Flag Madagascar

Econ Complexity (2018): -1.31, Rank 123 of 137

Product Exports (2018): $3.48B, Rank 123 of 222

Exports Per Capita (2018): $132, Rank 30 of 219

Product Imports (2018): $4.2B, Rank 140 of 221

Imports Per Capita (2018): $160, Rank 41 of 219

Service Exports (2016): $1.13B, Rank 102 of 135

Service Imports (2016): $1.05B, Rank 105 of 135

GDP (2018): $44.1B, CONST 2011 USD
Rank 109 of 188

GDP growth (2008 - 2018): 24.6%, CONST 2011 USD
Rank 112 of 188

GDP PC (2018): $1,678, CONST 2011 USD
Rank 178 of 188

GDP PC GROWTH (2008 - 2018): -5.15%, CONST 2011 USD
Rank 168 of 188

Overview: In 2018 Madagascar was the number 109 economy in the world in terms of GDP (constant 2011 international USD), the number 123 in total exports, the number 140 in total imports, and the number 123 most complex economy according to the Economic Complexity Index (ECI). In 2018, Madagascar exported $3.48B and imported $4.2B, resulting in a negative trade balance of -$724M. In 2018, Madagascar's exports per capita were $132 and its imports per capita were $160.

Trade: The top exports of Madagascar are Vanilla ($945M), Raw Nickel ($429M), Cobalt ($234M), Knit Sweaters ($159M), and Cloves ($158M). The top imports of Madagascar are Refined Petroleum ($568M), Rice ($211M), Palm Oil ($87.7M), Packaged Medicaments ($83.8M), and Petroleum Gas ($68.9M).

Destinations: Madagascar exports mostly to United States ($709M), France ($668M), Germany ($263M), Japan ($214M), and China ($152M), and imports mostly from China ($972M), France ($449M), United Arab Emirates ($431M), India ($242M), and South Africa ($227M).

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

Product Exports

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Top Export (2018): Vanilla, $945M

Top Destination (2018): United States, $709M

In 2018 Madagascar exported a total of $3.48B, making it the number 123 exporter in the world. During the last five reported years the exports of Madagascar have changed by $1.36B from $2.11B in 2013 to $3.48B in 2018.

The most recent exports are led by Vanilla ($945M), Raw Nickel ($429M), Cobalt ($234M), Knit Sweaters ($159M), and Cloves ($158M). The most common destination for the exports of Madagascar are United States ($709M), France ($668M), Germany ($263M), Japan ($214M), and China ($152M).

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Product Imports

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Top Import (2018): Refined Petroleum, $568M

Top Origin (2018): China, $972M

In 2018 Madagascar imported $4.2B, making it the number 140 trade destination in the world. During the last five reported years the imports of Madagascar changed by $1.37B from $2.83B in 2013 to $4.2B in 2018.

The most recent imports of Madagascar are led by Refined Petroleum ($568M), Rice ($211M), Palm Oil ($87.7M), Packaged Medicaments ($83.8M), and Petroleum Gas ($68.9M). The most common import partners for Madagascar are China ($972M), France ($449M), United Arab Emirates ($431M), India ($242M), and South Africa ($227M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Madagascar. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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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.

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*The tariffs applied to imports for Madagascar are:
115: Common Market for Eastern and Southern Africa (Group I) FTA Member States
136: Most Favoured Nation duty rate treatement
211: Preferential tariff for Eritrea (COMESA)
215: Preferential tariff for Ethiopia (COMESA) Excluded Eritrea
219: Preferential tariff for European Union countries (AA) Association Agreement
240: Preferential tariff for Indian Ocean Commission (IOC) member states

Economic Complexity

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Economic Complexity Ranking

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During the last 16 years Madagascar's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨96th to the 123rd⁩ 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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Most Specialized Products by RCA Index

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Madagascar has a high level of specialization in Vanilla (3.39k), Raw Nickel (162), Graphite (160), Cobalt (157), and Titanium Ore (152). Specialization is measured using RCA, an index that takes the ratio between Madagascar observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Madagascar according to the product complexity index (PCI) are Derricks, cranes, straddle carriers, crane trucks (0.95), Nickel waste or scrap (0.21), Ether and derivatives (0.17), Watch straps, bands, bracelets, and parts thereof (-0.024), and Organic compounds, nes (-0.076). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Madagascar according to the relatedness index, are Tea (0.17), Fake Hair (0.17), Knit Men's Undergarments (0.17), Rubber (0.16), and Tropical Fruits (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.

Diversification Frontier

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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.