Malawi’s first-ever comprehensive trade report shows a 7.1% decline in overall trade in 2024, even as exports of services rose by 9%.

Compiled by the Export Development Fund in collaboration with the University of Malawi’s Department of Economics, the report estimates total exports at $958.5 million, while imports reached $3.31 billion, leaving a trade deficit of $2.36 billion.

At the launch, Minister of Industrialisation, Business, Trade and Tourism George Patridge voiced concern over the underutilisation of policy tools designed to boost production and exports.

“Many policy instruments that could drive production and exports are currently idle and need to be operationalised,” Patridge said. “It is crucial that duty bearers focus on results to support private sector productivity.”

–ChannelAfrica–