By Wezzie Gausi:
Malawi’s foreign exchange problems are being worsened by a narrow export base, with tobacco alone accounting for more than half of the country’s exports over the past five years, economists say.
In its September 2026 economic brief, titled ‘Beyond Tobacco: Navigating the Path to a Stronger Foreign Exchange Reserve Position’, Economics Association of Malawi (Ecama) says Malawi’s merchandise export value in 2025 was 10 percent lower than in 2021 while tobacco accounted for 55 percent of total exports during the five-year period.
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