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• GDP: US$2.2 billion (2006).
• Main exports: Tobacco, tea and coffee, sugar, peanuts and wood products.
• Main imports: Food, petroleum products, semi-manufactured goods, consumer goods and transportation equipment.
• Main trade partners: South Africa, Germany, USA and Zimbabwe.
• Main exports: Tobacco, tea and coffee, sugar, peanuts and wood products.
• Main imports: Food, petroleum products, semi-manufactured goods, consumer goods and transportation equipment.
• Main trade partners: South Africa, Germany, USA and Zimbabwe.
Economy
The economy is almost entirely agricultural but the manufacturing industry now accounts for about 15% of economic output. Manufacturing is concentrated in light industrial import substitution projects such as textiles, chemicals, agricultural implements and processed foodstuffs. Tourism is intended to become a major source of foreign exchange but this will depend on improvements in basic infrastructure and political stability in the region.
In 2006, the economy grew by 6.4%, while inflation was 14%. Recent economic policy has followed an orthodox course of privatisation, deregulation and government spending cuts. The latter have had a severe impact on the country's already limited basic services, especially healthcare. Between one-third and one-half of the working population are thought to be infected with HIV/AIDS, with the inevitable economic consequences.
Malawi is normally self-sufficient in food, especially maize, the main staple. But it also has a vast balance of payments deficit and is heavily dependent on foreign aid, both bilateral and from the World Bank.
In 2006, the economy grew by 6.4%, while inflation was 14%. Recent economic policy has followed an orthodox course of privatisation, deregulation and government spending cuts. The latter have had a severe impact on the country's already limited basic services, especially healthcare. Between one-third and one-half of the working population are thought to be infected with HIV/AIDS, with the inevitable economic consequences.
Malawi is normally self-sufficient in food, especially maize, the main staple. But it also has a vast balance of payments deficit and is heavily dependent on foreign aid, both bilateral and from the World Bank.
Business Etiquette
Suits or a jacket and tie are suitable for business meetings in cities. Similar to the European system, appointments should generally be made and business cards are used. Offices tend to open early in Malawi. Best months for business visits are May to July and September to November.
Office hours: Mon-Fri 0730-1700.
Office hours: Mon-Fri 0730-1700.
Conferences & Conventions
Malawi’s only dedicated conference centre is the Kwacha International Conference Centre in Blantyre, with seating for up to 500 people. Details of this and hotels with conference facilities can be obtained from the Malawi Tourism (see Contact Addresses).
Business Contacts
Malawi Confederation of Chambers of Commerce and Industry
Masauko Chipembere Highway, Chichiri Trade Fair Ground, PO Box 258, Blantyre, Malawi
Tel: 01 871 988.
Website: www.mccci.org
Masauko Chipembere Highway, Chichiri Trade Fair Ground, PO Box 258, Blantyre, Malawi
Tel: 01 871 988.
Website: www.mccci.org