Madagascar has the 127th largest economy in the world . The gross domestic product (GDP) of Madagascar is $9.98 (USD Billion) and its growth was 3.02% from 2014 to 2015. Its highest GDP was recorded in 2014 and its average GDP in the last 10 years is $9.10 (USD Billion).
Madagascar GDP per capita is $411.82 (USD). However, when factoring in purchase power parity (PPP), it becomes $1,459.27 (USD), making it the 52nd poorest country in the world. The average GDP adjusted to PPP per capita in the last 10 years was $1,398.51 (USD).
The agriculture, textile, fishing, forestry and mining industries all play a large part in the economy of Madagascar. In recent years, tourism has become a developing industry as well. However, political unrest throughout the country has been detrimental to the economic development of the country, including the major 2009 Malagasy Political Crisis.
Madagascar exports a wide array of crops, including vanilla, cacao, sugar, and coffee. Its climate, which ranges from moderate to tropical, helps cultivate a strong agricultural industry. Mining has been a controversial section of Madagascar's economy, which some expressing concern over the environmental impact of mining operations in the country. Most mines harvest ilmenite, which is a form of titanium that is used in anything from plastics, paper, sunscreen, cosmetics and even food.
The major export partners of Madagascar are France, the United States, Germany, China, the Netherlands, Canada, Belgium, Japan, and South Africa. 47% of Malagasy exports are sent to Europe, while just under 30% are sent to Asia. Nearly 15% are sent to North America.
GDP Of Madagascar Per Year
Madagascar's GDP & Other Economic Statistics
|GNI per capita, PPP||1,400.00||1,400.00||1,460.00||International $|
|GNI, PPP||34.03||33.07||34.03||International $ Billion|
|Gross domestic savings||1.15||1.12||1.15||USD Billion|
|GDP per capita, PPP||1,459.27||1,441.97||1,468.21||International $|
|GDP per capita growth||0.20||0.29||4.14||%|
|GDP per capita||411.82||467.13||472.38||USD|
|Services, etc., value added||5.44||5.90||5.90||USD Billion|
|Industry, value added||1.70||1.76||1.76||USD Billion|
|Agriculture, value added||2.26||2.57||2.58||USD Billion|
|Gross fixed capital formation||1.48||1.64||3.80||USD Billion|
|Tax revenue||10.10||9.76||12.98||% of GDP|
|Manufacturing, value added||1.21||0.97||1.21||USD Billion|
What is Gross Domestic Product (GDP)?
Gross Domestic Product (GDP) is a measure of market value of all final goods and service produced in a yearly period. This page provides the GDP of Madagascar – current values and historical information. The information was last updated 2016.
GDP Of Madagascar vs. Other Countries
|Rank||Country||GDP (USD Billion), 2005|