Malawi Exports Tumble 20.1% in First Half of 2024, Trade Report Shows
The report highlights ongoing challenges in Malawi's trade sector, suggesting potential structural economic pressures
LILONGWE, MALAWI— Malawi's exports plunged 20.1% in the first half of 2024, with tobacco and agricultural products driving the decline, according to a National Statistical Office’s recent report, writes Benson Kamonjola.
Exports dropped from $322.5 million in the same period last year to $257.8 million, while imports decreased 4.2% to $1,414.6 million, the study found.
Tobacco remained the primary export, generating $83.3 million and representing 32.9% of total exports. Tea and coffee exports reached $43.3 million, accounting for 17.1% of outbound trade.
Major import categories included mineral fuels at $254.7 million (17.9%), fertilizers at $122.7 million (8.6%), and pharmaceutical products at $88.2 million (6.3%).
Economic expert Ryan Kabambe urged government intervention to boost export value.
"There must be deliberate measures to assist local manufacturers in exporting high-value goods to generate more revenue," Kabambe said.
Primary export destinations included South Africa, the United Kingdom, and Zimbabwe.
The report highlights ongoing challenges in Malawi's trade sector, suggesting potential structural economic pressures.