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2023
Flag → Flag
Exports $182kRnk 167 / 200
2023
Flag → Flag
Top Product $64.3kButtons
2023
Flag → Flag
Exports $1.09MRnk 77 / 156
2023
Flag → Flag
Top Product $430kKnit Sweaters
2023
Flag
Economic Complexity (ECI) ECI -0.44Rnk 85 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag  
GDP$84.4BCURRENT US$
Rnk 75 / 195
2013-2023
Flag
GDP GROWTH9.55%CURRENT US$
Rnk 157 / 195
2023
Flag
 GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 195
2023
Flag
GDP PC $3,828CURRENT US$
Rnk 132 / 195
2013-2023
Flag
GDP PC GROWTH2.34%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC$506CURRENT US$
Rnk 192 / 196
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195

About

Sri Lanka-Madagascar Trade: In 2023, Sri Lanka exported $182k to Madagascar. The main products that Sri Lanka exported to Madagascar were Buttons ($64.3k), Sewing Machines ($25.6k), and Paper Containers ($14k). Over the past 5 years the exports of Sri Lanka to Madagascar have decreased at an annualized rate of 15.6%, from $423k in 2018 to $182k in 2023.

In 2023, Sri Lanka did not export any services to Madagascar.

Madagascar-Sri Lanka Trade: In 2023, Madagascar exported $1.09M to Sri Lanka. The main products that Madagascar exported to Sri Lanka were Knit Sweaters ($430k), Plaiting Products ($315k), and Vegetable Plaiting Materials ($178k). Over the past 5 years the exports of Madagascar to Sri Lanka have decreased at an annualized rate of 18.2%,  from $2.98M in 2018 to $1.09M in 2023.

In 2023, Madagascar did not export any services to Sri Lanka.

Comparison: In 2023,  Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B). That same year, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sri Lanka exported $182k to Madagascar. The main products exported from Sri Lanka to Madagascar were Buttons ($64.3k), Sewing Machines ($25.6k), and Paper Containers ($14k). During the last 5 years the exports of Sri Lanka to Madagascar have decreased at an annualized rate of 15.6%, from $423k in 2018 to $182k in 2023.

In 2018, Madagascar exported $1.09M to Sri Lanka. The main products exported from Madagascar to Sri Lanka were Knit Sweaters ($430k), Plaiting Products ($315k), and Vegetable Plaiting Materials ($178k). During the last 5 years the exports of Madagascar to Sri Lanka have decreased at an annualized rate of 18.2%, from $2.98M in 2023 to $1.09M in 2018.

Exports from Sri Lanka (Flag) to Madagascar (Flag) (2023)

Exports from Madagascar (Flag) to Sri Lanka (Flag) (2023)

Latest Data

Trade between Sri Lanka (Flag) and Madagascar (Flag)

Sri Lanka Exports

Date

Madagascar Exports

Market Competitiveness

Color
Sri Lanka
Top DestinationUnited States$2.98B
Madagascar
Top DestinationUnited States$669M

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

In 2023, countries that imported more from Sri Lanka than Madagascar included United States ($2.98B), India ($991M), and United Kingdom ($900M).

In 2023, countries that imported more from Madagascar than Sri Lanka included France ($641M), South Korea ($271M), and South Africa ($161M).

Difference in imports from Madagascar (Flag) and Sri Lanka (Flag) (2023)

Comparative Advantage Sri Lanka - Madagascar

Flow
Scale

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

During 2023, Sri Lanka had a large net trade with Madagascar in the exports of Miscellaneous ($71.5k), Machines ($34.8k), and Paper Goods ($27.5k).

During 2018, Madagascar had a large net trade with Sri Lanka in the exports of Textiles ($501k), Wood Products ($315k), and Vegetable Products ($256k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sri Lanka Madagascar+$36.7kActivated Carbon
Top Product Potential Madagascar Sri Lanka+$99.2kPrecious Stones

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

Product Space of Sri Lanka (Flag) and Madagascar (Flag) (2023)

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