Africa > Malawi > Economy

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Agriculture > products tobacco, sugarcane, cotton, tea, corn, potatoes, cassava, sorghum, pulses; groundnuts, Macadamia nuts; cattle, goats
Aid as % of GDP	26.2%		[6th of 129]
Debt > External	$894,000,000.00		[128th of 136]
Distribution of family income > Gini index	39		[11th of 43]
Economic freedom	1.35		[135th of 156]
Economy > Overview Landlocked Malawi ranks among the world's most densely populated and least developed countries. The economy is predominately agricultural with about 85% of the population living in rural areas. Agriculture accounts for more than one-third of GDP and 90% of export revenues. The performance of the tobacco sector is key to short-term growth as tobacco accounts for more than half of exports. The economy depends on substantial inflows of economic assistance from the IMF, the World Bank, and individual donor nations. In December 2007, the US granted Malawi eligibility status to receive financial support within the Millennium Challenge Corporation (MCC) initiative. Malawi will now begin a consultative process to develop a five-year program before funding can begin. In 2006, Malawi was approved for relief under the Heavily Indebted Poor Countries (HIPC) program. The government faces many challenges including developing a market economy, improving educational facilities, facing up to environmental problems, dealing with the rapidly growing problem of HIV/AIDS, and satisfying foreign donors that fiscal discipline is being tightened. In 2005, President MUTHARIKA championed an anticorruption campaign. Since 2005 President MUTHARIKA'S government has exhibited improved financial discipline under the guidance of Finance Minister Goodall GONDWE and signed a three year Poverty Reduction and Growth Facility worth $56 million with the IMF. Improved relations with the IMF lead other international donors to resume aid as well.
Exchange rates Malawian kwachas per US dollar - 108.894 (2004), 97.433 (2003), 76.687 (2002), 72.197 (2001), 59.544 (2000)
Exports	$604,000,000.00		[141st of 189]
GDP	$2,231,531,000.00		[137th of 203]
GDP > PPP	$7,065,000,000.00		[133rd of 163]
GDP > Real growth rate	8%		[33rd of 198]
GDP growth > annual %	2.55 annual %		[134th of 187]
GINI index	39		[10th of 40]
Gross National Income	$1,706,240,000.00		[130th of 172]
Human Development Index	0.404		[166th of 178]
Income category	Low income
Inflation rate (consumer prices)	7.9%		[58th of 192]
Population below poverty line	55%		[8th of 46]
Public debt	50.6 % of GDP		[39th of 121]
Tourist arrivals	194,000		[101st of 152]

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