The Gross Domestic Product (GDP) in Madagascar expanded 5 percent in 2018 from the previous year. GDP Annual Growth Rate in Madagascar averaged 2.05 percent from 1961 until 2018, reaching an all time high of 9.85 percent in 1979 and a record low of -12.70 percent in 2002.

GDP Annual Growth Rate in Madagascar is expected to be 5.20 percent by the end of this quarter, 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 6.00 percent in 2020, according to our econometric models.

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Madagascar GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.00 4.20 9.85 -12.70 1961 - 2018 percent Yearly

Madagascar GDP Annual Growth Rate
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.

Madagascar GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 5.00 4.20 9.85 -12.70 percent [+]
GDP 12.10 11.47 12.10 0.67 USD Billion [+]
GDP per capita 432.70 422.40 755.00 374.50 USD [+]
GDP per capita PPP 1452.60 1418.30 1653.20 1257.30 USD [+]