Madagascar: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Agriculture provides for 25% of the country's GDP and employs 80% of the population. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): China, France, and United States |
| Top Industries Source: CIA World Factbook | Meat Processing; Seafood; Soap; Breweries |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $46,494,497,009 (2021) |
| GDP Growth Rate (annual %) | 4.402% (2021) |
| GDP Per Capita, PPP (current international) | $1,608 (2021) |
GDP Country Rank 117/197 (2021)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 5.812% (2021) |
| External debt stocks, total (DOD, current US$) | $5,347,115,135 (2021) |
| Total tax rate (% of commercial profits) | 38.3% (2019) |
| Real Interest Rate (5 year average %) | 38.07% (2021) |
| Manufacturing, value added (% of GDP) | 9.725% (2020) |
| Current Account Balance (BoP, current US$) | ($732,252,452) (2021) |
Labor and Employment [1]
| Labor Force, Total | 14,813,115 (2021) |
| Employment in Agriculture (% of total employment) | 63.826% (2020) |
| Employment in Industry (% of total employment) | 9.06% (2020) |
| Employment in Services (% of total employment) | 27.115% (2020) |
| Unemployment Rate | 2.594% (2021) |
Trade [1]
| Imports of goods and services (current US$) | $4,254,240,707 (2021) |
| Exports of goods and services (current US$) | $3,042,228,929 (2021) |
| Total Merchandise Trade (% of GDP) | 49.293% (2021) |
| FDI, net inflows (BoP, current US$) | $300,174,076 (2021) |
| Commercial Service Exports (current US$) | $600,304,155 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Madagascar’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.