Skip to main content

Laboratoire de la finance africaine


Preview 2018
Projected Real GDP Growth (% Change) : 5.2
GDP (current, USD Bn) : 13.90
Projected Consumer Prices (% Change) : 6.2
Country Population : 27.8 million
Economic performance and outlook

Real GDP growth in 2019 is estimated at 5.2%. The primary sector, with 22.4% in 2019, is driven by traditional agriculture, greatly exposed to the effects of climate change (droughts, cyclones). In a shifting environment, exporting companies (extractive industries in an export processing zone) drove the secondary sector’s contribution up from 18.5% in 2015 to 21.3% in 2019. There was no significant change in the tertiary sector (growth of 0.8 point), the largest in the economy, with 58% of GDP in 2019, but driven by the least productive sectors, where informal activities are concentrated (trade, transport).

(Download detailed Analysis Source : Report African Economic Outlook 2020 ; AfDB)

Financial markets

At the end of 2019, the banking sector of Madagascar represented a total asset of $ 2.3 billion.
Credit distributed to private sector in 2019 represents $ 1.2 billion.