Madagascar2019 Economic Complexity : -1.14, Rank 127 of 146
2019 Product Exports | Imports: $3.2B | $3.94B, 131 of 225 | 145 of 225
2019 Per Capita Product Exports | Imports: $119 | $146, 192 of 219 | 209 of 219
2016 Service Exports | Imports : $1.13B | $1.05B, 108 of 156 | 113 of 156
Overview In 2019 Madagascar was the number 126 economy in the world in terms of GDP (current US$), the number 131 in total exports, the number 145 in total imports, the number 181 economy in terms of GDP per capita (current US$) and the number 127 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Madagascar are Vanilla ($651M), Raw Nickel ($469M), Gold ($201M), Knit Sweaters ($146M), and Precious Stones ($135M), exporting mostly to United States ($615M), France ($576M), United Arab Emirates ($215M), China ($181M), and Japan ($179M).
In 2019, Madagascar was the world's biggest exporter of Vanilla ($651M)
Imports The top imports of Madagascar are Refined Petroleum ($570M), Rice ($178M), Cars ($105M), Packaged Medicaments ($102M), and Light Rubberized Knitted Fabric ($73M), importing mostly from China ($928M), France ($445M), United Arab Emirates ($360M), India ($288M), and South Africa ($190M).
Location Madagascar borders Comoros, France, Mozambique, and Seychelles by sea.
Top Export (2019): Vanilla, $651M
Top Destination (2019): United States, $615M
In 2019, Madagascar exported a total of $3.2B, making it the number 131 exporter in the world. During the last five reported years the exports of Madagascar have changed by $568M from $2.63B in 2014 to $3.2B in 2019.
The most recent exports are led by Vanilla ($651M), Raw Nickel ($469M), Gold ($201M), Knit Sweaters ($146M), and Precious Stones ($135M). The most common destination for the exports of Madagascar are United States ($615M), France ($576M), United Arab Emirates ($215M), China ($181M), and Japan ($179M).
Top Import (2019): Refined Petroleum, $570M
Top Origin (2019): China, $928M
In 2019 Madagascar imported $3.94B, making it the number 145 trade destination in the world. During the last five reported years the imports of Madagascar changed by $375M from $3.57B in 2014 to $3.94B in 2019.
The most recent imports of Madagascar are led by Refined Petroleum ($570M), Rice ($178M), Cars ($105M), Packaged Medicaments ($102M), and Light Rubberized Knitted Fabric ($73M). The most common import partners for Madagascar are China ($928M), France ($445M), United Arab Emirates ($360M), India ($288M), and South Africa ($190M).
Fastest Growing Export Markets (2018 - 2019)
Madagascar Exports Services (2016): $1.13B
Madagascar Imports Services (2016): $1.05B
In 2016, Madagascar exported $1.13B worth of services. The top services exported by Madagascar in 2016 were Personal travel ($750M), Air transport ($195M), Miscellaneous business, professional, and technical services ($55.8M), Sea transport ($47.8M), and Construction in the compiling economy ($26.8M).
The top services imported by Madagascar in 2016 were Sea transport ($334M), Air transport ($242M), Government services, n.i.e. ($180M), Personal travel ($129M), and Miscellaneous business, professional, and technical services ($91.5M).
The top product import tariffs by their MFN Ad Valorem value for Madagascar are Acrylic & vinyl polymer based paint, varnish, in wate (20%) and Acrylic or vinyl polymer paint or varnish, non-aqueou (20%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Madagascar are:
Madagascar has a high level of specialization in Vanilla (3.14k), Graphite (218), Titanium Ore (202), Raw Nickel (186), and Cobalt (137). Specialization is measured using RCA, an index that takes the ratio between Madagascar observed and expected exports in each product.
The highest complexity exports of Madagascar according to the product complexity index (PCI) are Machines to clean, sort, mill seed, grain, dry legumes (0.24), Ether and derivatives (0.14), Imitation jewellery (0.1), Buttons, press and snap fasteners, etc (0.094), and Articles of leather and composition leather, nes (-0.025). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Madagascar according to the relatedness index, are Nutmeg, mace and cardamons (0.17), Fake Hair (0.17), Raw Tobacco (0.17), Tropical Fruits (0.17), and Bananas (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Madagascar is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
During the last 14 years Madagascar's economy has become relatively less complex, moving from the 111th to the 127th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.