Key Market Indicators
In 2023, Madagascar's truck exports dropped to approximately $208,000, marking a 21.7% decrease from $265,000 in 2022. This decline continues a long-term trend, as the country's truck supply has decreased by 21.4% annually since 1995. Madagascar ranked 84th in the global export market for trucks in 2023, with Antigua and Barbuda surpassing it at the same export value of $208,000. The leading countries in this ranking were the United States, Germany, and France, occupying the second, third, and fourth positions respectively. On the import side, Madagascar's truck imports are projected to reach nearly $126 million by 2028. This figure represents an increase from approximately $108 million in 2023, with a compound annual growth rate (CAGR) of 2.5%. Since 1995, the country's demand for imported trucks has risen by 4.2% annually.