Madagascar GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Madagascar's GDP changed from approximately $5B 202M in 1980 to $16B 465M in 2024, showing an overall 216.5% sharply increased during the period.
The lowest GDP was recorded in 1989 at $3B 176M, and the highest in 2024 at $16B 465M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 2.7%.
For comparison, the average annual growth rate of Comoros was 4.1%, and that of Mozambique was 3.7%.

Overview of Madagascar's GDP (1980–2024)

The Gross Domestic Product (GDP) of Madagascar recorded a 216.5% sharply increased from 1980 to 2024.
The average GDP during this period was $7B 702M, and the median was $5B 352M.
GDP fluctuated within a range of $13B 289M, with a standard deviation of $4B 297M.
The average annual change was $297M 212K.


Madagascar GDP from 1980 to 2024

The total market value of goods and services produced annually in Madagascar.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1989, $3B 176M
    • Highest GDP: 2024, $16B 465M
    • Most Recent GDP: 2024, $16B 465M

    Notable Annual GDP Changes

    • 2008: Significant increase in GDP
    • 2004: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Madagascar's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $14B 105M → $13B 51M
    • Outcome: declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $8B 525M → $9B 617M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $4B 629M → $5B 438M
    • Outcome: sharply increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $4B 263M → $4B 402M
    • Outcome: increased

    Key Economic Indicators of Madagascar (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 5B 202M
    $ 599.37
    $ 1,021.74
    $ 8B 867M
    0.788 %
    -10.695 %
    35.90 %
    -10.653 %
    8M 679K people
    1981
    $ 4B 759M
    $ 534.07
    $ 982.48
    $ 8B 755M
    -9.8 %
    -7.623 %
    28.06 %
    -9.447 %
    8M 911K people
    1982
    $ 4B 785M
    $ 522.94
    $ 996.65
    $ 9B 120M
    -1.9 %
    -6.256 %
    20.09 %
    -6.309 %
    9M 150K people
    1983
    $ 4B 686M
    $ 498.80
    $ 1,017.73
    $ 9B 562M
    0.9 %
    -5.272 %
    20.73 %
    -5.298 %
    9M 395K people
    1984
    $ 3B 906M
    $ 404.88
    $ 1,045.02
    $ 10B 82M
    1.76 %
    -4.949 %
    21.87 %
    -5.091 %
    9M 647K people
    1985
    $ 3B 803M
    $ 383.87
    $ 1,062.06
    $ 10B 521M
    1.156 %
    -4.827 %
    13.94 %
    -1.38 %
    9M 906K people
    1986
    $ 4B 348M
    $ 427.48
    $ 1,075.85
    $ 10B 943M
    1.96 %
    -3.281 %
    17.23 %
    -1.305 %
    10M 171K people
    1987
    $ 3B 213M
    $ 307.64
    $ 1,086.35
    $ 11B 346M
    1.175 %
    -4.383 %
    20.62 %
    -1.12 %
    10M 444K people
    1988
    $ 3B 189M
    $ 297.42
    $ 1,132.63
    $ 12B 146M
    3.407 %
    -4.703 %
    12.90 %
    0.687 %
    10M 724K people
    1989
    $ 3B 176M
    $ 288.40
    $ 1,193.03
    $ 13B 137M
    4.075 %
    -2.64 %
    38.11 %
    -2.067 %
    11M 11K people
    1990
    $ 3B 931M
    $ 347.71
    $ 1,243.09
    $ 14B 55M
    3.129 %
    -6.74 %
    29.22 %
    0.689 %
    11M 306K people
    1991
    $ 3B 255M
    $ 280.36
    $ 1,172.66
    $ 13B 614M
    -6.306 %
    -7.059 %
    23.62 %
    -2.734 %
    11M 609K people
    1992
    $ 3B 715M
    $ 311.65
    $ 1,181.88
    $ 14B 88M
    1.181 %
    -5.32 %
    30.77 %
    -2.235 %
    11M 920K people
    1993
    $ 4B 62M
    $ 332
    $ 1,203.14
    $ 14B 725M
    2.1 %
    -6.354 %
    31.52 %
    -3.017 %
    12M 239K people
    1994
    $ 3B 522M
    $ 279.38
    $ 1,192.42
    $ 15B 33M
    -0.042 %
    -7.865 %
    25.01 %
    -2.679 %
    12M 607K people
    1995
    $ 3B 838M
    $ 295.54
    $ 1,201.69
    $ 15B 606M
    1.679 %
    -7.191 %
    1.68 %
    -0.886 %
    12M 987K people
    1996
    $ 4B 932M
    $ 368.66
    $ 1,213.52
    $ 16B 234M
    2.154 %
    -3.095 %
    6.43 %
    -0.18 %
    13M 378K people
    1997
    $ 4B 263M
    $ 309.35
    $ 1,242.64
    $ 17B 123M
    3.693 %
    -4.734 %
    5.42 %
    0.532 %
    13M 780K people
    1998
    $ 4B 402M
    $ 310.10
    $ 1,267.67
    $ 17B 995M
    3.917 %
    -6.573 %
    5.67 %
    -2.996 %
    14M 195K people
    1999
    $ 4B 277M
    $ 292.56
    $ 1,306.69
    $ 19B 107M
    4.699 %
    -5.248 %
    7.04 %
    -0.587 %
    14M 622K people