Madagascar: economy and key statistics
Madagascar is number 134 in the 311 Nations Index, with a GDP of $19.6 billion in 2025. GDP per person is $599. The economy grew by 3.0% in 2025. Unemployment is 3.0%. The economy is 49% services, 24% industry, 22% agriculture.
Part of the 311 Nations Index (311institute.com). Last updated .
National power
Madagascar is number 123 in the 311 National Power Index, scoring 27.6 out of 100: economic 45, technology 9, military 13 and human capital 55.
Economy at a glance
| Indicator | Latest figure | Year |
|---|---|---|
| GDP | $19.6 billion | 2025 |
| GDP (purchasing power) | $63.9 billion | 2025 |
| GDP per person | $599 | 2025 |
| Economic growth | +3.0% | 2025 |
| Inflation | 8.1% | 2025 |
| Unemployment | 3.0% | 2025 |
| Population | 32.7 million | 2025 |
| Labour force | 17.1 million | 2025 |
| Services share of GDP | 49% | 2025 |
| Industry share of GDP | 24% | 2025 |
| Manufacturing share of GDP | 13% | 2024 |
| Agriculture share of GDP | 22% | 2025 |
| Exports share of GDP | 21% | 2025 |
| Foreign direct investment | 3.4% of GDP | 2024 |
| High-tech share of manufactured exports | 1% | 2024 |
| Internet users | 19% of people | 2024 |
Main export industries
Madagascar exported goods worth about $2.6bn in 2024. Its biggest export industries:
- Nickel and articles thereof: $0.5bn (18.1% of goods exports)
- Coffee, tea, mate and spices: $0.4bn (17.5% of goods exports)
- Apparel and clothing accessories: $0.3bn (10.7% of goods exports)
- Ores, slag and ash: $0.2bn (9.3% of goods exports)
- Apparel and clothing accessories: $0.2bn (8.6% of goods exports)
Source: UN Comtrade, goods only (services exports are not included).
Other economies in Africa
- South Africa (#40)
- Nigeria (#50)
- Kenya (#62)
- Ethiopia (#67)
- Angola (#69)
- Ghana (#70)
- Côte d'Ivoire (#77)
- DR Congo (#81)
- Tanzania (#83)
- Uganda (#89)
- Sudan (#91)
- Cameroon (#92)
- Zimbabwe (#96)
- Senegal (#108)
- Mali (#114)
Questions and answers
How big is the economy of Madagascar?
Madagascar had a GDP of $19.6 billion in 2025, ranking number 134 in the 311 Nations Index.
What is GDP per person in Madagascar?
GDP per person in Madagascar was $599 in 2025.
How fast is the economy of Madagascar growing?
The economy of Madagascar grew by 3.0% in 2025.
Source: World Bank, World Development Indicators (CC BY 4.0).
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