Overview In 2020 Madagascar was the number 131 economy in the world in terms of GDP (current US$), the number 135 in total exports, the number 147 in total imports, the number 192 economy in terms of GDP per capita (current US$) and the number 115 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Madagascar are Vanilla ($539M), Gold ($187M), Raw Nickel ($164M), Knit Sweaters ($126M), and Titanium Ore ($101M), exporting mostly to United States ($503M), France ($487M), United Arab Emirates ($198M), Germany ($197M), and China ($137M).

In 2020, Madagascar was the world's biggest exporter of Vanilla ($539M)

Imports The top imports of Madagascar are Refined Petroleum ($374M), Rice ($169M), Palm Oil ($102M), Packaged Medicaments ($97.6M), and Light Rubberized Knitted Fabric ($67.3M), importing mostly from China ($993M), France ($357M), India ($295M), United Arab Emirates ($223M), and South Africa ($135M).

Location Madagascar borders Comoros, France, Mozambique, and Seychelles by sea.

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The following section uses the most recent trade data from partners of Madagascar.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Top Export (2020): Vanilla, $539M

Top Destination (2020): United States, $993M

In 2020, Madagascar exported a total of $2.47B, making it the number 135 exporter in the world. During the last five reported years the exports of Madagascar have changed by -$88.9M from $2.56B in 2015 to $2.47B in 2020.

The most recent exports are led by Vanilla ($539M), Gold ($187M), Raw Nickel ($164M), Knit Sweaters ($126M), and Titanium Ore ($101M). The most common destination for the exports of Madagascar are United States ($503M), France ($487M), United Arab Emirates ($198M), Germany ($197M), and China ($137M).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

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Most Specialized Products by RCA Index

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Madagascar has a high level of specialization in Vanilla (3.9k), Titanium Ore (286), Graphite (226), Raw Nickel (100), and Niobium, Tantalum, Vanadium and Zirconium Ore (92.9). Specialization is measured using RCA, an index that takes the ratio between Madagascar observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Madagascar according to the relatedness index, are Tea (0.2), Jute Woven Fabric (0.19), Nutmeg, mace and cardamons (0.19), Other Cloth Articles (0.19), and Fake Hair (0.19). 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 a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Madagascar. These are products that tend to be co-exported with the products that Madagascar exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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During the last 7 years Madagascar's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨111th to the 115th⁩ 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.

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