Sunday, June 30, 2024

Malawi Economy 6-30-24

Nominal GDP $13.176B, Per capita GDP $579.70, Population 20,931,751, Debt to GDP 68.0%, Inflation 16.8%, Unemployment 5.0%, Labor force participation rate 69%, Land area 45,745 sq miles, Arable land 42.43%, Urban 18% Rural 82%, Exports $1.19B, Imports $2.15B, Trade Deficit $0.96B.

The top exports of Malawi are Raw Tobacco ($435M), Gold ($225M), Tea ($84.3M), Ground Nuts ($81.4M), and Dried Legumes ($57.5M), exporting mostly to United Arab Emirates ($255M), 

Belgium ($143M), Tanzania ($72.8M), Kenya ($58.8M), and South Africa ($56.2M).

The top imports of Malawi are Refined Petroleum ($245M), Nitrogenous Fertilizers ($110M), Crude Petroleum ($97.6M), Mixed Mineral or Chemical Fertilizers ($77.5M), and Packaged Medicaments ($75.8M), importing mostly from South Africa ($442M), China ($333M), United Arab Emirates ($240M), India ($132M), and Kuwait ($105M).

Stagnant growth, unsustainable debt, and the adverse effects of multiple shocks, including an outbreak of cholera and Cyclone Freddy last year, have compounded Malawi's economic challenges.

https://oec.world/en/profile/country/mwi

Comments

Malawi has the lowest per capita GDP at $579.70.

Norb Leahy, Dunwoody GA Tea Party Leader

 

 

 

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