Malawi flag Malawi: Economic and Political Overview

Foreign trade figures of Malawi

Foreign Trade in Figures

Malawi is relatively open to international trade: 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. Overall, Malawi's economy remains heavily dependent on agriculture, and its exports and imports reflect this reliance on primary and intermediate goods: tobacco accounts for almost half of total exports, as the country is one of the world's largest producers of tobacco. Other major exports include groundnuts, tea, dried vegetables, and agricultural products in general. Imports are led by refined petroleum (18.6% of total imports in 2023), fertilizers, clothing, and medicaments (data Comtrade).

According to the latest data available by Comtrade, the main export destinations of Malawi in 2023 were Belgium (15.9%), Tanzania (10.8%), China (5.6%), South Africa (5.4%), and Zimbabwe (5.3%); whereas the top import origins were China (17.4%), South Africa (15.6%), the United Arab Emirates (12.4%), India (7.0%), Tanzania (6.7%), and Zambia (4.1%).

Malawi’s trade balance is structurally in deficit. In 2023, imports of goods declined by 1.6% to USD 1.56 billion, while the country exported goods for a value of around USD 880 million (-2.2% – data WTO).  Concerning services, imports stood at USD 550 million against USD 398 million in exports. According to preliminary figures from the NSO, the trade deficit widened to 6.3% of GDP in 2024, as it reached USD 2,31 billion (from 2.17 billion one year earlier). Total imports of goods and services surged to USD 3.26 billion throughout the year, with exports falling short of the one billion mark (927 million).

 
Foreign Trade Values 20212022202320242025
Imports of Goods (million USD) 3,0731,5863,1413,3153,661
Exports of Goods (million USD) 1,009900966958947
Imports of Services (million USD) 5949631,005895953
Exports of Services (million USD) 462399465508519

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20202021202220232024
Foreign Trade (in % of GDP) 41.044.643.642.4n/a
Trade Balance (million USD) -1,919-2,048-1,845-1,976-2,002
Trade Balance (Including Service) (million USD) -2,065-2,181-2,409-2,516-2,388
Imports of Goods and Services (Annual % Change) 8.15.2-16.51.7n/a
Exports of Goods and Services (Annual % Change) -4.417.2-24.122.4n/a
Imports of Goods and Services (in % of GDP) 30.031.932.331.2n/a
Exports of Goods and Services (in % of GDP) 11.012.711.311.2n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20252026 (e)2027 (e)2028 (e)2029 (e)
Volume of exports of goods and services (Annual % change) 25.015.110.48.86.4
Volume of imports of goods and services (Annual % change) 8.03.04.63.55.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Malawi trade memberships:

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 Partner Countries

Main Customers
(% of Exports)
2024
Belgium 18.6%
South Africa 6.5%
India 6.3%
Tanzania 6.0%
Egypt 4.9%
See More Countries 57.7%
Main Suppliers
(% of Imports)
2024
China 16.1%
South Africa 14.9%
Tanzania 10.3%
United Arab Emirates 8.5%
India 8.4%
See More Countries 41.8%

Source: Comtrade, 2026. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

1.0 bn USD of products exported in 2024
Unmanufactured tobacco; tobacco refuseUnmanufactured tobacco; tobacco refuse 59.4%
Dried leguminous vegetables, shelled, whether or...Dried leguminous vegetables, shelled, whether or not skinned or split 8.5%
Tea, whether or not flavouredTea, whether or not flavoured 7.2%
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil 3.7%
Groundnuts, whether or not shelled or broken (excl...Groundnuts, whether or not shelled or broken (excl. roasted or otherwise cooked) 3.0%
See More Products 18.1%
3.3 bn USD of products imported in 2024
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 15.7%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg) 4.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.7%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.3%
Mineral or chemical fertilisers containing two or...Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers (excl. pure animal or vegetable fertilisers or mineral or chemical nitrogenous, phosphatic or potassic fertilisers); animal, vegetable, mineral or chemical fertilisers in tablets or similar forms or in packages of a gross weight of <= 10 kg 3.1%
See More Products 70.0%

Source: Comtrade, 2026. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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Latest Update: July 2026