Economy of Madagascar

Economy

Gross Domestic Product 2012

GDP (purchasing power parity): $21.37 billion (2012 est.)

GDP real growth rate: 1.9% (2012 est.)

GDP per capita (PPP): $1,000 (2012 est.)

GDP composition by sector

Agriculture: 28.3%

Industry: 16.5%

Services: 55.2% (2012 est.)

Inflation: 9.2% (2012 est.)

Currency: Malagasy franc

Business Languages

  • Malagasy
  • French
  • English

Transport

Less than 15% of the country’s roads are paved and those paved are not properly maintained. Non-paved roads are often very muddy, sandy or rocky. Cargo boats are the primary means of transport on the north coast. Boat travel on the east coast is generally unsafe during the rainy season between May and September. The country has four railway lines and Ivato International Airport located in Antananarivo, the capital of Madagascar is the main airport and the major hub for Air Madagascar.

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  Energy

The main sources of energy in Madagascar are diesel power, hydropower and biomass. Hydro power      makes up about 5% of the energy used in Madagascar while biomass accounts for 82 percent of the island’s energy.

Challenges in Madagascar

  • Deforestation and habitat destruction
  • Agricultural fires
  • Erosion and soil degradation
  • Overexploitation of living resources including hunting and over-collection of species from the wild
  • Infrastructure underdevelopment

 



 

 

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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