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Indicators of economy in Malawi

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Malawi reached 637 US dollars per inhabitant, or 12.18 bn US Dollar in the whole country. Malawi is one of the smaller economies and is currently ranked 137. If this is calculated per inhabitant taking into account the purchasing power parity, then Malawi is in the list of the world's richest countries in place 182.

Inflation in Malawi was in 2020 at around 8.63%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 61.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Malawi

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Malawi in 2020 increased from 11.03 billion US Dollar to 12.18 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 10.49 percent increase has been rather unusual this year. While most countries have suffered significant losses, Malawi has certainly held its own. The tourism sector alone slumped by around 44 percent. The unemployment rate rose from 5.8 to 6.7 percent. The inflation rate has fallen from 9.4 percent previously to 8.6 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Malawi
Total
Malawi
per capita
EU
Total
EU
per capita
GDP12.18 bn USD636.82 USD15,291.93 tn USD29,692.11 USD
Gross national product11.09 bn USD579.57 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2020

 Malawi
Total
Malawi
per capita
EU
Total
EU
per capita
Imports3.05 bn USD159.41 USD7,340.01 bn USD14,251.98 USD
Exports1.12 bn USD58.46 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1977 - 2020

Exports
Imports



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