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Economy of Malaysia vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $99B for Sri Lanka, ranking 38/197 and 72/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Malaysia vs Sri Lanka GDP by year

Malaysia
Sri Lanka
1x
Year GDP, current $
Malaysia Sri Lanka
2024 $422,227,005,429 $98,963,185,510
2023 $399,949,418,753 $83,716,142,582
2022 $407,830,525,990 $74,143,020,263
2021 $373,784,553,030 $88,556,698,938
2020 $337,456,163,961 $84,335,574,582
2019 $365,177,721,022 $88,998,706,297
2018 $358,788,845,713 $94,450,015,983
2017 $319,109,094,160 $94,369,350,286
2016 $301,256,033,870 $88,000,211,172
2015 $301,355,266,965 $85,090,301,052
2014 $338,066,095,097 $82,531,125,191
2013 $323,276,235,524 $76,976,203,829
2012 $314,443,047,642 $70,447,217,164
2011 $297,951,668,675 $67,753,285,897
2010 $255,017,638,456 $58,636,049,434
2009 $202,257,453,037 $42,066,224,093
2008 $230,811,614,370 $40,713,826,215
2007 $193,549,569,478 $32,350,238,760
2006 $162,692,258,307 $28,267,410,543
2005 $143,534,405,819 $24,405,791,045
2004 $124,749,473,684 $20,662,525,941
2003 $110,202,368,421 $18,881,765,437
2002 $100,845,526,316 $16,536,535,647
2001 $92,783,947,368 $15,749,753,805
2000 $93,789,736,842 $16,595,882,819
1999 $79,148,421,053 $15,711,933,513
1998 $72,167,498,981 $15,760,736,956
1997 $100,005,323,302 $15,091,913,884
1996 $100,855,393,910 $13,897,738,375
1995 $88,705,342,903 $13,029,697,561
1994 $74,478,356,958 $11,717,604,209
1993 $66,894,966,969 $10,338,679,636
1992 $59,167,550,163 $9,703,011,636
1991 $49,143,148,094 $9,000,362,582
1990 $44,024,585,240 $8,032,551,173
1989 $38,847,965,293 $6,987,267,684
1988 $35,272,109,220 $6,978,371,581
1987 $32,181,210,158 $6,682,167,120
1986 $27,734,111,400 $6,405,210,564
1985 $31,199,633,353 $5,978,460,972
1984 $33,942,897,422 $6,043,474,843
1983 $30,347,442,111 $5,167,913,302
1982 $26,804,493,635 $4,768,765,017
1981 $25,004,285,792 $4,415,844,156
1980 $24,488,224,677 $4,024,621,900
1979 $21,213,264,962 $3,364,611,432
1978 $16,358,079,862 $2,733,183,857
1977 $13,139,488,633 $4,104,509,583
1976 $11,050,234,599 $3,591,319,857
1975 $9,298,800,799 $3,791,298,146
1974 $9,496,204,302 $3,574,586,466
1973 $7,662,902,678 $2,875,625,000
1972 $5,043,347,250 $2,553,936,348
1971 $4,244,395,956 $2,369,308,600
1970 $3,864,145,667 $2,296,470,588
1969 $3,664,552,041 $1,965,546,218
1968 $3,330,371,551 $1,801,344,538
1967 $3,188,924,677 $1,859,465,021
1966 $3,143,517,944 $1,751,470,588
1965 $2,956,337,669 $1,698,319,328
1964 $2,674,423,922 $1,309,747,899
1963 $2,510,110,348 $1,240,672,269
1962 $2,001,489,602 $1,434,156,379
1961 $1,901,856,123 $1,444,327,731
1960 $1,916,229,477 $1,409,873,950

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

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

GDP per capita in Malaysia vs Sri Lanka by year

Malaysia
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $4,516 $15,633
2023 $11,386 $36,467 $3,799 $14,456
2022 $11,755 $34,420 $3,343 $14,194
2021 $10,903 $29,823 $3,997 $14,316
2020 $9,958 $27,475 $3,848 $12,941
2019 $10,920 $28,934 $4,082 $14,113
2018 $10,902 $27,794 $4,359 $14,178
2017 $9,863 $26,416 $4,399 $13,610
2016 $9,477 $25,286 $4,149 $13,079
2015 $9,649 $24,526 $4,058 $12,227
2014 $11,013 $24,307 $3,972 $11,721
2013 $10,714 $23,161 $3,739 $11,253
2012 $10,601 $22,639 $3,328 $10,249
2011 $10,217 $21,324 $3,225 $9,076
2010 $8,899 $20,193 $2,808 $8,234
2009 $7,191 $18,923 $2,027 $7,576
2008 $8,372 $19,480 $1,974 $7,317
2007 $7,169 $18,617 $1,579 $6,820
2006 $6,158 $17,426 $1,389 $6,261
2005 $5,556 $16,371 $1,207 $5,679
2004 $4,939 $15,416 $1,029 $5,216
2003 $4,465 $14,387 $946 $4,850
2002 $4,184 $13,656 $835 $4,522
2001 $3,944 $13,072 $804 $4,328
2000 $4,084 $13,027 $860 $4,368
1999 $3,528 $11,980 $829 $4,103
1998 $3,294 $11,398 $848 $3,952
1997 $4,679 $12,469 $827 $3,804
1996 $4,837 $11,709 $776 $3,582
1995 $4,363 $10,720 $742 $3,454
1994 $3,758 $9,806 $678 $3,260
1993 $3,462 $9,018 $607 $3,067
1992 $3,141 $8,224 $580 $2,851
1991 $2,679 $7,583 $546 $2,713
1990 $2,469 $6,887 $491 $2,527
1989 $2,244 - $430 -
1988 $2,100 - $434 -
1987 $1,977 - $420 -
1986 $1,760 - $407 -
1985 $2,046 - $385 -
1984 $2,300 - $391 -
1983 $2,124 - $336 -
1982 $1,938 - $312 -
1981 $1,866 - $292.5 -
1980 $1,886 - $271.1 -
1979 $1,680 - $230.8 -
1978 $1,327 - $191 -
1977 $1,092 - $292.1 -
1976 $940 - $260.3 -
1975 $811 - $279.8 -
1974 $848 - $268.7 -
1973 $701 - $220.2 -
1972 $472 - $199.4 -
1971 $407 - $188.8 -
1970 $380 - $186.9 -
1969 $368 - $163.6 -
1968 $342 - $153.5 -
1967 $335 - $162.3 -
1966 $339 - $156.6 -
1965 $326 - $155.6 -
1964 $303 - $122.9 -
1963 $291.8 - $119.4 -
1962 $238.8 - $141.4 -
1961 $232.9 - $145.9 -
1960 $240.8 - $145.9 -

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

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

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Malaysia Sri Lanka
Gross domestic product
$422B
2024
$99B
2024
GDP rank
38/197
2024
72/197
2024
GDP growth
5.11%
2023-2024
5.01%
2023-2024
GDP per capita
$11,874
2024
$4,516
2024
GDP per capita rank
79/197
2024
124/197
2024
GDP per capita, PPP
$38,779
2024
$15,633
2024
GDP per capita PPP rank
60/197
2024
111/197
2024
Government debt
$296B
2024
$99.8B
2024
Debt-to-GDP ratio
70.1%
2024
100.8%
2024
Government debt per person
$8,322
2024
$4,554
2024
Government debt per person rank
62/185
2024
85/185
2024
Average annual personal income after taxes
$11,005
2026
$2,874
2026
Market capitalization of domestic companies
$449B
2024
$19.5B
2024
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
30.8%
2019
Income share by poorest 10%
2.3%
2021
3.1%
2019
Government expenditure, % of GDP
23.9%
2024
19.3%
2024
Consumer prices inflation
1.83%
2023-2024
-0.43%
2023-2024
Central bank interest rate
2.75%
2025
7.75%
2025
Unemployment rate
3.93%
2022
4.67%
2023
Population
36512221
22185425

Spending and national debt comparison by year

Malaysia
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Malaysia Sri Lanka
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 19.3% 100.8%
2023 24.9% 69.7% 19.5% 110.4%
2022 24.6% 65.5% 18.6% 115.9%
2021 24.5% 69.2% 20% 102.7%
2020 25% 67.7% 22.1% 96.9%
2019 23.6% 57.1% 19.5% 82.6%
2018 22.8% 55.6% 17.5% 83.6%
2017 22% 54.4% 17.9% 72.3%
2016 22.9% 55.8% 18.2% 75%
2015 24.7% 57% 19.3% 76.3%
2014 26% 55.4% 17.2% 69.6%
2013 27.8% 55.7% 16.6% 69.5%
2012 28.5% 53.8% 17.3% 67.5%
2011 27.1% 51.9% 19.1% 69.4%
2010 26.6% 51.2% 19.3% 68.7%
2009 30.9% 50.4% 21% 72.8%
2008 26.9% 39.4% 19.1% 68.8%
2007 25.9% 39.3% 19.9% 71.8%
2006 25.6% 39.7% 20.5% 74.3%
2005 24.5% 40.8% 20.1% 76.6%
2004 25.9% 42% 19.3% 86.5%
2003 28.1% 41.4% 19.3% 86.5%
2002 27.1% 39.5% 20.8% 96.3%
2001 28.2% 38.1% 22.4% 84.4%
2000 25.6% 32.5% 21.7% 79.2%
1999 24.6% 34.4% 20.5% 77.7%
1998 23.1% 33.6% 21.4% 74.2%
1997 21.2% 29.6% 21.4% 70.1%
1996 22.4% 32.8% 23.1% 76.2%
1995 22.6% 38.2% 24.8% 77.8%
1994 23.3% 43.7% 24.1% 77.9%
1993 24.6% 51.1% 23.2% 79.2%
1992 28.2% 59.1% 23% 77.9%
1991 27.4% 67.3% 26.4% 80.5%
1990 30.5% 74.1% 25.4% 78.9%

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

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

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 100.8% in Sri Lanka, ranking 58/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Malaysia Sri Lanka
2024 -3.95% -5.64%
2023 -3.97% -8.32%
2022 -4.56% -10.2%
2021 -6.03% -11.7%
2020 -4.9% -13.4%
2019 -2.01% -7.52%
2018 -2.64% -4.96%
2017 -2.41% -5.1%
2016 -2.6% -5%
2015 -2.55% -6.64%
2014 -2.63% -5.99%
2013 -3.48% -5%
2012 -3.1% -5.44%
2011 -3.57% -6.01%
2010 -4.32% -6.73%
2009 -5.88% -8.33%
2008 -3.4% -5.93%
2007 -2.57% -5.81%
2006 -2.6% -5.91%
2005 -2.83% -5.93%
2004 -3.35% -6.32%
2003 -4.6% -6.15%
2002 -3.96% -6.9%
2001 -4.36% -8.48%
2000 -6.05% -7.78%
1999 -3% -5.58%
1998 -0.63% -6.79%
1997 4.84% -5.71%
1996 3.27% -6.89%
1995 3.1% -7.11%
1994 5.45% -7.41%
1993 3.44% -5.77%
1992 1.81% -4.95%
1991 1.6% -7.97%
1990 0.15% -6.39%

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

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

Over the past 35 years, Malaysia recorded a fiscal deficit in 27 of those years, while Sri Lanka ran a deficit in 35 years. On average, Malaysia posted an annual deficit equal to 2.07% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Malaysia

Sri Lanka
1x
Year Consumer prices inflation
Malaysia Sri Lanka
2024 1.83% -0.43%
2023 2.49% 16.5%
2022 3.38% 49.7%
2021 2.48% 7.01%
2020 -1.14% 6.15%
2019 0.66% 3.53%
2018 0.88% 2.14%
2017 3.87% 7.7%
2016 2.09% 3.96%
2015 2.1% 3.77%
2014 3.14% 3.18%
2013 2.11% 6.91%
2012 1.66% 7.54%
2011 3.17% 6.72%
2010 1.62% 6.22%
2009 0.58% 3.46%
2008 5.44% 22.6%
2007 2.03% 15.8%
2006 3.61% 10%
2005 2.98% 11.6%
2004 1.42% 7.58%
2003 1.09% 6.31%
2002 1.81% 9.55%
2001 1.42% 14.2%
2000 1.53% 6.18%
1999 2.74% 4.69%
1998 5.27% 9.36%
1997 2.66% 9.57%

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

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

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 9.34% in Sri Lanka. In 2024, inflation was 1.83% in Malaysia and -0.43% in Sri Lanka.

Top exports between countries

Malaysia
Export category Export value
Raw materials & minerals $354M
Processed food, beverages & tobacco $129M
Chemicals & pharma $92.2M
Machinery & equipment $63.3M
Textiles & consumer goods $22.3M
Metals $21.4M
Wood & paper products $17.7M
Animal & marine products $2.93M
Raw agricultural goods $973K
Miscellaneous $904K
Sri Lanka
Export category Export value
Raw materials & minerals $35.4M
Textiles & consumer goods $15.7M
Raw agricultural goods $12.8M
Wood & paper products $8.24M
Machinery & equipment $7.44M
Processed food, beverages & tobacco $2.77M
Animal & marine products $2.05M
Chemicals & pharma $1.14M
Precious metals & jewellery $921K
Metals $874K

Balance of trade

Malaysia Sri Lanka
Current account balance
$7.15B
2024
$1.21B
2024
Current account balance ranking
26/190
2024
53/190
2024
Current account balance, % of GDP
+1.69%
2024
+1.22%
2024
Goods imports
$223B
2024
$18.8B
2024
Goods exports
$248B
2024
$12.8B
2024
Service imports
$56.4B
2024
$3.48B
2024
Service exports
$53.4B
2024
$6.91B
2024
Imports of goods and services, % of GDP
66%
2024
22.5%
2024
Exports of goods and services, % of GDP
71.3%
2024
19.9%
2024

Economic freedom indices

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

Malaysia Sri Lanka
Economic freedom 68 50.3
Economic freedom ranking 51/197 162/197
Property rights 62.7 47.3
Government integrity 52.9 37.3
Judicial effectiveness 63.4 47.2
Tax burden 83.5 77
Government spending 82 89
Fiscal health 62.5 0
Business freedom 79.6 60.1
Labor freedom 55.4 54.3
Monetary freedom 80.8 65.9
Trade freedom 83 65.6
Investment freedom 60 30
Financial freedom 50 30

Economic freedom comparison by year

Malaysia
Sri Lanka
1x
Year Economic freedom index
Malaysia Sri Lanka
2026 68 50.3
2025 67.1 49.4
2024 65.7 49.2
2023 67.3 52.2
2022 68.1 53.3
2021 74.4 55.7
2020 74.7 57.4
2019 74 56.4
2018 74.5 57.8
2017 73.8 57.4
2016 71.5 59.9
2015 70.8 58.6
2014 69.6 60
2013 66.1 60.7
2012 66.4 58.3
2011 66.3 57.1
2010 64.8 54.6
2009 64.6 56
2008 63.9 58.4
2007 63.8 59.4
2006 61.6 58.7
2005 61.9 61
2004 59.9 61.6
2003 61.1 62.5
2002 60.1 64
2001 60.2 66
2000 66 63.2
1999 68.9 64
1998 68.2 64.6
1997 66.8 65.5
1996 69.9 62.5
1995 71.9 60.6

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

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

The Economic Freedom Index for Malaysia is 68, ranking 51/197, 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

Malaysia Sri Lanka
Services, % of GDP
53.7%
2024
57.5%
2024
Industry, % of GDP
37%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
8.3%
2024
GNI, Atlas method
$414B
2024
$84.6B
2024
GNI per capita, PPP
$37,450
2024
$15,240
2024
Total reserves including gold
$116B
2024
$6.09B
2024
Total reserves ranking
24/177
2024
92/177
2024
Net foreign direct investment
-$2.55B
2024
-$651M
2024
Net inflows of foreign direct investment
$15.6B
2024
$761M
2024
Net outflows of foreign direct investment
$13B
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines
5.8%
2023
14.3%
2019
Gross capital formation, % of GDP
22%
2024
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/malaysia/sri-lanka | 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 (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.