Dr Ted Nakhumwa, EDF Board Chairperson
The Export Development Fund (EDF) has launched the first ever Malawi Trade Report 2025, a landmark publication that lays bare the country’s trade realities and charts a path toward resilience and competitiveness in a volatile global economy.
The report, themed “Resilience and Realignment: Tracking Malawi’s Trade in a Volatile Global Economy,” reveals sobering statistics: Malawi’s exports contracted by 7.1% to US$958.5 million in 2024, while imports surged to US$3.31 billion, leaving a trade deficit of US$2.36 billion. Inflation stood at 32.2%, and GDP growth slowed to 1.8%, underscoring the urgency for structural transformation.
Yet, amid these challenges, the report highlights glimmers of hope. Tobacco exports hit US$569.9 million, the highest in six years, while Malawi’s services sector particularly telecommunications and computer services grew from US$42 million in 2019 to US$154 million in 2023, signalling a shift toward digital trade.
Speaking at the launch, EDF Board Chairperson Dr. Ted Nankhumwa emphasized that Malawi’s future hinges on building industrial capacity and diversifying exports. “Our mission is centred on facilitating the expansion, innovation, and competitiveness of Malawian enterprises both locally and globally,” he said. EDF has already disbursed MK39 billion in trade support between 2024 and 2025, funding industrial parks, medicinal cannabis facilities, limestone mining, mega farms, and crocodile skin processing units. The Fund also formalized gold and gemstone trade worth US$64.7 million, injecting much-needed foreign exchange into the economy.
Hon. Dr. George Patridge, Minister of Industrialisation, Business, Trade and Tourism, wo officially launched the report echoed the call for urgent action. “Diversification is not optional. It is existential,” he said, urging stakeholders to leverage regional markets under the African Continental Free Trade Area (AfCFTA).
The report identifies US$218 million in untapped potential within SADC and COMESA, particularly in value-added products like soya-bean oilcake and cane sugar.
Both EDF and the Government have called on all key stakeholders including policymakers, financiers, and entrepreneurs to collaborate in building a resilient economy. “When Malawian businesses grow and become more competitive, our country as a whole succeeds,” Dr. Nankhumwa affirmed.
The inaugural Malawi Trade report has been produced by EDF in collaboration with the department of Economics from the University of Malawi. The launch event drew senior government officials, development partners, financial institutions and private sector leaders.