Global Macro Expert
Beta Siller Advisory

Macro

Malawi

Sub-Saharan Africa · Low income · IMF WEO April 2026 · World Bank WDI

GDP▲ 27.6%
Current prices2025
15USD bn
GDP per capita▲ 24.1%
Current prices2025
625USD
Real GDP growth▲ 0.4 pp
Annual change2025
2.1%
Inflation▼ 3.8 pp
Average consumer prices2025
28.4%
Government debt▼ 9.3 pp
General government, gross2025
78.4% of GDP
Current account▲ 2.0 pp
Balance2025
-16.5% of GDP
Population▲ 2.9%
Total2025
24.06million

Real GDP growth, %

Since 1995 · lighter bars = IMF projection
-4.10.013.81995: 13.8%1996: 10.0%1997: 6.6%1998: 1.1%1999: 3.5%2000: 0.8%2001: -4.1%2002: 1.8%2003: 5.7%2004: 5.4%2005: 3.3%2006: 4.7%2007: 9.6%2008: 7.6%2009: 8.3%2010: 6.9%2011: 4.9%2012: 1.9%2013: 5.2%2014: 5.7%2015: 3.0%2016: 2.3%2017: 4.0%2018: 4.4%2019: 5.4%2020: 1.0%2021: 4.6%2022: 0.9%2023: 1.9%2024: 1.7%2025: 2.1%2026: 2.2% (IMF projection)2027: 2.4% (IMF projection)2028: 2.7% (IMF projection)2029: 2.9% (IMF projection)2030: 3.0% (IMF projection)2031: 3.0% (IMF projection)IMF projection19952000200520102015202020252030

Inflation, %

Average consumer prices · lighter bars = IMF projection
0.083.11995: 83.1%1996: 37.7%1997: 9.1%1998: 29.8%1999: 44.8%2000: 29.6%2001: 22.7%2002: 14.7%2003: 9.6%2004: 11.4%2005: 15.5%2006: 13.9%2007: 7.9%2008: 8.7%2009: 8.4%2010: 7.4%2011: 7.6%2012: 21.3%2013: 28.3%2014: 23.8%2015: 21.9%2016: 21.7%2017: 11.5%2018: 9.2%2019: 9.4%2020: 8.6%2021: 9.3%2022: 20.8%2023: 28.8%2024: 32.2%2025: 28.4%2026: 24.4% (IMF projection)2027: 22.0% (IMF projection)2028: 20.9% (IMF projection)2029: 18.6% (IMF projection)2030: 17.6% (IMF projection)2031: 16.4% (IMF projection)IMF projection19952000200520102015202020252030

IMF outlook

IMF World Economic Outlook April 2026 · italics = IMF projection
Indicator2021202220232024202520262027202820292030
Real GDP growth %4.60.91.91.72.12.22.42.72.93.0
Inflation, average consumer prices %9.320.828.832.228.424.422.020.918.617.6
GDP, current prices USD bn12131312151821242831
GDP per capita, current prices USD5815675915046257338249241,0231,133
GDP per capita, PPP Int. USD1,5751,6551,7011,7231,7581,7971,8281,8551,8891,926
General government gross debt % of GDP66.575.786.787.678.474.572.670.268.867.7
General government net lending/borrowing % of GDP-8.3-9.3-7.8-11.0-11.5-10.5-12.0-11.4-11.5-11.5
Current account balance % of GDP-15.2-18.2-15.6-18.5-16.5-15.4-13.4-11.6-10.7-10.0
Population million21.4722.0922.7323.3824.0624.7525.4626.2026.9527.73

Government debt, % of GDP

General government gross debt
0.01022002: 102%2003: 85%2004: 75%2005: 71%2006: 18%2007: 19%2008: 24%2009: 23%2010: 19%2011: 20%2012: 29%2013: 35%2014: 34%2015: 35%2016: 37%2017: 40%2018: 41%2019: 41%2020: 54%2021: 67%2022: 76%2023: 87%2024: 88%2025: 78%2026: 74% (IMF projection)2027: 73% (IMF projection)2028: 70% (IMF projection)2029: 69% (IMF projection)2030: 68% (IMF projection)2031: 68% (IMF projection)IMF projection200520102015202020252030

Current account, % of GDP

Balance of payments
-18.50.02000: -1.7%2001: -1.4%2002: -9.6%2003: -7.3%2004: -7.4%2005: -9.4%2006: -12.4%2007: -5.8%2008: -10.7%2009: -7.2%2010: -6.1%2011: -6.1%2012: -6.9%2013: -6.5%2014: -7.0%2015: -12.2%2016: -13.1%2017: -15.5%2018: -12.0%2019: -12.6%2020: -14.1%2021: -15.2%2022: -18.2%2023: -15.6%2024: -18.5%2025: -16.5%2026: -15.4% (IMF projection)2027: -13.4% (IMF projection)2028: -11.6% (IMF projection)2029: -10.7% (IMF projection)2030: -10.0% (IMF projection)2031: -9.4% (IMF projection)IMF projection2000200520102015202020252030

Economic structure

Value added by sector, % of GDP · World Bank
AgricultureManufacturingOther industryServices
YearStructureAgricultureIndustryManufacturingServices
199522.320.5–49.6
200527.417.5–47.8
201523.017.6–53.2
202530.014.3–48.7

Income, trade and society

World Bank WDI · change over 10 years
IndicatorLatestUnitYear10Y change
GNI per capita, Atlas method600USD2025+17.6%
GNI, Atlas method13USD bn2025+54.8%
Exports of goods and services10.6% of GDP2025–
Imports of goods and services28.8% of GDP2025–
Life expectancy at birth67.6years2024+9.6%
Urban population17.6% of total2025+1.8 pp

Sources: IMF World Economic Outlook (April 2026; 2026 onwards are IMF projections) · World Bank World Development Indicators (CC BY 4.0)