Madagascar - Economic Indicators

Economic Overview

Madagascar is a free market economy with many untapped natural resources, but no capital markets, a weak judicial system, poorly enforced contracts, and rampant government corruption. The economy faces long-term challenges to improve education, healthcare, and the environment. 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 bushfire and the use of firewood as the primary source of fuel, are serious concerns. After discarding...

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GDP Reference Last Previous Units Frequency
Nominal Fixed Investment (gross fixed capital formation) 2016 4,848,856,073,559 3,732,255,301,741 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2016 175,916,227,053 156,613,163,879 NCU Annual
Real Investment 2016 175,914,227,153 156,613,163,879 NCU Annual
Private Consumption 2016 24,430,145,643,790 22,742,773,994,016 MGF Annual
Nominal Gross Domestic Product 2016 31,769,182,612,521 28,584,819,276,008 MGF Annual
Investment 2016 4,839,390,501,888 3,732,255,301,741 MGF Annual
Real Gross Domestic Product 2015 113.78 110.43 Index 2005=100 Annual
Government Consumption 2015 3,303 2,676 Bil. MGF Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Dec 2017 167.76 165.5 2010=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 9,685,417 9,375,455 # Annual
Unemployment Rate 2017 2.4 2.2 % of total labor force Annual
Labor Force 2016 12,618,378 12,238,163 # Annual
Wage & Salaries 2014 1,445,590,000,000 1,341,654,000,000 NCU Annual
Unemployment 2012 61.49 Ths. Annual
Labor Force Employment 2012 10,210 Ths. Annual
Total Employment 2012 10,210 Ths. Annual
Trade Reference Last Previous Units Frequency
Real Imports of Goods and Services 2016 216,220,217,092 203,991,833,973 NCU Annual
Real Exports of Goods and Services 2016 198,322,109,671 180,302,049,521 NCU Annual
Imports of Goods and Services 2016 11,302,481,068,016 10,156,407,935,412 MGF Annual
Exports of Goods and Services 2016 10,641,503,534,858 9,165,437,915,663 MGF Annual
Current Account Balance 2016 Q4 200,133,415 -127,149,618 USD, NSA Quarterly
Imports of Goods 2016 Q4 658,823,265 625,104,271 USD, NSA Quarterly
Balance of Goods 2016 Q4 -7,537,457 -141,942,153 USD, NSA Quarterly
Exports of Goods 2016 Q4 651,285,807 483,162,118 USD, NSA Quarterly
Government Reference Last Previous Units Frequency
Government Revenues 2014 2,617,165,000,000 2,480,101,800,000 NCU Annual
Government Budget Balance 2011 -1,703,110,000,000 -674,200,000,000 current LCU Annual
Markets Reference Last Previous Units Frequency
Treasury Bills (over 31 days) Mar 2018 5.45 6.07 % p.a., NSA Monthly
Money Market Rate Oct 2017 9 9.22 % p.a., NSA Monthly
Lending Rate Aug 2000 15 15 % Monthly
Business Reference Last Previous Units Frequency
Capacity Utilization 2013 62.8 % Annual
Demographics Reference Last Previous Units Frequency
Population 2016 24,894,551 24,234,088 # Annual
Birth Rate 2015 33.4 33.68 # per Ths. pop. Annual
Death Rate 2015 6.48 6.63 # per Ths. pop. Annual
Net Migration 2012 -7,500 # Annual

Factbook

Background

Background:
Madagascar was one of the last major landmasses on earth to be colonized by humans. The earliest settlers from present-day Indonesia arrived between A.D. 350 and 550. The island attracted Arab and Persian traders as early as the 7th century, and migrants from Africa arrived around A.D. 1000. Madagascar was a pirate stronghold during the late 17th and early 18th centuries, and served as a slave trading center into the 19th century. From the 16th to the late 19th century, a native Merina Kingdom dominated much of Madagascar. The island was conquered by the French in 1896 who made it a colony; independence was regained in 1960. During 1992-93, free presidential and National Assembly elections were held ending 17 years of single-party rule. In 1997, in the second presidential race, Didier RATSIRAKA, the leader during the 1970s and 1980s, was returned to the presidency. The 2001 presidential election was contested between the followers of Didier RATSIRAKA and Marc RAVALOMANANA, nearly causing secession of half of the country. In April 2002, the High Constitutional Court announced RAVALOMANANA the winner. RAVALOMANANA won a second term in 2006 but, following protests in 2009, handed over power to the military, which then conferred the presidency on the mayor of Antananarivo, Andry RAJOELINA, in what amounted to a coup d'etat. Following a lengthy mediation process led by the Southern African Development Community, Madagascar held UN-supported presidential and parliamentary elections in 2013. Former de facto finance minister Hery RAJAONARIMAMPIANINA won a runoff election in December 2013 and was inaugurated in January 2014.

Geography

Location:
Southern Africa, island in the Indian Ocean, east of Mozambique
Geographic coordinates:
20 00 S, 47 00 E
Map references:
Africa
Area:
total: 587,041 sq km
land: 581,540 sq km
water: 5,501 sq km
country comparison to the world: 48
Area - comparative:
almost four times the size of Georgia; slightly less than twice the size of Arizona
Land boundaries:
0 km
Coastline:
4,828 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or 100 nm from the 2,500-m isobath
Climate:
tropical along coast, temperate inland, arid in south
Terrain:
narrow coastal plain, high plateau and mountains in center
Elevation:
mean elevation: 615 m
elevation extremes: lowest point: Indian Ocean 0 m
highest point: Maromokotro 2,876 m
Natural resources:
graphite, chromite, coal, bauxite, rare earth elements, salt, quartz, tar sands, semiprecious stones, mica, fish, hydropower
Land use:
agricultural land: 71.1%
arable land 6%; permanent crops 1%; permanent pasture 64.1%
forest: 21.5%
other: 7.4% (2011 est.)
Irrigated land:
10,860 sq km (2012)
Population - distribution:
most of population lives on the eastern half of the island; significant clustering is found in the central highlands and eastern coastline
Natural hazards:
periodic cyclones; drought; and locust infestation
volcanism: Madagascar's volcanoes have not erupted in historical times
Environment - current issues:
soil erosion results from deforestation and overgrazing; desertification; surface water contaminated with raw sewage and other organic wastes; several endangered species of flora and fauna unique to the island
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
world's fourth-largest island; strategic location along Mozambique Channel

People & Society

Population:
25,054,161 (July 2017 est.)
country comparison to the world: 52
Nationality:
noun: Malagasy (singular and plural)
adjective: Malagasy
Ethnic groups:
Malayo-Indonesian (Merina and related Betsileo), Cotiers (mixed African, Malayo-Indonesian, and Arab ancestry - Betsimisaraka, Tsimihety, Antaisaka, Sakalava), French, Indian, Creole, Comoran
Languages:
French (official), Malagasy (official), English
Religions:
Christian, indigenous religionist, Muslim
Demographic profile:
Madagascar’s youthful population – just over 60% are under the age of 25 – and high total fertility rate of more than 4 children per women ensures that the Malagasy population will continue its rapid growth trajectory for the foreseeable future. The population is predominantly rural and poor; chronic malnutrition is prevalent, and large families are the norm. Many young Malagasy girls are withdrawn from school, marry early (often pressured to do so by their parents), and soon begin having children. Early childbearing, coupled with Madagascar’s widespread poverty and lack of access to skilled health care providers during delivery, increases the risk of death and serious health problems for young mothers and their babies.
Child marriage perpetuates gender inequality and is prevalent among the poor, the uneducated, and rural households – as of 2013, of Malagasy women aged 20 to 24, more than 40% were married and more than a third had given birth by the age of 18. Although the legal age for marriage is 18, parental consent is often given for earlier marriages or the law is flouted, especially in rural areas that make up nearly 65% of the country. Forms of arranged marriage whereby young girls are married to older men in exchange for oxen or money are traditional. If a union does not work out, a girl can be placed in another marriage, but the dowry paid to her family diminishes with each unsuccessful marriage.
Madagascar’s population consists of 18 main ethnic groups, all of whom speak the same Malagasy language. Most Malagasy are multi-ethnic, however, reflecting the island’s diversity of settlers and historical contacts (see Background). Madagascar’s legacy of hierarchical societies practicing domestic slavery (most notably the Merina Kingdom of the 16th to the 19th century) is evident today in persistent class tension, with some ethnic groups maintaining a caste system. Slave descendants are vulnerable to unequal access to education and jobs, despite Madagascar’s constitutional guarantee of free compulsory primary education and its being party to several international conventions on human rights. Historical distinctions also remain between central highlanders and coastal people.
Age structure:
0-14 years: 39.87% (male 5,035,160/female 4,952,909)
15-24 years: 20.34% (male 2,556,130/female 2,538,644)
25-54 years: 32.12% (male 4,022,698/female 4,025,038)
55-64 years: 4.38% (male 535,300/female 560,932)
65 years and over: 3.3% (male 374,770/female 452,580) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 80.1
youth dependency ratio: 75
elderly dependency ratio: 5.1
potential support ratio: 19.6 (2015 est.)
Median age:
total: 19.7 years
male: 19.5 years
female: 19.9 years (2017 est.)
country comparison to the world: 198
Population growth rate:
2.5% (2017 est.)
country comparison to the world: 20
Birth rate:
31.6 births/1,000 population (2017 est.)
country comparison to the world: 33
Death rate:
6.5 deaths/1,000 population (2017 est.)
country comparison to the world: 146
Net migration rate:
0 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 88
Population distribution:
most of population lives on the eastern half of the island; significant clustering is found in the central highlands and eastern coastline
Urbanization:
urban population: 36.4% of total population (2017)
rate of urbanization: 4.47% annual rate of change (2015-20 est.)
Major urban areas - population:
ANTANANARIVO (capital) 2.61 million (2015)
Sex ratio:
at birth: 1.03 male(s)/female
0-14 years: 1.02 male(s)/female
15-24 years: 1.01 male(s)/female
25-54 years: 1 male(s)/female
55-64 years: 0.95 male(s)/female
65 years and over: 0.83 male(s)/female
total population: 1 male(s)/female (2016 est.)
Mother's mean age at first birth:
19.5 years
note: median age at first birth among women 25-29 (2008/09 est.)
Maternal mortality rate:
353 deaths/100,000 live births (2015 est.)
country comparison to the world: 34
Infant mortality rate:
total: 41.2 deaths/1,000 live births
male: 45 deaths/1,000 live births
female: 37.3 deaths/1,000 live births (2017 est.)
country comparison to the world: 45
Life expectancy at birth:
total population: 66.3 years
male: 64.7 years
female: 67.8 years (2017 est.)
country comparison to the world: 175
Total fertility rate:
4.03 children born/woman (2017 est.)
country comparison to the world: 33
Contraceptive prevalence rate:
39.9% (2008/09)
Health expenditures:
3% of GDP (2014)
country comparison to the world: 181
Physicians density:
0.14 physicians/1,000 population (2012)
Hospital bed density:
0.2 beds/1,000 population (2010)
Drinking water source:
improved:
urban: 81.6% of population
rural: 35.3% of population
total: 51.5% of population
unimproved:
urban: 18.4% of population
rural: 64.7% of population
total: 48.5% of population (2015 est.)
Sanitation facility access:
improved:
urban: 18% of population
rural: 8.7% of population
total: 12% of population
unimproved:
urban: 82% of population
rural: 91.3% of population
total: 88% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.2% (2016 est.)
country comparison to the world: 93
HIV/AIDS - people living with HIV/AIDS:
31,000 (2016 est.)
country comparison to the world: 66
HIV/AIDS - deaths:
1,600 (2016 est.)
country comparison to the world: 58
Major infectious diseases:
degree of risk: very high
food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever
vectorborne diseases: malaria and dengue fever
water contact disease: schistosomiasis
animal contact disease: rabies (2016)
Obesity - adult prevalence rate:
5.3% (2016)
country comparison to the world: 179
Education expenditures:
2.1% of GDP (2013)
country comparison to the world: 150
Literacy:
definition: age 15 and over can read and write
total population: 64.7%
male: 66.7%
female: 62.6% (2015 est.)
School life expectancy (primary to tertiary education):
total: 11 years
male: 11 years
female: 10 years (2014)
Unemployment, youth ages 15-24:
total: 2.6%
male: 2.2%
female: 3% (2012 est.)
country comparison to the world: 133

Government

Country name:
conventional long form: Republic of Madagascar
conventional short form: Madagascar
local long form: Republique de Madagascar/Repoblikan'i Madagasikara
local short form: Madagascar/Madagasikara
former: Malagasy Republic
etymology: the name "Madageiscar" was first used by the 13th-century Venetian explorer Marco POLO, as a corrupted transliteration of Mogadishu, the Somali port with which POLO confused the island
Government type:
semi-presidential republic
Capital:
name: Antananarivo
geographic coordinates: 18 55 S, 47 31 E
time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
6 provinces (faritany); Antananarivo, Antsiranana, Fianarantsoa, Mahajanga, Toamasina, Toliara
Independence:
26 June 1960 (from France)
National holiday:
Independence Day, 26 June (1960)
Constitution:
history: previous 1992; latest passed by referendum 17 November 2010, promulgated 11 December 2010
amendments: proposed by the president of the republic in consultation with the cabinet or supported by a least two-thirds of both the Senate and National Assembly membership; passage requires at least three-fourths approval of both the Senate and National Assembly and approval in a referendum; constitutional articles including the form and powers of government, the sovereignty of the state, and the autonomy of Madagascar’s collectivities cannot be amended (2017)
Legal system:
civil law system based on the old French civil code and customary law in matters of marriage, family, and obligation
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: the father must be a citizen of Madagascar; in the case of a child born out of wedlock, the mother must be a citizen
dual citizenship recognized: no
residency requirement for naturalization: unknown
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Hery Martial RAJAONARIMAMPIANINA Rakotoarimana (since 25 January 2014)
head of government: Prime Minister Olivier Mahafaly SOLONANDRASANA (since 13 April 2016); Prime Minister Jean RAVELONARIVO (since 17 January 2015) resigned 8 April 2016
cabinet: Council of Ministers appointed by the prime minister
elections/appointments: president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term (eligible for a second term); election last held on 25 October and 20 December 2013 (next to be held in 2018); prime minister nominated by the National Assembly, appointed by the president
election results: Hery Martial RAJAONARIMAMPIANINA elected president in second round; percent of vote - Hery Martial RAJAONARIMAMPIANINA (HVM) 53.5%, Jean Louis ROBINSON (AVANA) 46.5%
note: on 17 March 2009, democratically elected President Marc RAVALOMANANA stepped down, handing the government over to the military, which in turn conferred the presidency on opposition leader and Antananarivo mayor Andry RAJOELINA; a power-sharing agreement established a 15-month transition period to conclude with a general election in 2010, which failed to occur; a subsequent agreement aimed for an early 2013 election - the first round was held on 25 October 2013 and the second on 20 December 2013
Legislative branch:
description: bicameral; consists of the Senate or Antenimieran-Doholona (dissolved following the 2009 coup and reestablished in December 2015) (63 seats; 42 members indirectly elected by an electoral college of municipal, communal, regional, and provincial leaders and 21 appointed by the president of the republic; members serve 6-year terms)and the National Assembly or Antenimierampirenena (151 seats; 87 members directly elected in single-seat constituencies by simple majority vote and 64 directly elected in multi-seat constituencies by closed-list proportional representation vote; members serve 4-year terms)
elections: National Assembly - last held on 20 December 2013 (next to be held in 2017); Senate - last held 29 December 2015 (next to be held in 2021)
election results: National Assembly - percent of vote by party - MAPAR 17.3%, MR 10.8%, VPM MMM 8.2%, PHI 3.8%, AMHM 3.5%, LEADER-Fanilo 2.8%, FFF 1.6%, AIM 1.0%, SFN 0.3%, independent and other 50.6%; seats by party - MAPAR 49, MR 20, VPM MMM 13, PHI 5, AMHM 2, LEADER-Fanilo 5, FFF 2, AIM 2, SFN 2, other 22, independent 25, seats with delayed elections 4; Senate - percent of vote by party - NA; seats by party - TIM 3, MAPAR 2, LEADER-Fanilo 1, independent 2; appointed by the President 21
Judicial branch:
highest court(s): Supreme Court or Cour Supreme (consists of 11 members; addresses judicial administration issues only); High Constitutional Court or Haute Cour Constitutionnelle (consists of 9 members); note - the judiciary includes a High Court of Justice responsible for adjudicating crimes and misdemeanors by government officials including the president
judge selection and term of office: Supreme Court heads elected by the president and judiciary officials to serve single-renewable, 3-year terms; High Constitutional Court members appointed - 3 each by the president, by both legislative bodies, and by the Council of Magistrates; members serve single, 6-year terms
subordinate courts: Courts of Appeal; provincial and city tribunals
Political parties and leaders:
AVANA Party [Jean-Louis ROBINSON]
Economic Liberalism and Democratic Action for National Recovery/LEADER-Fanilo [Manasse ESOAVELOMANDROSO]
Green Party/Parti Vert or AMHM [Sarah Georget RABEHARISOA]
I Love Madagascar (Tiako I Madagaskara) or TIM [Marc RAVALOMANANA]
National Unity, Freedom, and Development or FFF [Benjamin RADAVIDSON Andriamparany]
New Forces for Madagascar (Hery Vaovao ho an'i Madagaskara) or HVM [Hery RAJAONARIMAMPIANINA]
Parti Hiaraka Isika or PHI [Albert Camille VITAL]
Pillar of Madagascar or AIM [Andry RAKOTOVAO]
Ravalomanana Movement or MR
Sambo Fiaran'i Noe or SFN
Union Party or Tambatra [Pety RAKOTONIAINA]
Vondrona Politika Miara dia Malagasy Miara Miainga or VPM MMM [Milavonjy ANDRIASY]
With the President Andry RAJOELIN (Miaraka Amin'ny Prezida Andry Rajoelina) or MAPAR [Andry RAJOELINA]
Political pressure groups and leaders:
Committee for the Defense of Truth and Justice or KMMR
Committee for National Reconciliation or CRN
National Council of Christian Churches or FFKM
International organization participation:
ACP, AfDB, AU, CD, COMESA, EITI (candidate country), FAO, G-77, IAEA, IBRD, ICAO, ICC (NGOs), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, InOC, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), MIGA, NAM, OIF, OPCW, PCA, SADC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador (vacant); Charge d'Affaires Velotiana Rakotoanosy RAOBELINA (since 20 June 2011)
chancery: 2374 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 265-5525
FAX: [1] (202) 265-3034
consulate(s) general: New York
Diplomatic representation from the US:
chief of mission: Ambassador Robert T. YAMATE (since 14 January 2015); note - also accredited to Comoros
embassy: Lot 207A, Point Liberty, Andranoro, Antehiroka, 105 Antananarivo
mailing address: B.P. 620, Antsahavola, Antananarivo
telephone: [261] 20 23 480 00
FAX: [261] 20 23 480 35 or [261] 33 44 328 17
Flag description:
two equal horizontal bands of red (top) and green with a vertical white band of the same width on hoist side; by tradition, red stands for sovereignty, green for hope, white for purity
National symbol(s):
traveller's palm, zebu; national colors: red, green, white
National anthem:
name: "Ry Tanindraza nay malala o" (Oh, Our Beloved Fatherland)
lyrics/music: Pasteur RAHAJASON/Norbert RAHARISOA
note: adopted 1959

Economy

Economy - overview:
Madagascar is a free market economy with many untapped natural resources, but no capital markets, a weak judicial system, poorly enforced contracts, and rampant government corruption. The economy faces long-term challenges to improve education, healthcare, and the environment. 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 bushfire and 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 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 judged that Madagascar had demonstrated satisfactory performance on macroeconomic performance and structural reforms, and in mid-2016 approved another $304 million extended credit facility for the country. GDP growth is expected around 2.8% per year in 2016-17, due to underperformance in agriculture.
GDP (purchasing power parity):
$37.5 billion (2016 est.)
$35.54 billion (2015 est.)
$34.1 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 118
GDP (official exchange rate):
$10 billion (2016 est.)
GDP - real growth rate:
4.2% (2016 est.)
3.1% (2015 est.)
3.3% (2014 est.)
country comparison to the world: 56
GDP - per capita (PPP):
$1,500 (2016 est.)
$1,500 (2015 est.)
$1,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 219
Gross national saving:
16% of GDP (2016 est.)
11.2% of GDP (2015 est.)
15.3% of GDP (2014 est.)
country comparison to the world: 132
GDP - composition, by end use:
household consumption: 74.9%
government consumption: 12.1%
investment in fixed capital: 16.5%
investment in inventories: 0%
exports of goods and services: 32.5%
imports of goods and services: -36% (2016 est.)
GDP - composition, by sector of origin:
agriculture: 24%
industry: 15.7%
services: 60.2% (2016 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, mining
Industrial production growth rate:
4.6% (2016 est.)
country comparison to the world: 50
Labor force:
12.61 million (2016 est.)
country comparison to the world: 44
Unemployment rate:
2.1% (2016 est.)
country comparison to the world: 16
Population below poverty line:
70.7% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 2.2%
highest 10%: 34.7% (2010 est.)
Distribution of family income - Gini index:
41 (2012)
46.9 (2001)
country comparison to the world: 55
Budget:
revenues: $1.196 billion
expenditures: $1.604 billion (2016 est.)
Taxes and other revenues:
12.3% of GDP (2016 est.)
country comparison to the world: 206
Budget surplus (+) or deficit (-):
-4.2% of GDP (2016 est.)
country comparison to the world: 143
Public debt:
42.3% of GDP (2016 est.)
35.5% of GDP (2015 est.)
country comparison to the world: 127
Fiscal year:
calendar year
Inflation rate (consumer prices):
6.7% (2016 est.)
7.4% (2015 est.)
country comparison to the world: 187
Central bank discount rate:
8.3% (31 December 2016)
8.7% (31 December 2015)
country comparison to the world: 38
Commercial bank prime lending rate:
62% (31 December 2016 est.)
60% (31 December 2015 est.)
country comparison to the world: 1
Stock of narrow money:
$849.1 million (31 December 2016 est.)
$1.375 billion (31 December 2015 est.)
country comparison to the world: 157
Stock of broad money:
$1.793 billion (31 December 2016 est.)
$2.243 billion (31 December 2015 est.)
country comparison to the world: 157
Stock of domestic credit:
$1.746 billion (31 December 2016 est.)
$1.645 billion (31 December 2015 est.)
country comparison to the world: 151
Market value of publicly traded shares:
$NA
Current account balance:
$75 million (2016 est.)
$-67.4 million (2015 est.)
country comparison to the world: 83
Exports:
$2.196 billion (2016 est.)
$2.185 billion (2015 est.)
country comparison to the world: 136
Exports - commodities:
coffee, vanilla, shellfish, sugar, cotton cloth, clothing, chromite, petroleum products
Exports - partners:
France 23.5%, US 12.8%, Germany 8.3%, China 6.3%, Japan 5%, Netherlands 4.3%, South Korea 4.2% (2016)
Imports:
$2.857 billion (2016 est.)
$2.688 billion (2015 est.)
country comparison to the world: 144
Imports - commodities:
capital goods, petroleum, consumer goods, food
Imports - partners:
China 21.2%, France 6.9%, India 6.5%, UAE 5.6%, Saudi Arabia 5%, South Africa 5% (2016)
Reserves of foreign exchange and gold:
$1.184 billion (31 December 2016 est.)
$832 million (31 December 2015 est.)
country comparison to the world: 122
Debt - external:
$3.425 billion (31 December 2016 est.)
$2.985 billion (31 December 2015 est.)
country comparison to the world: 140
Stock of direct foreign investment - at home:
$6.461 billion (2014 est.)
$6.462 billion (2013 est.)
country comparison to the world: 100
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Malagasy ariary (MGA) per US dollar -
3,176.5 (2016 est.)
3,176.5 (2015 est.)
2,933.5 (2014 est.)
2,414.8 (2013 est.)
2,195 (2012 est.)

Energy

Electricity access:
population without electricity: 19,500,000
electrification - total population: 15%
electrification - urban areas: 37%
electrification - rural areas: 4% (2013)
Electricity - production:
1.508 billion kWh (2015 est.)
country comparison to the world: 146
Electricity - consumption:
1.402 billion kWh (2015 est.)
country comparison to the world: 150
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 163
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 170
Electricity - installed generating capacity:
m 668,200 kW (2015 est.)
country comparison to the world: 138
Electricity - from fossil fuels:
73.9% of total installed capacity (2015 est.)
country comparison to the world: 97
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 133
Electricity - from hydroelectric plants:
24.5% of total installed capacity (2015 est.)
country comparison to the world: 80
Electricity - from other renewable sources:
1.8% of total installed capacity (2015 est.)
country comparison to the world: 125
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 163
Crude oil - exports:
0 bbl/day (2014 est.)
country comparison to the world: 156
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 154
Crude oil - proved reserves:
0 bbl (1 January 2017 es)
country comparison to the world: 160
Refined petroleum products - production:
0 bbl/day (2014 est.)
country comparison to the world: 167
Refined petroleum products - consumption:
15,000 bbl/day (2015 est.)
country comparison to the world: 151
Refined petroleum products - exports:
0 bbl/day (2014 est.)
country comparison to the world: 174
Refined petroleum products - imports:
15,230 bbl/day (2014 est.)
country comparison to the world: 132
Natural gas - production:
0 cu m (2013 est.)
country comparison to the world: 162
Natural gas - consumption:
0 cu m (2013 est.)
country comparison to the world: 203
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 141
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 150
Natural gas - proved reserves:
2.01 billion cu m (1 January 2012 es)
country comparison to the world: 101
Carbon dioxide emissions from consumption of energy:
3 million Mt (2013 est.)
country comparison to the world: 143

Communications

Telephones - fixed lines:
total subscriptions: 148,585
subscriptions per 100 inhabitants: 1 (July 2016 est.)
country comparison to the world: 121
Telephones - mobile cellular:
total: 10,411,721
subscriptions per 100 inhabitants: 43 (July 2016 est.)
country comparison to the world: 91
Telephone system:
general assessment: system is above average for the region; competition among the three mobile service providers has spurred recent growth in the mobile market
domestic: combined fixed-line and mobile-cellular teledensity about 45 per 100 persons
international: country code - 261; landing point for the EASSy, SEACOM, and LION fiber-optic submarine cable systems; satellite earth stations - 2 (1 Intelsat - Indian Ocean, 1 Intersputnik - Atlantic Ocean region) (2016)
Broadcast media:
state-owned Radio Nationale Malagasy (RNM) and Television Malagasy (TVM) have an extensive national network reach; privately owned radio and TV broadcasters in cities and major towns; state-run radio dominates in rural areas; relays of 2 international broadcasters are available in Antananarivo (2007)
Internet country code:
.mg
Internet users:
total: 1,151,563
percent of population: 4.7% (July 2016 est.)
country comparison to the world: 31

Transportation

National air transport system:
number of registered air carriers: 3
inventory of registered aircraft operated by air carriers: 11
annual passenger traffic on registered air carriers: 546,946
annual freight traffic on registered air carriers: 30,512,607 mt-km (2015)
Civil aircraft registration country code prefix:
5R (2016)
Airports:
83 (2013)
country comparison to the world: 65
Airports - with paved runways:
total: 26
over 3,047 m: 1
2,438 to 3,047 m: 2
1,524 to 2,437 m: 6
914 to 1,523 m: 16
under 914 m: 1 (2017)
Airports - with unpaved runways:
total: 57
1,524 to 2,437 m: 1
914 to 1,523 m: 38
under 914 m: 18 (2013)
Railways:
total: 836 km
narrow gauge: 836 km 1.000-m gauge (2014)
country comparison to the world: 95
Roadways:
total: 37,476 km
paved: 6,103 km
unpaved: 31,373 km (2010)
country comparison to the world: 92
Waterways:
600 km (432 km navigable) (2011)
country comparison to the world: 79
Merchant marine:
total: 1
by type: cargo 1
registered in other countries: 1 (unknown 1) (2010)
country comparison to the world: 153
Ports and terminals:
major seaport(s): Antsiranana (Diego Suarez), Mahajanga, Toamasina, Toliara (Tulear)

Military & Security

Military expenditures:
0.59% of GDP (2016)
0.6% of GDP (2015)
0.65% of GDP (2014)
0.68% of GDP (2013)
0.69% of GDP (2012)
country comparison to the world: 119
Military branches:
People's Armed Forces: Intervention Force, Development Force, Navy, Air Force (2014)
Military service age and obligation:
18-25 years of age for male-only mix of voluntary and conscripted military service; women are not conscripted but can volunteer for all services except the Navy; service obligation is 18 months for military or equivalent civil service; 20-30 years of age for National Gendarmerie recruits and 35 years of age for those with military experience (2017)

Transnational Issues

Disputes - international:
claims Bassas da India, Europa Island, Glorioso Islands, and Juan de Nova Island (all administered by France); the vegetated drying cays of Banc du Geyser, which were claimed by Madagascar in 1976, also fall within the EEZ claims of the Comoros and France (Glorioso Islands, part of the French Southern and Antarctic Lands)
Refugees and internally displaced persons:
IDPs: 246,842 (cyclone in 2017) (2017)
Illicit drugs:
illicit producer of cannabis (cultivated and wild varieties) used mostly for domestic consumption; transshipment point for heroin

Economic Indicators for Madagascar including actual values, historical data, and latest data updates for the Madagascar economy.