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Madagascar : economy statistics and industry reports
- Updated on : 27 August 2012 Source : The World Factbook
Imports
$3.709 billion (2011 est.)$3.534 billion (2010 est.)
Exports
$1.389 billion (2011 est.)$1.173 billion (2010 est.)
Inflation rate (consumer prices)
9.5% (2011 est.)9.2% (2010 est.)
GDP - per capita (PPP)
$900 (2011 est.)$1,000 (2010 est.)
$1,000 (2009 est.)
note: data are in 2011 US dollars
National product real growth rate
1.5% (2010 est.)-1% (2009 est.)
7% (2008 est.)
Internet users
319,900 (2009)Telephones - mobile cellular
8.242 million (2009)Population growth rate
2.952% (2012 est.)Population
22,585,517 (July 2012 est.)About this country
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Historical background
Formerly an independent kingdom, Madagascar became a French colony in 1896 but regained independence in 1960.
During 1992-93, free presidential and National Assembly elections were held ending 17 years of single-party rule.
In 1997, in the second presidential race, Didier RATSIRAKA, the leader during the 1970s and 1980s, was returned to the presidency.
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Economic overview
After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization that has been undermined since the start of the political crisis.
This strategy placed the country on a slow and steady growth path from an extremely low level.
Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population.
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