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COUNTRY OUTLOOK / MG

Madagascar

Unverified rate framework · ISO:MG

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Missing or stale rateTarget · 31 Oct 2026Issued · 15 Sep 2026, 02:54 UTCRESEARCH ONLY
CapitalAntananarivo
RegionSub-Saharan Africa
Income groupLow income
CurrencyMalagasy ariary
GDP$19.62B2025 · current US$
Real GDP growth3.00%2025 · annual %
Population32.74M2025 · people
GDP per capita$599.272025 · current US$

Latest available annual observations; years differ by indicator. Monetary values use the stated current-price basis and are not forecasts. World Bank data fetched 2026-09-15.

Economic structure

2025 · share of GDP

Broad sectors use the latest common year. Manufacturing is included in industry. Shares can total less than 100% because of taxes and accounting adjustments.

Madagascar's largest reported broad sector is services in 2025.

Monetary & research context

Policy authorityISO:MG
Policy frameworkunverified rate framework
Native targetpolicy benchmark rate
Decision evidence0
Calendar evidence0
Communication records0

Evidence counts include research inputs; they do not establish live coverage or independent observations. A country's economic composition is descriptive and does not establish what caused a model forecast.

Country events & results ↗

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Real GDP growth

3.00% · 2025 · annual %

Real GDP growth · annual %-7.14%-1.24%4.65%2014: 3.33920311195367 annual %2015: 3.13229807490305 annual %2016: 3.99314606199499 annual %2017: 3.93330759462793 annual %2018: 3.19435651744398 annual %2019: 4.41123212909589 annual %2020: -7.13767162064489 annual %2021: 4.65068343174309 annual %2022: 4.13753534956307 annual %2023: 4.23086580696344 annual %2024: 4.32283728087992 annual %2025: 3.002568866856 annual %20142025
View annual observations
YearValue (annual %)
20253.003
20244.323
20234.231
20224.138
20214.651
2020-7.138
20194.411
20183.194
20173.933
20163.993
20153.132
20143.339
World Bank source & definition ↗

Economy

GDP$19.62B2025 · current US$Source & definition ↗
Real GDP growth3.00%2025 · annual %Source & definition ↗
GDP per capita$599.272025 · current US$Source & definition ↗
GDP at purchasing power parityInt$ 63.93B2025 · current international $Source & definition ↗

People

Population32.74M2025 · peopleSource & definition ↗
Population growth2.40%2025 · annual %Source & definition ↗
Urban population32.90%2025 · % of populationSource & definition ↗
Life expectancy63.842024 · yearsSource & definition ↗
Unemployment · ILO estimate3.04%2025 · % of labor forceSource & definition ↗
Labor force participation · ages 15+85.50%2025 · % of population ages 15+Source & definition ↗

Sectors

Agriculture, forestry & fishing21.70%2025 · % of GDPSource & definition ↗
Industry including construction23.90%2025 · % of GDPSource & definition ↗
Services48.83%2025 · % of GDPSource & definition ↗
Manufacturing13.12%2024 · % of GDPSource & definition ↗

Trade & investment

Exports of goods & services21.33%2025 · % of GDPSource & definition ↗
Imports of goods & services32.91%2025 · % of GDPSource & definition ↗
Current account balance-4.26%2024 · % of GDPSource & definition ↗
Foreign direct investment · net inflows3.45%2024 · % of GDPSource & definition ↗

Money & public finance

Consumer inflation8.05%2025 · annual %Source & definition ↗
Central government debtNot available% of GDP
Tax revenue10.94%2024 · % of GDPSource & definition ↗
Government cash surplus / deficitNot available% of GDP
Domestic credit to private sector16.48%2024 · % of GDPSource & definition ↗
Total reserves including gold$2.78B2024 · current US$Source & definition ↗

Infrastructure

Internet use18.68%2024 · % of populationSource & definition ↗
Access to electricity42.50%2024 · % of populationSource & definition ↗

Geography

Surface area587,2952023 · square kmSource & definition ↗

Government debt covers central government, which can differ substantially from general-government debt. Indicator definitions, estimation methods and coverage differ. Latest available does not mean current-year: older observations remain explicitly dated. Source: World Bank WDI and its underlying contributors.

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Every forecast has a boundary.This is a dated research snapshot, not an automatically updating market feed. Source gaps, model limitations, and adverse results are retained.

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