Madagascar (MDG) and Greece (GRC) Trade | The Observatory of Economic Complexity

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Madagascar-Greece Trade: In 2022, Madagascar exported $1.76M to Greece. The main products that Madagascar exported to Greece were Dried Legumes ($706k), Cloves ($340k), and Non-fillet Frozen Fish ($110k). Over the past 5 years the exports of Madagascar to Greece have increased at an annualized rate of 4.22%, from $1.43M in 2017 to $1.76M in 2022.

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

Greece-Madagascar Trade: In 2022, Greece exported $2.24M to Madagascar. The main products that Greece exported to Madagascar were Motor vehicles; parts and accessories (8701 to 8705) ($307k), Metal Mountings ($283k), and Large Construction Vehicles ($170k). Over the past 5 years the exports of Greece to Madagascar have decreased at an annualized rate of 3.53%, from $2.68M in 2017 to $2.24M in 2022.

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

Comparison: In 2022, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B). That same year, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Madagascar exported $1.76M to Greece. The main products exported from Madagascar to Greece were Dried Legumes ($706k), Cloves ($340k), and Non-fillet Frozen Fish ($110k). During the last 5 years the exports of Madagascar to Greece have increased at an annualized rate of 4.22%, from $1.43M in 2017 to $1.76M in 2022.

In 2017, Greece exported $2.24M to Madagascar. The main products exported from Greece to Madagascar were Motor vehicles; parts and accessories (8701 to 8705) ($307k), Metal Mountings ($283k), and Large Construction Vehicles ($170k). During the last 5 years the exports of Greece to Madagascar have decreased at an annualized rate of 3.53%, from $2.68M in 2022 to $2.24M in 2017.

Exports from Madagascar () to Greece () (2022)

Exports from Greece () to Madagascar () (2022)

Latest Data

Trade between Madagascar () and Greece ()

Madagascar Exports

Date

Greece Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Madagascar
Top DestinationUnited States$756M

Greece
Top DestinationItaly$5.82B

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

In 2022, countries that imported more from Madagascar than Greece included Japan ($448M), Indonesia ($147M), and Chinese Taipei ($104M).

In 2022, countries that imported more from Greece than Madagascar included Italy ($5.82B), Bulgaria ($3.62B), and Germany ($3.45B).

Difference in imports from Greece () and Madagascar () (2022)

Comparative Advantage Madagascar - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Madagascar had a large net trade with Greece in the exports of Vegetable Products ($1.18M), Textiles ($201k), and Animal Products ($111k).

During 2017, Greece had a large net trade with Madagascar in the exports of Machines ($719k), Metals ($713k), and Transportation ($307k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Madagascar Greece+$309kDried Legumes

Top Product Potential Greece Madagascar+N/AN/A

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

Year

This visualization shows the product space at the HS4 level with the flags of Madagascar and Greece. This means that a dot/product with the flag of Madagascar indicates it has a comparative advantage over Greece. Similarly, a dot/product with the flag of Greece indicates it has a comparative advantage over Madagascar.

About

Historical Data

Bilateral Trade by Products

Exports from Madagascar () to Greece () (2022)

Exports from Greece () to Madagascar () (2022)

Latest Data

Trade between Madagascar () and Greece ()

Madagascar Exports

Greece Exports

Market Competitiveness

Difference in imports from Greece () and Madagascar () (2022)

Comparative Advantage Madagascar - Greece

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Madagascar () and Greece () (2022)

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