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Indicators of economy in Madagascar

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Madagascar, on the other hand, reached USD 515 per capita, or 14.64 billion USD in the whole country. Madagascar is one of the smaller economies and is currently ranked 132. If this is calculated per inhabitant taking into account the purchasing power parity, then Madagascar is in the list of the world's richest countries in place 171.

Inflation in Madagascar was in 2020 at around 4.20%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 71.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Madagascar

Impact of the Covid-19 pandemic

The consequences of the Covid pandemic were not insignificant in Madagascar 2020. Overall, gross domestic product in 2020 fell from 14.19 billion US Dollar auf 13.23 billion US Dollar. With a drop of 6.8 percent, the economy in Madagascar suffered more significant losses than other countries.. The tourism sector alone slumped by around 79 percent. The unemployment rate rose from 1.9 to 2.5 percent. The inflation rate has fallen from 5.6 percent previously to 4.2 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Madagascar
Total
Madagascar
per capita
EU
Total
EU
per capita
GDP14.64 bn USD514.91 USD17.09 tn USD33,228.68 USD
Gross national product14.19 bn USD499.14 USD16.78 tn USD32,621.03 USD


Development of the Gross domestic product in billion US Dollar 1960 - 2021



Im- and Exports 2020

 Madagascar
Total
Madagascar
per capita
EU
Total
EU
per capita
Imports3.75 bn USD132.02 USD8,916.24 bn USD17,337.55 USD
Exports2.60 bn USD91.35 USD9,554.34 bn USD18,578.33 USD


Development of imports and exports in millions of USD 1974 - 2020

Exports
Imports



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