[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · MDG · 2024
Madagascar trade profile
In 2024, Madagascar recorded $3.2B in merchandise exports and $4.5B in imports, producing a $1.2B trade deficit. Exports changed -12.5% from the previous year, while imports changed -4.8%.[1]
Exports
$3.2B
-12.5%
Imports
$4.5B
-4.8%
Trade balance
-$1.2B
deficit
Active partners
270
48 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$501.6M
HS 09 · HS chapter
39 active HS6 lines · 128 export partners
2$453.3M
HS 75 · HS chapter
13 active HS6 lines · 23 export partners
3$393.2M
HS 62 · HS chapter
112 active HS6 lines · 117 export partners
4$345.4M
HS 71 · Precious metals and stones
40 active HS6 lines · 72 export partners
5$338.6M
HS 61 · HS chapter
106 active HS6 lines · 121 export partners
6$250.1M
HS 26 · HS chapter
23 active HS6 lines · 20 export partners
7$108.9M
HS 03 · HS chapter
102 active HS6 lines · 52 export partners
8$92.4M
HS 25 · HS chapter
57 active HS6 lines · 49 export partners
Leading export markets
Destinations rank bilateral export flows from Madagascar; growth describes each corridor rather than the whole economy.
1$573.8M
United States
Annual change -0.5% · 3-year CAGR -0.9%
2$524.4M
France
Annual change -4.7% · 3-year CAGR -3.9%
3$260.1M
China
Annual change -4.7% · 3-year CAGR -9.1%
4$230.6M
United Arab Emirates
Annual change +125.0% · 3-year CAGR 14.6%
5$190.9M
India
Annual change +34.2% · 3-year CAGR 19.9%
6$186.3M
Japan
Annual change -41.3% · 3-year CAGR -3.2%
7$156.5M
South Korea
Annual change -36.7% · 3-year CAGR 121.3%
8$138.3M
South Africa
Annual change +5.8% · 3-year CAGR 6.7%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.