Malawi/Economy

Economy of Malawi

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$12.7B(2023)
GDP PPP (USD)
$38.6B(2023)
GDP per Capita (USD)
$602(2023)
GDP Growth (inflation-adjusted)
1.9%(2023)
Inflation (CPI Annual %)
32.2%(2024)

Trade & Finance

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FDI Inflows (as share of GDP)
1.6%(2023)
Remittance Inflow (USD)
$179.7M(2023)
Tax Revenue (as share of GDP)
13.5%(2022)

Labor & Income

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Unemployment Rate
5%(2024)
Employment in Services
30.3%(2023)
Poverty Rate
50.7%(2019)
GINI Index
38.5(2019)
GNI per Capita (USD)
$600(2023)

Energy & Environment

Coming Soon
Renewable Energy Consumption (%)
62.9%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Malawi

  • The economic architecture of Malawi is substantial, anchored by a Gross Domestic Product (GDP) of approximately $12.71B
    2023
    . This places it as the 142nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $602.34
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $38.61B, reflecting the population's domestic purchasing power. The economy is seeing modest growth of 1.9%
    2023
    , but this is challenged by high inflation, with the Consumer Price Index (CPI) at 32.2%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. Foreign Direct Investment (FDI) inflows are significant, constituting 1.60% of the economy
    2023
    . This performance positions the country 107th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $179.75M annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 13.5% of GDP
    2022
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $600
    2023
    . Globally, this ranks the nation 184th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 5.0%
    2024
    . The services sector is a primary driver of the labor market, accounting for 30.3% of total employment
    2023
    . Poverty remains a key issue, with 50.7% of the population living below the national poverty line
    2019
    . There is a moderate level of income inequality, with a Gini index of 38.5
    2019
    .
  • On the environment and energy front, The country is a leader in clean energy, with renewable sources making up 62.9% of total final energy consumption
    2022
    . Its commitment to clean energy places it 157th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Runaway inflation is the most pressing economic threat, eroding purchasing power and creating instability.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.