Skip to content

Economy of Malaysia vs Zambia compared: GDP & Debt

Updated on by Georank team

Malaysia has a GDP of $422B compared to $25.3B for Zambia, ranking 38/197 and 116/197 by economy size, respectively.

Malaysia has $296B in government debt (70.1% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Malaysia vs Zambia GDP by year

Malaysia
Zambia
1x
Year GDP, current $
Malaysia Zambia
2024 $422,227,005,429 $25,303,185,342
2023 $399,949,418,753 $27,577,956,471
2022 $407,830,525,990 $29,163,782,140
2021 $373,784,553,030 $22,096,416,932
2020 $337,456,163,961 $18,137,764,931
2019 $365,177,721,022 $23,308,667,781
2018 $358,788,845,713 $26,311,507,274
2017 $319,109,094,160 $25,873,601,261
2016 $301,256,033,870 $20,958,412,538
2015 $301,355,266,965 $21,251,216,799
2014 $338,066,095,097 $27,141,023,558
2013 $323,276,235,524 $28,037,239,463
2012 $314,443,047,642 $25,503,060,420
2011 $297,951,668,675 $23,459,515,276
2010 $255,017,638,456 $20,265,559,484
2009 $202,257,453,037 $15,328,342,304
2008 $230,811,614,370 $17,910,858,638
2007 $193,549,569,478 $14,056,957,976
2006 $162,692,258,307 $12,756,858,899
2005 $143,534,405,819 $8,331,870,169
2004 $124,749,473,684 $6,221,110,219
2003 $110,202,368,421 $4,901,869,764
2002 $100,845,526,316 $4,193,850,445
2001 $92,783,947,368 $4,094,441,301
2000 $93,789,736,842 $3,600,632,111
1999 $79,148,421,053 $3,404,284,891
1998 $72,167,498,981 $3,537,741,942
1997 $100,005,323,302 $4,303,288,480
1996 $100,855,393,910 $3,597,220,962
1995 $88,705,342,903 $3,806,983,413
1994 $74,478,356,958 $3,656,806,166
1993 $66,894,966,969 $3,273,505,344
1992 $59,167,550,163 $3,182,810,841
1991 $49,143,148,094 $3,376,806,697
1990 $44,024,585,240 $3,288,381,797
1989 $38,847,965,293 $3,994,673,161
1988 $35,272,109,220 $3,728,878,149
1987 $32,181,210,158 $2,265,250,972
1986 $27,734,111,400 $1,664,413,508
1985 $31,199,633,353 $2,252,454,500
1984 $33,942,897,422 $2,719,518,933
1983 $30,347,442,111 $3,321,048,451
1982 $26,804,493,635 $3,871,117,093
1981 $25,004,285,792 $4,008,126,497
1980 $24,488,224,677 $3,884,530,854
1979 $21,213,264,962 $3,353,445,378
1978 $16,358,079,862 $2,811,032,473
1977 $13,139,488,633 $2,515,296,940
1976 $11,050,234,599 $2,742,859,263
1975 $9,298,800,799 $2,442,672,141
1974 $9,496,204,302 $2,910,981,262
1973 $7,662,902,678 $2,434,255,237
1972 $5,043,347,250 $1,872,416,680
1971 $4,244,395,956 $1,653,259,341
1970 $3,864,145,667 $1,788,779,285
1969 $3,664,552,041 $1,926,399,230
1968 $3,330,371,551 $1,573,739,371
1967 $3,188,924,677 $1,340,639,464
1966 $3,143,517,944 $1,238,999,505
1965 $2,956,337,669 $1,061,199,576
1964 $2,674,423,922 $822,639,671
1963 $2,510,110,348 $704,339,719
1962 $2,001,489,602 $679,279,729
1961 $1,901,856,123 $682,359,727
1960 $1,916,229,477 $698,739,721

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

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

GDP per capita in Malaysia vs Zambia by year

Malaysia
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Malaysia Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,874 $38,779 $1,187 $4,215
2023 $11,386 $36,467 $1,331 $4,077
2022 $11,755 $34,420 $1,447 $3,841
2021 $10,903 $29,823 $1,127 $3,503
2020 $9,958 $27,475 $952 $3,157
2019 $10,920 $28,934 $1,259 $3,361
2018 $10,902 $27,794 $1,464 $3,442
2017 $9,863 $26,416 $1,483 $3,392
2016 $9,477 $25,286 $1,239 $3,313
2015 $9,649 $24,526 $1,296 $3,337
2014 $11,013 $24,307 $1,707 $3,441
2013 $10,714 $23,161 $1,821 $3,477
2012 $10,601 $22,639 $1,710 $3,324
2011 $10,217 $21,324 $1,625 $3,228
2010 $8,899 $20,193 $1,451 $3,098
2009 $7,191 $18,923 $1,136 $2,872
2008 $8,372 $19,480 $1,376 $2,708
2007 $7,169 $18,617 $1,119 $2,555
2006 $6,158 $17,426 $1,052 $2,378
2005 $5,556 $16,371 $711 $2,213
2004 $4,939 $15,416 $549 $2,068
2003 $4,465 $14,387 $446 $1,942
2002 $4,184 $13,656 $394 $1,837
2001 $3,944 $13,072 $397 $1,785
2000 $4,084 $13,027 $359 $1,709
1999 $3,528 $11,980 $350 $1,654
1998 $3,294 $11,398 $373 $1,601
1997 $4,679 $12,469 $466 $1,631
1996 $4,837 $11,709 $400 $1,585
1995 $4,363 $10,720 $433 $1,501
1994 $3,758 $9,806 $426 $1,464
1993 $3,462 $9,018 $391 $1,607
1992 $3,141 $8,224 $389 $1,505
1991 $2,679 $7,583 $423 $1,534
1990 $2,469 $6,887 $422 $1,522
1989 $2,244 - $526 -
1988 $2,100 - $504 -
1987 $1,977 - $315 -
1986 $1,760 - $238.2 -
1985 $2,046 - $332 -
1984 $2,300 - $413 -
1983 $2,124 - $520 -
1982 $1,938 - $627 -
1981 $1,866 - $670 -
1980 $1,886 - $669 -
1979 $1,680 - $595 -
1978 $1,327 - $514 -
1977 $1,092 - $474 -
1976 $940 - $533 -
1975 $811 - $490 -
1974 $848 - $601 -
1973 $701 - $518 -
1972 $472 - $410 -
1971 $407 - $372 -
1970 $380 - $414 -
1969 $368 - $459 -
1968 $342 - $387 -
1967 $335 - $341 -
1966 $339 - $325 -
1965 $326 - $287.4 -
1964 $303 - $230 -
1963 $291.8 - $203.2 -
1962 $238.8 - $202.3 -
1961 $232.9 - $209.7 -
1960 $240.8 - $221.6 -

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

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

Malaysia's GDP per capita is $11,874, ranking 79/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Malaysia ranks 60th at $38,779, while Zambia ranks 166th at $4,215.

Economic indicators

Malaysia Zambia
Gross domestic product
$422B
2024
$25.3B
2024
GDP rank
38/197
2024
116/197
2024
GDP growth
5.11%
2023-2024
3.82%
2023-2024
GDP per capita
$11,874
2024
$1,187
2024
GDP per capita rank
79/197
2024
169/197
2024
GDP per capita, PPP
$38,779
2024
$4,215
2024
GDP per capita PPP rank
60/197
2024
166/197
2024
Government debt
$296B
2024
$29.1B
2024
Debt-to-GDP ratio
70.1%
2024
114.9%
2024
Government debt per person
$8,322
2024
$1,365
2024
Government debt per person rank
62/185
2024
134/185
2024
Average annual personal income after taxes
$11,005
2026
$1,349
2026
Market capitalization of domestic companies
$449B
2024
$7.77B
2024
Number of billionaires
19
2025
n/a
Income share by richest 10%
30.9%
2021
39.1%
2022
Income share by poorest 10%
2.3%
2021
1.5%
2022
Government expenditure, % of GDP
23.9%
2024
25.5%
2024
Consumer prices inflation
1.83%
2023-2024
15%
2023-2024
Central bank interest rate
2.75%
2025
14.3%
2025
Unemployment rate
3.93%
2022
5.86%
2023
Population
36512221
22697916

Spending and national debt comparison by year

Malaysia
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Malaysia Zambia
Government spending Government debt Government spending Government debt
2024 23.9% 70.1% 25.5% 114.9%
2023 24.9% 69.7% 27.4% 129.1%
2022 24.6% 65.5% 28.2% 99.5%
2021 24.5% 69.2% 30.5% 111%
2020 25% 67.7% 34% 140%
2019 23.6% 57.1% 29.8% 103.3%
2018 22.8% 55.6% 27.7% 81.2%
2017 22% 54.4% 25% 66.6%
2016 22.9% 55.8% 23.9% 61.2%
2015 24.7% 57% 27.6% 61.9%
2014 26% 55.4% 24.3% 33.9%
2013 27.8% 55.7% 24% 25.9%
2012 28.5% 53.8% 21.9% 24.9%
2011 27.1% 51.9% 19.5% 20.8%
2010 26.6% 51.2% 18.1% 18.9%
2009 30.9% 50.4% 17.8% 20.5%
2008 26.9% 39.4% 19.5% 19.2%
2007 25.9% 39.3% 19.9% 21.9%
2006 25.6% 39.7% 19.7% 25%
2005 24.5% 40.8% 22.5% 75.7%
2004 25.9% 42% 23.3% 129.9%
2003 28.1% 41.4% 27.3% 159.5%
2002 27.1% 39.5% 27.6% 180.2%
2001 28.2% 38.1% 28% 210.2%
2000 25.6% 32.5% 21.4% 261%
1999 24.6% 34.4% - -
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 (1990–2024, retrieved 2026-02-20).

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

In 2024, Malaysia's government spending was $101B, accounting for 23.9% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 70.1% in Malaysia and 114.9% in Zambia, ranking 58/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Malaysia

Zambia
1x
Year Deficit/surplus, % of GDP
Malaysia Zambia
2024 -3.95% -3.32%
2023 -3.97% -5.48%
2022 -4.56% -7.82%
2021 -6.03% -8.13%
2020 -4.9% -13.8%
2019 -2.01% -9.41%
2018 -2.64% -8.31%
2017 -2.41% -7.5%
2016 -2.6% -5.69%
2015 -2.55% -8.88%
2014 -2.63% -5.43%
2013 -3.48% -6.4%
2012 -3.1% -3.16%
2011 -3.57% -1.78%
2010 -4.32% -2.43%
2009 -5.88% -2.06%
2008 -3.4% -0.67%
2007 -2.57% -1.04%
2006 -2.6% 16.9%
2005 -2.83% -2.37%
2004 -3.35% -2.51%
2003 -4.6% -5.31%
2002 -3.96% -4.5%
2001 -4.36% -5.89%
2000 -6.05% 1.16%
1999 -3% -
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 (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/malaysia/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Malaysia recorded a fiscal deficit in 25 of those years, while Zambia ran a deficit in 23 years. On average, Malaysia posted an annual deficit equal to 3.69% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Malaysia

Zambia
1x
Year Consumer prices inflation
Malaysia Zambia
2024 1.83% 15%
2023 2.49% 10.9%
2022 3.38% 11%
2021 2.48% 22%
2020 -1.14% 15.7%
2019 0.66% 9.2%
2018 0.88% 7.5%
2017 3.87% 6.6%
2016 2.09% 17.9%
2015 2.1% 10.1%
2014 3.14% 7.8%
2013 2.11% 7%
2012 1.66% 6.6%
2011 3.17% 8.7%
2010 1.62% 8.5%
2009 0.58% 13.4%
2008 5.44% 12.4%
2007 2.03% 10.7%
2006 3.61% 9%
2005 2.98% 18.3%
2004 1.42% 18%
2003 1.09% 21.4%
2002 1.81% 22.2%
2001 1.42% 21.4%
2000 1.53% 24.1%
1999 2.74% 23.9%
1998 5.27% 22.7%
1997 2.66% 21.4%

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/zambia | CC BY

Over the past 28 years, Malaysia has recorded an average annual inflation rate of 2.25%, compared with 14.4% in Zambia. In 2024, inflation was 1.83% in Malaysia and 15% in Zambia.

Top exports between countries

Malaysia
Export category Export value
Machinery & equipment $4.72M
Textiles & consumer goods $953K
Raw materials & minerals $625K
Chemicals & pharma $536K
Processed food, beverages & tobacco $347K
Wood & paper products $124K
Animal & marine products $17K
Metals $16K
Miscellaneous $14K
Precious metals & jewellery $6K
Zambia
Export category Export value
Metals $820K
Raw agricultural goods $424K
Machinery & equipment $128K
Animal & marine products $3K
Miscellaneous $1K

Balance of trade

Malaysia Zambia
Current account balance
$7.15B
2024
-$487M
2024
Current account balance ranking
26/190
2024
106/190
2024
Current account balance, % of GDP
+1.69%
2024
-1.93%
2024
Goods imports
$223B
2024
$10.1B
2024
Goods exports
$248B
2024
$11.4B
2024
Service imports
$56.4B
2024
$1.94B
2024
Service exports
$53.4B
2024
$1.38B
2024
Imports of goods and services, % of GDP
66%
2024
27.6%
2024
Exports of goods and services, % of GDP
71.3%
2024
35%
2024

Economic freedom indices

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

Malaysia Zambia
Economic freedom 68 51.9
Economic freedom ranking 51/197 152/197
Property rights 62.7 43.9
Government integrity 52.9 39.3
Judicial effectiveness 63.4 45
Tax burden 83.5 74.3
Government spending 82 78.1
Fiscal health 62.5 30.9
Business freedom 79.6 53.4
Labor freedom 55.4 48.8
Monetary freedom 80.8 66.6
Trade freedom 83 62.8
Investment freedom 60 40
Financial freedom 50 40

Economic freedom comparison by year

Malaysia
Zambia
1x
Year Economic freedom index
Malaysia Zambia
2026 68 51.9
2025 67.1 50.9
2024 65.7 48.4
2023 67.3 47.8
2022 68.1 48.7
2021 74.4 50.4
2020 74.7 53.5
2019 74 53.6
2018 74.5 54.3
2017 73.8 55.8
2016 71.5 58.8
2015 70.8 58.7
2014 69.6 60.4
2013 66.1 58.7
2012 66.4 58.3
2011 66.3 59.7
2010 64.8 58
2009 64.6 56.6
2008 63.9 56.2
2007 63.8 56.2
2006 61.6 56.8
2005 61.9 55
2004 59.9 54.9
2003 61.1 55.3
2002 60.1 59.6
2001 60.2 59.5
2000 66 62.8
1999 68.9 64.2
1998 68.2 62.7
1997 66.8 62.1
1996 69.9 59.6
1995 71.9 55.1

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

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

The Economic Freedom Index for Malaysia is 68, ranking 51/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Malaysia Zambia
Services, % of GDP
53.7%
2024
57.2%
2024
Industry, % of GDP
37%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
8.13%
2024
2.83%
2024
GNI, Atlas method
$414B
2024
$25.9B
2024
GNI per capita, PPP
$37,450
2024
$3,850
2024
Total reserves including gold
$116B
2024
$4.09B
2024
Total reserves ranking
24/177
2024
106/177
2024
Net foreign direct investment
-$2.55B
2024
-$1.32B
2024
Net inflows of foreign direct investment
$15.6B
2024
$2.36B
2024
Net outflows of foreign direct investment
$13B
2024
$311M
2024
Servicing debt to the IMF, % of GNI n/a
16.9%
2024
Poverty at national poverty lines
5.8%
2023
60%
2022
Gross capital formation, % of GDP
22%
2024
23.8%
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/zambia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (2023–2024, 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.