Brief Overview of Malawi
Malawi is a land-locked country covering 118,500 square meters. The country is surrounded by Mozambique, Tanzania, and Zambia. Just beyond the country there are other countries such as Zimbabwe and the Democratic Republic of Congo.
Malawi is a member of SADC and COMESA and it exports manufactured products to other member countries duty-free.
The country has an abundance of natural resources and numerous tracts of beautiful natural scenery including game reserves and sandy beaches along Lake Malawi.
Lake Malawi is one of the largest freshwater bodies in the world and holds the most diverse number of fish species in one single body - over 800 species
The main economic sector in Malawi is agriculture, with some dependence on tobacco, sugar, coffee, and tea exports.
The main export commodities include tobacco, tea, raw sugar, beans, soybean products, and clothing and apparel.
Malawi’s main export partners are Belgium, the United States, Egypt, South Africa, Germany, Kenya, and the United Arab Emirates.
The main import commodities include refined petroleum, packaged medicines, fertilizers, and office machinery / parts.
Economic Indicators | |
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Population (2023)
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20.9 million
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Nominal Gross Domestic Product (GDP) (2023)
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US$ 13.272 billion
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Real GDP growth rate (2023)
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1.6%
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GDP per capita (2023)
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US$ 634.84
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Average annual inflation (2023)
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28.7%
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Currency
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Malawi Kwacha (MWK)
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World economic forum global competitiveness index (2019)
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128/141
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World Bank ease of doing business (2020)
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109/190
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Corruption perception rank (2023)
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115/180
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