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Madagascar Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Madagascar Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 20, 2014

Economy - overview:
After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization that has been undermined since the start of the political crisis. This strategy placed the country on a slow and steady growth path from an extremely low level. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel boomed in recent years primarily due to duty-free access to the US; however, Madagascar's failure to comply with the requirements of the African Growth and Opportunity Act (AGOA) led to the termination of the country's duty-free access in January 2010 and a sharp fall in textile production. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. The current political crisis, which began in early 2009, has dealt additional blows to the economy. Tourism dropped more than 50% in 2009 compared with the previous year, and many investors are wary of entering the uncertain investment environment. Growth was slow during 2010 to 2013 although expansion in mining and agricultural sectors is expected to contribute to more growth in 2014. International organizations and foreign donors are expected to resume development aid to Madagascar once RAJAONARIMAMPIANINA appoints a new government.

GDP (purchasing power parity):
$22.03 billion (2013 est.)
country comparison to the world: 129

$21.47 billion (2012 est.)
$21.06 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$10.53 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.6% (2013 est.)
country comparison to the world: 126

1.9% (2012 est.)
1.8% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,000 (2013 est.)
country comparison to the world: 220

$1,000 (2012 est.)
$1,000 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
-3.7% of GDP (2013 est.)
country comparison to the world: 153

-5.8% of GDP (2012 est.)
-7.2% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 84%
government consumption: 12.7%
investment in fixed capital: 14%
investment in inventories: 0%
exports of goods and services: 24.7%
imports of goods and services: -35.3%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 27.3%
industry: 16.4%
services: 56.3% (2013 est.)

Agriculture - products:
coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava (manioc, tapioca), beans, bananas, peanuts; livestock products

Industries:
meat processing, seafood, soap, beer, leather, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum, tourism

Industrial production growth rate:
4% (2013 est.)
country comparison to the world: 73
[see also: Industrial production growth rate country ranks ]

Labor force:
9.504 million (2007)
country comparison to the world: 50
[see also: Labor force country ranks ]

Population below poverty line:
50% (2004 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.2%
highest 10%: 34.7% (2010 est.)

Distribution of family income - Gini index:
47.5 (2001)
country comparison to the world: 26

38.1 (1999)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.113 billion
expenditures: $2.356 billion (2013 est.)

Taxes and other revenues:
20.1% of GDP (2013 est.)
country comparison to the world: 165
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.3% of GDP (2013 est.)
country comparison to the world: 95
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
8.8% (2013 est.)
country comparison to the world: 202

6.4% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2010 est.)

NA% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
44% (31 December 2013 est.)
country comparison to the world: 1

56.25% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.839 billion (31 December 2013 est.)
country comparison to the world: 128

$1.492 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.163 billion (31 December 2013 est.)
country comparison to the world: 143

$2.357 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.663 billion (31 December 2013 est.)
country comparison to the world: 137

$1.245 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.945 billion (2013 est.)
country comparison to the world: 141

-$1.989 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$644.4 million (2013 est.)
country comparison to the world: 169

$592.1 million (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
coffee, vanilla, shellfish, sugar, cotton cloth, clothing, chromite, petroleum products

Exports - partners:
France 23.4%, China 6.6%, US 6.6%, Singapore 5.9%, Canada 5.5%, Germany 5.4%, Indonesia 5.3%, India 5.2%, South Africa 4.5% (2012)

Imports:
$2.794 billion (2013 est.)
country comparison to the world: 151

$2.755 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
capital goods, petroleum, consumer goods, food

Imports - partners:
China 17.7%, France 12.4%, South Africa 5.3%, India 5.1%, Mauritius 5%, Bahrain 4.7%, Kuwait 4.6% (2012)

Reserves of foreign exchange and gold:
$1.249 billion (31 December 2013 est.)
country comparison to the world: 131

$1.191 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.361 billion (31 December 2013 est.)
country comparison to the world: 131

$3.116 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Malagasy ariary (MGA) per US dollar -

2,227.8 (2013 est.)
2,195 (2012 est.)
2,090 (2010 est.)
1,956.2 (2009)
1,654.78 (2008)


NOTE: 1) The information regarding Madagascar on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Madagascar Economy 2015 information contained here. All suggestions for corrections of any errors about Madagascar Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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