Madagascar's economy is estimated to have expanded by 4.3% in 2024, according to the AFDB. GDP Annual Growth Rate in Madagascar averaged 2.07 percent from 1961 until 2024, reaching an all time high of 9.85 percent in 1979 and a record low of -12.70 percent in 2002. source: Institut National de la Statistique de Madagascar
GDP Annual Growth Rate in Madagascar is expected to reach 4.00 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Madagascar GDP Annual Growth Rate is projected to trend around 4.20 percent in 2026 and 4.50 percent in 2027, according to our econometric models.
Madagascar is one of the poorest countries in the world with over 70 percent of population living below the poverty line. Madagascar’s economy depends on agriculture (shrimps, spices, coffee, cacao, cotton, tobacco are the most important products), ecotourism and mining (graphite, chromie). After years of stable growth, the country faced a military coup in 2009. As a result, the economic activity slowed down substantially, tourism revenues dropped and financial aid for the country was halted. Yet, as democracy and order return to Madagascar, tourism and foreign direct investments are recovering and increasing expectations of fast recovery.
|
Actual |
Previous |
Highest |
Lowest |
Dates |
Unit |
Frequency |
|
|
4.30 |
4.20 |
9.85 |
-12.70 |
1961 - 2024 |
percent |
Yearly |
|