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Economy of Malaysia vs Tonga compared: GDP & Debt

Updated on by Georank

Malaysia has a GDP of $472B compared to $679M for Tonga, ranking 35/197 and 191/197 by economy size, respectively.

Malaysia has $334B in government debt (70.7% of GDP), compared to $186M (27.4% of GDP) in Tonga.

Malaysia vs Tonga GDP by year

Malaysia
Tonga
1x
Year GDP, current $
Malaysia Tonga
2025 $472,193,128,645 $679,218,219
2024 $422,227,005,429 $647,488,244
2023 $399,949,418,753 $591,139,734
2022 $407,830,525,990 $556,514,556
2021 $373,784,553,030 $519,306,339
2020 $337,456,163,961 $506,571,487
2019 $365,177,721,022 $506,031,248
2018 $358,788,845,713 $493,530,767
2017 $319,109,094,160 $459,976,847
2016 $301,256,033,870 $420,828,255
2015 $301,355,266,965 $437,525,539
2014 $338,066,095,097 $440,997,735
2013 $323,276,235,524 $451,788,498
2012 $314,443,047,642 $471,122,971
2011 $297,951,668,675 $414,143,828
2010 $255,017,638,456 $366,887,375
2009 $202,257,453,037 $312,415,028
2008 $230,811,614,370 $344,438,844
2007 $193,549,569,478 $298,519,623
2006 $162,692,258,307 $292,232,703
2005 $143,534,405,819 $261,823,805
2004 $124,749,473,684 $230,678,011
2003 $110,202,368,421 $202,246,591
2002 $100,845,526,316 $182,764,281
2001 $92,783,947,368 $181,117,230
2000 $93,789,736,842 $204,848,488
1999 $79,148,421,053 $199,208,718
1998 $72,167,498,981 $191,504,893
1997 $100,005,323,302 $214,991,452
1996 $100,855,393,910 $222,100,576
1995 $88,705,342,903 $208,871,666
1994 $74,478,356,958 $195,990,986
1993 $66,894,966,969 $138,489,884
1992 $59,167,550,163 $137,066,291
1991 $49,143,148,094 $132,201,141
1990 $44,024,585,240 $113,563,822
1989 $38,847,965,293 $106,344,855
1988 $35,272,109,220 $106,657,267
1987 $32,181,210,158 $81,667,133
1986 $27,734,111,400 $68,195,856
1985 $31,199,633,353 $60,058,663
1984 $33,942,897,422 $64,248,355
1983 $30,347,442,111 $60,863,964
1982 $26,804,493,635 $62,068,161
1981 $25,004,285,792 $62,242,013
1980 $24,488,224,677 $53,260,077
1979 $21,213,264,962 $44,667,002
1978 $16,358,079,862 $41,567,472
1977 $13,139,488,633 $34,139,388
1976 $11,050,234,599 $30,036,417
1975 $9,298,800,799 $32,506,742
1974 $9,496,204,302 -
1973 $7,662,902,678 -
1972 $5,043,347,250 -
1971 $4,244,395,956 -
1970 $3,864,145,667 -
1969 $3,664,552,041 -
1968 $3,330,371,551 -
1967 $3,188,924,677 -
1966 $3,143,517,944 -
1965 $2,956,337,669 -
1964 $2,674,423,922 -
1963 $2,510,110,348 -
1962 $2,001,489,602 -
1961 $1,901,856,123 -
1960 $1,916,229,477 -

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

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

GDP per capita in Malaysia vs Tonga by year

Malaysia
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,125 - $6,547 -
2024 $11,874 $38,779 $6,215 -
2023 $11,386 $36,467 $5,652 $7,803
2022 $11,755 $34,420 $5,298 $7,296
2021 $10,903 $29,823 $4,923 $6,929
2020 $9,958 $27,475 $4,792 $6,676
2019 $10,920 $28,934 $4,789 $6,473
2018 $10,902 $27,794 $4,675 $6,393
2017 $9,863 $26,416 $4,366 $6,229
2016 $9,477 $25,286 $3,988 $5,920
2015 $9,649 $24,526 $4,124 $5,472
2014 $11,013 $24,307 $4,137 $5,336
2013 $10,714 $23,161 $4,219 $5,120
2012 $10,601 $22,639 $4,384 $4,996
2011 $10,217 $21,324 $3,850 $4,855
2010 $8,899 $20,193 $3,416 $4,465
2009 $7,191 $18,923 $2,914 $4,384
2008 $8,372 $19,480 $3,218 $4,600
2007 $7,169 $18,617 $2,797 $4,316
2006 $6,158 $17,426 $2,750 $4,327
2005 $5,556 $16,371 $2,478 $4,315
2004 $4,939 $15,416 $2,195 $4,235
2003 $4,465 $14,387 $1,936 $4,231
2002 $4,184 $13,656 $1,759 $4,171
2001 $3,944 $13,072 $1,754 $3,955
2000 $4,084 $13,027 $1,995 $3,834
1999 $3,528 $11,980 $1,952 $3,636
1998 $3,294 $11,398 $1,889 $3,527
1997 $4,679 $12,469 $2,136 $3,434
1996 $4,837 $11,709 $2,215 $3,410
1995 $4,363 $10,720 $2,084 $3,347
1994 $3,758 $9,806 $1,957 $3,088
1993 $3,462 $9,018 $1,383 $2,882
1992 $3,141 $8,224 $1,370 $2,716
1991 $2,679 $7,583 $1,323 $2,652
1990 $2,469 $6,887 $1,139 $2,416
1989 $2,244 - $1,070 -
1988 $2,100 - $1,078 -
1987 $1,977 - $830 -
1986 $1,760 - $696 -
1985 $2,046 - $613 -
1984 $2,300 - $656 -
1983 $2,124 - $621 -
1982 $1,938 - $633 -
1981 $1,866 - $636 -
1980 $1,886 - $545 -
1979 $1,680 - $458 -
1978 $1,327 - $428 -
1977 $1,092 - $353 -
1976 $940 - $315 -
1975 $811 - $349 -
1974 $848 - - -
1973 $701 - - -
1972 $472 - - -
1971 $407 - - -
1970 $380 - - -
1969 $368 - - -
1968 $342 - - -
1967 $335 - - -
1966 $339 - - -
1965 $326 - - -
1964 $303 - - -
1963 $291.8 - - -
1962 $238.8 - - -
1961 $232.9 - - -
1960 $240.8 - - -

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

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

Malaysia's GDP per capita is $13,125, ranking 78/197, compared to $6,547 in Tonga, ranking 110/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Tonga ranks 144th at $7,803.

Economic indicators

Malaysia Tonga
Gross domestic product
$472B
2025
$679M
2025
GDP rank
35/197
2025
191/197
2025
GDP growth
5.17%
2024-2025
2.8%
2024-2025
GDP per capita
$13,125
2025
$6,547
2025
GDP per capita rank
78/197
2025
110/197
2025
GDP per capita, PPP
$38,779
2024
$7,803
2023
GDP per capita PPP rank
60/197
2024
144/197
2023
Government debt
$334B
2025
$186M
2025
Debt-to-GDP ratio
70.7%
2025
27.4%
2025
Government debt per person
$9,273
2025
$1,793
2025
Government debt per person rank
62/185
2025
123/185
2025
Average annual personal income after taxes
$11,034
2026
$4,104
2026
Market capitalization of domestic companies
$487B
2025
n/a
Number of billionaires
19
2026
n/a
Income share by richest 10%
30.9%
2021
22%
2021
Income share by poorest 10%
2.3%
2021
4%
2021
Government expenditure, % of GDP
23.4%
2025
46.8%
2025
Consumer prices inflation
1.38%
2024-2025
5.59%
2024-2025
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.9%
2022
1.65%
2023
Population
36600906
103283

Spending and national debt comparison by year

Malaysia
Spending

Debt
Tonga
Spending

Debt
1x
Year % of GDP
Malaysia Tonga
Government spending Government debt Government spending Government debt
2025 23.4% 70.7% 46.8% 27.4%
2024 24% 69.8% 44.3% 31.9%
2023 25% 69.7% 41.5% 37.2%
2022 24.6% 65.5% 41.3% 40.2%
2021 24.5% 69.2% 44.5% 43%
2020 25% 67.7% 37.1% 41.7%
2019 23.6% 57.1% 39% 41.8%
2018 22.8% 55.6% 39.3% 45.5%
2017 22% 54.4% 39.7% 44.7%
2016 22.9% 55.8% 37.2% 49.4%
2015 24.7% 57% 37.4% 51.1%
2014 26% 55.4% 31.5% 47.4%
2013 27.8% 55.7% 34.3% 48.9%
2012 28.5% 53.8% 32% 60%
2011 27.1% 51.9% 32.6% 51.9%
2010 26.6% 51.2% 28.4% 44.7%
2009 30.9% 50.4% 23.9% 39.7%
2008 26.9% 39.4% 24% 34%
2007 25.9% 39.3% 23.2% 37.8%
2006 25.6% 39.7% 25.6% 39.6%
2005 24.5% 40.8% 19.8% 43.3%
2004 25.9% 42% 19.3% 52.2%
2003 28.1% 41.4% 20% 56.2%
2002 27.1% 39.5% 21.3% 60.7%
2001 28.2% 38.1% 19.1% 53.4%
2000 25.6% 32.5% 20% 43.6%
1999 24.6% 34.4% 18.8% 38.4%
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 (1990–2025, retrieved 2026-07-08).

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

In 2025, Malaysia's government spending was $111B, accounting for 23.4% of its GDP, while Tonga spent $318M, or 46.8% of GDP.

Debt-to-GDP ratio is 70.7% in Malaysia and 27.4% in Tonga, ranking 56/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Tonga
1x
Year Deficit/surplus, % of GDP
Malaysia Tonga
2025 -3.54% 4.86%
2024 -3.45% 3.6%
2023 -4.11% 5.28%
2022 -4.56% -0.09%
2021 -6.03% -0.87%
2020 -4.9% 5.15%
2019 -2.01% 3.2%
2018 -2.64% 2.9%
2017 -2.41% 3.58%
2016 -2.6% 1.47%
2015 -2.55% -2.75%
2014 -2.63% 6.38%
2013 -3.48% -1.3%
2012 -3.1% -1.74%
2011 -3.57% -6.02%
2010 -4.32% -1.22%
2009 -5.88% 6.85%
2008 -3.4% 2.14%
2007 -2.57% 5.39%
2006 -2.6% 1.34%
2005 -2.83% 4.23%
2004 -3.35% 4.23%
2003 -4.6% 2.37%
2002 -3.96% 2.59%
2001 -4.36% 2.23%
2000 -6.05% 1.35%
1999 -3% 1.55%
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 (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/malaysia/tonga | 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 Tonga's surplus of $33M, or 4.86% of GDP.

Over the past 27 years, Malaysia recorded a fiscal deficit in 27 of those years, while Tonga ran a deficit in 7 years. On average, Malaysia posted an annual deficit equal to 3.65% of GDP, compared to surplus of 2.1% of GDP for Tonga.

Inflation comparison by year

Inflation
Malaysia

Tonga
1x
Year Consumer prices inflation
Malaysia Tonga
2025 1.38% 5.59%
2024 1.83% 3.18%
2023 2.49% 6.35%
2022 3.38% 11%
2021 2.48% 5.64%
2020 -1.14% -0.35%
2019 0.66% 1.18%
2018 0.88% 5.03%
2017 3.87% 7.52%
2016 2.09% 2.58%
2015 2.1% -1.05%
2014 3.14% 2.51%
2013 2.11% 0.78%
2012 1.66% 1.15%
2011 3.17% 6.27%
2010 1.62% 3.53%
2009 0.58% 1.43%
2008 5.44% 10.4%
2007 2.03% 5.84%
2006 3.61% 6.15%
2005 2.98% 8.67%
2004 1.42% 11%
2003 1.09% 11.6%
2002 1.81% 10.4%
2001 1.42% 8.29%
2000 1.53% 6.33%
1999 2.74% 4.46%
1998 5.27% 3.27%
1997 2.66% 2.12%

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

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

Over the past 29 years, Malaysia has recorded an average annual inflation rate of 2.22%, compared with 5.2% in Tonga. In 2025, inflation was 1.38% in Malaysia and 5.59% in Tonga.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $4.56M
Processed food, beverages & tobacco $1.6M
Raw materials & minerals $988K
Chemicals & pharma $458K
Wood & paper products $239K
Metals $151K
Textiles & consumer goods $110K
Miscellaneous $106K
Animal & marine products $5K
Tonga
Export category Export value
Animal & marine products $330K
Metals $109K
Machinery & equipment $18K
Precious metals & jewellery $1K

Balance of trade

Malaysia Tonga
Current account balance
$7.15B
2024
-$43.5M
2024
Current account balance ranking
29/190
2024
76/190
2024
Current account balance, % of GDP
+1.69%
2024
-6.72%
2024
Goods imports
$223B
2024
$232M
2024
Goods exports
$248B
2024
$10.8M
2024
Service imports
$56.4B
2024
$161M
2024
Service exports
$53.4B
2024
$93.6M
2024
Imports of goods and services, % of GDP
65.4%
2025
60.7%
2024
Exports of goods and services, % of GDP
71%
2025
16.9%
2024

Economic freedom indices

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

Malaysia Tonga
Economic freedom 68 58.9
Economic freedom ranking 51/197 107/197
Property rights 62.7 71.1
Government integrity 52.9 45.1
Judicial effectiveness 63.4 64.9
Tax burden 83.5 85.6
Government spending 82 31
Fiscal health 62.5 97.3
Business freedom 79.6 59.2
Labor freedom 55.4 55.9
Monetary freedom 80.8 61
Trade freedom 83 75.4
Investment freedom 60 40
Financial freedom 50 20

Economic freedom comparison by year

Malaysia
Tonga
1x
Year Economic freedom index
Malaysia Tonga
2026 68 58.9
2025 67.1 58.5
2024 65.7 59.2
2023 67.3 60
2022 68.1 60.8
2021 74.4 57.5
2020 74.7 58.8
2019 74 57.7
2018 74.5 63.1
2017 73.8 63
2016 71.5 59.6
2015 70.8 59.3
2014 69.6 58.2
2013 66.1 56
2012 66.4 57
2011 66.3 55.8
2010 64.8 53.4
2009 64.6 54.1
2008 63.9 -
2007 63.8 -
2006 61.6 -
2005 61.9 -
2004 59.9 -
2003 61.1 -
2002 60.1 -
2001 60.2 -
2000 66 -
1999 68.9 -
1998 68.2 -
1997 66.8 -
1996 69.9 -
1995 71.9 -

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

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

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 58.9 for Tonga, ranking 107/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Tonga
Services, % of GDP
54.8%
2025
49.5%
2024
Industry, % of GDP
35.7%
2025
17.7%
2024
Agriculture, forestry, and fishing, % of GDP
8.22%
2025
18.6%
2024
GNI, Atlas method
$445B
2025
$709M
2025
GNI per capita, PPP
$40,070
2025
$9,240
2025
Total reserves including gold
$126B
2025
$413M
2025
Total reserves ranking
25/177
2025
162/177
2025
Net foreign direct investment
-$2.55B
2024
$13.3M
2024
Net inflows of foreign direct investment
$15.6B
2024
-$12.1M
2024
Net outflows of foreign direct investment
$13B
2024
$1.25M
2024
Servicing debt to the IMF, % of GNI n/a
6.33%
2024
Poverty at national poverty lines
5.1%
2023
20.6%
2021
Gross capital formation, % of GDP
20.5%
2025
26.4%
2024

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/tonga | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2020–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, 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.

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.