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%.
Madagascar GDP from 1980 to 2024
The total market value of goods and services produced annually in Madagascar.
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.
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)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |