Malawi: economy

What is the inflation rate in Malawi?

Consumer prices in Malawi were 20.0% higher in August 2026 than a year earlier, down from 20.8% in July, according to the National Statistical Office (NSO). Food inflation was 13.4% and non-food inflation 31.8%.

Prices rose 2.0% between July and August 2026, according to the NSO index tables. Food carries 53.7% of the weight in the national index, so food prices drive much of the headline rate. The Reserve Bank of Malawi projects average inflation of 22.0% for 2026, down from 28.4% in 2025, against a medium-term objective of 5.0%.

Official sources: NSO Malawi: Consumer Price Index, August 2026 · NSO Malawi: Consumer price indices, August 2026 (XLSX) · Reserve Bank of Malawi: Monetary Policy Committee statement, 6 August 2026 (PDF)

What is the interest rate in Malawi?

The Reserve Bank of Malawi's policy rate is 24.0%, kept unchanged by its Monetary Policy Committee on 6 August 2026. The Lombard rate, at which banks borrow overnight from the central bank, stays 0.2 percentage points above the policy rate.

The committee also kept the liquidity reserve requirement at 12.0% for local currency deposits and 3.75% for foreign currency deposits. It said the stance is meant to support the fall in inflation, which remains well above the Bank's 5.0% medium-term objective. Commercial bank lending rates are set above the policy rate and are published on the Reserve Bank's statistics pages.

Official sources: Reserve Bank of Malawi: Monetary Policy Committee statement, 6 August 2026 (PDF)

What is the GDP growth rate of Malawi?

Malawi's economy grew by 2.5% in 2025, according to the Reserve Bank of Malawi, which projects 2.8% for 2026. The IMF World Economic Outlook (October 2026) also gives 2.5% for 2025 and projects 2.6% for 2026.

The National Statistical Office expenditure GDP report puts preliminary 2025 GDP at MWK8.14 trillion at constant 2017 prices, up from MWK7.94 trillion in 2024, and at MWK24.76 trillion at current prices. Growth was driven mainly by household consumption, while imports grew faster than exports. The 2025 figures are preliminary and may be revised.

Official sources: Reserve Bank of Malawi: Monetary Policy Committee statement, 6 August 2026 (PDF) · IMF DataMapper: Real GDP growth, Malawi · NSO Malawi: Expenditure GDP Report 2017-2025 (PDF)

What is the GDP per capita of Malawi?

Malawi's GDP per person was about US$627 in 2025, according to the IMF World Economic Outlook (October 2026), which projects about US$740 for 2026. The World Bank gives US$672 for 2025.

The two estimates differ because they use different exchange rate and population assumptions. Dollar values depend heavily on the kwacha's exchange rate. In kwacha, the National Statistical Office puts 2025 GDP at MWK24.76 trillion at current prices.

Official sources: IMF DataMapper: GDP per capita, Malawi · World Bank: GDP per capita (current US$), Malawi

Is Malawi's economy growing?

In 2025, real GDP growth in Malawi was 1.9%, according to the World Bank. Its high point since 2005 was 2007, at 9.6%; its low point was 2020, at 0.8%. It is 40th highest of 46 in Sub-Saharan Africa, where the median is 4.6%. Worldwide: 131st of 180.

What is GDP per capita in Malawi?

The latest figure from the World Bank, for 2025, is $672. Its high point since 2005 was 2011, at $763; its low point was 2005, at $414. Across Sub-Saharan Africa the middle value was $1,351, and Malawi placed 41st highest of 46. World rank, highest first: 175th of 180.

What is Malawi's GDP per person adjusted for prices?

According to the World Bank, GDP per person at purchasing power parity in Malawi was $1,899 in international dollars in 2025. It is the top of the series, which starts in 2005. Sub-Saharan Africa median: $4,425 in international dollars; Malawi is 42nd highest of 46. World rank, highest first: 175th of 179.

What share of Malawi's economy is exports?

In 2025, exports of goods and services in Malawi was 10.6% of GDP, according to the World Bank. No year since 2017 has been lower. It is 36th highest of 38 in Sub-Saharan Africa, where the median is 26.1% of GDP. Of 133 countries with 2025 data, 128th highest.

Does Malawi earn more abroad than it spends?

-14.0% of GDP: that is the current account balance in Malawi for 2025, according to the IMF, which is a deficit. Its high point since 2005 was 2006, at -5.3% of GDP; its low point was 2017, at -17.4% of GDP. Sub-Saharan Africa median: -3.6% of GDP; Malawi is 19th highest of 20. World rank, highest first: 123rd of 132.

What is FDI in Malawi?

The latest figure from the IMF, for 2025, is 3.6% of GDP. The peak was 7.0% of GDP in 2011 and the low -0.1% of GDP in 2012. Across Sub-Saharan Africa the middle value was 2.0% of GDP, and Malawi placed 17th highest of 46. Of 179 countries with 2025 data, 53rd highest.

How high are loan rates in Malawi?

In 2024, the average bank lending rate in Malawi was 37.1%, according to the IMF. The peak was 46.0% in 2013 and the low 23.8% in 2011. Sub-Saharan Africa median: 16.0%; Malawi is 3rd highest of 23. Worldwide: 5th of 89.