What was Malawi's GDP (current US$) in 2024?

In 2024, Malawi's GDP (current US$) was $11.32 billion, according to World Bank Open Data.

Is Malawi's GDP (current US$) rising or falling?

Malawi's GDP (current US$) fell 15.3% from 2023 to 2024.

How does Malawi rank globally on GDP (current US$)?

In 2024, Malawi ranked #146 out of 192 countries reporting GDP (current US$).

How does Malawi's GDP (current US$) compare to the world average?

The global average for GDP (current US$) in 2024 was $572.20 billion, so Malawi is below the world average. Within Sub-Saharan Africa, it ranks #32 of 46.

Malawi: GDP (current US$)

Name: Malawi: GDP (current US$)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2024, Malawi's GDP (current US$) was $11.32 billion.

That's down 15.3% from 2023, the highest value since 2023.

The global average for this indicator in 2024 was $572.20 billion . Malawi ranks #146 globally out of 192 reporting countries. Within Sub-Saharan Africa, it ranks #32 of 46.

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2024

Trend (2005–2024)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: $13.36B; 2023
Trough: $5.32B; 2005
1-year change: -15.3%
5-year change: +2.4%; +0.5% / yr
10-year change: +28.6%; +2.5% / yr

Real vs nominal growth

Over the last 10 years, Malawi's nominal GDP (current US$) changed by +28.6%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +33.3%. The -4.7 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year	GDP (current US$)
2024	11.316B
2023	13.364B
2022	12.429B
2021	12.378B
2020	11.769B
2019	11.052B
2018	9.879B
2017	8.944B
2016	7.910B
2015	9.219B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Malawi's GDP (current US$) in 2024?: In 2024, Malawi's GDP (current US$) was $11.32 billion, according to World Bank Open Data.
Is Malawi's GDP (current US$) rising or falling?: Malawi's GDP (current US$) fell 15.3% from 2023 to 2024.
How does Malawi rank globally on GDP (current US$)?: In 2024, Malawi ranked #146 out of 192 countries reporting GDP (current US$).
How does Malawi's GDP (current US$) compare to the world average?: The global average for GDP (current US$) in 2024 was $572.20 billion, so Malawi is below the world average. Within Sub-Saharan Africa, it ranks #32 of 46.
What is GDP (current US$) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Download this data: CSV JSON

Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.