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2023
Flag → Flag
Exports $33.3MRnk 23 / 156
2023
Flag → Flag
Top Product $23.1MPrecious Stones
2023
Flag → Flag
Exports $34.4MRnk 128 / 216
2023
Flag → Flag
Top Product $8.29MDelivery Trucks
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag  
GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 195
2023
Flag
 GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
GDP PC $506CURRENT US$
Rnk 192 / 195
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195
2023
Flag
GDP PC$7,182CURRENT US$
Rnk 102 / 196
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195

About

Madagascar-Thailand Trade: In 2023, Madagascar exported $33.3M to Thailand. The main products that Madagascar exported to Thailand were Precious Stones ($23.1M), Dried Legumes ($3.61M), and Other live plants, cuttings and slips; mushroom spawn ($2.53M). Over the past 5 years the exports of Madagascar to Thailand have increased at an annualized rate of 63.6%, from $2.84M in 2018 to $33.3M in 2023.

In 2023, Madagascar did not export any services to Thailand.

Thailand-Madagascar Trade: In 2023, Thailand exported $34.4M to Madagascar. The main products that Thailand exported to Madagascar were Delivery Trucks ($8.29M), Stearic Acid ($3.8M), and Other Uncoated Paper ($2.46M). Over the past 5 years the exports of Thailand to Madagascar have decreased at an annualized rate of 5.39%,  from $45.4M in 2018 to $34.4M in 2023.

In 2023, Thailand did not export any services to Madagascar.

Comparison: In 2023,  Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B). That same year, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Madagascar exported $33.3M to Thailand. The main products exported from Madagascar to Thailand were Precious Stones ($23.1M), Dried Legumes ($3.61M), and Other live plants, cuttings and slips; mushroom spawn ($2.53M). During the last 5 years the exports of Madagascar to Thailand have increased at an annualized rate of 63.6%, from $2.84M in 2018 to $33.3M in 2023.

In 2018, Thailand exported $34.4M to Madagascar. The main products exported from Thailand to Madagascar were Delivery Trucks ($8.29M), Stearic Acid ($3.8M), and Other Uncoated Paper ($2.46M). During the last 5 years the exports of Thailand to Madagascar have decreased at an annualized rate of 5.39%, from $45.4M in 2023 to $34.4M in 2018.

Exports from Madagascar (Flag) to Thailand (Flag) (2023)

Exports from Thailand (Flag) to Madagascar (Flag) (2023)

Latest Data

Trade between Madagascar (Flag) and Thailand (Flag)

Madagascar Exports

Thailand Exports

Market Competitiveness

Color
Madagascar
Top DestinationUnited States$669M
Thailand
Top DestinationUnited States$58.5B

This map shows whether countries import more from Madagascar or Thailand. Each country is colored based on the difference in imports they receive from Madagascar and Thailand or the difference in the growth in imports.

In 2023, countries that imported more from Madagascar than Thailand included Comoros ($7.69M) and Eritrea ($313k).

In 2023, countries that imported more from Thailand than Madagascar included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

Difference in imports from Thailand (Flag) and Madagascar (Flag) (2023)

Comparative Advantage Madagascar - Thailand

Flow
Scale

This chart compares trade between Madagascar and Thailand by product, considering products traded by both, Madagascar and Thailand.

During 2023, Madagascar had a large net trade with Thailand in the exports of Precious Metals ($24.9M), Vegetable Products ($6.17M), and Textiles ($787k).

During 2018, Thailand had a large net trade with Madagascar in the exports of Transportation ($10.9M), Animal and Vegetable Bi-Products ($4.16M), and Textiles ($3.92M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Madagascar Thailand+$2.83MPrecious Stones
Top Product Potential Thailand Madagascar+$3.53MDelivery Trucks

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Madagascar and Thailand. This means that a dot/product with the flag of Madagascar indicates it has a comparative advantage over Thailand. Similarly, a dot/product with the flag of Thailand indicates it has a comparative advantage over Madagascar.

Product Space of Madagascar (Flag) and Thailand (Flag) (2023)

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