Fuel push up imports bill

Malawi spent $126.1 million on importing diesel and petrol in June 2026, marking a sharp increase compared to same month last year. This highlights the growing pressure fuel imports continue to place on the country's import bill. The latest National Statistical Office (NSO) International Merchandise Trade Statistics Bulletin shows that diesel was Malawi's biggest import commodity in June 2026, valued at $75.6 million, while petrol imports amounted to $50.5 million. Together, the two products accounted for 31.7 percent of the country's total imports for the month. The report says Malawi's total imports rose by 27.6 percent to $397.4 million in June 2026 from $311.3 million in June 2025. "The three main import commodities included Diesel at $75.6 million (19 percent), Petrol at $50.5 million (12.7 percent), and Vehicles at $22.3 million (5.6 percent)," the NSO report reads. In comparison, the NSO reported that in June 2025, petrol imports were valued at $32.9 million, while diesel imports stood at $25.6 million, giving a combined fuel import bill of $58.5 million. Fuel imports have therefore more than doubled within a year, rising by about $67.6 million to $126.1 million in June 2026. In an interview, Economics Association of Malawi (Ecama) president Bertha Chikadza said the sharp increase means Malawi now requires substantially more foreign currency to finance fuel imports, piling more pressure on already strained forex reserves. She said because foreign exchange reserves have remained below the recommended three months of import cover for more than five years, the country is struggling to meet growing demand for foreign currency. According to Chikadza, the rising fuel import bill could also crowd out imports of other essential goods such as medicines and fertilisers while adding pressure on inflation as higher fuel costs and exchange rate depreciation are passed on to consumers. "Malawi should reduce its dependence on imported fuel by investing in efficient public transport, expanding the railway network, encouraging the adoption of electric vehicles and strengthening the country's electricity infrastructure to support the transition," Chikadza said. In a separate interview, economist Marvin Banda said the doubling of the fuel import bill should concern policymakers because it exposes Malawi's heavy dependence on imported energy and deepens pressure on the country's fragile foreign exchange position. He said higher fuel imports, coupled with forex shortages and global geopolitical tensions have increased the landed cost of fuel and made the economy more vulnerable to external shocks. "Rising fuel prices increase transport and production costs across almost every sector, driving inflation and reducing households' purchasing power. "Malawi's long-term solution lies in investing in renewable energy, improving public transport, promoting energy efficiency and expanding exports to generate enough foreign exchange to finance essential fuel imports. Transforming the country's productive capacity and diversifying exports will be key to reducing recurring forex crises," Banda said.

WIRE — Malawi spent $126.1 million on importing diesel and petrol in June 2026, marking a sharp increase compared to same month last year. This highlights the growing pressure fuel imports continue to place on the country's import bill. The latest National Statistical Office (NSO) International Merchandise Trade Statistics Bulletin shows that diesel was Malawi's biggest import commodity in June 2026, valued at $75.6 million, while petrol imports amounted to $50.5 million. Together, the two products accounted for 31.7 percent of the country's total imports for the month. The report says Malawi's total imports rose by 27.6 percent to $397.4 million in June 2026 from $311.3 million in June 2025. "The three main import commodities included Diesel at $75.6 million (19 percent), Petrol at $50.5 million (12.7 percent), and Vehicles at $22.3 million (5.6 percent)," the NSO report reads. In comparison, the NSO reported that in June 2025, petrol imports were valued at $32.9 million, while diesel imports stood at $25.6 million, giving a combined fuel import bill of $58.5 million. Fuel imports have therefore more than doubled within a year, rising by about $67.6 million to $126.1 million in June 2026. In an interview, Economics Association of Malawi (Ecama) president Bertha Chikadza said the sharp increase means Malawi now requires substantially more foreign currency to finance fuel imports, piling more pressure on already strained forex reserves. She said because foreign exchange reserves have remained below the recommended three months of import cover for more than five years, the country is struggling to meet growing demand for foreign currency. According to Chikadza, the rising fuel import bill could also crowd out imports of other essential goods such as medicines and fertilisers while adding pressure on inflation as higher fuel costs and exchange rate depreciation are passed on to consumers. "Malawi should reduce its dependence on imported fuel by investing in efficient public transport, expanding the railway network, encouraging the adoption of electric vehicles and strengthening the country's electricity infrastructure to support the transition," Chikadza said. In a separate interview, economist Marvin Banda said the doubling of the fuel import bill should concern policymakers because it exposes Malawi's heavy dependence on imported energy and deepens pressure on the country's fragile foreign exchange position. He said higher fuel imports, coupled with forex shortages and global geopolitical tensions have increased the landed cost of fuel and made the economy more vulnerable to external shocks. "Rising fuel prices increase transport and production costs across almost every sector, driving inflation and reducing households' purchasing power. "Malawi's long-term solution lies in investing in renewable energy, improving public transport, promoting energy efficiency and expanding exports to generate enough foreign exchange to finance essential fuel imports. Transforming the country's productive capacity and diversifying exports will be key to reducing recurring forex crises," Banda said.

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