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Economy of Malaysia vs South Korea compared: GDP & Debt

Updated on by Georank

Malaysia has a GDP of $472B compared to $1.87T for South Korea, ranking 35/197 and 13/197 by economy size, respectively.

Malaysia has $334B in government debt (70.7% of GDP), compared to $978B (52.3% of GDP) in South Korea.

Malaysia vs South Korea GDP by year

Malaysia
South Korea
1x
Year GDP, current $
Malaysia South Korea
2025 $472,193,128,645 $1,872,374,961,553
2024 $422,227,005,429 $1,875,388,209,407
2023 $399,949,418,753 $1,844,800,934,392
2022 $407,830,525,990 $1,799,363,116,867
2021 $373,784,553,030 $1,942,313,560,966
2020 $337,456,163,961 $1,744,070,276,373
2019 $365,177,721,022 $1,751,045,752,055
2018 $358,788,845,713 $1,824,251,454,307
2017 $319,109,094,160 $1,710,196,756,713
2016 $301,256,033,870 $1,579,150,518,945
2015 $301,355,266,965 $1,539,212,301,136
2014 $338,066,095,097 $1,556,252,422,020
2013 $323,276,235,524 $1,434,669,686,502
2012 $314,443,047,642 $1,335,343,586,438
2011 $297,951,668,675 $1,307,103,477,219
2010 $255,017,638,456 $1,192,830,015,738
2009 $202,257,453,037 $983,065,242,417
2008 $230,811,614,370 $1,091,580,692,542
2007 $193,549,569,478 $1,220,911,904,593
2006 $162,692,258,307 $1,095,175,538,508
2005 $143,534,405,819 $971,740,329,984
2004 $124,749,473,684 $823,251,107,639
2003 $110,202,368,421 $728,516,494,684
2002 $100,845,526,316 $650,014,391,470
2001 $92,783,947,368 $567,564,806,235
2000 $93,789,736,842 $597,487,173,479
1999 $79,148,421,053 $515,697,079,289
1998 $72,167,498,981 $397,297,216,492
1997 $100,005,323,302 $589,202,526,424
1996 $100,855,393,910 $631,196,863,758
1995 $88,705,342,903 $586,286,469,401
1994 $74,478,356,958 $479,181,794,217
1993 $66,894,966,969 $405,705,302,846
1992 $59,167,550,163 $366,921,291,825
1991 $49,143,148,094 $340,851,946,804
1990 $44,024,585,240 $292,064,221,389
1989 $38,847,965,293 $254,236,243,100
1988 $35,272,109,220 $205,477,530,605
1987 $32,181,210,158 $152,240,393,646
1986 $27,734,111,400 $119,965,960,795
1985 $31,199,633,353 $103,764,281,281
1984 $33,942,897,422 $99,749,645,089
1983 $30,347,442,111 $89,621,208,322
1982 $26,804,493,635 $79,921,300,447
1981 $25,004,285,792 $74,287,368,087
1980 $24,488,224,677 $66,547,970,351
1979 $21,213,264,962 $68,083,884,298
1978 $16,358,079,862 $52,824,793,388
1977 $13,139,488,633 $39,064,462,810
1976 $11,050,234,599 $30,371,074,380
1975 $9,298,800,799 $22,126,033,058
1974 $9,496,204,302 $19,860,929,977
1973 $7,662,902,678 $14,067,523,813
1972 $5,043,347,250 $10,990,490,570
1971 $4,244,395,956 $10,005,257,131
1970 $3,864,145,667 $9,085,001,794
1969 $3,664,552,041 $7,743,940,189
1968 $3,330,371,551 $6,167,109,472
1967 $3,188,924,677 $4,895,076,718
1966 $3,143,517,944 $3,957,064,541
1965 $2,956,337,669 $3,141,131,708
1964 $2,674,423,922 $3,476,789,682
1963 $2,510,110,348 $4,007,692,308
1962 $2,001,489,602 $2,826,923,077
1961 $1,901,856,123 $2,427,244,761
1960 $1,916,229,477 $3,973,069,307

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

GeoRank.org/economy/malaysia/south-korea | CC BY

GDP per capita in Malaysia vs South Korea by year

Malaysia
GDP per capita

GDP per capita, PPP
South Korea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia South Korea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,125 - $36,227 -
2024 $11,874 $38,779 $36,239 $61,051
2023 $11,386 $36,467 $35,674 $57,430
2022 $11,755 $34,420 $34,822 $55,509
2021 $10,903 $29,823 $37,518 $51,718
2020 $9,958 $27,475 $33,646 $47,881
2019 $10,920 $28,934 $33,827 $46,511
2018 $10,902 $27,794 $35,364 $45,511
2017 $9,863 $26,416 $33,297 $43,156
2016 $9,477 $25,286 $30,832 $41,673
2015 $9,649 $24,526 $30,172 $39,794
2014 $11,013 $24,307 $30,667 $37,032
2013 $10,714 $23,161 $28,449 $35,844
2012 $10,601 $22,639 $26,601 $35,062
2011 $10,217 $21,324 $26,175 $33,944
2010 $8,899 $20,193 $24,071 $33,120
2009 $7,191 $18,923 $19,937 $30,740
2008 $8,372 $19,480 $22,252 $31,211
2007 $7,169 $18,617 $25,078 $30,255
2006 $6,158 $17,426 $22,610 $27,972
2005 $5,556 $16,371 $20,167 $26,179
2004 $4,939 $15,416 $17,122 $24,658
2003 $4,465 $14,387 $15,212 $22,920
2002 $4,184 $13,656 $13,643 $22,173
2001 $3,944 $13,072 $11,981 $20,442
2000 $4,084 $13,027 $12,710 $19,237
1999 $3,528 $11,980 $11,063 $17,421
1998 $3,294 $11,398 $8,583 $15,500
1997 $4,679 $12,469 $12,822 $16,241
1996 $4,837 $11,709 $13,865 $15,164
1995 $4,363 $10,720 $13,002 $13,921
1994 $3,758 $9,806 $10,734 $12,551
1993 $3,462 $9,018 $9,180 $11,349
1992 $3,141 $8,224 $8,387 $10,468
1991 $2,679 $7,583 $7,873 $9,724
1990 $2,469 $6,887 $6,813 $8,567
1989 $2,244 - $5,989 -
1988 $2,100 - $4,889 -
1987 $1,977 - $3,658 -
1986 $1,760 - $2,911 -
1985 $2,046 - $2,543 -
1984 $2,300 - $2,469 -
1983 $2,124 - $2,246 -
1982 $1,938 - $2,032 -
1981 $1,866 - $1,918 -
1980 $1,886 - $1,746 -
1979 $1,680 - $1,814 -
1978 $1,327 - $1,429 -
1977 $1,092 - $1,073 -
1976 $940 - $847 -
1975 $811 - $627 -
1974 $848 - $572 -
1973 $701 - $412 -
1972 $472 - $328 -
1971 $407 - $304 -
1970 $380 - $281.8 -
1969 $368 - $245.5 -
1968 $342 - $200 -
1967 $335 - $162.5 -
1966 $339 - $134.4 -
1965 $326 - $109.4 -
1964 $303 - $124.2 -
1963 $291.8 - $147 -
1962 $238.8 - $106.6 -
1961 $232.9 - $94.2 -
1960 $240.8 - $158.8 -

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

GeoRank.org/economy/malaysia/south-korea | CC BY

Malaysia's GDP per capita is $13,125, ranking 78/197, compared to $36,227 in South Korea, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while South Korea ranks 33rd at $61,051.

Economic indicators

Malaysia South Korea
Gross domestic product
$472B
2025
$1.87T
2025
GDP rank
35/197
2025
13/197
2025
GDP growth
5.17%
2024-2025
1.01%
2024-2025
GDP per capita
$13,125
2025
$36,227
2025
GDP per capita rank
78/197
2025
33/197
2025
GDP per capita, PPP
$38,779
2024
$61,051
2024
GDP per capita PPP rank
60/197
2024
33/197
2024
Government debt
$334B
2025
$978B
2025
Debt-to-GDP ratio
70.7%
2025
52.3%
2025
Government debt per person
$9,273
2025
$18,930
2025
Government debt per person rank
62/185
2025
34/185
2025
Average annual personal income after taxes
$11,034
2026
$25,661
2026
Market capitalization of domestic companies
$487B
2025
$2.76T
2025
Number of millionaires n/a
1,317,000
2026
Number of billionaires
19
2026
49
2026
Income share by richest 10%
30.9%
2021
25%
2021
Income share by poorest 10%
2.3%
2021
2.9%
2021
Government expenditure, % of GDP
23.4%
2025
24%
2025
Consumer prices inflation
1.38%
2024-2025
2.12%
2024-2025
Central bank interest rate
2.75%
2025
2.5%
2025
Unemployment rate
3.9%
2022
2.79%
2025
Population
36600906
51624449

Spending and national debt comparison by year

Malaysia
Spending

Debt
South Korea
Spending

Debt
1x
Year % of GDP
Malaysia South Korea
Government spending Government debt Government spending Government debt
2025 23.4% 70.7% 24% 52.3%
2024 24% 69.8% 22.5% 49.7%
2023 25% 69.7% 23.1% 50.5%
2022 24.6% 65.5% 26.7% 49.8%
2021 24.5% 69.2% 24.1% 48%
2020 25% 67.7% 23.7% 45.9%
2019 23.6% 57.1% 21.3% 39.7%
2018 22.8% 55.6% 19.3% 37.9%
2017 22% 54.4% 18.6% 38%
2016 22.9% 55.8% 18.5% 39.1%
2015 24.7% 57% 18.8% 38.8%
2014 26% 55.4% 18.8% 37.9%
2013 27.8% 55.7% 19% 36%
2012 28.5% 53.8% 18.8% 33.5%
2011 27.1% 51.9% 18.3% 31.7%
2010 26.6% 51.2% 17.9% 28.3%
2009 30.9% 50.4% 19.5% 28.8%
2008 26.9% 39.4% 19.1% 25.9%
2007 25.9% 39.3% 18.8% 26.3%
2006 25.6% 39.7% 18.7% 27%
2005 24.5% 40.8% 18.2% 24.9%
2004 25.9% 42% 18.5% 21.6%
2003 28.1% 41.4% 17.9% 19.1%
2002 27.1% 39.5% 15.9% 16.4%
2001 28.2% 38.1% 16.9% 16.6%
2000 25.6% 32.5% 16% 16.1%
1999 24.6% 34.4% 16.1% 15.8%
1998 23.1% 33.6% 16% 13.8%
1997 21.2% 29.6% 13.9% 9.69%
1996 22.4% 32.8% 14% 7.81%
1995 22.6% 38.2% 13.5% 8.48%
1994 23.3% 43.7% 15.4% 9.63%
1993 24.6% 51.1% 15.1% 10.9%
1992 28.2% 59.1% 15.5% 11.6%
1991 27.4% 67.3% 15.4% 11.9%
1990 30.5% 74.1% 15.2% 12.8%
1989 - - 15% 12.4%
1988 - - 13.9% 12.7%
1987 - - 14.3% 15.3%
1986 - - 14.9% 14.5%
1985 - - 15.5% 16.2%
1984 - - 15.6% 16.9%
1983 - - 16% 19.3%
1982 - - 17.8% 20.5%
1981 - - 16.3% 18.8%
1980 - - 16.8% 18.6%
1979 - - 16.3% 15.7%
1978 - - 15.7% 18.4%
1977 - - 17.7% 20.1%
1976 - - 17% 20.4%
1975 - - 18.8% 21.5%
1974 - - 16.1% 18.6%
1973 - - 14.2% 17.9%
1972 - - 18.5% 18.3%
1971 - - 18.5% 14.5%
1970 - - 17.5% 6.95%
1969 - - 19.8% 2.63%
1968 - - 18.5% 2.76%
1967 - - 16.7% 3.74%
1966 - - 16% 4.44%
1965 - - 13.1% 6.14%
1964 - - 12.1% 6.57%
1963 - - 15.4% 9.21%
1962 - - 22.3% 13%
1961 - - 21.2% 13.4%
1960 - - 17.9% 13.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/south-korea | CC BY

In 2025, Malaysia's government spending was $111B, accounting for 23.4% of its GDP, while South Korea spent $449B, or 24% of GDP.

Debt-to-GDP ratio is 70.7% in Malaysia and 52.3% in South Korea, ranking 56/185 and 98/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

South Korea
1x
Year Deficit/surplus, % of GDP
Malaysia South Korea
2025 -3.54% -1.43%
2024 -3.45% -0.78%
2023 -4.11% -0.67%
2022 -4.56% -1.49%
2021 -6.03% -0.02%
2020 -4.9% -2.11%
2019 -2.01% 0.35%
2018 -2.64% 2.42%
2017 -2.41% 2.08%
2016 -2.6% 1.56%
2015 -2.55% 0.5%
2014 -2.63% 0.57%
2013 -3.48% 0.79%
2012 -3.1% 1.63%
2011 -3.57% 1.72%
2010 -4.32% 1.61%
2009 -5.88% 0.24%
2008 -3.4% 1.58%
2007 -2.57% 2.49%
2006 -2.6% 1.18%
2005 -2.83% 0.95%
2004 -3.35% 0.09%
2003 -4.6% 1.51%
2002 -3.96% 3.23%
2001 -4.36% 2.42%
2000 -6.05% 3.91%
1999 -3% 1.15%
1998 -0.63% 1.09%
1997 4.84% 2.31%
1996 3.27% 2.3%
1995 3.1% 2.16%
1994 5.45% 2.06%
1993 3.44% 3.21%
1992 1.81% 2.42%
1991 1.6% 1.94%
1990 0.15% 2.98%
1989 - 2.27%
1988 - 2.85%
1987 - 1.7%
1986 - 0.8%
1985 - 0.47%
1984 - 0.78%
1983 - 1.05%
1982 - -0.41%
1981 - 0.99%
1980 - 0.46%
1979 - 0.47%
1978 - -0.27%
1977 - -1.81%
1976 - -0.87%
1975 - -3.68%
1974 - -2.78%
1973 - -1.72%
1972 - -4.33%
1971 - -1.3%
1970 - -0.52%
1969 - -2.85%
1968 - -2.36%
1967 - -2.87%
1966 - -4.27%
1965 - -3.43%
1964 - -4.1%
1963 - -4.32%
1962 - -7.82%
1961 - -9.48%
1960 - -5.18%
1959 - -6.52%
1958 - -10%
1957 - -10.1%
1956 - -10.8%
1955 - -10.6%
1954 - -10.3%
1953 - -4.14%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1953–1994, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/south-korea | CC BY

In 2025, Malaysia's government deficit, the difference between spending and revenue, was $16.7B, equivalent to 3.54% of GDP. This compares to South Korea's deficit of $26.8B, or 1.43% of GDP.

Over the past 36 years, Malaysia recorded a fiscal deficit in 28 of those years, while South Korea ran a deficit in 6 years. On average, Malaysia posted an annual deficit equal to 2.1% of GDP, compared to surplus of 1.28% of GDP for South Korea.

Inflation comparison by year

Inflation
Malaysia

South Korea
1x
Year Consumer prices inflation
Malaysia South Korea
2025 1.38% 2.12%
2024 1.83% 2.32%
2023 2.49% 3.6%
2022 3.38% 5.09%
2021 2.48% 2.5%
2020 -1.14% 0.54%
2019 0.66% 0.38%
2018 0.88% 1.48%
2017 3.87% 1.94%
2016 2.09% 0.97%
2015 2.1% 0.71%
2014 3.14% 1.27%
2013 2.11% 1.3%
2012 1.66% 2.19%
2011 3.17% 4.03%
2010 1.62% 2.94%
2009 0.58% 2.76%
2008 5.44% 4.67%
2007 2.03% 2.53%
2006 3.61% 2.24%
2005 2.98% 2.75%
2004 1.42% 3.59%
2003 1.09% 3.51%
2002 1.81% 2.76%
2001 1.42% 4.07%
2000 1.53% 2.26%
1999 2.74% 0.81%
1998 5.27% 7.51%
1997 2.66% 4.44%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/south-korea | CC BY

Over the past 29 years, Malaysia has recorded an average annual inflation rate of 2.22%, compared with 2.67% in South Korea. In 2025, inflation was 1.38% in Malaysia and 2.12% in South Korea.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $5.49B
Raw materials & minerals $4.08B
Metals $911M
Chemicals & pharma $717M
Transport & tourism services $678M
Processed food, beverages & tobacco $672M
Textiles & consumer goods $199M
Business & finance services $193M
Wood & paper products $101M
Animal & marine products $49.5M
South Korea
Export category Export value
Machinery & equipment $7.47B
Raw materials & minerals $2.55B
Metals $947M
Chemicals & pharma $846M
Textiles & consumer goods $243M
Processed food, beverages & tobacco $176M
Wood & paper products $80.6M
Raw agricultural goods $26.2M
Precious metals & jewellery $13.7M
Miscellaneous $9.7M

Balance of trade

Malaysia South Korea
Current account balance
$7.15B
2024
$123B
2025
Current account balance ranking
29/190
2024
4/190
2025
Current account balance, % of GDP
+1.69%
2024
+6.57%
2025
Goods imports
$223B
2024
$581B
2025
Goods exports
$248B
2024
$719B
2025
Service imports
$56.4B
2024
$185B
2025
Service exports
$53.4B
2024
$150B
2025
Imports of goods and services, % of GDP
65.4%
2025
40.6%
2025
Exports of goods and services, % of GDP
71%
2025
45.8%
2025

Economic freedom indices

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

Malaysia South Korea
Economic freedom 68 73.7
Economic freedom ranking 51/197 24/197
Property rights 62.7 89.6
Government integrity 52.9 70.9
Judicial effectiveness 63.4 77.5
Tax burden 83.5 61.5
Government spending 82 82.6
Fiscal health 62.5 93.5
Business freedom 79.6 81.5
Labor freedom 55.4 55
Monetary freedom 80.8 79.3
Trade freedom 83 73
Investment freedom 60 60
Financial freedom 50 60

Economic freedom comparison by year

Malaysia
South Korea
1x
Year Economic freedom index
Malaysia South Korea
2026 68 73.7
2025 67.1 74
2024 65.7 73.1
2023 67.3 73.7
2022 68.1 74.6
2021 74.4 74
2020 74.7 74
2019 74 72.3
2018 74.5 73.8
2017 73.8 74.3
2016 71.5 71.7
2015 70.8 71.5
2014 69.6 71.2
2013 66.1 70.3
2012 66.4 69.9
2011 66.3 69.8
2010 64.8 69.9
2009 64.6 68.1
2008 63.9 68.6
2007 63.8 67.8
2006 61.6 67.5
2005 61.9 66.4
2004 59.9 67.8
2003 61.1 68.3
2002 60.1 69.5
2001 60.2 69.1
2000 66 69.7
1999 68.9 69.7
1998 68.2 73.3
1997 66.8 69.8
1996 69.9 73
1995 71.9 72

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

GeoRank.org/economy/malaysia/south-korea | CC BY

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 73.7 for South Korea, ranking 24/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia South Korea
Services, % of GDP
54.8%
2025
57.2%
2025
Industry, % of GDP
35.7%
2025
34.3%
2025
Agriculture, forestry, and fishing, % of GDP
8.22%
2025
1.46%
2025
GNI, Atlas method
$445B
2025
$1.96T
2025
GNI per capita, PPP
$40,070
2025
$64,210
2025
Total reserves including gold
$126B
2025
$437B
2025
Total reserves ranking
25/177
2025
9/177
2025
Net foreign direct investment
-$2.55B
2024
$25.4B
2025
Net inflows of foreign direct investment
$15.6B
2024
$12.9B
2024
Net outflows of foreign direct investment
$13B
2024
$49.7B
2024
Poverty at national poverty lines
5.1%
2023
14.4%
2020
Gross capital formation, % of GDP
20.5%
2025
29.1%
2025

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/malaysia/south-korea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1953–1994, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2024–2025, 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.

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.