Malawi: Visió econòmica i política
Malawi is relatively open to international trade, which represents 66.6% of the country’s GDP (World Bank). The country is a member of the WTO and has bilateral trade agreements with two of its main trade partners, South Africa and Zimbabwe. Malawi is also a beneficiary of the African Growth and Opportunity Act (AGOA), a U.S. trade preference program. As part of its trade policy, the country has been gradually reducing protections granted to domestic trade by shifting its sources of revenue from customs duties to consumption and direct taxes. The average applied tariff rate is 4.2%. Malawi mainly exports raw tobacco (52.5% of total exports), sugar, tea, leguminous, nuts and machinery. Imports are led by refined petroleum (7.2% of total imports), fertilizers, medicines, tobacco and vehicles.
The main export destinations of Malawi in 2020 were Belgium, South Africa, the United Kingdom, Kenya, the United States, Zimbabwe, China and Tanzania. The top import origins were South Africa, China, the United Arab Emirates, India, the United Kingdom and Zambia. (Comtrade).
Malawi’s trade balance is structurally in deficit. In 2019, trade deficit (including services) reached USD 2.03 billion. In 2020, imports of goods reached USD 2.82 billion, while the country exported goods for a value of USD 767 million. The export of services generated USD 162 million while the import of services bill amounted to USD 275 million (WTO). In 2022, the trade deficit is expected to narrow only marginally, as increased agricultural exports will be partly offset by rising imports and the depreciation of the Malawian kwacha (Coface).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 2,547 | 2,706 | 2,941 | 2,820 | 3,257 |
Exports of Goods (million USD) | 884 | 880 | 913 | 767 | 1,007 |
Imports of Services (million USD) | 301 | 302 | 337 | 275 | 0 |
Exports of Services (million USD) | 130 | 160 | 175 | 162 | 0 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Trade Balance (million USD) | -1,577 | -1,658 | -1,733 | -1,797 | -1,914 |
Trade Balance (Including Service) (million USD) | -1,737 | -1,819 | -1,819 | -1,940 | -2,043 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -10.5 | -1.7 | 8.4 | 5.2 | 7.5 |
Volume of imports of goods and services (Annual % change) | -17.5 | 2.9 | 2.4 | 6.2 | 4.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
• WTO since 1995
• Cotonou Agreement
• Southern African Development Community (SADC)
• Common Market for Eastern and Southern Africa (COMESA).
• African Growth and Opportunity Act beneficiary country
• Malawi signed a bilateral trade agreement with South Africa, under which a number of export products may enter the South African market at reduced rates of import duty
• Malawi signed a preferential trade agreement with Mozambique with the intention that Malawi export products to the neighbouring country are duty-free.
Main Customers (% of Exports) |
2020 |
Belgium | 20.8% |
South Africa | 6.2% |
United Kingdom | 6.0% |
Kenya | 5.1% |
United States | 4.6% |
See More Countries | 57.3% |
Main Suppliers (% of Imports) |
2020 |
South Africa | 20.6% |
China | 16.2% |
United Arab Emirates | 10.1% |
India | 7.7% |
United Kingdom | 4.6% |
See More Countries | 40.9% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
0.2 bn USD of services exported in 2019 | |
24.19% | |
23.19% | |
Business travelBusiness travel | 16.57% |
Personal travelPersonal travel | 6.61% |
16.63% | |
14.18% | |
10.26% | |
6.87% | |
4.08% | |
0.59% |
0.4 bn USD of services imported in 2019 | |
29.95% | |
Business travelBusiness travel | 15.00% |
Personal travelPersonal travel | 14.95% |
26.38% | |
17.46% | |
9.45% | |
5.81% | |
5.78% | |
4.16% | |
1.01% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023