2023
Flag  
GDP
$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH
27.1%CURRENT US$
Rnk 120 / 195
2023
Flag
 GDP
$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH
25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC 
$506CURRENT US$
Rnk 192 / 195
2013-2023
Flag
GDP PC GROWTH
-1.77%CURRENT US$
Rnk 155 / 195
2023
Flag
GDP PC
$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH
24.3%CURRENT US$
Rnk 90 / 195

About

Madagascar-Uruguay Trade: In 2023, Madagascar exported $121k to Uruguay. The main products that Madagascar exported to Uruguay were Non-Knit Men's Shirts ($43k), Knit Sweaters ($42.9k), and Non-Knit Women's Suits ($7.44k). Over the past 5 years the exports of Madagascar to Uruguay have decreased at an annualized rate of 2.21%, from $135k in 2018 to $121k in 2023.

In 2023, Madagascar did not export any services to Uruguay.

Uruguay-Madagascar Trade: In 2023, Uruguay exported $494k to Madagascar. The main products that Uruguay exported to Madagascar were Concentrated Milk ($282k), Bovine, Sheep, and Goat Fat ($153k), and Raw Plastic Sheeting ($33k). Over the past 5 years the exports of Uruguay to Madagascar have increased at an annualized rate of 64.5%,  from $41k in 2018 to $494k in 2023.

In 2023, Uruguay did not export any services to Madagascar.

Comparison: In 2023,  Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B). That same year, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Madagascar exported $121k to Uruguay. The main products exported from Madagascar to Uruguay were Non-Knit Men's Shirts ($43k), Knit Sweaters ($42.9k), and Non-Knit Women's Suits ($7.44k). During the last 5 years the exports of Madagascar to Uruguay have decreased at an annualized rate of 2.21%, from $135k in 2018 to $121k in 2023.

In 2018, Uruguay exported $494k to Madagascar. The main products exported from Uruguay to Madagascar were Concentrated Milk ($282k), Bovine, Sheep, and Goat Fat ($153k), and Raw Plastic Sheeting ($33k). During the last 5 years the exports of Uruguay to Madagascar have increased at an annualized rate of 64.5%, from $41k in 2023 to $494k in 2018.

Exports from Madagascar (Flag) to Uruguay (Flag) (2023)

Exports from Uruguay (Flag) to Madagascar (Flag) (2023)

Latest Data

Trade between Madagascar (Flag) and Uruguay (Flag)

Madagascar Exports

Uruguay Exports

Market Competitiveness

Color
Madagascar
Top Destination
United States$669M
Uruguay
Top Destination
China$2.34B

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

In 2023, countries that imported more from Madagascar than Uruguay included France ($641M), Japan ($345M), and South Korea ($271M).

In 2023, countries that imported more from Uruguay than Madagascar included China ($2.34B), Brazil ($1.92B), and Argentina ($569M).

Difference in imports from Uruguay (Flag) and Madagascar (Flag) (2023)

Comparative Advantage Madagascar - Uruguay

Flow
Scale

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

During 2023, Madagascar had a large net trade with Uruguay in the exports of Textiles ($102k), Vegetable Products ($9.34k), and Wood Products ($7.37k).

During 2018, Uruguay had a large net trade with Madagascar in the exports of Animal Products ($282k), Animal and Vegetable Bi-Products ($153k), and Plastics and Rubbers ($33k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Madagascar Uruguay+$86.8kNon-Knit Men's Shirts
Top Product Potential Uruguay Madagascar+$187kConcentrated Milk

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

Product Space of Madagascar (Flag) and Uruguay (Flag) (2023)

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