External balance on goods and services as a percent of GDP in Madagascar
Madagascar: External balance on goods and services as a percent of GDP was -11.6% in 2025. ◆ Volatile
Latest (2025)
-11.6%
Change on year
down 21.6%
World rank
136th
of 191 countries
All-time high
-0.9%
in 2001
All-time low
-21.7%
in 2009
Years of data
66
1960–2025
External balance on goods and services as a percent of GDP in Madagascar, 1960–2025
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Madagascar recorded -11.6% for external balance on goods and services as a percent of gdp in 2025.
That represents a change of down 21.6% on the previous year and down 160.7% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Madagascar peaked at -0.9% in 2001 and was at its lowest, -21.7%, in 2009.
Madagascar ranks 136th of 191 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Madagascar, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | -6.6% | — |
| 1961 | -4.9% | -25.7% |
| 1962 | -4.6% | -5.5% |
| 1963 | -7.1% | +54.4% |
| 1964 | -6.6% | -7.3% |
| 1965 | -6.8% | +2.5% |
| 1966 | -5.9% | -13.0% |
| 1967 | -4.0% | -32.4% |
| 1968 | -5.0% | +26.3% |
| 1969 | -5.0% | -0.7% |
| 1970 | -2.4% | -51.5% |
| 1971 | -6.6% | +171.3% |
| 1972 | -4.1% | -38.3% |
| 1973 | -4.6% | +14.1% |
| 1974 | -4.7% | +1.1% |
| 1975 | -5.0% | +7.5% |
| 1976 | -2.4% | -53.1% |
| 1977 | -3.6% | +52.6% |
| 1978 | -6.9% | +91.6% |
| 1979 | -15.8% | +128.9% |
| 1980 | -8.9% | -43.5% |
| 1981 | -5.8% | -35.6% |
| 1982 | -4.5% | -22.6% |
| 1983 | -3.0% | -32.8% |
| 1984 | -1.8% | -41.0% |
| 1985 | -2.6% | +50.1% |
| 1986 | -1.9% | -30.1% |
| 1987 | -1.8% | -0.1% |
| 1988 | -3.3% | +79.9% |
| 1989 | -1.1% | -68.4% |
| 1990 | -6.6% | +532.0% |
| 1991 | -3.8% | -42.6% |
| 1992 | -4.2% | +9.3% |
| 1993 | -5.2% | +26.0% |
| 1994 | -3.5% | -32.9% |
| 1995 | -3.4% | -3.4% |
| 1996 | -1.8% | -46.1% |
| 1997 | -4.6% | +150.3% |
| 1998 | -4.5% | -1.8% |
| 1999 | -4.2% | -6.1% |
| 2000 | -4.5% | +7.2% |
| 2001 | -0.9% | -80.3% |
| 2002 | -6.6% | +632.2% |
| 2003 | -6.6% | +1.4% |
| 2004 | -9.9% | +48.5% |
| 2005 | -10.5% | +6.4% |
| 2006 | -7.1% | -32.0% |
| 2007 | -11.1% | +55.8% |
| 2008 | -18.9% | +70.5% |
| 2009 | -21.7% | +14.3% |
| 2010 | -14.1% | -34.8% |
| 2011 | -11.0% | -21.8% |
| 2012 | -9.1% | -17.7% |
| 2013 | -9.8% | +8.1% |
| 2014 | -5.4% | -45.0% |
| 2015 | -4.4% | -17.9% |
| 2016 | -2.6% | -40.3% |
| 2017 | -3.5% | +33.5% |
| 2018 | -4.8% | +34.8% |
| 2019 | -5.8% | +20.6% |
| 2020 | -8.7% | +51.7% |
| 2021 | -9.0% | +3.5% |
| 2022 | -9.5% | +4.6% |
| 2023 | -9.3% | -1.4% |
| 2024 | -9.5% | +2.2% |
| 2025 | -11.6% | +21.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | -5.7% | -7.1% | -4.0% | 10 |
| 1970s | -5.6% | -15.8% | -2.4% | 10 |
| 1980s | -3.5% | -8.9% | -1.1% | 10 |
| 1990s | -4.2% | -6.6% | -1.8% | 10 |
| 2000s | -9.8% | -21.7% | -0.9% | 10 |
| 2010s | -7.1% | -14.1% | -2.6% | 10 |
| 2020s | -9.6% | -11.6% | -8.7% | 6 |
Countries ranked near Madagascar
- 133 United States Virgin Islands -10.9% compare
- 134 Eritrea -11.1% compare
- 135 Cape Verde -11.4% compare
- 137 Egypt -11.7% compare
- 138 Haiti -12.8% compare
- 139 Seychelles -13.0% compare
More economy & growth data for Madagascar
- Households and NPISHs Final consumption expenditure (current LCU) 14.16 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 3,298 current LCU per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 1.98 million current LCU per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.97 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.5615 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 336.51 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 13.42 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.8743 current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), per capita 523.91 current US$ per person (2025)
- Final consumption expenditure (current LCU), annual growth rate 13.53 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Madagascar?
- External balance on goods and services as a percent of gdp in Madagascar was -11.6% in 2025, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Madagascar?
- The highest recorded value was -0.9% in 2001.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Madagascar?
- The lowest recorded value was -21.7% in 2009.
- How does Madagascar rank for external balance on goods and services as a percent of gdp?
- Madagascar ranks 136th out of 191 countries with data for 2025.
- Is external balance on goods and services as a percent of gdp rising or falling in Madagascar?
- Over the last ten years it is down 160.7%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.