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Economy of Malaysia vs Nepal compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $42.9B for Nepal, ranking 38/197 and 101/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Malaysia vs Nepal GDP by year

Malaysia
Nepal
1x
Year GDP, current $
Malaysia Nepal
2024 $422,227,005,429 $42,914,268,287
2023 $399,949,418,753 $41,047,772,331
2022 $407,830,525,990 $41,182,939,601
2021 $373,784,553,030 $36,924,841,394
2020 $337,456,163,961 $33,433,659,301
2019 $365,177,721,022 $34,186,180,699
2018 $358,788,845,713 $33,111,525,237
2017 $319,109,094,160 $28,971,588,940
2016 $301,256,033,870 $24,524,109,484
2015 $301,355,266,965 $24,360,801,287
2014 $338,066,095,097 $22,731,612,922
2013 $323,276,235,524 $22,162,204,925
2012 $314,443,047,642 $21,703,100,877
2011 $297,951,668,675 $21,573,872,421
2010 $255,017,638,456 $16,002,656,434
2009 $202,257,453,037 $12,854,985,464
2008 $230,811,614,370 $12,545,438,605
2007 $193,549,569,478 $10,325,618,017
2006 $162,692,258,307 $9,043,715,356
2005 $143,534,405,819 $8,130,258,378
2004 $124,749,473,684 $7,273,938,315
2003 $110,202,368,421 $6,330,473,097
2002 $100,845,526,316 $6,050,875,807
2001 $92,783,947,368 $6,007,055,042
2000 $93,789,736,842 $5,494,252,208
1999 $79,148,421,053 $5,033,642,384
1998 $72,167,498,981 $4,856,255,044
1997 $100,005,323,302 $4,918,691,917
1996 $100,855,393,910 $4,521,580,381
1995 $88,705,342,903 $4,401,104,418
1994 $74,478,356,958 $4,066,775,510
1993 $66,894,966,969 $3,660,041,667
1992 $59,167,550,163 $3,401,211,581
1991 $49,143,148,094 $3,921,476,085
1990 $44,024,585,240 $3,627,560,239
1989 $38,847,965,293 $3,525,225,787
1988 $35,272,109,220 $3,487,009,748
1987 $32,181,210,158 $2,957,255,380
1986 $27,734,111,400 $2,850,782,044
1985 $31,199,633,353 $2,619,913,956
1984 $33,942,897,422 $2,581,207,388
1983 $30,347,442,111 $2,447,174,803
1982 $26,804,493,635 $2,395,423,742
1981 $25,004,285,792 $2,275,583,317
1980 $24,488,224,677 $1,945,916,583
1979 $21,213,264,962 $1,851,250,008
1978 $16,358,079,862 $1,604,162,497
1977 $13,139,488,633 $1,382,400,000
1976 $11,050,234,599 $1,452,788,985
1975 $9,298,800,799 $1,575,789,254
1974 $9,496,204,302 $1,217,953,547
1973 $7,662,902,678 $972,101,725
1972 $5,043,347,250 $1,024,098,400
1971 $4,244,395,956 $882,765,472
1970 $3,864,145,667 $865,975,309
1969 $3,664,552,041 $788,641,965
1968 $3,330,371,551 $772,231,387
1967 $3,188,924,677 $841,974,025
1966 $3,143,517,944 $906,811,944
1965 $2,956,337,669 $735,267,082
1964 $2,674,423,922 $496,098,775
1963 $2,510,110,348 $496,947,904
1962 $2,001,489,602 $574,091,101
1961 $1,901,856,123 $531,959,562
1960 $1,916,229,477 $508,334,414

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

GeoRank.org/economy/malaysia/nepal | CC BY

GDP per capita in Malaysia vs Nepal by year

Malaysia
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $1,447 $5,737
2023 $11,386 $36,467 $1,382 $5,395
2022 $11,755 $34,420 $1,386 $5,103
2021 $10,903 $29,823 $1,253 $4,546
2020 $9,958 $27,475 $1,154 $4,236
2019 $10,920 $28,934 $1,203 $4,261
2018 $10,902 $27,794 $1,179 $3,956
2017 $9,863 $26,416 $1,034 $3,605
2016 $9,477 $25,286 $877 $2,976
2015 $9,649 $24,526 $876 $2,957
2014 $11,013 $24,307 $821 $2,901
2013 $10,714 $23,161 $803 $2,658
2012 $10,601 $22,639 $788 $2,466
2011 $10,217 $21,324 $786 $2,248
2010 $8,899 $20,193 $585 $2,139
2009 $7,191 $18,923 $473 $2,029
2008 $8,372 $19,480 $465 $1,942
2007 $7,169 $18,617 $385 $1,809
2006 $6,158 $17,426 $340 $1,718
2005 $5,556 $16,371 $309 $1,628
2004 $4,939 $15,416 $279.6 $1,542
2003 $4,465 $14,387 $246.4 $1,453
2002 $4,184 $13,656 $238.9 $1,390
2001 $3,944 $13,072 $240.8 $1,388
2000 $4,084 $13,027 $223.8 $1,317
1999 $3,528 $11,980 $208.6 $1,234
1998 $3,294 $11,398 $205.1 $1,187
1997 $4,679 $12,469 $211.8 $1,162
1996 $4,837 $11,709 $198.8 $1,110
1995 $4,363 $10,720 $197.8 $1,058
1994 $3,758 $9,806 $187.3 $1,026
1993 $3,462 $9,018 $172.8 $952
1992 $3,141 $8,224 $165 $920
1991 $2,679 $7,583 $195.7 $889
1990 $2,469 $6,887 $185.8 $830
1989 $2,244 - $185 -
1988 $2,100 - $187.1 -
1987 $1,977 - $162 -
1986 $1,760 - $159.5 -
1985 $2,046 - $149.9 -
1984 $2,300 - $151.1 -
1983 $2,124 - $146.6 -
1982 $1,938 - $147 -
1981 $1,866 - $142.9 -
1980 $1,886 - $125.1 -
1979 $1,680 - $121.9 -
1978 $1,327 - $108.1 -
1977 $1,092 - $95.3 -
1976 $940 - $102.5 -
1975 $811 - $113.6 -
1974 $848 - $89.8 -
1973 $701 - $73.2 -
1972 $472 - $78.8 -
1971 $407 - $69.5 -
1970 $380 - $69.6 -
1969 $368 - $64.8 -
1968 $342 - $64.9 -
1967 $335 - $72.3 -
1966 $339 - $79.5 -
1965 $326 - $65.8 -
1964 $303 - $45.3 -
1963 $291.8 - $46.3 -
1962 $238.8 - $54.6 -
1961 $232.9 - $51.6 -
1960 $240.8 - $50.2 -

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

GeoRank.org/economy/malaysia/nepal | CC BY

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Nepal ranks 155th at $5,737.

Economic indicators

Malaysia Nepal
Gross domestic product
$422B
2024
$42.9B
2024
GDP rank
38/197
2024
101/197
2024
GDP growth
5.11%
2023-2024
3.67%
2023-2024
GDP per capita
$11,874
2024
$1,447
2024
GDP per capita rank
79/197
2024
164/197
2024
GDP per capita, PPP
$38,779
2024
$5,737
2024
GDP per capita PPP rank
60/197
2024
155/197
2024
Government debt
$296B
2024
$20.7B
2024
Debt-to-GDP ratio
70.1%
2024
48.3%
2024
Government debt per person
$8,322
2024
$700
2024
Government debt per person rank
62/185
2024
154/185
2024
Average annual personal income after taxes
$11,005
2026
$2,170
2026
Market capitalization of domestic companies
$449B
2024
n/a
Number of billionaires
19
2025
2
2025
Income share by richest 10%
30.9%
2021
24.2%
2022
Income share by poorest 10%
2.3%
2021
3.7%
2022
Government expenditure, % of GDP
23.9%
2024
22.1%
2024
Consumer prices inflation
1.83%
2023-2024
4.69%
2023-2024
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.93%
2022
10.7%
2017
Population
36512221
29596762

Spending and national debt comparison by year

Malaysia
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Malaysia Nepal
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 22.1% 48.3%
2023 24.9% 69.7% 25.1% 47%
2022 24.6% 65.5% 26.1% 42.7%
2021 24.5% 69.2% 27.2% 43.3%
2020 25% 67.7% 28.5% 43.3%
2019 23.6% 57.1% 27.1% 34%
2018 22.8% 55.6% 28% 31.1%
2017 22% 54.4% 23.6% 25%
2016 22.9% 55.8% 19% 25%
2015 24.7% 57% 17.7% 25.7%
2014 26% 55.4% 16.6% 27.6%
2013 27.8% 55.7% 15.5% 31.9%
2012 28.5% 53.8% 16.8% 34.5%
2011 27.1% 51.9% 16.3% 32.4%
2010 26.6% 51.2% 16.5% 35.4%
2009 30.9% 50.4% 17% 39.5%
2008 26.9% 39.4% 13.4% 36.8%
2007 25.9% 39.3% 13.1% 37.9%
2006 25.6% 39.7% 11.2% 42.9%
2005 24.5% 40.8% 12% 45.1%
2004 25.9% 42% 11.8% 51.3%
2003 28.1% 41.4% 12% 53%
2002 27.1% 39.5% 13% 51.8%
2001 28.2% 38.1% 12.9% 50.8%
2000 25.6% 32.5% 11.4% 50.8%
1999 24.6% 34.4% - -
1998 23.1% 33.6% - -
1997 21.2% 29.6% - -
1996 22.4% 32.8% - -
1995 22.6% 38.2% - -
1994 23.3% 43.7% - -
1993 24.6% 51.1% - -
1992 28.2% 59.1% - -
1991 27.4% 67.3% - -
1990 30.5% 74.1% - -

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

GeoRank.org/economy/malaysia/nepal | CC BY

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 48.3% in Nepal, ranking 58/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Nepal
1x
Year Deficit/surplus, % of GDP
Malaysia Nepal
2024 -3.95% -2.76%
2023 -3.97% -5.81%
2022 -4.56% -3.12%
2021 -6.03% -3.98%
2020 -4.9% -7.47%
2019 -2.01% -4.27%
2018 -2.64% -5.83%
2017 -2.41% -2.69%
2016 -2.6% 1.2%
2015 -2.55% 0.46%
2014 -2.63% 1.36%
2013 -3.48% 1.57%
2012 -3.1% -1.18%
2011 -3.57% -0.72%
2010 -4.32% -0.67%
2009 -5.88% -2.24%
2008 -3.4% -0.29%
2007 -2.57% -0.67%
2006 -2.6% 0.24%
2005 -2.83% 0.24%
2004 -3.35% -0.14%
2003 -4.6% -0.34%
2002 -3.96% -2.46%
2001 -4.36% -2.35%
2000 -6.05% -1.48%
1999 -3% -
1998 -0.63% -
1997 4.84% -
1996 3.27% -
1995 3.1% -
1994 5.45% -
1993 3.44% -
1992 1.81% -
1991 1.6% -
1990 0.15% -

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

GeoRank.org/economy/malaysia/nepal | CC BY

In 2024, Malaysia's government deficit, the difference between spending and revenue, was $16.7B, equivalent to 3.95% of GDP. This compares to Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Malaysia recorded a fiscal deficit in 25 of those years, while Nepal ran a deficit in 19 years. On average, Malaysia posted an annual deficit equal to 3.69% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Malaysia

Nepal
1x
Year Consumer prices inflation
Malaysia Nepal
2024 1.83% 4.69%
2023 2.49% 7.12%
2022 3.38% 7.67%
2021 2.48% 4.13%
2020 -1.14% 5.06%
2019 0.66% 5.57%
2018 0.88% 4.41%
2017 3.87% 2.78%
2016 2.09% 8.79%
2015 2.1% 7.87%
2014 3.14% 8.36%
2013 2.11% 9.04%
2012 1.66% 9.46%
2011 3.17% 9.23%
2010 1.62% 9.33%
2009 0.58% 11.1%
2008 5.44% 9.91%
2007 2.03% 2.27%
2006 3.61% 6.92%
2005 2.98% 6.84%
2004 1.42% 2.84%
2003 1.09% 5.71%
2002 1.81% 3.03%
2001 1.42% 2.69%
2000 1.53% 2.48%
1999 2.74% 7.45%
1998 5.27% 11.2%
1997 2.66% 4.01%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/malaysia/nepal | CC BY

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 6.43% in Nepal. In 2024, inflation was 1.83% in Malaysia and 4.69% in Nepal.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $16M
Raw materials & minerals $14M
Processed food, beverages & tobacco $9.82M
Miscellaneous $4.3M
Textiles & consumer goods $2.75M
Chemicals & pharma $2.7M
Metals $532K
Animal & marine products $368K
Wood & paper products $195K
Raw agricultural goods $152K
Nepal
Export category Export value
Processed food, beverages & tobacco $681K
Raw agricultural goods $410K
Textiles & consumer goods $312K
Machinery & equipment $94K
Precious metals & jewellery $67K
Metals $56K
Chemicals & pharma $39K
Animal & marine products $2K
Wood & paper products $2K

Balance of trade

Malaysia Nepal
Current account balance
$7.15B
2024
$1.68B
2024
Current account balance ranking
26/190
2024
50/190
2024
Current account balance, % of GDP
+1.69%
2024
+3.91%
2024
Goods imports
$223B
2024
$12.1B
2024
Goods exports
$248B
2024
$1.54B
2024
Service imports
$56.4B
2024
$2.27B
2024
Service exports
$53.4B
2024
$1.9B
2024
Imports of goods and services, % of GDP
66%
2024
32.9%
2024
Exports of goods and services, % of GDP
71.3%
2024
7.62%
2024

Economic freedom indices

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

Malaysia Nepal
Economic freedom 68 52.9
Economic freedom ranking 51/197 144/197
Property rights 62.7 38.8
Government integrity 52.9 38.9
Judicial effectiveness 63.4 42.9
Tax burden 83.5 84.3
Government spending 82 82.1
Fiscal health 62.5 71
Business freedom 79.6 60.8
Labor freedom 55.4 48.2
Monetary freedom 80.8 69.4
Trade freedom 83 58.6
Investment freedom 60 10
Financial freedom 50 30

Economic freedom comparison by year

Malaysia
Nepal
1x
Year Economic freedom index
Malaysia Nepal
2026 68 52.9
2025 67.1 52.5
2024 65.7 52.1
2023 67.3 51.4
2022 68.1 49.7
2021 74.4 50.7
2020 74.7 54.2
2019 74 53.8
2018 74.5 54.1
2017 73.8 55.1
2016 71.5 50.9
2015 70.8 51.3
2014 69.6 50.1
2013 66.1 50.4
2012 66.4 50.2
2011 66.3 50.1
2010 64.8 52.7
2009 64.6 53.2
2008 63.9 54.1
2007 63.8 54.4
2006 61.6 53.7
2005 61.9 51.4
2004 59.9 51.2
2003 61.1 51.5
2002 60.1 52.3
2001 60.2 51.6
2000 66 51.3
1999 68.9 53.1
1998 68.2 53.5
1997 66.8 53.6
1996 69.9 50.3
1995 71.9 -

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

GeoRank.org/economy/malaysia/nepal | CC BY

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Nepal
Services, % of GDP
53.7%
2024
55.2%
2024
Industry, % of GDP
37%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
21.9%
2024
GNI, Atlas method
$414B
2024
$43.7B
2024
GNI per capita, PPP
$37,450
2024
$5,830
2024
Total reserves including gold
$116B
2024
$12.5B
2023
Total reserves ranking
24/177
2024
74/177
2023
Net foreign direct investment
-$2.55B
2024
-$56.9M
2024
Net inflows of foreign direct investment
$15.6B
2024
$56.9M
2024
Net outflows of foreign direct investment
$13B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.23%
2024
Poverty at national poverty lines
5.8%
2023
20.3%
2022
Gross capital formation, % of GDP
22%
2024
30.4%
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/malaysia/nepal | 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. TradeMap (2021–2024, 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.