Home
Request Trial
Request TrialSign In
  • Sign In
  • Forecasts And Analysis
  • Consulting
  • About Us
  • Contact
  • Countries
    • Africa
      • Algeria
      • Angola
      • Botswana
      • Cameroon
      • Côte d'Ivoire
      • Democratic Republic of Congo
      • Egypt
      • Ethiopia
      • eSwatini
      • Gabon
      • Ghana
      • Kenya
      • Lesotho
      • Libya
      • Malawi
      • Mauritius
      • Morocco
      • Mozambique
      • Namibia
      • Nigeria
      • Rwanda
      • Senegal
      • South Africa
      • Sudan
      • Tanzania
      • Tunisia
      • Uganda
      • Zambia
      • Zimbabwe

Malawi

Malawi is one of Africa’s most impoverished countries and faces significant macro- and socio-economic challenges. The country is still undiversified, with its agricultural sector playing a large role in the country’s growth and development. Corruption perceptions are still a cause for concern for the economy, but donor support is slowly improving.

Free Trial

Hopes that a fruitful tobacco marketing season would help the economy to avoid a Covid-19-induced contraction in 2020 were dashed when the season officially closed with a disappointing performance, worse than in 2019. Overall, we forecast the economy to contract by 1.2% in 2020 but to then rebound modestly from 2021-23, growing by 3.7% p.a. over this period. In our previous report, we lowered Malawi’s growth trajectory from 2021 onwards due to weak global economic conditions – we have now further lowered our growth trajectory to take into account an increase of 1°C in the average global temperature and the resultant negative impact on Malawi’s economy. (Source: Malawi Annual Country Profile, published November 2020.)

Macroeconomic Data

(2019)

Fiscal Balance (as a % of GDP)

-6.7

Consumer Price Index (% change y-o-y, avg)

9.4

Current Account Balance (as a % of GDP)

-24.0

Real GDP (annual % change)

4.4

GDP per Capita, US$

411.4

Import Cover (months)

3.1

Population, million

18.6

Total External Debt (as a % of GDP)

31.7

Related Services

In-Depth Analysis
Detailed Country Reports for 54 African countries with analysis and forecasts through 2050.
Event-Driven Analysis
Rapid response analysis to the latest African economic and political events as they occur.
Fixed Income
Insight into key economic and political events which could influence trading in African debt markets, with notification of upcoming events.
  • NKC African Economics
    • About us
    • Forecasts and analysis
    • Consulting
    • Careers
    • Contact us
  • Get in touch
    • Cecilia Square
    • Building B, 2nd Floor
    • 100 Cecilia Street
    • Paarl
    • 7646 South Africa
    • Tel: +27(0)21 863-6200
    • Email
  • Help and software
    • Help using our services
    • Software and downloads
    • Latest technology developments
  • Privacy
    • Privacy policy
    • Cookies
  • Follow Us
    • LinkedIn
    • Twitter
    • Facebook
© Oxford Economics 2019 - all rights reserved.