Madagascar

Madagascar has a resource-rich economy with growing export sectors including agriculture, mining, textiles, and natural resources. XPand helps Egyptian companies explore opportunities in Madagascar through market-entry support, partnership development, and investment facilitation.

🇲🇬 Madagascar Market Overview

Economic Indicators

Nominal GDP

USD 19 – 20 Billion Reflecting a robust and expanding national economy.

GDP per Capita

USD 600 – 650 Rising purchasing power and living standards.

Real GDP Growth

3.7 – 4.0 % A strong growth trajectory signaling high market potential.

Inflation (Avg 2025)

7 – 8 % Returning to a stable, predictable business environment.

Unemployment Rate (official)

2 – 3 % (informal economy dominant)

Fiscal Balance

–4 % of GDP Managed deficit reflecting ongoing fiscal discipline.

Population

~ 31-32 Million A large, young, and dynamic consumer base.

Public Debt

50 – 55 % of GDP Downward trend, improved debt sustainability.

Top Export Commodities (2023–2024):

Madagascar’s exports are typically diversified among natural resources and agriculture:

1.Minerals (including nickel, chromite, cobalt)

Madagascar is rich in valuable mineral resources, particularly nickel, chromite, and cobalt. These minerals are widely used in global industries such as stainless steel production, battery manufacturing, and advanced industrial applications, making the mining sector an important contributor to the country’s export economy.

2.Agricultural products (vanilla, cloves, lychees)

Agriculture plays a major role in Madagascar’s export sector. The country is one of the world’s leading producers of vanilla and is also known for exporting cloves and lychees. These high-value crops are widely used in the global food, fragrance, and flavor industries.

3.Textiles & Apparel (growing export sector)

The textile and apparel industry is a rapidly growing export sector in Madagascar. Benefiting from competitive labor costs and international trade agreements, the country has become an important manufacturing hub for clothing and textile products exported to global markets.

4.Seafood (shrimp, fish)

Madagascar’s extensive coastline supports a strong seafood export industry. Products such as shrimp and fish are harvested and processed for international markets, contributing significantly to the country’s food exports and supporting local coastal economies.

Recent detailed UN Comtrade exports are consistent with a resource/agriculture mix; Madagascar is often listed among top mineral and agricultural exporters in Africa.