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Country Intelligence

Madagascar

East Africa

Comprehensive economic, trade, industry and opportunity intelligence for Madagascar.

Capital Antananarivo
Population 32.74M (2025)
Currency Malagasy Ariary (MGA)
Language Malagasy, French
Government Semi-presidential republic (transitional)
Region East Africa
Income Level Low income (World Bank)

Key Economic Indicators

Latest Available Data
GDP (Nominal)$19.62B (2025)Annual data
GDP Growth (Real)3% (2025)Annual data
GDP Per Capita$599.27 (2025)Annual data
Inflation (CPI, annual)8.05% (2025)Annual data
Unemployment (modeled ILO)3.04% (2025)Annual data
Population32.74M (2025)Annual data
Source: World Bank. Annual data; each card displays its own reference year. View More Economic Data

Trade Overview (Goods)

Merchandise Exports$2.5B (2025)
Merchandise Imports$5.24B (2025)
Trade Balance-$2.74B (2025)
Source: World Bank merchandise trade. Balance uses a common year.

Top Trading Partners — Total Goods Trade

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Source: UN Comtrade; annual goods trade
  1. 1.Vanilla
  2. 2.Nickel & Cobalt Mining
  3. 3.Textiles
  4. 4.Agriculture
  5. 5.Tourism
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  1. 1.Data unavailable
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  1. 1.Data unavailable
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Market Outlook

Madagascar is a low-income economy in East Africa with nominal GDP of $19.62B (2025) and real growth of 3% (2025). Key sectors include Vanilla, Nickel & Cobalt Mining and Textiles. Explore dated official statistics, trade flows and ATN business opportunities for Madagascar.

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Investment Indicators

Latest Available Data
FDI Net Inflows$606.21M (2024)Annual data
Inward FDI StockData unavailableUNCTAD · annual observation pending refresh
Doing Business Rank (historical)Data unavailableHistorical series

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ATN Opportunities In Madagascar

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Land Area 581,800 km² (2023)
Time Zone UTC+3
Major Ports Toamasina, Mahajanga
Major Airports Antananarivo Ivato (TNR)
Internet Users (% population) 18.68% (2024)
Mobile Subscriptions 23.54M (2023)
Source: World Bank (land, internet, mobile). Time zone, ports and airports: ATN editorial reference. View More Country Data

Madagascar On The Map

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More Country Intelligence · East Africa

Compare Madagascar with neighbouring markets.

Burundi BurundiGDP: $3.36B (2025) Comoros ComorosGDP: $1.81B (2025) Djibouti DjiboutiGDP: $4.62B (2025) Eritrea EritreaGDP: $2.07B (2011) Ethiopia EthiopiaGDP: $126.36B (2025) Kenya KenyaGDP: $135.94B (2025) Mauritius MauritiusGDP: $16.16B (2025) Rwanda RwandaGDP: $16.37B (2025) Seychelles SeychellesGDP: $2.39B (2025) Somalia SomaliaGDP: $13B (2025) South Sudan South SudanGDP: $12B (2015) Tanzania TanzaniaGDP: $90.14B (2025)
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