Labor force | 8.366 million (2023 est.) |
---|---|
Industrial production growth rate | 1.58% (2023 est.) |
Industries | tobacco, tea, sugar, sawmill products, cement, consumer goods |
Population below poverty line | 50.7% (2019 est.) |
Taxes and other revenues | 12.78% (of GDP) (2022 est.) |
Fiscal year | |
Exchange rates | |
Currency | Malawian kwachas (MWK) per US dollar - |
Exchange rates 2020 | 749.527 (2020 est.) |
Exchange rates 2019 | 745.541 (2019 est.) |
Exchange rates 2018 | 732.333 (2018 est.) |
Exchange rates 2017 | 730.273 (2017 est.) |
Exchange rates 2016 | 718.005 (2016 est.) |
Debt - external | |
Debt - external 2022 | $1.971 billion (2022 est.) |
Reserves of foreign exchange and gold | |
Reserves of foreign exchange and gold 2020 | $594.498 million (2020 est.) |
Reserves of foreign exchange and gold 2019 | $846.84 million (2019 est.) |
Reserves of foreign exchange and gold 2018 | $766.155 million (2018 est.) |
Current account balance | |
Current account balance 2022 | -$2.276 billion (2022 est.) |
Current account balance 2021 | -$1.918 billion (2021 est.) |
Current account balance 2020 | -$1.639 billion (2020 est.) |
Public debt | |
Public debt 2022 | 52.63% of GDP (2022 est.) |
Budget | |
Revenues | $1.688 billion (2020 est.) |
Expenditures | $1.941 billion (2020 est.) |
Budget surplus (+) or deficit (-) | |
Remittances | |
Remittances 2023 | 1.85% of GDP (2023 est.) |
Remittances 2022 | 2.01% of GDP (2022 est.) |
Remittances 2021 | 2.53% of GDP (2021 est.) |
Household income | |
Lowest 10% | 2.9% (2019 est.) |
Highest 10% | 31% (2019 est.) |
Imports | |
Imports 2022 | $3.706 billion (2022 est.) |
Imports 2021 | $3.768 billion (2021 est.) |
Imports 2020 | $3.373 billion (2020 est.) |
Imports (partners) | South Africa 20%, China 15%, UAE 11%, India 6%, Kuwait 5% (2022) |
Comodities Imports force | refined petroleum, fertilizers, crude petroleum, packaged medicine, plastic products (2022) |
Exports | |
Imports 2022 | $3.706 billion (2022 est.) |
Imports 2021 | $3.768 billion (2021 est.) |
Imports 2020 | $3.373 billion (2020 est.) |
Exports (partners) | UAE 21%, Belgium 12%, Tanzania 6%, Kenya 5%, South Africa 5% (2022) |
Comodities Exports force | tobacco, gold, tea, ground nuts, dried legumes (2022) |
Real GDP (purchasing power parity) | |
Real GDP (purchasing power parity) 2023 | $35.238 billion (2023 est.) |
Real GDP (purchasing power parity) 2022 | $34.703 billion (2022 est.) |
Real GDP (purchasing power parity) 2021 | $34.386 billion (2021 est.) |
GDP (official exchange rate) | $14.084 billion (2023 est.) |
Real GDP Per capita | |
Real GDP per capita 2023 | $1,700 (2023 est.) |
Real GDP per capita 2022 | $1,700 (2022 est.) |
Real GDP per capita 2021 | $1,700 (2021 est.) |
GDP - composition, by sector of origin | |
Agriculture | 22.1% (2023 est.) |
Industry | 18.3% (2023 est.) |
Services | 52.2% (2023 est.) |
GDP - composition, by end use | |
Household consumption | 84.3% (2017 est.) |
Government consumption | 16.3% (2017 est.) |
Investment in fixed capital | 15.3% (2017 est.) |
Exports of goods and services | 27.9% (2017 est.) |
Imports of goods and services | -43.8% (2017 est.) |
Unemployment rate | |
Unemployment rate 2023 | 5.04% (2023 est.) |
Unemployment rate 2022 | 5.05% (2022 est.) |
Unemployment rate 2021 | 5.59% (2021 est.) |
Youth unemployment rate (ages 15-24) | |
Total | 6.8% (2023 est.) |
Male | 6.4% (2023 est.) |
Female | 7.2% (2023 est.) |
Want to know more about Malawi? Check all different factbooks for Malawi below.