Madagascar flag Madagascar: Visió econòmica i política

Xifres de comerç exterior de Madagascar

Foreign Trade in Figures

Foreign trade accounts for 50% of Madagascar’s GDP (World Bank), a country that collects a large share of its revenues in the form of customs duties, import taxes and VAT on imports. Madagascar is the 135th exporting economy in the world and the 134th importer (WTO). The country is a member of the WTO and COMESA (Common Market for Eastern and Southern Africa) and does not have significant non-tariff barriers. In addition, most products can be imported without an import license. The country mainly exports vanilla (22.2%), raw nickel (18.4%), clothing (9.1%), titanium ores (5%), cloves (4.2%), cobalt (3.9%), crustaceans (3.4%) and essential oils (2.8%). Its main imports are petroleum oils (13.6%), rice (6.2%), fabrics (2.7%), palm oil (2.6%), medicines (2.5%), and sugar (2%) (Comtrade, 2021).

Madagascar's main customers are France (19.2% of total exports), the United States, China, Japan, the Netherlands and Canada. Its main suppliers are China (19.4% of total imports), France, Oman, India, the United Arab Emirates, Mauritius and South Africa (Comtrade, 2021). Despite its abundant resources, Madagascar still struggles to channel its trade revenues into further development. Like other island states, Madagascar faces high transportation costs. The lack of well-developed infrastructure makes commercial transactions expensive, hindering private sector competitiveness. However, the country aims to improve logistics at the main ports and airports in order to improve trade. While the European Union is by far the largest client of Malagasy products, exports to member states of North American Free Trade Agreement have received a huge boost since 2017 following a decision by the United States to reinstate Madagascar in its trade preference programme (Africa Growth and Opportunity Act).

The country's trade balance has been traditionally negative and despite a steady increase in exports, this trend is unlikely to be reversed over the medium-term as imports continue to outpace exports. In 2021, merchandise exports amounted to USD 2.73 billion, while imports reached USD 4.41 billion. Exports of services amounted to USD 589 million, and imports reached USD 1.18 billion (WTO). In 2021, exports of goods and services increased by 11.6% compared to 2020, while imports increased by 7.3% (World Bank).

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 3,6704,0613,9423,2244,408
Exports of Goods (million USD) 2,8483,1102,6961,9872,726
Imports of Services (million USD) 1,0891,1231,0226501,180
Exports of Services (million USD) 1,2441,3411,449626589

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20172018201920202021
Foreign Trade (in % of GDP) 65.367.862.649.050.4
Trade Balance (million USD) -450-458-844-900-969
Trade Balance (Including Service) (million USD) -344-414-603-1,129-1,427
Imports of Goods and Services (Annual % Change) 23.711.14.6-16.67.4
Exports of Goods and Services (Annual % Change) 45.42.410.9-36.611.6
Imports of Goods and Services (in % of GDP) 34.436.334.228.929.4
Exports of Goods and Services (in % of GDP) 30.931.528.420.121.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20222023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) 15.29.32.18.6-3.7
Volume of imports of goods and services (Annual % change) 3.815.12.59.2-1.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Madagascar is a member of the WTO, the Common Market for Eastern and Southern Africa (COMESA), and the South African Development Community (SADC)
 

Main Partner Countries

Main Customers
(% of Exports)
2021
France 19.2%
United States 18.1%
China 13.2%
Japan 8.7%
Netherlands 5.2%
See More Countries 35.4%
Main Suppliers
(% of Imports)
2021
China 19.4%
France 10.2%
Oman 10.2%
India 8.3%
United Arab Emirates 5.9%
See More Countries 46.0%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

2.8 bn USD of products exported in 2021
VanillaVanilla 22.2%
Unwrought nickelUnwrought nickel 18.4%
Titanium ores and concentratesTitanium ores and concentrates 5.0%
Cloves, whole fruit, cloves and stemsCloves, whole fruit, cloves and stems 4.2%
Cobalt mattes and other intermediate products of...Cobalt mattes and other intermediate products of cobalt metallurgy; cobalt and articles thereof, n.e.s.; cobalt waste and scrap (excl. ash and residues containing cobalt) 3.9%
See More Products 46.3%
4.4 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 13.6%
RiceRice 6.2%
Fabrics, knitted or crocheted, of a width of > 30...Fabrics, knitted or crocheted, of a width of > 30 cm (excl. warp knit fabrics "incl. those made on galloon knitting machines", those containing by weight >= 5% of elastomeric yarn or rubber thread, and pile fabrics, incl. "long pile", looped pile fabrics, labels, badges and similar articles, and knitted or crocheted fabrics, impregnated, coated, covered or laminated) 2.7%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified) 2.6%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.5%
See More Products 72.4%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

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Actualitzacions: June 2023

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