Madagascar
Capital: AntananarivoRegion: Sub-Saharan Africa Income: Low income
Madagascar's GDP is $21.09B (2026), with a population of 32.0M, and GDP per capita of $653. Key indicators include real GDP growth of 4.3%, inflation at 7.2%, government debt at 50.9% of GDP, life expectancy of 63.6 years. Data sourced from the IMF World Economic Outlook and World Bank World Development Indicators. Explore Madagascar's full economic profile with 440+ indicators, interactive charts, and historical data below.
Source: IMF World Economic Outlook
Economy
Fiscal & Monetary
| Indicator | Value | Year |
|---|---|---|
| Inflation, Consumer Prices (%) | 7.2% | 2026 |
| Govt Gross Debt (% of GDP) | 50.9% | 2026 |
| Fiscal Balance (% of GDP) | -4.0% | 2026 |
| Current Account Balance (% of GDP) | -6.5% | 2026 |
| Total Investment (% of GDP) | 24.4% | 2026 |
| Gross National Savings (% of GDP) | 17.8% | 2026 |
| Inflation, CPI (%, World Bank) | 9.9% | 2023 |
| Real Interest Rate (%) | 42.9% | 2023 |
| Lending Interest Rate (%) | 53.6% | 2023 |
| Deposit Interest Rate (%) | 13.0% | 2023 |
| Government Revenue (% of GDP) | 10.8% | 2023 |
| Government Expenditure (% of GDP) | 11.2% | 2023 |
| Tax Revenue (% of GDP) | 9.6% | 2023 |
| Taxes on Goods & Services (% of revenue) | 44.4% | 2023 |
| Taxes on International Trade (% of revenue) | 6.8% | 2023 |
| Taxes on Income, Profits & Capital Gains (% of rev) | 22.5% | 2023 |
| Net Investment in Nonfinancial Assets (% of GDP) | 7.0% | 2023 |
| Total Reserves incl. Gold (USD) | $2.78B | 2024 |
| Total Reserves (months of imports) | 4 | 2022 |
| Official Exchange Rate (per USD) | 4,525.42 | 2024 |
| PPP Conversion Factor | 1,309.4 | 2024 |
| Broad Money (% of GDP) | 27.1% | 2023 |
Trade
| Indicator | Value | Year |
|---|---|---|
| Trade (% of GDP) | 55.0% | 2024 |
| Exports of Goods & Services (% of GDP) | 23.3% | 2024 |
| Imports of Goods & Services (% of GDP) | 31.7% | 2024 |
| Exports of Goods & Services (USD) | $4.05B | 2024 |
| Imports of Goods & Services (USD) | $5.53B | 2024 |
| Merchandise Exports (USD) | $2.58B | 2024 |
| Merchandise Imports (USD) | $4.83B | 2024 |
| FDI Inflows (% of GDP) | 3.5% | 2024 |
| FDI Outflows (% of GDP) | 0.8% | 2024 |
| FDI Net Inflows (USD) | $606.2M | 2024 |
| Personal Remittances Received (USD) | $406.3M | 2024 |
| Personal Remittances Received (% of GDP) | 2.3% | 2024 |
| High-Tech Exports (% of manufactured) | 0.5% | 2023 |
| Current Account Balance (% of GDP) | -5.4% | 2022 |
| Current Account Balance (USD) | $-829.4M | 2022 |
External Debt
| Indicator | Value | Year |
|---|---|---|
| External Debt (% of GNI) | 39.2% | 2024 |
| External Debt Stocks (USD) | $6.65B | 2024 |
| Total Debt Service (% of GNI) | 1.7% | 2024 |
| Present Value of External Debt (USD) | $3.33B | 2024 |
| Use of IMF Credit (USD) | $1.30B | 2024 |
| Net ODA Received (% of GNI) | 8.1% | 2023 |
| Net ODA Received (USD) | $1.25B | 2023 |
Finance
| Indicator | Value | Year |
|---|---|---|
| Domestic Credit to Private Sector (% of GDP) | 16.6% | 2024 |
| Bank Capital to Assets Ratio (%) | 7.1% | 2023 |
| Bank Nonperforming Loans (%) | 7.6% | 2023 |
| Account Ownership at Financial Institution (%) | 24.5% | 2024 |
| Account Ownership, Female (%) | 20.3% | 2024 |
| Account Ownership, Male (%) | 29.0% | 2024 |
| Firms Using Banks to Finance Investment (%) | 4.1% | 2022 |
Business Environment
| Indicator | Value | Year |
|---|---|---|
| Time to Get Electricity (days) | 73 | 2022 |
Private Sector
| Indicator | Value | Year |
|---|---|---|
| Firms Expected to Pay Bribes (%) | 19.5% | 2022 |
| Firms with Female Top Manager (%) | 24.2% | 2022 |
| Firms with Female Participation in Ownership (%) | 37.3% | 2022 |
| Firms Offering Training (%) | 10.5% | 2022 |
| Average Firm Age (years) | 12 years | 2022 |
| Firms Using Computers (%) | 46.0% | 2022 |
People
| Indicator | Value | Year |
|---|---|---|
| Population | 32.0M | 2024 |
| Population Growth (%) | 2.4% | 2024 |
| Population Density (per km²) | 54 | 2023 |
| Surface Area (sq km) | 587,295 | 2023 |
| Land Area (sq km) | 581,800 | 2023 |
| Urban Population (%) | 32.4% | 2024 |
| Urban Population (total) | 10.4M | 2024 |
| Rural Population (%) | 67.6% | 2024 |
| Life Expectancy at Birth | 63.6 years | 2023 |
| Life Expectancy, Male | 61.9 years | 2023 |
| Life Expectancy, Female | 65.4 years | 2023 |
| Fertility Rate (births per woman) | 4 | 2023 |
| Birth Rate (per 1,000) | 32.1 | 2023 |
| Death Rate (per 1,000) | 7.5 | 2023 |
| Net Migration | -2,227 | 2025 |
| Population Ages 0–14 (%) | 39.3% | 2024 |
| Population Ages 15–64 (%) | 57.3% | 2024 |
| Population Ages 65+ (%) | 3.4% | 2024 |
| Age Dependency Ratio (%) | 74.4% | 2024 |
| Old-Age Dependency Ratio (%) | 5.9% | 2024 |
| Youth Dependency Ratio (%) | 68.5% | 2024 |
| Mortality Rate, Adult Male (per 1,000) | 258.6 | 2023 |
| Mortality Rate, Adult Female (per 1,000) | 207.4 | 2023 |
Labor
| Indicator | Value | Year |
|---|---|---|
| Total Labor Force | 17.1M | 2025 |
| Labor Force Participation (%) | 85.5% | 2025 |
| Female Labor Force Participation (%) | 82.9% | 2025 |
| Male Labor Force Participation (%) | 88.1% | 2025 |
| Unemployment (%) | 3.0% | 2025 |
| Female Unemployment (%) | 3.3% | 2025 |
| Male Unemployment (%) | 2.8% | 2025 |
| Youth Unemployment (%) | 5.2% | 2025 |
| Employment in Agriculture (%) | 69.2% | 2025 |
| Employment in Industry (%) | 9.9% | 2025 |
| Employment in Services (%) | 20.9% | 2025 |
| Self-Employed (%) | 75.0% | 2022 |
| Vulnerable Employment (%) | 84.4% | 2025 |
| Wage & Salaried Workers (% of total) | 11.7% | 2025 |
| Part-Time Employment (%) | 36.5% | 2022 |
| Employers (% of total employment) | 3.9% | 2025 |
| Labor Force, Female (% of total) | 48.6% | 2025 |
| Employment to Population Ratio (%) | 82.9% | 2025 |
| Self-Employed (% of total) | 88.3% | 2025 |
| NEET Youth (% not in education/employment) | 24.3% | 2022 |
Education
| Indicator | Value | Year |
|---|---|---|
| Education Spending (% of GDP) | 3.0% | 2023 |
| Adult Literacy Rate (%) | 74.7% | 2021 |
| Female Literacy Rate (%) | 71.8% | 2021 |
| Male Literacy Rate (%) | 77.9% | 2021 |
| Youth Literacy Rate (%) | 82.4% | 2021 |
| Primary School Enrollment (%) | 132.7% | 2024 |
| Secondary School Enrollment (%) | 34.1% | 2021 |
| Tertiary School Enrollment (%) | 6.1% | 2023 |
| Primary Completion Rate (%) | 60.7% | 2024 |
| Lower Secondary Completion Rate (%) | 30.9% | 2024 |
| Out-of-School Children, Primary | 135,621 | 2024 |
| Primary School Teachers | 138,648 | 2024 |
| Secondary School Teachers | 78,148 | 2019 |
| Pupil-Teacher Ratio, Primary | 40 | 2018 |
| Pupil-Teacher Ratio, Secondary | 19 | 2018 |
| Expenditure per Student, Primary (% of GDP/cap) | 47.4% | 2012 |
| Pupil-Teacher Ratio (Primary) | 31.6 | 2018 |
| Education Spending, Secondary (% of govt) | 19.3% | 2012 |
| Education Spending, Tertiary (% of govt) | 0.0% | 2017 |
Health
Energy & Environment
| Indicator | Value | Year |
|---|---|---|
| CO₂ Emissions (tonnes per capita) | 0.1 | 2024 |
| CO₂ Emissions (total kilotonnes) | 5 | 2024 |
| Energy Use (kg oil eq. per capita) | 309 | 2022 |
| Electric Power Consumption (kWh per capita) | 81 | 2022 |
| Renewable Electricity Output (%) | 34.0% | 2021 |
| Renewable Energy Consumption (%) | 83.1% | 2022 |
| Access to Electricity (%) | 39.4% | 2023 |
| Access to Clean Fuels for Cooking (%) | 1.6% | 2023 |
| PM2.5 Air Pollution (µg/m³) | 12.8 | 2020 |
| Forest Area (%) | 21.3% | 2023 |
| Forest Area (sq km) | 123,902 | 2023 |
| Arable Land (%) | 5.2% | 2023 |
| Terrestrial Protected Areas (%) | 5.1% | 2024 |
| Marine Protected Areas (%) | 1.3% | 2024 |
| Access to Basic Drinking Water (%) | 55.3% | 2024 |
| Access to Basic Sanitation (%) | 15.4% | 2024 |
Agriculture
| Indicator | Value | Year |
|---|---|---|
| Agricultural Land (%) | 70.3% | 2023 |
| Cereal Yield (kg per hectare) | 2,426 | 2023 |
| Food Production Index (2014–2016=100) | 105.9 | 2022 |
| Crop Production Index (2014–2016=100) | 108.2 | 2022 |
| Livestock Production Index (2014–2016=100) | 94.4 | 2022 |
| Land Under Cereal Production (hectares) | 2.2M | 2023 |
| Total Fisheries Production (metric tonnes) | 139,962 | 2023 |
| Fertilizer Consumption (kg per hectare) | 7.3 | 2023 |
| Prevalence of Undernourishment (%) | 39.5% | 2023 |
| Annual Freshwater Withdrawals (% of internal) | 4.0% | 2022 |
| Cereal Production (metric tons) | 5.4M | 2023 |
Technology
| Indicator | Value | Year |
|---|---|---|
| Internet Users (%) | 20.4% | 2023 |
| Mobile Subscriptions (per 100 people) | 75 | 2023 |
| Fixed Broadband Subscriptions (per 100) | 0.1 | 2023 |
| Secure Internet Servers (per million) | 25.1 | 2024 |
| Patent Applications, Residents | 6 | 2021 |
| Patent Applications, Non-Residents | 22 | 2021 |
| Scientific Journal Articles | 157 | 2022 |
| High-Technology Exports (USD) | $7.9M | 2024 |
| ICT Service Exports (% of service exports) | 20.9% | 2022 |
| ICT Service Exports (USD) | $238.5M | 2022 |
| Industrial Design Applications, Resident | 328 | 2021 |
Infrastructure
| Indicator | Value | Year |
|---|---|---|
| Air Transport, Passengers Carried | 313,313 | 2023 |
| Air Transport, Freight (million ton-km) | 2.5 | 2023 |
| Container Port Traffic (TEU) | 199,713 | 2019 |
| Rail Lines (total km) | 673 | 2021 |
| Railways, Goods (million ton-km) | 122 | 2014 |
| Logistics Performance Index (1–5) | 2.30 | 2022 |
| Electricity from Oil (%) | 46.0% | 2022 |
| Electricity from Nuclear (%) | 0.0% | 2021 |
Gender
| Indicator | Value | Year |
|---|---|---|
| Women in Parliament (%) | 16.0% | 2024 |
| Female Labor Force Participation, 15+ (%) | 68.9% | 2022 |
| Female Wage & Salaried Workers (%) | 9.4% | 2025 |
| Girls Out-of-School Rate (%) | 157.2% | 2018 |
| Adolescent Fertility Rate (per 1,000) | 129.8 | 2023 |
| Women Who Believe Husband Can Beat Wife (%) | 40.6% | 2021 |
| Gender Parity Index, Primary | 155.53 | 2018 |
| Gender Parity Index, Secondary | 1.04 | 2019 |
| Gender Parity in Primary Education | 1.02 | 2019 |
Governance
| Indicator | Value | Year |
|---|---|---|
| Control of Corruption | -1 | 2023 |
| Government Effectiveness | -1.02 | 2023 |
| Political Stability | -0.69 | 2023 |
| Regulatory Quality | -0.8 | 2023 |
| Rule of Law | -0.97 | 2023 |
| Voice & Accountability | -0.32 | 2023 |
| Control of Corruption (percentile rank) | 18.4% | 2023 |
| Government Effectiveness (percentile rank) | 13.7% | 2023 |
| Rule of Law (percentile rank) | 18.9% | 2023 |
| Political Stability (percentile rank) | 19.9% | 2023 |
Military
| Indicator | Value | Year |
|---|---|---|
| Military Spending (% of GDP) | 0.7% | 2024 |
| Military Expenditure (USD) | $121.6M | 2024 |
| Armed Forces Personnel | 22,000 | 2020 |
| Armed Forces (% of labor force) | 0.2% | 2020 |
| Military Spending (% of govt expenditure) | 4.2% | 2024 |
Poverty & Inequality
| Indicator | Value | Year |
|---|---|---|
| Poverty at $2.15/day (%) | 69.2% | 2021 |
| Poverty at $3.65/day (%) | 83.9% | 2021 |
| Poverty at $6.85/day (%) | 96.6% | 2021 |
| Poverty Headcount, National (%) | 75.2% | 2021 |
| Gini Index | 36.8 | 2021 |
| Income Share, Top 10% | 29.6% | 2021 |
| Income Share, Bottom 10% | 2.9% | 2021 |
| Income Share, Top 20% | 44.7% | 2021 |
| Income Share, Bottom 20% | 7.2% | 2021 |
| Poverty Gap at $2.15/day (%) | 27.6% | 2021 |
Social Protection
| Indicator | Value | Year |
|---|---|---|
| Human Capital Index (0–1) | 0.39 | 2020 |
| Human Capital Index, Female | 0.40 | 2020 |
| Human Capital Index, Male | 0.38 | 2020 |
| Learning-Adjusted Years of School | 4.7 years | 2020 |
Tourism
| Indicator | Value | Year |
|---|---|---|
| International Tourism, Arrivals | 87,100 | 2020 |
| Tourism Receipts (USD) | $202.0M | 2020 |
| Tourism Expenditures (USD) | $97.0M | 2020 |
| Tourism Receipts (% of total exports) | 7.8% | 2020 |
| International Tourism, Transport Services (USD) | $57.0M | 2020 |
Urban Development
| Indicator | Value | Year |
|---|---|---|
| Urban Population Growth (%) | 3.8% | 2024 |
| Population in Largest City | 4.2M | 2025 |
| Population in Largest City (% of urban) | 39.3% | 2025 |
| Population in Agglomerations >1M (% of total) | 12.9% | 2025 |
| Population in Slums (% of urban) | 65.7% | 2022 |
| Rural Population Growth (%) | 1.8% | 2024 |
| Access to Safely Managed Drinking Water (%) | 22.1% | 2024 |
| Access to Safely Managed Sanitation (%) | 12.8% | 2024 |
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