Economy of Malawi

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Gross Domestic Product 2012

GDP (purchasing power parity): $14.58 billion (2012 est.)

GDP real growth rate: 4.3% (2012 est.)

GDP per capita (PPP): $900 (2012 est.)

GDP composition by sector

Agriculture: 29.6%

Industry: 16.9%

Services: 53.5% (2012 est.)

Inflation: 18.4% (2012 est.)

Currency: Malawian kwacha (MK)

Business Languages

English is the official and business language in Malawi. Chichewa is the national language.

Transport

Malawi has about 15,451 kilometers of road ways, 797 kilometers of narrow guage railway and 31 airports. Slightly less than half of the road network is paved and seven of the airports have paved runways. There are steamboats on Lake Malawi providing transport across the lake.

Energy

Hydropower generates 94% of Malawi’s electricity, the rest coming from Thermal energy. Only about 7% of the population has access to electricity which is erratic with frequent shortages and blackouts. Malawi’s energy balance is dominated by biomass (firewood, charcoal, agricultural and industrial wastes), which accounts for 97% of the total primary energy supply. There is an increasing energy demand in Malawi with about 88.5% of total energy consumption met through the use of biomass (firewood and charcoal).

Challenges in Malawi

  • Electricity shortage
  • Deforestation
  • Infrastructure underdevelopment
  • Poverty

 

 

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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