The Gross Domestic Product (GDP) in Madagascar expanded 5.20 percent in 2019 from the previous year.

GDP Annual Growth Rate in Madagascar averaged 2.10 percent from 1961 until 2019, reaching an all time high of 9.85 percent in 1979 and a record low of -12.70 percent in 2002. This page provides - Madagascar GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Madagascar GDP Annual Growth Rate - values, historical data and charts - was last updated on September of 2020.

GDP Annual Growth Rate in Madagascar is expected to reach -2.00 percent by the end of 2020, 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 5.00 percent in 2021 and 4.70 percent in 2022, according to our econometric models.

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Madagascar GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.20 5.00 9.85 -12.70 1961 - 2019 percent Yearly

Madagascar GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 5.20 5.00 9.85 -12.70 percent [+]
GDP 14.08 13.85 14.08 0.67 USD Billion [+]
GDP per capita 500.20 490.10 863.30 428.20 USD [+]
GDP per capita PPP 1646.20 1613.10 1853.10 1409.40 USD [+]

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.