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Economy of Malawi information


Economy of Malawi
Lilongwe, the financial centre of Malawi
CurrencyMalawian kwacha (MWK)
Fiscal year
1 July - 30 June
Trade organisations
AU, AfCFTA (signed), WTO, SADC, COMESA
Country group
  • Least Developed[1]
  • Low-income economy[2]
Statistics
GDP
  • Increase $7.522 billion (nominal, 2019 est.)[3]
  • Increase $25.167 billion (PPP, 2019 est.)[3]
GDP rank
  • 144th (nominal, 2019)
  • 138th (PPP, 2019)
GDP growth
  • 4.0% (2017) 3.5% (2018)
  • 4.4% (2019e) 4.8% (2020f)[4]
GDP per capita
  • Increase $371 (nominal, 2019 est.)[3]
  • Increase $1,240 (PPP, 2019 est.)[3]
GDP per capita rank
  • 183rd (nominal, 2019)
  • 182nd (PPP, 2018)
GDP by sector
agriculture 29.4%, industry 15.8%, services 56.1% (2016 est.)
Inflation (CPI)
8.4% (2020 est.)[3]
Population below poverty line
  • 51.5% (2016)[5]
  • 70.3% on less than $1.90/day (2016)[6]
Gini coefficient
44.7 medium (2016)[7]
Human Development Index
  • Increase 0.485 low (2018)[8] (172nd)
  • 0.346 IHDI (2018)[9]
Labour force
  • Increase 8,156,049 (2019)[10]
  • 39.1% employment rate (2017)[11]
Labour force by occupation
agriculture: 76.9%, industry: 4.1%, services: 19% (2013 est.)
External
Exports$1.443 billion (2017 est.)
Export goods
tobacco (55%), dried legumes (8.8%), sugar (6.7%), tea (5.7%), cotton (2%), peanuts, coffee, soy (2015 est.)
Main export partners
2017:
  • Economy of Malawi Zimbabwe (13.1%)
  • Economy of Malawi Mozambique (11.8%)
  • Economy of Malawi Belgium (10.7%)
  • Economy of Malawi South Africa (6.3%)
  • Economy of Malawi Netherlands (5%)
  • Economy of Malawi United Kingdom (4.7%)
  • Economy of Malawi Germany (4.3%)
  • Economy of Malawi United States (4.2%)
Imports$2.388 billion (2017 est.)
Import goods
food, petroleum products, semi-manufactures, consumer goods, transportation equipment
Main import partners
2017:
  • Economy of Malawi South Africa (20.7%)
  • Economy of Malawi China (14.2%)
  • Economy of Malawi India (11.6%)
  • Economy of Malawi United Arab Emirates (7%)
  • Economy of Malawi Netherlands (4.4%)
FDI stock
$129.5 million (2014)
Gross external debt
$1.861 billion (2017 est.)
Public finances
Government debt
50.8% of GDP (2013 est.)
Revenues$1.347 billion (2013 est.)
Expenses$1.4 billion (2013 est.)
Economic aid$1.174 million (2012)
Foreign reserves
$364.2 million (31 December 2013 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.
Lilongwe market.

The economy of Malawi is $7.522 billion by gross domestic product as of 2019, and is predominantly agricultural, with about 80% of the population living in rural areas. The landlocked country in south central Africa ranks among the world's least developed countries. In 2017, agriculture accounted for about one-third of GDP[12] and about 80% of export revenue. The economy depends on substantial inflows of economic assistance from the IMF, the World Bank, and individual donor nations. The government faces strong challenges: to spur exports, to improve educational and health facilities, to face up to environmental problems of deforestation and erosion, and to deal with the problem of HIV/AIDS in Africa. Malawi is a least developed country according to United Nations.

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ a b c d e "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 22 January 2020.
  4. ^ "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 22 January 2020.
  5. ^ "Poverty headcount ratio at national poverty lines (% of population) - Malawi". data.worldbank.org. World Bank. Retrieved 5 February 2020.
  6. ^ "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Malawi". data.worldbank.org. World Bank. Retrieved 5 February 2020.
  7. ^ "GINI index (World Bank estimate) - Malawi". data.worldbank.org. World Bank. Retrieved 5 February 2020.
  8. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  9. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  10. ^ "Labor force, total - Malawi". data.worldbank.org. World Bank & ILO. Retrieved 5 February 2020.
  11. ^ "Employment to population ratio, 15+, total (%) (national estimate) - Malawi". data.worldbank.org. World Bank. Retrieved 5 February 2020.
  12. ^ "CIA World Factbook". CIA. 3 March 2022.

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