Prices & public finance · Sub-Saharan Africa · Low income
Malawi: prices, money and public finance
Inflation is 28.4% (2025), 9th of 180 in the world and 5th of 44 in Sub-Saharan Africa. GDP deflator is 30.4% (2025), 10th of 209 in the world and 3rd of 46 in Sub-Saharan Africa. Lending rate is 37.1% (2024), 5th of 136 in the world and 3rd of 36 in Sub-Saharan Africa.
Inflation
MalawiSub-Saharan AfricaLow incomeWorld
GDP deflator
MalawiSub-Saharan AfricaLow incomeWorld
14 indicators
Prices & public finance: Malawi in detail
Latest reported value, world rank and rank within Sub-Saharan Africa; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| InflationInflation, consumer prices, annual % | 28.4%2025 | 9/180 | 5/44 | 29.6% | 7.4% | 8.6% | +6.5 ppsince 2015 | 3.4% | 4.4% | 3.0% | |
| GDP deflatorInflation, GDP deflator, annual % | 30.4%2025 | 10/209 | 3/46 | 30.5% | 12.1% | 6.2% | +10.6 ppsince 2015 | 4.1% | 6.3% | 3.3% | |
| Lending rateLending interest rate, % | 37.1%2024 | 5/136 | 3/36 | 53.1% | 24.6% | 24.2% | −7.2 ppsince 2014 | — | — | — | |
| Real interest rateReal interest rate, % | 10.0%2024 | 23/136 | 9/36 | 17.3% | 11.1% | 16.9% | −9.3 ppsince 2014 | — | — | — | |
| Exchange rateOfficial exchange rate, local currency per US$ | 1,161.092023 | 26/210 | 10/47 | 59.54 | 150.49 | 749.53 | +219%since 2013 | — | — | — | |
| Tax revenueTax revenue, % of GDP | 15.6%2024 | 77/142 | 12/32 | · | 10.6% | 12.1% | +4.6 ppsince 2014 | — | 9.9% | 13.9% | |
| Government revenueGovernment revenue excluding grants, % of GDP | 15.9%2024 | 115/142 | 17/32 | · | 11.7% | 12.9% | +4.1 ppsince 2014 | — | 11.4% | 24.0% | |
| Government expenseGovernment expense, % of GDP | 20.2%2022 | 99/142 | 13/32 | · | 12.7% | 16.5% | +8.3 ppsince 2012 | — | 13.9% | 28.5% | |
| Government debtCentral government debt, % of GDP | 61.8%2023 | 28/78 | 5/15 | · | 19.3% | 44.8%2019 | +36.9 ppsince 2013 | — | — | — | |
| External debtExternal debt stocks, % of GNI | 35.2%2024 | 80/119 | 29/43 | 107.8% | 10.2% | 25.9% | +16.0 ppsince 2014 | — | 42.2% | — | |
| Private creditDomestic credit to private sector, % of GDP | 7.9%2024 | 158/169 | 34/42 | 3.9% | 9.5% | 7.9% | +0.1 ppsince 2014 | 31.7% | 12.6% | 140.3% | |
| Broad moneyBroad money, % of GDP | 27.2%2024 | 130/146 | 29/42 | 12.3% | 15.2% | 17.5% | +10.7 ppsince 2014 | 42.6% | 22.6% | 135.7% | |
| Reserves, months of importsTotal reserves in months of imports | 1.92020 | 133/165 | 23/32 | 4.4 | 1.4 | 1.9 | +39%since 2010 | 6.1 | 3.3 | 8.6 | |
| Military spendingMilitary expenditure, % of GDP | 1.15%2025 | 106/156 | 27/45 | 0.28% | 0.51% | 0.83% | +0.7 ppsince 2015 | 1.13% | 1.57% | 2.48% |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
- Reserves, months of imports+39%1.9 in 2020
Worse than ten years ago
- Inflation+6.5 pp28.4% in 2025
- Government debt+36.9 pp61.8% in 2023
- External debt+16.0 pp35.2% in 2024
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
Malawi and its neighbours
Countries sharing a land border with Malawi. Latest values since 2005; the highest in each row is marked.
| Indicator | Malawi | Tanzania | Mozambique | Zambia |
|---|---|---|---|---|
| Inflation | 28.4%2025 | 3.3%2025 | 4.4%2025 | 13.9%2025 |
| GDP deflator | 30.4%2025 | 5.1%2025 | -1.0%2025 | 5.6%2025 |
| Lending rate | 37.1%2024 | 16.7%2020 | 17.5%2025 | 9.5%2020 |
| Real interest rate | 10.0%2024 | 9.6%2020 | 18.7%2025 | -3.9%2020 |
| Exchange rate | 1,161.092023 | 2,597.902024 | 63.912024 | 25.282025 |
| Tax revenue | 15.6%2024 | 12.3%2024 | 21.8%2024 | 18.8%2024 |
| Government revenue | 15.9%2024 | 14.0%2024 | 24.5%2024 | 23.4%2024 |
| Government expense | 20.2%2022 | 16.3%2024 | 26.0%2022 | 25.1%2021 |
| Government debt | 61.8%2023 | — | 71.8%2024 | 71.4%2021 |