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Economy of Malaysia vs Togo compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $10.7B for Togo, ranking 38/197 and 154/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $7.68B (72.1% of GDP) in Togo.

Malaysia vs Togo GDP by year

Malaysia
Togo
1x
Year GDP, current $
Malaysia Togo
2024 $422,227,005,429 $10,651,180,147
2023 $399,949,418,753 $9,816,236,303
2022 $407,830,525,990 $8,646,453,099
2021 $373,784,553,030 $8,541,668,141
2020 $337,456,163,961 $7,486,031,562
2019 $365,177,721,022 $6,992,654,019
2018 $358,788,845,713 $7,029,215,766
2017 $319,109,094,160 $6,387,424,240
2016 $301,256,033,870 $6,071,167,584
2015 $301,355,266,965 $5,755,457,836
2014 $338,066,095,097 $6,393,314,708
2013 $323,276,235,524 $6,021,729,630
2012 $314,443,047,642 $5,413,541,649
2011 $297,951,668,675 $5,422,439,152
2010 $255,017,638,456 $4,746,386,893
2009 $202,257,453,037 $4,721,888,275
2008 $230,811,614,370 $4,578,847,113
2007 $193,549,569,478 $3,759,962,853
2006 $162,692,258,307 $3,320,907,722
2005 $143,534,405,819 $3,221,910,408
2004 $124,749,473,684 $3,191,561,509
2003 $110,202,368,421 $2,987,984,051
2002 $100,845,526,316 $2,410,199,032
2001 $92,783,947,368 $2,093,498,674
2000 $93,789,736,842 $2,106,848,752
1999 $79,148,421,053 $2,226,577,204
1998 $72,167,498,981 $2,241,650,112
1997 $100,005,323,302 $2,116,818,623
1996 $100,855,393,910 $2,069,506,014
1995 $88,705,342,903 $1,849,110,468
1994 $74,478,356,958 $1,387,662,121
1993 $66,894,966,969 $1,741,944,426
1992 $59,167,550,163 $2,390,796,916
1991 $49,143,148,094 $2,262,767,860
1990 $44,024,585,240 $2,299,665,506
1989 $38,847,965,293 $1,910,635,575
1988 $35,272,109,220 $1,947,208,354
1987 $32,181,210,158 $1,763,978,066
1986 $27,734,111,400 $1,498,219,579
1985 $31,199,633,353 $1,076,604,520
1984 $33,942,897,422 $1,014,170,069
1983 $30,347,442,111 $1,081,387,265
1982 $26,804,493,635 $1,160,337,039
1981 $25,004,285,792 $1,359,026,709
1980 $24,488,224,677 $1,604,836,916
1979 $21,213,264,962 $1,259,365,712
1978 $16,358,079,862 $1,164,025,637
1977 $13,139,488,633 $1,097,893,826
1976 $11,050,234,599 $874,681,612
1975 $9,298,800,799 $871,781,687
1974 $9,496,204,302 $791,450,308
1973 $7,662,902,678 $574,030,984
1972 $5,043,347,250 $474,043,922
1971 $4,244,395,956 $404,648,368
1970 $3,864,145,667 $358,665,754
1969 $3,664,552,041 $378,091,810
1968 $3,330,371,551 $341,691,567
1967 $3,188,924,677 $327,215,844
1966 $3,143,517,944 $305,227,595
1965 $2,956,337,669 $264,505,506
1964 $2,674,423,922 $234,572,186
1963 $2,510,110,348 $202,305,865
1962 $2,001,489,602 $186,745,758
1961 $1,901,856,123 $178,497,098
1960 $1,916,229,477 $171,057,069

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

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

GDP per capita in Malaysia vs Togo by year

Malaysia
GDP per capita

GDP per capita, PPP
Togo
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Togo
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $1,119 $3,365
2023 $11,386 $36,467 $1,055 $3,154
2022 $11,755 $34,420 $951 $2,935
2021 $10,903 $29,823 $962 $2,639
2020 $9,958 $27,475 $863 $2,384
2019 $10,920 $28,934 $826 $2,215
2018 $10,902 $27,794 $851 $2,067
2017 $9,863 $26,416 $793 $1,986
2016 $9,477 $25,286 $773 $1,933
2015 $9,649 $24,526 $751 $1,880
2014 $11,013 $24,307 $856 $1,803
2013 $10,714 $23,161 $827 $1,715
2012 $10,601 $22,639 $762 $1,645
2011 $10,217 $21,324 $784 $1,616
2010 $8,899 $20,193 $705 $1,537
2009 $7,191 $18,923 $721 $1,474
2008 $8,372 $19,480 $719 $1,429
2007 $7,169 $18,617 $608 $1,387
2006 $6,158 $17,426 $553 $1,407
2005 $5,556 $16,371 $551 $1,368
2004 $4,939 $15,416 $560 $1,427
2003 $4,465 $14,387 $538 $1,440
2002 $4,184 $13,656 $445 $1,357
2001 $3,944 $13,072 $397 $1,320
2000 $4,084 $13,027 $410 $1,315
1999 $3,528 $11,980 $445 $1,332
1998 $3,294 $11,398 $461 $1,318
1997 $4,679 $12,469 $448 $1,373
1996 $4,837 $11,709 $452 $1,218
1995 $4,363 $10,720 $419 $1,140
1994 $3,758 $9,806 $329 $1,082
1993 $3,462 $9,018 $414 $925
1992 $3,141 $8,224 $565 $1,057
1991 $2,679 $7,583 $550 $1,107
1990 $2,469 $6,887 $575 $1,110
1989 $2,244 - $492 -
1988 $2,100 - $517 -
1987 $1,977 - $482 -
1986 $1,760 - $422 -
1985 $2,046 - $313 -
1984 $2,300 - $304 -
1983 $2,124 - $336 -
1982 $1,938 - $372 -
1981 $1,866 - $451 -
1980 $1,886 - $549 -
1979 $1,680 - $443 -
1978 $1,327 - $421 -
1977 $1,092 - $406 -
1976 $940 - $332 -
1975 $811 - $339 -
1974 $848 - $315 -
1973 $701 - $234.4 -
1972 $472 - $198.8 -
1971 $407 - $174.6 -
1970 $380 - $159.8 -
1969 $368 - $174.7 -
1968 $342 - $164.3 -
1967 $335 - $163.9 -
1966 $339 - $159.1 -
1965 $326 - $142.7 -
1964 $303 - $130.1 -
1963 $291.8 - $114.6 -
1962 $238.8 - $107.8 -
1961 $232.9 - $104.8 -
1960 $240.8 - $102.2 -

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

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

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $1,119 in Togo, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Togo ranks 173rd at $3,365.

Economic indicators

Malaysia Togo
Gross domestic product
$422B
2024
$10.7B
2024
GDP rank
38/197
2024
154/197
2024
GDP growth
5.11%
2023-2024
6.53%
2023-2024
GDP per capita
$11,874
2024
$1,119
2024
GDP per capita rank
79/197
2024
172/197
2024
GDP per capita, PPP
$38,779
2024
$3,365
2024
GDP per capita PPP rank
60/197
2024
173/197
2024
Government debt
$296B
2024
$7.68B
2024
Debt-to-GDP ratio
70.1%
2024
72.1%
2024
Government debt per person
$8,322
2024
$807
2024
Government debt per person rank
62/185
2024
149/185
2024
Average annual personal income after taxes
$11,005
2026
$1,661
2026
Market capitalization of domestic companies
$449B
2024
n/a
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
29.6%
2021
Income share by poorest 10%
2.3%
2021
2.8%
2021
Government expenditure, % of GDP
23.9%
2024
26.4%
2024
Consumer prices inflation
1.83%
2023-2024
2.86%
2023-2024
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.93%
2022
1.97%
2022
Population
36512221
9990340

Spending and national debt comparison by year

Malaysia
Spending

Debt
Togo
Spending

Debt
1x
Year % of GDP
Malaysia Togo
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 26.4% 72.1%
2023 24.9% 69.7% 26.6% 68.6%
2022 24.6% 65.5% 26% 67%
2021 24.5% 69.2% 21.8% 64.9%
2020 25% 67.7% 23.7% 62.2%
2019 23.6% 57.1% 16.6% 54.9%
2018 22.8% 55.6% 18.8% 58%
2017 22% 54.4% 16.3% 57.1%
2016 22.9% 55.8% 22.9% 59.9%
2015 24.7% 57% 22.9% 52.4%
2014 26% 55.4% 21.9% 44.9%
2013 27.8% 55.7% 20.5% 41.1%
2012 28.5% 53.8% 19.1% 34.3%
2011 27.1% 51.9% 18.2% 37%
2010 26.6% 51.2% 15.1% 33.5%
2009 30.9% 50.4% 14.3% 57.6%
2008 26.9% 39.4% 12.4% 67.3%
2007 25.9% 39.3% 13.7% 70.5%
2006 25.6% 39.7% 14.7% 67.7%
2005 24.5% 40.8% 13.3% 63.1%
2004 25.9% 42% 10.6% 48.7%
2003 28.1% 41.4% 8.88% 50%
2002 27.1% 39.5% 8.42% 54.8%
2001 28.2% 38.1% 10.9% 68.5%
2000 25.6% 32.5% 11.9% 66.5%
1999 24.6% 34.4% 11.9% 59.9%
1998 23.1% 33.6% 12.8% 62.8%
1997 21.2% 29.6% 10.6% 54.4%
1996 22.4% 32.8% 12.4% 60.4%
1995 22.6% 38.2% 12.7% 64.8%
1994 23.3% 43.7% 13.2% 79%
1993 24.6% 51.1% 14.8% 58.3%
1992 28.2% 59.1% 12.6% 45%
1991 27.4% 67.3% 14.6% 46.9%
1990 30.5% 74.1% 16.8% 44.7%
1989 - - 16.9% 46.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–2004, retrieved 2026-02-20).

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

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Togo spent $2.81B, or 26.4% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 72.1% in Togo, ranking 58/185 and 54/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Togo
1x
Year Deficit/surplus, % of GDP
Malaysia Togo
2024 -3.95% -7.43%
2023 -3.97% -6.73%
2022 -4.56% -8.33%
2021 -6.03% -4.65%
2020 -4.9% -7.05%
2019 -2.01% 1.67%
2018 -2.64% -0.59%
2017 -2.41% -0.21%
2016 -2.6% -7.02%
2015 -2.55% -7.04%
2014 -2.63% -7.11%
2013 -3.48% -5.08%
2012 -3.1% -4.63%
2011 -3.57% -4.48%
2010 -4.32% -1.66%
2009 -5.88% -2.63%
2008 -3.4% -0.59%
2007 -2.57% -1.83%
2006 -2.6% -1.94%
2005 -2.83% -1.67%
2004 -3.35% 0.61%
2003 -4.6% 1.43%
2002 -3.96% -0.28%
2001 -4.36% -0.72%
2000 -6.05% -3.45%
1999 -3% -1.76%
1998 -0.63% -3.25%
1997 4.84% -0.98%
1996 3.27% -3.26%
1995 3.1% -2.97%
1994 5.45% -5.37%
1993 3.44% -8.46%
1992 1.81% -2.27%
1991 1.6% -3.52%
1990 0.15% -1.65%
1989 - -2.18%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989, retrieved 2026-02-20).

GeoRank.org/economy/malaysia/togo | 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 Togo's deficit of $791M, or 7.43% of GDP.

Over the past 35 years, Malaysia recorded a fiscal deficit in 27 of those years, while Togo ran a deficit in 32 years. On average, Malaysia posted an annual deficit equal to 2.07% of GDP, compared to deficit of 3.28% of GDP for Togo.

Inflation comparison by year

Inflation
Malaysia

Togo
1x
Year Consumer prices inflation
Malaysia Togo
2024 1.83% 2.86%
2023 2.49% 5.49%
2022 3.38% 7.97%
2021 2.48% 4.19%
2020 -1.14% 1.7%
2019 0.66% 0.67%
2018 0.88% 0.93%
2017 3.87% -0.98%
2016 2.09% 1.29%
2015 2.1% 2.59%
2014 3.14% 0.19%
2013 2.11% 1.83%
2012 1.66% 2.58%
2011 3.17% 3.56%
2010 1.62% 1.45%
2009 0.58% 3.71%
2008 5.44% 8.69%
2007 2.03% 0.95%
2006 3.61% 2.23%
2005 2.98% 6.78%
2004 1.42% 0.39%
2003 1.09% -0.93%
2002 1.81% 3.06%
2001 1.42% 3.92%
2000 1.53% 1.86%
1999 2.74% -0.05%
1998 5.27% 0.98%
1997 2.66% 8.25%

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

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

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 2.72% in Togo. In 2024, inflation was 1.83% in Malaysia and 2.86% in Togo.

Top exports between countries

Malaysia
Export category Export value
Processed food, beverages & tobacco $250M
Raw materials & minerals $48.6M
Metals $7.36M
Machinery & equipment $4.3M
Animal & marine products $3.07M
Chemicals & pharma $2.71M
Textiles & consumer goods $2.42M
Wood & paper products $224K
Miscellaneous $55K
Precious metals & jewellery $28K
Togo
Export category Export value
Processed food, beverages & tobacco $6.51M
Textiles & consumer goods $5.73M
Metals $293K
Raw agricultural goods $191K
Machinery & equipment $134K
Chemicals & pharma $78K

Balance of trade

Malaysia Togo
Current account balance
$7.15B
2024
-$20.7M
2020
Current account balance ranking
26/190
2024
79/190
2020
Current account balance, % of GDP
+1.69%
2024
-0.28%
2020
Goods imports
$223B
2024
$1.95B
2020
Goods exports
$248B
2024
$1.21B
2020
Service imports
$56.4B
2024
$438M
2020
Service exports
$53.4B
2024
$514M
2020
Imports of goods and services, % of GDP
66%
2024
38.1%
2024
Exports of goods and services, % of GDP
71.3%
2024
24.4%
2024

Economic freedom indices

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

Malaysia Togo
Economic freedom 68 51.6
Economic freedom ranking 51/197 153/197
Property rights 62.7 43.6
Government integrity 52.9 33.3
Judicial effectiveness 63.4 34
Tax burden 83.5 68.9
Government spending 82 79.2
Fiscal health 62.5 9.6
Business freedom 79.6 60.1
Labor freedom 55.4 51.9
Monetary freedom 80.8 72.5
Trade freedom 83 65.8
Investment freedom 60 60
Financial freedom 50 40

Economic freedom comparison by year

Malaysia
Togo
1x
Year Economic freedom index
Malaysia Togo
2026 68 51.6
2025 67.1 52.3
2024 65.7 50.9
2023 67.3 55.3
2022 68.1 57.2
2021 74.4 57.5
2020 74.7 54.1
2019 74 50.3
2018 74.5 47.8
2017 73.8 53.2
2016 71.5 53.6
2015 70.8 53
2014 69.6 49.9
2013 66.1 48.8
2012 66.4 48.3
2011 66.3 49.1
2010 64.8 47.1
2009 64.6 48.7
2008 63.9 48.9
2007 63.8 49.7
2006 61.6 47.3
2005 61.9 48.2
2004 59.9 47
2003 61.1 46.8
2002 60.1 45.2
2001 60.2 45.3
2000 66 46.4
1999 68.9 48.2
1998 68.2 -
1997 66.8 -
1996 69.9 -
1995 71.9 -

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

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

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 51.6 for Togo, ranking 153/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Togo
Services, % of GDP
53.7%
2024
49.2%
2024
Industry, % of GDP
37%
2024
20.4%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
21.3%
2024
GNI, Atlas method
$414B
2024
$10.3B
2024
GNI per capita, PPP
$37,450
2024
$3,380
2024
Total reserves including gold
$116B
2024
n/a
Total reserves ranking
24/177
2024
n/a
Net foreign direct investment
-$2.55B
2024
-$53.1M
2020
Net inflows of foreign direct investment
$15.6B
2024
$83.8M
2024
Net outflows of foreign direct investment
$13B
2024
-$73.4M
2024
Servicing debt to the IMF, % of GNI n/a
3.21%
2024
Poverty at national poverty lines
5.8%
2023
43.8%
2021
Gross capital formation, % of GDP
22%
2024
20.8%
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/togo | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1989–2004, retrieved 2026-02-20)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.