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Madagascar
Introduction
Key Economic Facts
Madagascar is an island nation in the Indian Ocean off the
southeastern coast of Africa. Madagascar has a strategic
location along the Mozambique Channel. The government
system is a republic; the chief of state is
the president, and the head of
government is the prime minister.
Madagascar transitioned from socialist
economic policies to a market economic
with policy of privatization and liberalization. Madagascar is
a member of the Common Market for Eastern and Southern
Africa (COMESA) and the Southern African Development
Community (SADC).
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
External debt stocks, total
(DOD, current US$):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
Primary Religions:
Calling Code:
Voltage:
Eastern Africa
Antananarivo (+3 GMT)
President Hery Rajaonarimampianina
Prime Minister Olivier Mahafaly
Solonandrasana
Malagasy ariary (MGA)
French (official), Malagasy (official),
English
Christian, indigenous beliefs, Muslim
261
127/220
Key Websites
Main Government Page: madagascar.gov.mg
Commerce Ministry: commerce.gov.mg
Investment Promotion edbm.gov.mg
Agency:
Risk Assessment (Provided by Coface)
Low Income
Developing
$35.51 billion (2015)
3.05% (2015)
$1,465.34 (2015)
$2,985,339,000.00 (2015)
15.07% (2012)
-$0.62 billion (2013)
7.40% (2015)
12,607,657 (2016)
2.13% (2016)
$4.34 billion (2015)
$3.35 billion (2015)
GDP Composition %
Agriculture
Industry
Manufacturing
Services
U.S. Embassy
59
26
16
0
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Global Competitiveness Index
Global Enabling Trade Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Country rating: D - A high-risk political and economic
situation and an often very difficult business environment
can have a very significant impact on corporate payment
behavior. Corporate default probability is very high.
Business Climate rating: D - The business environment is
very difficult. Corporate financial information is rarely
available and when available usually unreliable. The legal
system makes debt collection very unpredictable. The
institutional framework has very serious weaknesses.
Intercompany transactions can thus be very difficult to
manage in the highly risky environments rated D.
Strengths
• Significant mineral (precious stones, nickel, and
cobalt) and oil reserves
• Agricultural (vanilla) and tourist potential
• Public debt mostly on concessional terms
Weaknesses
• Dependence on agricultural and mining products
• Inadequate road, hydraulic and electricity networks
• Dependence on foreign aid
• Enduring political instability
Lot 207A, Point Liberty
Antsahavola, Antananarivo, 105 Antananarivo
B.P. 620, Antsahavola, Antananarivo
Tel: 261 23 480 00
http://www.antananarivo.usembassy.gov/
Rank
145 / 176
128 / 138
109 / 136
113 / 180
147 / 160
128 / 139
148 / 187
135 / 139
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV