Flag description:
three equal horizontal bands of black (top), red, and green with a
radiant, rising, red sun centered in the black band
Government - note:
the executive exerts considerable influence over the legislature
Economy Malawi
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 accounted for
nearly 40% of GDP and 88% of export revenues in 2001. The
performance of the tobacco sector is key to short-term growth as
tobacco accounts for over 50% of exports. The economy depends on
substantial inflows of economic assistance from the IMF, the World
Bank, and individual donor nations. In late 2000, Malawi was
approved for relief under the Heavily Indebted Poor Countries (HIPC)
program. The government faces strong challenges, including
developing a market economy, improving educational facilities,
facing up to environmental problems, dealing with the rapidly
growing problem of HIV/AIDS, and satisfying foreign donors that
fiscal discipline is being tightened. In 2005, the anticorruption
campaign championed by President MUTHARIKA may help encourage
investment and economic growth.
GDP (purchasing power parity):
$7.41 billion (2004 est.)
GDP - real growth rate:
4% (2004 est.)
GDP - per capita:
purchasing power parity - $600 (2004 est.)
GDP - composition by sector: agriculture: 54.8% industry: 19.2% services: 26% (2004 est.)
Labor force:
4.5 million (2001 est.)
Labor force - by occupation:
agriculture 90% (2003 est.)