Madagascar belongs to the East African Economic Area (African Civilization).
The Republic of Madagascar: one of the poorest African Countries.
Malagasy Economy:
Madagascar is one of the poorest countries in Sub-Saharan Africa;
Malagasy Economic growth: 2.6%;
Malagasy Inflation: 6.9%;
The main sector of the Malagasy economy is agriculture
3.6 million tones of rice (the third African producer);
1 million tones of cereals (maize, potato);
Fruits and vegetables;
Litchies: 70% share of the European market. The first world exporter;
50% of the global vanilla market;
The first world spices and other essential oils exporter.
Malagasy industry (13% of the GDP): soap production, food and tobacco processing, brewing, textiles, and leather;
Ranking in the Doing Business Index (WB): 142;
Malagasy currency: Ariary (not convertible).
International Trade of Madagascar:
Malagasy Exports: 1.251 million Dollars (FOB Value);
Malagasy Imports: 2.619 million Dollars (CIF Value);
Top Malagasy trading partners: France, Singapore, China, Germany, Canada, India, the U.S., Italy, the UK, and Spain;
Trade with the Southern African Development Community (SADC) countries: only 5.3% of the total exports/12% of the total imports;
Trade with the Common Market for Eastern and Southern Africa (COMESA)
countries: only 3% of the total exports/6.9% of the total imports;
Trade with the Indian Ocean Commission countries: only 3.1% of the total exports/5.5% of the total imports;
Foreign Direct Investment in Madagascar: 386 million Dollars.
The mission of the Economic Development Board of Madagascar (Public body) is to
encourage the foreign direct investments and create a friendly business climate.
The Board has defined six strategic sectors for the Malagasy economic development: tourism, agribusiness, light manufacturing industry, Information and communication technologies (ICT), infrastructure, and mining.
(c) EENI Global Business School (1995-2023)
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