Economy - overview:
Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing roughly 80% of the population. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns.After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization until the onset of a political crisis, which lasted from 2009-2013. The free market strategy had placed the country on a slow and steady growth path from an extremely low starting point. Exports of apparel boomed after gaining duty-free access to the US in 2000; however, Madagascar's failure to comply with the requirements of the African Growth and Opportunity Act (AGOA) led to the termination of the country's duty-free access in January 2010, a sharp fall in textile production, and a loss of more than 100,000 jobs.Madagascar regained AGOA access in January 2015 following the democratic election of a new President the previous year. In November 2015 the International Monetary Fund (IMF) approved a Rapid Credit Facility to Madagascar worth about $42.1 million to help the government meet its balance of payments needs. The IMF also approved a staff monitoring program to guide policy implementation and indicated that Madagascar must demonstrate the capability to sustain reforms to qualify for future requests for a credit facility.

GDP (purchasing power parity):
$35.56 billion (2015 est.) $34.39 billion (2014 est.) $33.28 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 120
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.514 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.4% (2015 est.) 3.3% (2014 est.) 2.3% (2013 est.)
country comparison to the world: 89
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$1,500 (2015 est.) $1,500 (2014 est.) $1,400 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 217
[see also: GDP - per capita country ranks ]

Gross national saving:
14.9% of GDP (2015 est.) 15.3% of GDP (2014 est.) 10.3% of GDP (2013 est.)
country comparison to the world: 118
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 83.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.3%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 15.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 32%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -46.2% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 26.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 16.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 56.6% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava (manioc, tapioca), beans, bananas, peanuts; livestock products

Industries:
meat processing, seafood, soap, beer, leather, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum, tourism, mining

Industrial production growth rate:
3.8% (2015 est.)
country comparison to the world: 62
[see also: Industrial production growth rate country ranks ]

Labor force:
12.57 million (2015 est.)
country comparison to the world: 44
[see also: Labor force country ranks ]

Unemployment rate:
NA% 3.6% (2014 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
50% (2004 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 34.7% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
47.5 (2001) 38.1 (1999)
country comparison to the world: 27
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.533 billion
[see also: Budget revenues country ranks ]
expenditures: $2.867 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
26.6% of GDP (2015 est.)
country comparison to the world: 110
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2015 est.)
country comparison to the world: 130
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.1% (2015 est.) 6.1% (2014 est.)
country comparison to the world: 190
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2010)
country comparison to the world: 78
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
62% (31 December 2015 est.) 60% (31 December 2014 est.)
country comparison to the world: 1
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.535 billion (31 December 2015 est.) $1.506 billion (31 December 2014 est.)
country comparison to the world: 139
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.745 billion (31 December 2015 est.) $2.399 billion (31 December 2014 est.)
country comparison to the world: 146
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.89 billion (31 December 2015 est.) $1.658 billion (31 December 2014 est.)
country comparison to the world: 141
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$128 million (2015 est.) -$26 million (2014 est.)
country comparison to the world: 71
[see also: Current account balance country ranks ]

Exports:
$2.447 billion (2015 est.) $2.187 billion (2014 est.)
country comparison to the world: 133
[see also: Exports country ranks ]

Exports - commodities:
coffee, vanilla, shellfish, sugar, cotton cloth, clothing, chromite, petroleum products

Exports - partners:
France 17.7%, US 8.8%, Belgium 6.8%, Netherlands 6.4%, South Africa 5.7%, Japan 5.4%, South Korea 5%, China 4.8%, Germany 4.5% (2014)

Imports:
$3.041 billion (2015 est.) $2.927 billion (2014 est.)
country comparison to the world: 144
[see also: Imports country ranks ]

Imports - commodities:
capital goods, petroleum, consumer goods, food

Imports - partners:
China 20.6%, France 10.6%, Algeria 6.3%, India 5.4%, Bahrain 5%, Mauritius 4.6%, South Africa 4.2%, Kuwait 4% (2014)

Reserves of foreign exchange and gold:
$962.9 million (31 December 2015 est.) $773.8 million (31 December 2014 est.)
country comparison to the world: 134
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$3.444 billion (31 December 2014 est.) $2.849 billion (31 December 2013 est.)
country comparison to the world: 141
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Malagasy ariary (MGA) per US dollar - 2,872.7 (2015 est.) 2,414.8 (2014 est.) 2,414.8 (2013 est.) 2,195 (2012 est.) 2,025.1 (2011 est.)