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Madagascar Economy 2017
https://theodora.com/wfbcurrent/madagascar/madagascar_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Madagascar Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing roughly 80% of the population. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns.After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization until the onset of a political crisis, which lasted from 2009 to 2013. The free market strategy had placed the country on a slow and steady growth path from an extremely low starting point. Exports of apparel boomed after gaining duty-free access to the US in 2000; 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, a sharp fall in textile production, and a loss of more than 100,000 jobs.Madagascar regained AGOA access in January 2015 following the democratic election of a new president the previous year. In November 2015, the International Monetary Fund (IMF) approved a Rapid Credit Facility to Madagascar worth about $42.1 million to help the government meet its balance of payments needs. The IMF also approved a staff monitoring program to guide policy implementation and indicated that Madagascar must demonstrate the capability to sustain reforms to qualify for future requests for a credit facility.

GDP (purchasing power parity):
$37.49 billion (2016 est.) $36 billion (2015 est.) $34.91 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 119
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.74 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2016 est.) 3.1% (2015 est.) 3.3% (2014 est.)
country comparison to the world: 58
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,500 (2016 est.) $1,500 (2015 est.) $1,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 217
[see also: GDP - per capita country ranks ]

Gross national saving:
13% of GDP (2016 est.) 11.2% of GDP (2015 est.) 15.3% of GDP (2014 est.)
country comparison to the world: 132
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 82.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 15.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 31.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -42.8% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 24.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 16.3%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 58.9% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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, mining

Industrial production growth rate:
3.7% (2016 est.)
country comparison to the world: 60
[see also: Industrial production growth rate country ranks ]

Labor force:
12.98 million (2016 est.)
country comparison to the world: 44
[see also: Labor force country ranks ]

Unemployment rate:
NA% (2015 est.) 3.6% (2014 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
75.3% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 34.7% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
47.5 (2001) 38.1 (1999)
country comparison to the world: 26
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.171 billion
[see also: Budget revenues country ranks ]
expenditures: $1.616 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
12% of GDP (2016 est.)
country comparison to the world: 204
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.6% of GDP (2016 est.)
country comparison to the world: 151
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
9.2% (2016 est.) 7.4% (2015 est.)
country comparison to the world: 203
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2010)
country comparison to the world: 80
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
62% (31 December 2016 est.) 60% (31 December 2015 est.)
country comparison to the world: 1
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.527 billion (31 December 2016 est.) $1.375 billion (31 December 2015 est.)
country comparison to the world: 139
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.745 billion (31 December 2015 est.) $2.399 billion (31 December 2014 est.)
country comparison to the world: 145
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.914 billion (31 December 2016 est.) $1.645 billion (31 December 2015 est.)
country comparison to the world: 140
[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:
-$223 million (2016 est.) -$186 million (2015 est.)
country comparison to the world: 87
[see also: Current account balance country ranks ]

Exports:
$2.266 billion (2016 est.) $2.238 billion (2015 est.)
country comparison to the world: 137
[see also: Exports country ranks ]

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

Exports - partners:
France 15.2%, US 12.7%, China 7.1%, South Africa 5.9%, Japan 5.5%, Netherlands 5.4%, Germany 5.1%, Belgium 5%, India 4.4% (2015)

Imports:
$2.717 billion (2016 est.) $2.683 billion (2015 est.)
country comparison to the world: 146
[see also: Imports country ranks ]

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

Imports - partners:
China 24.8%, France 10.3%, Bahrain 5.6%, India 5.5%, Kuwait 4.5%, Mauritius 4.5%, South Africa 4.3% (2015)

Reserves of foreign exchange and gold:
$780.4 million (31 December 2016 est.) $832 million (31 December 2015 est.)
country comparison to the world: 131
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.007 billion (31 December 2016 est.) $3.332 billion (31 December 2015 est.)
country comparison to the world: 136
[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 - 3,243.4 (2016 est.) 2,933.5 (2015 est.) 2,933.5 (2014 est.) 2,414.8 (2013 est.) 2,195 (2012 est.)


NOTE: The information regarding Madagascar on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Madagascar Economy 2017 information contained here. All suggestions for corrections of any errors about Madagascar Economy 2017 should be addressed to the CIA.




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