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Madagascar

Headline economic indicators for Madagascar, with the most recent official readings.

Prices

Prices — Madagascar
Indicator Value Change
Inflation rate · 8.1% +0.44 (+5.7%)
Consumer price index · 280.8 +20.92 (+8.1%)
GDP deflator inflation · 8.4% +0.94 (+12.7%)

GDP

GDP — Madagascar
Indicator Value Change
GDP growth rate · 3.0% -1.32 (-30.5%)
GDP per capita · 599.27 +48.89 (+8.9%)
GDP per capita, long-run history · 1,367 +23.65 (+1.8%)
GDP · 19,620,352,035.79 +2,027,519,340 (+11.5%)
GDP, PPP · 63,925,658,752 +3,554,596,079 (+5.9%)
GDP per capita, PPP · 1,952 +63.82 (+3.4%)
GDP per capita growth · 0.6% -1.25 (-69.0%)
GNI per capita · 560 +40.00 (+7.7%)
Agriculture to GDP · 21.7% -0.22 (-1.0%)
Industry to GDP · 23.9% +0.98 (+4.3%)
Manufacturing to GDP · 13.1% +0.11 (+0.8%)
Services to GDP · 48.8% -0.47 (-1.0%)
Household consumption to GDP · 72.8% +1.61 (+2.3%)
Gross capital formation to GDP · 24.1% +0.60 (+2.5%)
Gross savings to GDP · 16.5% -1.02 (-5.8%)

Labour

Labour — Madagascar
Indicator Value Change
Unemployment rate · 3.0% -0.01 (-0.3%)
Labour force participation rate · 85.5% +0.02 (+0.0%)
Female labour force participation rate · 82.9% -0.00 (-0.0%)
Youth unemployment rate · 5.2% -0.21 (-3.9%)
Employment to population ratio · 82.9% +0.03 (+0.0%)
Employment in agriculture · 69.2% -0.31 (-0.4%)
Employment in industry · 9.9% +0.04 (+0.4%)
Employment in services · 20.9% +0.27 (+1.3%)

Money

Money — Madagascar
Indicator Value Change
Real interest rate · 47.6% -1.30 (-2.7%)
Broad money to GDP · 27.3% +0.45 (+1.7%)
Private sector credit to GDP · 16.5% -0.45 (-2.7%)
Lending rate · 60.0% +0.00 (+0.0%)
Bank deposit rate · 12.1% -0.51 (-4.0%)
Bank nonperforming loans · 7.6% -0.11 (-1.4%)
Official exchange rate · 4,529.75 +4.33 (+0.1%)

Trade

Trade — Madagascar
Indicator Value Change
Current account to GDP · -5.2% -1.20 (-30.0%)
Exports to GDP · 21.3% -2.67 (-11.1%)
Imports to GDP · 32.9% -0.62 (-1.9%)
Trade to GDP · 54.2% -3.30 (-5.7%)
Exports of goods and services · 4,185,661,511.35 -38,011,327 (-0.9%)
Imports of goods and services · 6,456,688,115.47 +557,969,053 (+9.5%)
Trade balance, goods and services (annual) · -1,827,289,960.93 -505,059,878 (-38.2%)
Current account balance (annual) · -1,019,956,805.15 -316,372,276 (-45.0%)
Foreign direct investment to GDP · 4.5% +1.09 (+31.5%)
Remittances received to GDP · 3.1% +0.83 (+36.0%)
Total reserves, including gold · 2,784,591,092.62 +152,610,517 (+5.8%)
Reserves in months of imports · 5.5 +0.05 (+0.9%)
External debt to GNI · 39.2% -2.20 (-5.3%)

Government

Government — Madagascar
Indicator Value Change
Government revenue to GDP · 12.2% +1.57 (+14.7%)
Government expense to GDP · 11.0% +1.11 (+11.2%)
Tax revenue to GDP · 10.9% +1.43 (+15.0%)
Government budget balance to GDP · -1.9% +2.63 (+58.0%)
Government consumption to GDP · 14.6% -0.15 (-1.0%)
Education spending to GDP · 3.0% -0.02 (-0.7%)
Health spending to GDP · 3.4% +0.28 (+8.9%)

Demography

Demography — Madagascar
Indicator Value Change
Population · 32,740,678 +775,722 (+2.4%)
Population, long-run history · 28,237 +663.74 (+2.4%)
Population growth · 2.4% -0.04 (-1.5%)
Life expectancy · 63.8 +0.20 (+0.3%)
Fertility rate · 3.91 -0.06 (-1.5%)
Birth rate · 31.7 -0.38 (-1.2%)
Death rate · 7.5 -0.06 (-0.8%)
Urban population share · 32.9% +0.47 (+1.4%)
Population aged 65 and over · 3.5% +0.07 (+2.0%)
Under-five mortality rate · 62.4 -1.20 (-1.9%)
Population density · 54.9 +1.32 (+2.5%)
Net migration · -2,227 -432.00 (-24.1%)
Gini index · 36.8 -5.80 (-13.6%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Madagascar; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.