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Economy of Malaysia vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $51.4B for Turkmenistan, ranking 38/197 and 92/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Malaysia vs Turkmenistan GDP by year

Malaysia
Turkmenistan
1x
Year GDP, current $
Malaysia Turkmenistan
2024 $422,227,005,429 $51,387,209,872
2023 $399,949,418,753 $45,894,538,666
2022 $407,830,525,990 $42,208,726,138
2021 $373,784,553,030 $40,589,905,812
2020 $337,456,163,961 $41,509,903,182
2019 $365,177,721,022 $40,810,067,975
2018 $358,788,845,713 $40,765,428,571
2017 $319,109,094,160 $37,926,285,714
2016 $301,256,033,870 $36,169,428,571
2015 $301,355,266,965 $35,799,714,286
2014 $338,066,095,097 $43,524,210,526
2013 $323,276,235,524 $39,197,543,860
2012 $314,443,047,642 $35,164,210,526
2011 $297,951,668,675 $29,233,333,333
2010 $255,017,638,456 $22,583,157,895
2009 $202,257,453,037 $20,214,385,965
2008 $230,811,614,370 $19,271,523,179
2007 $193,549,569,478 $12,664,165,103
2006 $162,692,258,307 $10,276,674,365
2005 $143,534,405,819 $8,103,901,996
2004 $124,749,473,684 $6,838,351,088
2003 $110,202,368,421 $5,977,440,583
2002 $100,845,526,316 $4,462,029,109
2001 $92,783,947,368 $3,534,772,732
2000 $93,789,736,842 $2,904,663,311
1999 $79,148,421,053 $2,450,564,100
1998 $72,167,498,981 $2,605,689,134
1997 $100,005,323,302 $2,450,350,625
1996 $100,855,393,910 $2,378,759,975
1995 $88,705,342,903 $2,482,228,440
1994 $74,478,356,958 $2,561,118,608
1993 $66,894,966,969 $3,179,225,949
1992 $59,167,550,163 $3,200,539,816
1991 $49,143,148,094 $3,208,098,919
1990 $44,024,585,240 $3,189,539,641
1989 $38,847,965,293 $3,006,988,217
1988 $35,272,109,220 $3,010,982,414
1987 $32,181,210,158 $2,331,358,820
1986 $27,734,111,400 -
1985 $31,199,633,353 -
1984 $33,942,897,422 -
1983 $30,347,442,111 -
1982 $26,804,493,635 -
1981 $25,004,285,792 -
1980 $24,488,224,677 -
1979 $21,213,264,962 -
1978 $16,358,079,862 -
1977 $13,139,488,633 -
1976 $11,050,234,599 -
1975 $9,298,800,799 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Malaysia vs Turkmenistan by year

Malaysia
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $6,857 $21,213
2023 $11,386 $36,467 $6,232 $19,829
2022 $11,755 $34,420 $5,838 $18,340
2021 $10,903 $29,823 $5,723 $16,434
2020 $9,958 $27,475 $5,973 $15,091
2019 $10,920 $28,934 $5,998 $15,478
2018 $10,902 $27,794 $6,125 $14,368
2017 $9,863 $26,416 $5,828 $13,278
2016 $9,477 $25,286 $5,687 $12,919
2015 $9,649 $24,526 $5,759 $12,715
2014 $11,013 $24,307 $7,164 $12,477
2013 $10,714 $23,161 $6,600 $11,723
2012 $10,601 $22,639 $6,054 $11,035
2011 $10,217 $21,324 $5,144 $10,283
2010 $8,899 $20,193 $4,059 $8,972
2009 $7,191 $18,923 $3,708 $8,285
2008 $8,372 $19,480 $3,606 $7,916
2007 $7,169 $18,617 $2,415 $6,901
2006 $6,158 $17,426 $1,997 $6,164
2005 $5,556 $16,371 $1,604 $5,489
2004 $4,939 $15,416 $1,379 $4,798
2003 $4,465 $14,387 $1,229 $4,536
2002 $4,184 $13,656 $936 $4,393
2001 $3,944 $13,072 $756 $4,401
2000 $4,084 $13,027 $634 $4,209
1999 $3,528 $11,980 $546 $3,981
1998 $3,294 $11,398 $591 $3,432
1997 $4,679 $12,469 $565 $3,222
1996 $4,837 $11,709 $558 $3,636
1995 $4,363 $10,720 $592 $3,405
1994 $3,758 $9,806 $622 $3,659
1993 $3,462 $9,018 $788 $4,422
1992 $3,141 $8,224 $811 $4,351
1991 $2,679 $7,583 $832 $5,117
1990 $2,469 $6,887 $848 $5,321
1989 $2,244 - $821 -
1988 $2,100 - $846 -
1987 $1,977 - $675 -
1986 $1,760 - - -
1985 $2,046 - - -
1984 $2,300 - - -
1983 $2,124 - - -
1982 $1,938 - - -
1981 $1,866 - - -
1980 $1,886 - - -
1979 $1,680 - - -
1978 $1,327 - - -
1977 $1,092 - - -
1976 $940 - - -
1975 $811 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Malaysia Turkmenistan
Gross domestic product
$422B
2024
$51.4B
2024
GDP rank
38/197
2024
92/197
2024
GDP growth
5.11%
2023-2024
6.3%
2023-2024
GDP per capita
$11,874
2024
$6,857
2024
GDP per capita rank
79/197
2024
104/197
2024
GDP per capita, PPP
$38,779
2024
$21,213
2024
GDP per capita PPP rank
60/197
2024
94/197
2024
Government debt
$296B
2024
$2.11B
2024
Debt-to-GDP ratio
70.1%
2024
4.11%
2024
Government debt per person
$8,322
2024
$282
2024
Government debt per person rank
62/185
2024
179/185
2024
Average annual personal income after taxes
$11,005
2026
$7,520
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
31.5%
1998
Income share by poorest 10%
2.3%
2021
2.4%
1998
Government expenditure, % of GDP
23.9%
2024
14.5%
2024
Consumer prices inflation
1.83%
2023-2024
4.6%
2023-2024
Central bank interest rate
2.75%
2025
n/a
Unemployment rate
3.93%
2022
4%
2010
Population
36512221
7776557

Spending and national debt comparison by year

Malaysia
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Malaysia Turkmenistan
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 14.5% 4.11%
2023 24.9% 69.7% 13.7% 5.46%
2022 24.6% 65.5% 13% 7.14%
2021 24.5% 69.2% 13.4% 12.3%
2020 25% 67.7% 13.5% 15.4%
2019 23.6% 57.1% 13.6% 17.7%
2018 22.8% 55.6% 13.7% 22.5%
2017 22% 54.4% 17.8% 24.7%
2016 22.9% 55.8% 14.1% 21.1%
2015 24.7% 57% 17.3% 19%
2014 26% 55.4% 17% 16%
2013 27.8% 55.7% 16.9% 20.4%
2012 28.5% 53.8% 14.7% 17.9%
2011 27.1% 51.9% 15.4% 14.8%
2010 26.6% 51.2% 14.6% 7.04%
2009 30.9% 50.4% 14.4% 3.09%
2008 26.9% 39.4% 11.7% 3.56%
2007 25.9% 39.3% 14.4% 3.06%
2006 25.6% 39.7% 16% 4.23%
2005 24.5% 40.8% 21.1% 6.82%
2004 25.9% 42% 20.3% 11.4%
2003 28.1% 41.4% 20.8% 16.9%
2002 27.1% 39.5% 19.4% 24.2%
2001 28.2% 38.1% 22.6% 34.1%
2000 25.6% 32.5% 25.9% 55.1%
1999 24.6% 34.4% 20.8% 66.7%
1998 23.1% 33.6% 26.1% 81.6%
1997 21.2% 29.6% 26.9% 64.2%
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 (1990–2024, retrieved 2026-02-20).

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

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 4.11% in Turkmenistan, ranking 58/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Malaysia Turkmenistan
2024 -3.95% -0.08%
2023 -3.97% 0.11%
2022 -4.56% 3.38%
2021 -6.03% 0.57%
2020 -4.9% -0.16%
2019 -2.01% -0.4%
2018 -2.64% -0.22%
2017 -2.41% -2.84%
2016 -2.6% -2.38%
2015 -2.55% -0.7%
2014 -2.63% 0.89%
2013 -3.48% 1.53%
2012 -3.1% 7.53%
2011 -3.57% 3.84%
2010 -4.32% 2.13%
2009 -5.88% 7.53%
2008 -3.4% 10.7%
2007 -2.57% 4.19%
2006 -2.6% 5.64%
2005 -2.83% 0.86%
2004 -3.35% 1.47%
2003 -4.6% 3.99%
2002 -3.96% 0.19%
2001 -4.36% 0.77%
2000 -6.05% -0.55%
1999 -3% 2.48%
1998 -0.63% 1.15%
1997 4.84% -0.2%
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 (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malaysia/turkmenistan | 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 Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, Malaysia recorded a fiscal deficit in 27 of those years, while Turkmenistan ran a deficit in 9 years. On average, Malaysia posted an annual deficit equal to 3.25% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Malaysia

Turkmenistan
1x
Year Consumer prices inflation
Malaysia Turkmenistan
2024 1.83% 4.6%
2023 2.49% -1.6%
2022 3.38% 11.2%
2021 2.48% 19.5%
2020 -1.14% 6.1%
2019 0.66% 5.1%
2018 0.88% 13.3%
2017 3.87% 8%
2016 2.09% 3.6%
2015 2.1% 7.4%
2014 3.14% 6%
2013 2.11% 6.8%
2012 1.66% 5.3%
2011 3.17% 5.3%
2010 1.62% 4.4%
2009 0.58% -2.7%
2008 5.44% 14.5%
2007 2.03% 6.3%
2006 3.61% 8.2%
2005 2.98% 10.7%
2004 1.42% 5.9%
2003 1.09% 5.6%
2002 1.81% 8.8%
2001 1.42% 11.6%
2000 1.53% 8%
1999 2.74% 23.5%
1998 5.27% 16.8%
1997 2.66% 83.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 10.9% in Turkmenistan. In 2024, inflation was 1.83% in Malaysia and 4.6% in Turkmenistan.

Top exports between countries

Malaysia
Export category Export value
Processed food, beverages & tobacco $12.6M
Chemicals & pharma $1.57M
Machinery & equipment $1.48M
Metals $365K
Raw materials & minerals $81K
Textiles & consumer goods $71K
Wood & paper products $6K
Precious metals & jewellery $1K
Turkmenistan
Export category Export value
Machinery & equipment $132K
Miscellaneous $19K
Textiles & consumer goods $16K

Balance of trade

Malaysia Turkmenistan
Current account balance
$7.15B
2024
n/a
Current account balance ranking
26/190
2024
n/a
Current account balance, % of GDP
+1.69%
2024
n/a
Goods imports
$223B
2024
n/a
Goods exports
$248B
2024
n/a
Service imports
$56.4B
2024
n/a
Service exports
$53.4B
2024
n/a
Imports of goods and services, % of GDP
66%
2024
11.2%
2024
Exports of goods and services, % of GDP
71.3%
2024
17.6%
2024

Economic freedom indices

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

Malaysia Turkmenistan
Economic freedom 68 47
Economic freedom ranking 51/197 177/197
Property rights 62.7 17.4
Government integrity 52.9 8.4
Judicial effectiveness 63.4 12.3
Tax burden 83.5 94.2
Government spending 82 94.3
Fiscal health 62.5 99.9
Business freedom 79.6 37.5
Labor freedom 55.4 29.3
Monetary freedom 80.8 76.7
Trade freedom 83 74.2
Investment freedom 60 10
Financial freedom 50 10

Economic freedom comparison by year

Malaysia
Turkmenistan
1x
Year Economic freedom index
Malaysia Turkmenistan
2026 68 47
2025 67.1 47.1
2024 65.7 46.3
2023 67.3 46.5
2022 68.1 46.2
2021 74.4 47.4
2020 74.7 46.5
2019 74 48.4
2018 74.5 47.1
2017 73.8 47.4
2016 71.5 41.9
2015 70.8 41.4
2014 69.6 42.2
2013 66.1 42.6
2012 66.4 43.8
2011 66.3 43.6
2010 64.8 42.5
2009 64.6 44.2
2008 63.9 43.4
2007 63.8 43
2006 61.6 43.8
2005 61.9 47.6
2004 59.9 50.7
2003 61.1 51.3
2002 60.1 43.2
2001 60.2 41.8
2000 66 37.6
1999 68.9 36.1
1998 68.2 35
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/turkmenistan | CC BY

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Turkmenistan
Services, % of GDP
53.7%
2024
50.4%
2024
Industry, % of GDP
37%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
12.2%
2024
GNI, Atlas method
$414B
2024
$48.8B
2024
GNI per capita, PPP
$37,450
2024
$21,020
2024
Total reserves including gold
$116B
2024
$1.51B
1999
Total reserves ranking
24/177
2024
135/177
1999
Net foreign direct investment
-$2.55B
2024
n/a
Net inflows of foreign direct investment
$15.6B
2024
$1.64B
2024
Net outflows of foreign direct investment
$13B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.91%
2024
Poverty at national poverty lines
5.8%
2023
0.2%
2020
Gross capital formation, % of GDP
22%
2024
47.2%
2012

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/turkmenistan | 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)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.