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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
