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Economy of Malaysia vs Slovenia compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $72.5B for Slovenia, ranking 39/197 and 86/197 by economy size, respectively.

Malaysia has $297B in government debt (70.1% of GDP), compared to $48.6B (68% of GDP) in Slovenia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Malaysia
GDP, current $

GDP, constant 2015 $
Slovenia
GDP, current $

GDP, constant 2015 $
Year GDP
Malaysia Slovenia
Current $ Constant $ Current $ Constant $
1960 $1,916,229,477 $10,075,053,650 - -
1961 $1,901,856,123 $10,840,555,622 - -
1962 $2,001,489,602 $11,536,630,908 - -
1963 $2,510,110,348 $12,383,281,584 - -
1964 $2,674,423,922 $13,046,897,051 - -
1965 $2,956,337,669 $14,049,533,277 - -
1966 $3,143,517,944 $15,147,744,694 - -
1967 $3,188,924,677 $15,732,015,397 - -
1968 $3,330,371,551 $16,987,114,742 - -
1969 $3,664,552,041 $17,817,535,563 - -
1970 $3,864,145,667 $18,884,189,212 - -
1971 $4,244,395,956 $20,779,153,503 - -
1972 $5,043,347,250 $22,729,992,899 - -
1973 $7,662,902,678 $25,389,647,919 - -
1974 $9,496,204,302 $27,501,726,906 - -
1975 $9,298,800,799 $27,722,034,465 - -
1976 $11,050,234,599 $30,927,669,086 - -
1977 $13,139,488,633 $33,325,509,326 - -
1978 $16,358,079,862 $35,542,952,797 - -
1979 $21,213,264,962 $38,865,898,972 - -
1980 $24,488,224,677 $41,758,231,850 - -
1981 $25,004,285,792 $44,657,131,817 - -
1982 $26,804,493,635 $47,311,173,245 - -
1983 $30,347,442,111 $50,269,176,995 - -
1984 $33,942,897,422 $54,170,965,010 - -
1985 $31,199,633,353 $53,615,577,054 - -
1986 $27,734,111,400 $54,280,729,183 - -
1987 $32,181,210,158 $57,098,947,793 - -
1988 $35,272,109,220 $62,773,281,162 - -
1989 $38,847,965,293 $68,460,289,887 - -
1990 $44,024,585,240 $74,627,553,680 $19,832,029,087 $27,206,132,648
1991 $49,143,148,094 $81,751,102,498 $14,454,495,059 $24,784,757,479
1992 $59,167,550,163 $89,014,784,404 $14,277,261,541 $23,430,593,235
1993 $66,894,966,969 $97,822,746,879 $14,449,298,372 $24,096,823,248
1994 $74,478,356,958 $106,834,219,205 $16,400,767,070 $25,380,578,071
1995 $88,705,342,903 $117,335,045,631 $21,367,422,159 $26,422,998,604
1996 $100,855,393,910 $129,071,719,045 $21,470,699,363 $27,192,863,782
1997 $100,005,323,302 $138,523,307,833 $20,726,878,752 $28,599,098,755
1998 $72,167,498,981 $128,328,802,477 $22,058,635,314 $29,475,325,366
1999 $79,148,421,053 $136,205,126,471 $22,609,669,084 $31,028,087,571
2000 $93,789,736,842 $148,271,359,065 $20,159,190,702 $32,113,425,072
2001 $92,783,947,368 $149,038,923,296 $20,668,868,707 $33,021,812,644
2002 $100,845,526,316 $157,073,594,224 $23,214,593,516 $34,105,781,288
2003 $110,202,368,421 $166,165,798,104 $29,360,575,032 $35,195,471,632
2004 $124,749,473,684 $177,437,551,536 $34,156,553,313 $36,795,465,565
2005 $143,534,405,819 $186,898,768,709 $35,947,936,824 $38,213,609,800
2006 $162,692,258,307 $197,336,779,112 $39,260,368,837 $40,471,568,430
2007 $193,549,569,478 $209,766,600,384 $47,880,266,543 $43,360,927,308
2008 $230,811,614,370 $219,902,039,819 $55,509,332,322 $44,823,161,262
2009 $202,257,453,037 $216,573,759,299 $49,975,540,955 $41,420,820,596
2010 $255,017,638,456 $232,654,030,399 $47,793,117,241 $41,881,476,947
2011 $297,951,668,675 $244,970,531,974 $51,199,194,599 $42,155,984,116
2012 $314,443,047,642 $258,378,881,826 $46,167,053,954 $40,926,910,456
2013 $323,276,235,524 $270,506,469,604 $47,867,056,859 $40,589,764,219
2014 $338,066,095,097 $286,755,041,078 $49,514,466,380 $41,711,191,731
2015 $301,355,266,965 $301,355,266,965 $42,709,468,275 $42,709,468,275
2016 $301,256,033,870 $314,764,917,575 $44,290,685,824 $44,005,450,730
2017 $319,109,094,160 $333,061,328,477 $48,153,200,135 $46,282,469,721
2018 $358,788,845,713 $349,191,778,300 $53,689,067,640 $48,309,217,703
2019 $365,177,721,022 $364,602,265,936 $53,909,922,736 $50,002,578,163
2020 $337,456,163,961 $344,706,479,641 $53,384,760,135 $47,959,972,370
2021 $373,784,823,673 $356,134,704,342 $61,529,280,461 $51,983,646,951
2022 $407,605,841,348 $387,694,727,479 $59,927,702,746 $53,386,809,690
2023 $399,705,137,434 $401,479,163,711 $69,148,468,417 $54,514,654,619
2024 $421,972,102,254 $422,011,432,357 $72,485,008,929 $55,381,990,841

Economic indicators

Malaysia Slovenia
Gross domestic product
$422B
2024
$72.5B
2024
GDP rank
39/197
2024
86/197
2024
GDP growth
5.57%
2023-2024
4.83%
2023-2024
GDP per capita
$11,867
2024
$34,089
2024
GDP per capita rank
81/197
2024
33/197
2024
GDP per capita, PPP
$38,729
2024
$56,531
2024
Government debt
$297B
2024
$48.6B
2024
Debt-to-GDP ratio
70.1%
2025
68%
2025
Government debt per person
$8,353
2024
$22,853
2024
Government debt per person rank
63/185
2024
29/185
2024
Average annual personal income after taxes
$9,650
2025
$21,364
2025
Market capitalization of domestic companies
$449B
2024
$11.4B
2024
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
20.6%
2023
Income share by poorest 10%
2.3%
2021
4.1%
2023
Government expenditure, % of GDP
23.1%
2025
47.5%
2025
Consumer prices inflation
1.83%
2023-2024
1.97%
2023-2024
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.93%
2022
3.7%
2024
Population
36304998
2124696

GDP per capita in Malaysia vs Slovenia

Malaysia's GDP per capita is $11,867, ranking 81/197, compared to $34,089 in Slovenia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,729, while Slovenia ranks 35th at $56,531.

Malaysia
GDP per capita

GDP per capita, PPP
Slovenia
GDP per capita

GDP per capita, PPP
Year Current $
Malaysia Slovenia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $240.8 - - -
1961 $232.9 - - -
1962 $238.8 - - -
1963 $291.8 - - -
1964 $303 - - -
1965 $326 - - -
1966 $339 - - -
1967 $335 - - -
1968 $342 - - -
1969 $368 - - -
1970 $380 - - -
1971 $407 - - -
1972 $472 - - -
1973 $701 - - -
1974 $848 - - -
1975 $811 - - -
1976 $940 - - -
1977 $1,092 - - -
1978 $1,327 - - -
1979 $1,680 - - -
1980 $1,886 - - -
1981 $1,866 - - -
1982 $1,938 - - -
1983 $2,124 - - -
1984 $2,300 - - -
1985 $2,046 - - -
1986 $1,760 - - -
1987 $1,977 - - -
1988 $2,100 - - -
1989 $2,244 - - -
1990 $2,469 $6,887 $9,925 $13,482
1991 $2,679 $7,583 $7,229 $12,689
1992 $3,141 $8,224 $7,151 $12,287
1993 $3,462 $9,018 $7,255 $12,967
1994 $3,758 $9,806 $8,244 $13,966
1995 $4,363 $10,720 $10,738 $13,628
1996 $4,837 $11,709 $10,797 $14,279
1997 $4,679 $12,469 $10,437 $15,253
1998 $3,294 $11,398 $11,132 $15,992
1999 $3,528 $11,980 $11,401 $17,007
2000 $4,084 $13,027 $10,136 $17,888
2001 $3,944 $13,072 $10,376 $18,765
2002 $4,184 $13,656 $11,639 $20,004
2003 $4,465 $14,387 $14,712 $20,918
2004 $4,939 $15,416 $17,104 $22,591
2005 $5,556 $16,371 $17,970 $23,682
2006 $6,158 $17,426 $19,563 $25,577
2007 $7,169 $18,617 $23,725 $27,469
2008 $8,372 $19,480 $27,462 $29,461
2009 $7,191 $18,923 $24,502 $27,214
2010 $8,899 $20,193 $23,330 $27,582
2011 $10,217 $21,324 $24,941 $28,716
2012 $10,601 $22,639 $22,442 $28,787
2013 $10,714 $23,161 $23,237 $29,634
2014 $11,013 $24,307 $24,013 $30,572
2015 $9,649 $24,526 $20,697 $31,345
2016 $9,477 $25,286 $21,448 $33,575
2017 $9,863 $26,416 $23,303 $36,180
2018 $10,902 $27,794 $25,888 $38,620
2019 $10,920 $28,934 $25,814 $42,373
2020 $9,958 $27,475 $25,392 $41,767
2021 $10,903 $29,823 $29,187 $45,914
2022 $11,748 $34,366 $28,374 $51,079
2023 $11,379 $36,417 $32,610 $53,952
2024 $11,867 $38,729 $34,089 $56,531

Spending and national debt comparison

In 2024, Malaysia's government spending was $101B, accounting for 23.1% of its GDP, while Slovenia's spent $33.9B, or 47.5% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 68% in Slovenia, ranking 55/185 and 61/185, respectively.

Malaysia
Government spending

Government debt
Slovenia
Government spending

Government debt
Year % of GDP
Malaysia Slovenia
Government spending Government debt Government spending Government debt
1990 30.5% 74.1% - -
1991 27.4% 67.3% - -
1992 28.2% 59.1% - -
1993 24.6% 51.1% - -
1994 23.3% 43.7% - -
1995 22.6% 38.2% 53% 18.2%
1996 22.4% 32.8% 45.2% 21.6%
1997 21.2% 29.6% 45.4% 22.1%
1998 23.1% 33.6% 46.4% 22.8%
1999 24.6% 34.4% 47.2% 23.8%
2000 25.6% 32.5% 47.8% 26.1%
2001 28.2% 38.1% 49.2% 26.3%
2002 27.1% 39.5% 47.8% 27.7%
2003 28.1% 41.4% 47.6% 27%
2004 25.9% 42% 46.9% 27.1%
2005 24.5% 40.8% 46.7% 26.6%
2006 25.6% 39.7% 45.7% 26.2%
2007 25.9% 39.3% 43.5% 22.9%
2008 26.9% 39.4% 45.2% 21.9%
2009 30.9% 50.4% 50% 34.9%
2010 26.6% 51.2% 50.7% 38.6%
2011 27.1% 51.9% 51.4% 46.8%
2012 28.5% 53.8% 50% 54.1%
2013 27.8% 55.7% 57.7% 70.8%
2014 26% 55.4% 50.6% 81.1%
2015 24.7% 57% 49.5% 83.4%
2016 22.9% 55.8% 46.9% 79.4%
2017 22% 54.4% 44.6% 74.9%
2018 22.8% 55.6% 44.1% 71%
2019 23.6% 57.1% 43.8% 66%
2020 25% 67.7% 51.8% 80.2%
2021 24.5% 69.2% 49.9% 74.8%
2022 24.7% 65.5% 47.7% 72.7%
2023 24.9% 69.7% 46.5% 68.4%
2024 23.9% 70.4% 46.8% 67%
2025 23.1% 70.1% 47.5% 68%

Government deficit by year

In 2024, Malaysia's government deficit, the difference between spending and revenue, was -$16.7B, equivalent to -3.95% of GDP. This compares to Slovenia's deficit of -$646M, or -0.89% of GDP.

Over the past 30 years, Malaysia recorded a fiscal deficit in 27 of those years, while Slovenia ran a deficit in 27 years. On average, Malaysia posted an annual deficit equal to -2.83% of GDP, compared to deficit of -3.23% of GDP for Slovenia.

Deficit/surplus
Malaysia

Slovenia
Year Deficit/surplus, % of GDP
Malaysia Slovenia
1990 0.15% -
1991 1.6% -
1992 1.81% -
1993 3.44% -
1994 5.45% -
1995 3.1% -8.19%
1996 3.27% -1.16%
1997 4.84% -2.37%
1998 -0.63% -2.39%
1999 -3% -3.04%
2000 -6.05% -3.77%
2001 -4.36% -4.58%
2002 -3.96% -2.47%
2003 -4.6% -2.66%
2004 -3.35% -1.98%
2005 -2.83% -1.38%
2006 -2.6% -1.26%
2007 -2.57% -0.08%
2008 -3.4% -1.44%
2009 -5.88% -5.87%
2010 -4.32% -5.56%
2011 -3.57% -6.69%
2012 -3.1% -4.2%
2013 -3.48% -11.2%
2014 -2.63% -4.53%
2015 -2.55% -2.84%
2016 -2.6% -2%
2017 -2.41% 0.05%
2018 -2.64% 0.9%
2019 -2.01% 0.68%
2020 -4.9% -7.68%
2021 -6.03% -4.61%
2022 -4.56% -3.01%
2023 -3.97% -2.57%
2024 -3.95% -0.89%
2025 -3.36% -2.46%

Inflation comparison by year

Over the past 29 years, Malaysia has recorded an average annual inflation rate of 2.29%, compared with 3.92% in Slovenia. In 2024, inflation was 1.83% in Malaysia and 1.97% in Slovenia.

Inflation
Malaysia

Slovenia
Year Inflation
Malaysia Slovenia Malaysia Slovenia
1996 3.49% 9.86%
1997 2.66% 8.36%
1998 5.27% 7.89%
1999 2.74% 6.16%
2000 1.53% 8.91%
2001 1.42% 8.38%
2002 1.81% 7.48%
2003 1.09% 5.54%
2004 1.42% 3.59%
2005 2.98% 2.45%
2006 3.61% 2.46%
2007 2.03% 3.66%
2008 5.44% 5.65%
2009 0.58% 0.84%
2010 1.62% 1.8%
2011 3.17% 1.8%
2012 1.66% 2.6%
2013 2.11% 1.77%
2014 3.14% 0.2%
2015 2.1% -0.53%
2016 2.09% -0.05%
2017 3.87% 1.43%
2018 0.88% 1.74%
2019 0.66% 1.63%
2020 -1.14% -0.05%
2021 2.48% 1.92%
2022 3.38% 8.83%
2023 2.49% 7.45%
2024 1.83% 1.97%

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $43.8M
Metals $39.2M
Raw materials & minerals $25M
Textiles & consumer goods $7.82M
Chemicals & pharma $3.32M
Processed food, beverages & tobacco $808K
Miscellaneous $412K
Wood & paper products $243K
Precious metals & jewellery $102K
Slovenia
Export category Export value
Chemicals & pharma $16.4M
Machinery & equipment $10.5M
Textiles & consumer goods $3.5M
Metals $3.05M
Raw materials & minerals $1.7M
Business & finance services $1.04M
Transport & tourism services $569K
Wood & paper products $534K
IT & IP services $345K
Processed food, beverages & tobacco $146K

Balance of trade

Malaysia Slovenia
Current account balance
$7.15B
2024
$3.23B
2024
Current account balance ranking
25/189
2024
38/189
2024
Current account balance, % of GDP
+1.69%
2024
+4.46%
2024
Goods imports
$223B
2024
$45B
2024
Goods exports
$248B
2024
$45.6B
2024
Service imports
$56.4B
2024
$9.59B
2024
Service exports
$53.4B
2024
$13.5B
2024
Imports of goods and services, % of GDP
66%
2024
74.9%
2024
Exports of goods and services, % of GDP
71.4%
2024
81.5%
2024

Economic freedom indices

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

Malaysia Slovenia
Economic freedom 67.1 68.3
Economic freedom ranking 50/197 49/197
Property rights 66.3 88.4
Government integrity 51.1 64.4
Judicial effectiveness 66.2 91.8
Tax burden 83.9 56.6
Government spending 82.1 30.9
Fiscal health 48.1 72.2
Business freedom 76.6 78.5
Labor freedom 58.1 64.5
Monetary freedom 79.6 72.9
Trade freedom 83.4 79.6
Investment freedom 60 70
Financial freedom 50 50

Economic freedom by year comparison

The Economic Freedom Index for Malaysia is 67.1, ranking 50/197, compared to 68.3 for Slovenia, ranking 49/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Malaysia
Slovenia
Year Economic freedom index
Malaysia Slovenia
1995 71.9 -
1996 69.9 50.4
1997 66.8 55.6
1998 68.2 60.7
1999 68.9 61.3
2000 66 58.3
2001 60.2 61.8
2002 60.1 57.8
2003 61.1 57.7
2004 59.9 59.2
2005 61.9 59.6
2006 61.6 61.9
2007 63.8 59.6
2008 63.9 60.2
2009 64.6 62.9
2010 64.8 64.7
2011 66.3 64.6
2012 66.4 62.9
2013 66.1 61.7
2014 69.6 62.7
2015 70.8 60.3
2016 71.5 60.6
2017 73.8 59.2
2018 74.5 64.8
2019 74 65.5
2020 74.7 67.8
2021 74.4 68.3
2022 68.1 70.5
2023 67.3 68.5
2024 65.7 65.9
2025 67.1 68.3

More economic indicators

Malaysia Slovenia
Services, % of GDP
53.6%
2024
58.2%
2024
Industry, % of GDP
37.1%
2024
28.8%
2024
Agriculture, forestry, and fishing, % of GDP
8.16%
2024
1.49%
2024
GNI, Atlas method
$415B
2024
$67.3B
2024
GNI per capita, PPP
$37,500
2024
$55,870
2024
Total reserves including gold
$116B
2024
$2.83B
2024
Total reserves ranking
24/177
2024
118/177
2024
Net foreign direct investment
-$2.55B
2024
-$551M
2024
Net inflows of foreign direct investment
$15.6B
2024
$1.95B
2024
Net outflows of foreign direct investment
$13B
2024
$1.4B
2024
Poverty at national poverty lines
5.8%
2023
12.7%
2022
Gross capital formation, % of GDP
21.9%
2024
21.2%
2024

GDP per capita map

GDP per capita

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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.

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.