Malawi Real Effective Exchange Rate
Real effective exchange rate index PX.REX.REER
Malawi's real effective exchange rate was 84.16 in 2024, ranked 14th globally. This represents a 15.4% decrease from 2023. Data from BIS, covering 1980–2024.
Overview
Malawi's real effective exchange rate stood at 84.16 in 2024, a decline of +15.37 from 2023. Based on recent trends, this figure is projected to reach 88.99 by 2025. Malawi ranked 14th globally.
Malawi’s real effective exchange rate (REER) has fallen sharply from an early‑period high of 214.58 in 1984 to a deep trough of 65.35 in 2013, reflecting a long‑run loss of external competitiveness that began in the 1980s and accelerated after the 2000s. Over the 45‑year sample, the index has declined to 84.16 in 2024, placing the country 14th in the world and virtually level with Chile, which records the same REER value. The sustained depreciation suggests that Malawi’s export basket has become relatively cheaper in foreign currency terms, a development that has supported modest growth in agricultural exports but has also heightened vulnerability to commodity‑price swings. Compared with peers such as Sweden (84.55) and Malaysia (80.96), Malawi’s REER remains modestly weaker, indicating further room for appreciation should fiscal consolidation and productivity gains materialise. Continued improvements in trade diversification and macro‑stability will be crucial to steer the REER trajectory upward.
Data & projection
| Year | Real Effective Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 86.66 | - | - |
| 2026* trend | 87.83 | - | - |
| 2025* trend | 88.99 | - | - |
| 2024 | 84.16 | −15.37 | #14 |
| 2023 | 99.53 | +5.66 | #45 |
| 2022 | 93.87 | +3.69 | #31 |
| 2021 | 90.18 | −4.47 | #23 |
| 2020 | 94.65 | +7.76 | #28 |
| 2019 | 86.89 | +7.93 | #14 |
| 2018 | 78.96 | +4.37 | #5 |
| 2017 | 74.59 | +4.98 | #1 |
| 2016 | 69.62 | −10.79 | #1 |
| 2015 | 80.40 | +9.75 | #10 |
| 2014 | 70.65 | +5.30 | #2 |
| 2013 | 65.35 | −13.15 | #1 |
| 2012 | 78.50 | −18.25 | #1 |
| 2011 | 96.74 | −3.26 | #18 |
| 2010 | 100.00 | −7.20 | #70 |
Detected Pattern
Analysis
Malawi matched the Currency Crisis Pattern pattern in 2016. Historically, 27% of countries showing this pattern (35 out of 128) saw real effective exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Malawi's real effective exchange rate was 84.16 in 2024. Ranked 14th globally. This represents a 15.4% decrease from the previous year.
Malawi's real effective exchange rate peaked at 214.58 in 1984.
The lowest real effective exchange rate in Malawi was 65.35 in 2013.
Malawi ranks 14th globally in real effective exchange rate as of 2024.
The World Bank indicator code is PX.REX.REER. Data sourced from BIS.
Malawi's real effective exchange rate is projected to reach 88.99 by 2025 based on trend extrapolation.
The real effective exchange rate of Malawi in 2024 was 84.16. This ranks 14th in the world.
Cite this page
@misc{historysaid_malawi_reer,
title = {Malawi Real Effective Exchange Rate},
url = {https://historysaid.com/malawi/reer/},
publisher = {HistorySaid},
year = {2026}
}