Patridge pushes for urgent overhaul of Malawi’s trade strategy as new report exposes deepening deficit

By Burnett Munthali

Minister of Industrialisation, Business, Trade and Tourism George Patridge has urged authorities to overhaul Malawi’s trade strategy to halt the country’s widening trade deficit.

He made the call on Tuesday during the launch of the inaugural Malawi Trade Report 2025, organised by the Export Development Fund (EDF) at the Bingu International Conference Centre in Lilongwe.

The event brought together senior government officials, development partners, members of the private sector and the academic community.

Patridge warned that Malawi will continue to lose ground in international trade if existing policy tools remain unimplemented.

He noted with concern that while Malawi’s exports dropped by 7.1 percent in 2024, imports rose to about US$3.3 billion, pushing the trade deficit to roughly US$2.4 billion.

He said the country must now focus on structural transformation by expanding production capacity and promoting deeper value addition across key sectors.

Patridge also stressed the need to unlock new market opportunities, particularly within regional trading blocs where Malawi stands to benefit from competitive advantages.

EDF Board Chairperson Ted Nankhumwa told delegates that the Malawi Trade Report 2025 aims to provide evidence-based insights to guide government decision-making.

He said the findings should help shape more strategic interventions across both the public and private sectors.

The private sector also welcomed the report, with financial services representative Willard Mpinganjira describing it as a valuable guide for identifying actionable opportunities.

Mpinganjira said the analysis gives businesses a clearer picture of areas where they can invest and meaningfully contribute to export growth.

According to the report, Malawi remains heavily dependent on primary agricultural exports and continues to underperform in global trade rankings.

It also highlights emerging growth opportunities in service sectors such as ICT and transport, which have shown strong potential in recent years.