In-Depth Analysis
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.
The 2021 tobacco export market performance, although better than last year, still disappointed. We continue to expect the economy to expand by 3.1% in 2021. The slow rate of vaccination in Malawi means it is unlikely that the government will reach its goal of vaccinating 60% of the population anytime soon. Although the government got off to a good start with its vaccination rollout programme in March, vaccine hesitancy among Malawians crept in over the year and this, coupled with the low quantity of vaccines available in the country, has caused the programme to be delayed. (Source: Malawi Quarterly Update, published November 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-10.8 |
|
Consumer Price Index (% change y-o-y, avg) |
8.6 |
|
Current Account Balance (as a % of GDP) |
-19.6 |
|
Real GDP (annual % change) |
0.8 |
|
GDP per Capita, US$ |
457.1 |
|
Import Cover (months) |
2.26 |
|
Population, million |
19.1 |
| Total External Debt (as a % of GDP) |
36.2 |