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Madagascar's economy in numbers:
Nominal GDP of USD 14.9 billion in 2022.
Nominal GDP of USD 16.0 billion in 2023.
GDP per capita of USD 538 compared to the global average of USD 10,589.
GDP per capita of USD 514 compared to the global average of USD 10,589.
Average real GDP growth of 2.7% over the last decade.
Average real GDP growth of 2.7% over the last decade.
Economic growth:
The economy recorded average annual growth of 2.7% in the decade to 2022. To read more about GDP growth in Madagascar, go to our dedicated page.
Fiscal policy:
Madagascar's fiscal deficit averaged 2.0% of GDP in the decade to 2022. Find out more on our dedicated page.
Inflation:
Inflation averaged 6.6% in the decade to 2022. Go to our Madagascar inflation page for extra insight.
Monetary Policy:
Madagascar's monetary policy rate ended 2018 at 9.50%, down from 12.00% a decade earlier. See our Madagascar monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the ariary weakened by 49.1% vs the U.S. dollar. For more info on the ariary, click here.
35 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 4 expert analysts.
Want to get insight on the economic outlook for Madagascar in the coming years? FocusEconomics collects projections out to 2034 on 35 economic indicators for Madagascar from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Madagascar economy. To download a sample report on the Madagascar's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.