Madagascar statistics — population, economy, trade and telecom
As Africa’s fourth-largest island and one of the continent’s most ecologically distinct nations, Madagascar occupies a unique position in regional development conversations. In 2026, the country remains a focal point for researchers tracking fragile-state transitions, biodiversity-linked economies, and the slow but measurable progress of Indian Ocean trade corridors. Understanding Madagascar’s data profile is essential for investors, policymakers, and development partners operating across eastern and southern Africa.
Population and Demographics
Madagascar’s population is estimated at approximately 30 to 31 million people as of 2025, making it one of the more populous island nations on the continent. The United Nations projects a population growth rate of roughly 2.6 to 2.8 percent per year, placing Madagascar among the faster-growing countries in sub-Saharan Africa. This sustained growth rate reflects persistently high fertility levels, with the total fertility rate estimated at around 4.0 to 4.5 births per woman. The median age is approximately 19 to 20 years, underlining an overwhelmingly young demographic structure that presents both a long-term labour dividend and an immediate pressure on education, healthcare, and employment systems. Urbanisation remains relatively low by regional standards — World Bank estimates put the urban population share at roughly 40 percent, with Antananarivo, the capital, accounting for a disproportionate share of urban economic activity. Secondary cities such as Toamasina, Mahajanga, and Fianarantsoa are growing but remain underdeveloped in terms of infrastructure and formal services.
Economic Indicators
Madagascar’s GDP is estimated at approximately 14 to 15 billion US dollars in current prices for 2024, according to World Bank and IMF reference data. GDP per capita remains very low — roughly 480 to 520 US dollars at current exchange rates — placing Madagascar consistently among the lowest-income economies globally. Real GDP growth has been positive but modest, with IMF projections for 2024 and 2025 suggesting annual growth in the range of 4 to 5 percent, supported by mining activity, agricultural exports, and a partial recovery in tourism. Inflation has been a persistent concern; consumer price inflation was running at approximately 6 to 9 percent in recent years, driven by food prices, fuel import costs, and currency depreciation. The Malagasy ariary (MGA) has faced sustained depreciation pressure against the US dollar and euro. Unemployment figures are difficult to assess accurately given the dominance of informal and subsistence employment, but underemployment is widely regarded as the more structurally significant challenge. Public debt as a share of GDP is estimated at roughly 55 to 65 percent, a level that international financial institutions consider manageable but worth monitoring given the country’s limited domestic revenue base and reliance on concessional external financing.
Trade and External Accounts
Madagascar’s export profile is concentrated in a relatively narrow range of commodities and light manufactures. Vanilla is among the most globally significant exports — Madagascar supplies an estimated 70 to 80 percent of the world’s natural vanilla, making it highly exposed to commodity price volatility. Other key exports include cloves, ilmenite and other mineral sands, nickel, cobalt, seafood, and textile and apparel products produced in export processing zones. On the import side, the country is heavily dependent on petroleum products, capital goods, vehicles, and food commodities including rice. France, China, the United States, and the United Arab Emirates are consistently among Madagascar’s most important trading partners, both for exports and imports. The current account deficit has historically been significant, reflecting the structural gap between import needs and export revenues, and is typically financed through foreign direct investment inflows, development aid, and concessional loans. Industry reports suggest that the current account deficit has ranged between 3 and 6 percent of GDP in recent years, depending on commodity price cycles and capital expenditure in the extractive sector.
Key Sectors
Agriculture remains the backbone of the Malagasy economy, employing an estimated 70 to 75 percent of the workforce and contributing roughly 25 to 30 percent of GDP. Rice is the dominant staple crop, while cash crops such as vanilla, cloves, and lychees drive export earnings. The sector is constrained by limited mechanisation, vulnerability to cyclones and drought, and fragmented land tenure systems. Mining has emerged as a significant growth driver, with large-scale operations at the QMM ilmenite mine in the south and the Ambatovy nickel-cobalt complex near Toamasina contributing meaningfully to export revenues and government receipts, though both projects have faced operational and environmental scrutiny. The services sector, which accounts for approximately 50 to 55 percent of GDP, is dominated by trade, transport, and public administration. Tourism, while structurally important given Madagascar’s extraordinary biodiversity and ecotourism potential, remains underdeveloped relative to comparable destinations; visitor arrivals were recovering toward pre-pandemic levels through 2024 but are still constrained by limited air connectivity and infrastructure gaps. Light manufacturing, particularly garment and textile production under the African Growth and Opportunity Act (AGOA) framework, represents a meaningful source of formal employment and export diversification.
Telecommunications and Digital
Madagascar’s telecommunications sector has expanded considerably over the past decade, though significant gaps remain. Mobile penetration is estimated at roughly 50 to 60 percent of the population, with the subscriber base driven primarily by prepaid voice and data services. Internet penetration is considerably lower — ITU and industry estimates suggest that active internet users represent approximately 20 to 30 percent of the population, with mobile internet accounting for the overwhelming majority of connections. Fixed broadband infrastructure is minimal outside Antananarivo. The dominant mobile operators include Telma, Airtel Madagascar, and Orange Madagascar, which together account for the vast majority of the market. Mobile money services have grown substantially, with platforms such as MVola (Telma), Airtel Money, and Orange Money providing financial access to populations that remain largely unbanked. World Bank estimates suggest that formal financial inclusion rates are below 20 percent, making mobile money a critical bridge for household payments, remittances, and small business transactions. Submarine cable connectivity has improved with Madagascar’s connection to regional cable systems, but last-mile infrastructure and electricity access constraints continue to limit the pace of digital adoption in rural areas.
Sources and Methodology
The data and estimates presented in this dashboard draw on publicly available reference material from the World Bank’s World Development Indicators and Madagascar country pages, the International Monetary Fund’s Article IV consultation reports and World Economic Outlook database, the United Nations Population Division, the International Telecommunication Union (ITU), the African Union Commission, and Madagascar’s Institut National de la Statistique (INSTAT). Where precise figures could not be confirmed with certainty, ranges and qualifying language (“approximately”, “roughly”, “estimates suggest”) have been used deliberately to reflect data uncertainty. Madagascar’s national statistics capacity has improved in recent years but remains constrained, and users are encouraged to cross-reference figures against the primary sources cited above. All economic figures are expressed in current US dollars unless otherwise stated, and growth rates refer to real terms. This dashboard will be updated as new reference data becomes available through 2026.
For deeper qualitative and geopolitical context, visit the Madagascar expert briefing. To compare Madagascar’s indicators with those of other African nations, explore all African country statistics. For broader analysis of growth trends, investment climates, and structural transformation across the continent, see the African economy pillar.
