Malawi Economy 1997

Economy - overview Landlocked Malawi ranks among the world's least developed countries.The economy is predominately agricultural, with about 90% of the population living in rural areas. Agriculture accounts for 45% of GDP and 90% of exportrevenues. The economy depends on substantial inflows of economic assistancefrom the IMF, the World Bank, and individual donor nations. The new governmentfaces strong challenges, e.g., to spur exports, to improve educational andhealth facilities, and to deal with environmental problems of deforestationand erosion.

GDP purchasing power parity - $7.5 billion (1996 est.)

GDP - real growth rate 6% (1996 est.)

GDP - per capita purchasing power parity - $800 (1996 est.)

GDP - composition by sector
agriculture : 45%
industry: 30%
services: 25% (1995 est.)

Inflation rate - consumer price index 83.3% (1995 est.)

Labor force
total: 3.5 million
by occupation : agriculture 86%, wage earners 14% (1990 est.)

Unemployment rate NA%

Budget
revenues : $530 million
expenditures: $674 million, including capital expenditures of $129 million (1993)

Industries tea, tobacco, sugar, sawmill products, cement, consumer goods

Industrial production growth rate 1% (1994 est.)

Electricity - capacity 190,000 kW (1993)

Electricity - production 782 million kWh (1993)

Electricity - consumption per capita 67 kWh (1993)

Agriculture - products tobacco, sugarcane, cotton, tea, corn, potatoes, cassava (tapioca),sorghum, pulses; cattle, goats

Exports
total value : $431 million (f.o.b., 1995 est.)
commodities: tobacco, tea, sugar, coffee, peanuts, wood products
partners: US, South Africa, Germany, Japan

Imports
total value: $348 million (f.o.b., 1995 est.)
commodities: food, petroleum products, semimanufactures, consumer goods, transportationequipment
partners : South Africa, Zimbabwe, Japan, US, UK, Germany

Debt - external $2.2 billion (1995 est.)

Economic aid
recipient: donor pledges, $332 million (1996)

Currency 1 Malawian kwacha (MK) = 100 tambala

Exchange rates Malawian kwacha (MK) per US$1 - 15.3118 (September 1996), 15.2837 (1995),8.7364 (1994), 4.4028 (1993), 3.6033 (1992)

Fiscal year 1 April - 31 March

NOTE: The information regarding Malawi on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Malawi Economy 1997 information contained here. All suggestions for corrections of any errors about Malawi Economy 1997 should be addressed to the CIA.