Current account balance in Madagascar
Madagascar: Current account balance was -4.3% in 2024. ◆ Volatile
Current account balance in Madagascar, 1974–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Madagascar recorded -4.3% for current account balance in 2024.
Compared with earlier readings it is down 50.4% on the previous year and down 555.9% over ten years.
Over the whole period, current account balance in Madagascar peaked at 0.7% in 2018 and was at its lowest, -18.2%, in 2009.
That places Madagascar 138th out of 199 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Madagascar, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1974 | -2.1% | — |
| 1975 | -2.4% | +17.9% |
| 1976 | -1.3% | -47.1% |
| 1977 | -0.6% | -50.2% |
| 1978 | -3.0% | +363.1% |
| 1979 | -12.3% | +313.8% |
| 1980 | -10.7% | -13.1% |
| 1981 | -7.6% | -28.7% |
| 1982 | -6.3% | -17.9% |
| 1983 | -5.3% | -15.7% |
| 1984 | -4.9% | -6.1% |
| 1985 | -4.8% | -2.5% |
| 1986 | -3.3% | -32.0% |
| 1987 | -4.4% | +33.6% |
| 1988 | -4.7% | +7.3% |
| 1989 | -2.6% | -43.9% |
| 1990 | -6.7% | +155.3% |
| 1991 | -7.1% | +4.7% |
| 1992 | -5.3% | -24.6% |
| 1993 | -6.4% | +19.4% |
| 1994 | -7.9% | +23.8% |
| 1995 | -7.2% | -8.6% |
| 1996 | -3.1% | -57.0% |
| 1997 | -4.7% | +53.0% |
| 1998 | -6.6% | +38.8% |
| 1999 | -5.2% | -20.2% |
| 2000 | -5.6% | +7.2% |
| 2001 | -2.6% | -54.2% |
| 2002 | -8.9% | +246.1% |
| 2003 | -5.1% | -42.3% |
| 2004 | -7.9% | +53.1% |
| 2005 | -12.5% | +59.1% |
| 2006 | -9.2% | -26.9% |
| 2007 | -9.9% | +8.0% |
| 2008 | -15.6% | +58.2% |
| 2009 | -18.2% | +16.2% |
| 2010 | -8.9% | -50.8% |
| 2011 | -6.7% | -24.8% |
| 2012 | -7.5% | +10.9% |
| 2013 | -6.5% | -12.8% |
| 2014 | -0.6% | -90.0% |
| 2015 | -2.3% | +248.1% |
| 2016 | 0.4% | -116.7% |
| 2017 | -0.2% | -160.5% |
| 2018 | 0.7% | -411.7% |
| 2019 | -2.1% | -399.7% |
| 2020 | -4.8% | +123.7% |
| 2021 | -5.0% | +5.3% |
| 2022 | -5.5% | +9.2% |
| 2023 | -2.8% | -48.5% |
| 2024 | -4.3% | +50.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -3.6% | -12.3% | -0.6% | 6 |
| 1980s | -5.5% | -10.7% | -2.6% | 10 |
| 1990s | -6.0% | -7.9% | -3.1% | 10 |
| 2000s | -9.6% | -18.2% | -2.6% | 10 |
| 2010s | -3.4% | -8.9% | 0.7% | 10 |
| 2020s | -4.5% | -5.5% | -2.8% | 5 |
Countries ranked near Madagascar
- 135 Kazakhstan -4.1% compare
- 136 Gambia -4.1% compare
- 137 Solomon Islands -4.2% compare
- 139 Botswana -4.3% compare
- 140 North Macedonia -4.3% compare
- 141 Mali -4.3% compare
More economy & growth data for Madagascar
- Industry (including construction), value added (constant 2015 US$) 4.5 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.156 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 93.46 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 4.5 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 326.78 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 195,828 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 10.46 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.4883 current US$ per US$ of GDP (2025)
- Services, value added (current US$), per capita 292.6 current US$ per person (2025)
- Services, value added (current LCU), annual growth rate 10.57 % change on previous year (2025)
Frequently asked questions
- What is current account balance in Madagascar?
- Current account balance in Madagascar was -4.3% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Madagascar?
- The highest recorded value was 0.7% in 2018.
- What is the lowest current account balance recorded in Madagascar?
- The lowest recorded value was -18.2% in 2009.
- How does Madagascar rank for current account balance?
- Madagascar ranks 138th out of 199 countries with data for 2024.
- Is current account balance rising or falling in Madagascar?
- Over the last ten years it is down 555.9%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.