Key Market Indicators
Malagasy lighting imports are projected to increase to approximately $3.78 million by 2028, up from around $3.16 million in 2023. This growth represents a compound annual growth rate (CAGR) of 2.8%. Historical data shows that since 1995, the demand for lighting in Madagascar has grown steadily by 4% annually. In contrast, Malagasy lighting exports are expected to decline to roughly $31,880 by 2028, down from about $36,600 in 2023. This decrease translates to an average annual rate of 2.2%. However, it's worth noting that since 1996, the supply of Malagasy lighting products has surged by an impressive 28.6% each year.
