Trade Indicators
Indicated figures are in US dollars.
In Milion USD | ||||
2020 | 2021 | 2022 | 2023 | |
Gross Domestic Product | 12,060 | 12,600 | 13,600 | |
Export of Goods (fob) | 781,981 | 1,019,154 | 940,876 | |
Import of Goods (fob) | 2,730,273 | 3,126,581 | 1,553,015 | |
Merchandise Trade Balance | - 1,948,292 | - 2,107,427 | - 612,139 | |
Export of Services | 207,000 | |||
Import of Services | 353,000 | |||
Service Trade Balance | - 146,000 | |||
Overall Trade Balance | - 2, 094, 292 | - 2, 107,427 | - 612,139 | |
Exports of Goods & Services as % GDP | 7.0% | 8.7% | 8.2% | |
Imports of Good & Services as % GDP | 22.3% | 24.2% | 12.2% | |
Foreign Direct Investment (FDI) | 406.1 | 101.9 | 158.6 | |
Source: Trademap, MITC calculations, RBM |
Main Exports & Imports
Main Export Product | Share In 2022 Exports | Main Import Product | Share in 2022 Imports | |
Tobacco | 45.53% | Petroleum Oils | 16.84% | |
Groundnuts | 9% | Fertilizer | 14.39% | |
Tea | 8.48% | Vehicles | 5.88% | |
Dried leguminous Vegetables | 5.99% | Electrical equipment & parts | 4.92% | |
Soya beans | 2.7 % | Pharmaceutical products | 3.98% | |
Sugar | 2.54% | Textiles |
3.5%
|
|
Cotton | 1.21% | |||
Coffee | 0.26% |
Main Export Services | 2021 Export Value (US$) | Main Import Services | 2021 Import Value (US$) | |
Telecommunications, computer, and information services | 71,000 |
Transport | 54,000 |
|
Insurance and pension services | 31,000 |
Other business services | 46,000 |
|
Transport | 30,000 |
Insurance and pension services | 24,000 |
|
Financial services | 22,000 |
Telecommunications, computer, and information services | 20,000 |
|
Other business services | 16,000 |
Government services, n.i.e | 14,000 |
Trading Partners
Main Buyers of Goods | Share in 2022 exports | Main Suppliers of Goods | Share in 2022 imports | |
Belgium | 16 % | China | 16.5 % | |
Tanzania | 9.4 % | United Arab Emirates | 14 % | |
Kenya | 6.9 % | South Africa | 14 % | |
South Africa | 6.4 % | Kuwait | 7.4 % | |
Zimbabwe | 5.3 % | India | 5.5 % | |
United States of America | 5.3 % | Japan | 3.2 % | |
Zambia | 4.4 % | Malaysia | 2.8 % | |
India | 4 % | Zambia | 2.6 % |
Source: Trade Map -Malawi