export value
Machinery & equipment $11M
Miscellaneous $7.2M
Chemicals & pharma $4.08M
Raw agricultural goods $1.06M
Processed food, beverages & tobacco $538K
Textiles & consumer goods $478K
Raw materials & minerals $409K
Wood & paper products $168K
Metals $145K
Precious metals & jewellery $32K

Balance of trade

Malawi United States
Current account balance
-$2.13B
2024
-$1.12T
2025
Current account balance ranking
143/190
2024
190/190
2025
Current account balance, % of GDP
-18.8%
2024
-3.63%
2025
Goods imports
$3.02B
2024
$3.44T
2025
Goods exports
$1.02B
2024
$2.2T
2025
Service imports
$895M
2024
$903B
2025
Service exports
$508M
2024
$1.23T
2025
Imports of goods and services, % of GDP
28.8%
2025
14%
2024
Exports of goods and services, % of GDP
10.6%
2025
11%
2024

Economic freedom indices

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

Malawi United States
Economic freedom 50.7 72.8
Economic freedom ranking 159/197 27/197
Property rights 49.5 91.6
Government integrity 35 77.1
Judicial effectiveness 51.8 76.4
Tax burden 77 75.3
Government spending 77.8 57.9
Fiscal health 4.7 18.5
Business freedom 34.1 88.6
Labor freedom 55.2 76.3
Monetary freedom 55.1 84.2
Trade freedom 68.6 67.6
Investment freedom 50 80
Financial freedom 50 80

Economic freedom comparison by year

Malawi
United States
1x
Year Economic freedom index
Malawi United States
2026 50.7 72.8
2025 50.9 70.2
2024 52.1 70.1
2023 52.8 70.6
2022 53 72.1
2021 53 74.8
2020 52.8 76.6
2019 51.4 76.8
2018 52 75.7
2017 52.2 75.1
2016 51.8 75.4
2015 54.8 76.2
2014 55.4 75.5
2013 55.3 76
2012 56.4 76.3
2011 55.8 77.8
2010 54.1 78
2009 53.7 80.7
2008 52.7 81
2007 52.9 81.2
2006 55.4 81.2
2005 53.6 79.9
2004 53.6 78.7
2003 53.2 78.2
2002 56.9 78.4
2001 56.2 79.1
2000 57.4 76.4
1999 54 75.5
1998 54.1 75.4
1997 53.4 75.6
1996 56.2 76.7
1995 54.7 76.7

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

GeoRank.org/economy/malawi/united-states | CC BY

The Economic Freedom Index for Malawi is 50.7, ranking 159/197, compared to 72.8 for the United States, ranking 27/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malawi United States
Services, % of GDP
48.7%
2025
79.7%
2024
Industry, % of GDP
14.3%
2025
17.3%
2024
Agriculture, forestry, and fishing, % of GDP
30%
2025
0.85%
2024
GNI, Atlas method
$13.4B
2025
$30.4T
2025
GNI per capita, PPP
$1,880
2025
$89,490
2025
Total reserves including gold
$594M
2020
$1.39T
2025
Total reserves ranking
154/177
2020
2/177
2025
Net foreign direct investment
-$202M
2024
$21.7B
2025
Net inflows of foreign direct investment
$258M
2024
$297B
2024
Net outflows of foreign direct investment
$56.4M
2024
$322B
2024
Servicing debt to the IMF, % of GNI
1.47%
2024
n/a
Poverty at national poverty lines
50.7%
2019
15.1%
2020
Gross capital formation, % of GDP
15.7%
2025
21.5%
2024

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/united-states | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (2001–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1960–2026, retrieved 2026-07-08)
  6. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.