2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$15BCURRENT US$
Rnk 131 / 186
2012-2022
Flag
GDP GROWTH
29.2%CURRENT US$
Rnk 104 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$505CURRENT US$
Rnk 182 / 186
2012-2022
Flag
GDP PC GROWTH
0.17%CURRENT US$
Rnk 139 / 186

About

Norway-Madagascar Trade: In 2022, Norway exported $82.5k to Madagascar. The main products that Norway exported to Madagascar were Carbides ($44.6k), Fishing and Hunting Equipment ($15.9k), and Broadcasting Equipment ($4.21k). Over the past 5 years the exports of Norway to Madagascar have decreased at an annualized rate of 26.8%, from $394k in 2017 to $82.5k in 2022.

In 2022, Norway did not export any services to Madagascar.

Madagascar-Norway Trade: In 2022, Madagascar exported $2.85M to Norway. The main products that Madagascar exported to Norway were Vanilla ($1.45M), Knit Sweaters ($153k), and Cloves ($135k). Over the past 5 years the exports of Madagascar to Norway have increased at an annualized rate of 14.9%,  from $1.42M in 2017 to $2.85M in 2022.

In 2022, Madagascar did not export any services to Norway.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $82.5k to Madagascar. The main products exported from Norway to Madagascar were Carbides ($44.6k), Fishing and Hunting Equipment ($15.9k), and Broadcasting Equipment ($4.21k). During the last 5 years the exports of Norway to Madagascar have decreased at an annualized rate of 26.8%, from $394k in 2017 to $82.5k in 2022.

In 2017, Madagascar exported $2.85M to Norway. The main products exported from Madagascar to Norway were Vanilla ($1.45M), Knit Sweaters ($153k), and Cloves ($135k). During the last 5 years the exports of Madagascar to Norway have increased at an annualized rate of 14.9%, from $1.42M in 2022 to $2.85M in 2017.

Exports from Norway (Flag) to Madagascar (Flag) (2022)

Exports from Madagascar (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Madagascar
Top Destination
United States$756M

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

In 2022, countries that imported more from Norway than Madagascar included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Madagascar than Norway included Mauritius ($44.7M), South Africa ($152M), and Ethiopia ($12.2M).

Difference in imports from Madagascar (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Madagascar

Flow
Scale

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

During 2022, Norway had a large net trade with Madagascar in the exports of Chemical Products ($44.6k), Miscellaneous ($16.1k), and Instruments ($9.88k).

During 2017, Madagascar had a large net trade with Norway in the exports of Vegetable Products ($1.71M), Textiles ($934k), and Foodstuffs ($124k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Madagascar+$16kCarbides
Top Product Potential Madagascar Norway+$484kKnit Sweaters

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 Norway and Madagascar. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Madagascar. Similarly, a dot/product with the flag of Madagascar indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Madagascar (Flag) (2022)

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