Economy of Madagascar
Population: 26.26 M (2018)
GDP per Capita: 528 USD (2018)
13,850 M.

GDP USD

(2018)

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3,970 M.

EXPORTS USD

(2018)

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4,690 M.

IMPORTS USD

(2018)

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45.72 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 4.56 % (2018)
GDP of 2010 USD USD 12.90 B. (2018)
GDP Current USD USD 13.85 B. (2018)
GDP per Capita Current USD USD 528 (2018)
GDP per capita, PPP USD 1,678 (2018)
GDP per Capita, 2010 USD USD 490 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 14.33 % (2018)
Government Spending USD 1.99 B. (2018)
Government Debt % GDP 45.72 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 72.83 (2018)
Trade Openness 62.50 % (2018)
Exports of Goods and Services % GDP 28.68 % (2018)
Exports Goods & Services USD 3.97 B. (2018)
Exports Annual Growth 4.56 % (2018)
Imports as % GDP 33.82 % (2018)
Total Imports USD 4.69 B. (2018)
Foreign Direct Investment % GDP 4.42 % (2018)
Foreign Direct Investment USD 0.61 B. (2018)
Current Account Balance % GDP USD 0.58 % (2018)
Current Account Balance USD 0.08 B. (2018)
Trade Balance % GDP -5.14 % (2018)
Trade Balance USD -0.49 B. (2018)
Foreign Exchange Reserves incl Gold USD 1.74 B. (2018)
Remittances % GDP 3.07 % (2018)
Remittances USD 395 M. (2018)
Balance of Payments USD 14 M. (2016)

Labor Market

Indicator Value
Labor Force 13.91 M. (2019)
Unemployment Rate 1.64 % (2019)
Unemployment Rate Females 1.85 % (2019)
Unemployment Rate Males 1.67 % (2019)
Youth Unemployment (ages 15-24) 2.69 % (2019)
Labor Force Participation Rate 86.50 % (2019)
Labor Force (Percent Female) 48.89 % (2019)
Female Labor Force Participation Rate 83.70 % (2019)
Male Labor Force Participation Rate 89.35 % (2019)
Dependent People 77.48 % (2018)

Agriculture Sector

Indicator Value
Forest Area 21.40 % (2016)
Forest Area km² 124,570 km² (2016)
Agricultural Land 71.18 % (2016)
Agricultural Land km² 414,150 km² (2016)
Employment 67.88 % (2019)
Value added % GDP 23.84 % (2018)
Agriculture Value added USD 3.30 B. (2018)
Crop Production Index 117.00 (2016)
Precipitation 1,513 mm (2014)
Arable Land 6 % (2016)
Cereal Yield 3,779 kg/hectare (2017)
Food production index 121 (2016)
Rural Population 63 % (2018)
Fertilizer use of Arable Land 5 kg/hectare (2016)
Livestock Production Index 124 (2016)
Economy of Madagascar

According to the World Bank and its latest published data, the economy of the Madagascar presents a growth rate of 4.56 % (2018) to the previous year.

With a population that reaches 26.26 M (2018) and a gross domestic product of USD 13.85 B. (2018), it translates a Gross Domestic Product per Capita of USD 528 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Madagascar also has a workforce of 13.91 M. (2019) with an unemployment rate of 1.64 % (2019), where women represent 1.85 % (2019) and men 1.67 % (2019), the unemployment rate for young people between 15-24 years old stood at 2.69 % (2019). The total number of dependent people stands at 77.48 % (2018).

The central government spent 14.33 % (2018) of its gross domestic product that year, which in absolute terms is USD 1.99 B. (2018). Its consolidated public debt reached 45.72 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Madagascar exported USD 3.97 B. (2018), which represents 28.68 % (2018) of its gross domestic product, in that same sense its imports reached USD 4.69 B. (2018) with a direct foreign investment of USD 0.61 B. (2018).

Madagascar has a forest area of 124,570 km² (2016), which represents 21.40 % (2016) of its total area, an average rainfall of 1,513 mm (2014) per year and a population of 63 % (2018) living in rural areas. With a total area of 414,150 km² (2016) available for agriculture and 67.88 % (2019) of its employments, the agricultural sector contributes to the economy of the Madagascar about USD 3.30 B. (2018) (23.84 % (2018) of its GDP).