External balance on goods and services in Madagascar
Madagascar: External balance on goods and services was -2.27 billion current US$ in 2025. ◆ Volatile
Latest (2025)
-2.27 billion current US$
Change on year
down 35.6%
World rank
136th
of 193 countries
All-time high
-26.97 million current US$
in 1970
All-time low
-2.27 billion current US$
in 2025
Years of data
66
1960–2025
External balance on goods and services in Madagascar, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
The most recent figure for external balance on goods and services in Madagascar is -2.27 billion current US$, measured in 2025. That is the lowest value across all 66 years on record.
The figure is down 35.6% on the previous year and down 351.8% over ten years.
Over the whole period, external balance on goods and services in Madagascar peaked at -26.97 million current US$ in 1970 and was at its lowest, -2.27 billion current US$, in 2025.
Madagascar ranks 136th of 193 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Madagascar, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | -44.39 million current US$ | — |
| 1961 | -34.25 million current US$ | -22.8% |
| 1962 | -34.22 million current US$ | -0.1% |
| 1963 | -54.26 million current US$ | +58.6% |
| 1964 | -53.16 million current US$ | -2.0% |
| 1965 | -56.58 million current US$ | +6.4% |
| 1966 | -53.15 million current US$ | -6.1% |
| 1967 | -38.16 million current US$ | -28.2% |
| 1968 | -51.99 million current US$ | +36.3% |
| 1969 | -52.84 million current US$ | +1.6% |
| 1970 | -26.97 million current US$ | -49.0% |
| 1971 | -78.94 million current US$ | +192.7% |
| 1972 | -54.47 million current US$ | -31.0% |
| 1973 | -76.55 million current US$ | +40.5% |
| 1974 | -89.76 million current US$ | +17.3% |
| 1975 | -114.85 million current US$ | +28.0% |
| 1976 | -51.51 million current US$ | -55.1% |
| 1977 | -85.02 million current US$ | +65.0% |
| 1978 | -184.38 million current US$ | +116.9% |
| 1979 | -547.65 million current US$ | +197.0% |
| 1980 | -464.82 million current US$ | -15.1% |
| 1981 | -273.84 million current US$ | -41.1% |
| 1982 | -213.07 million current US$ | -22.2% |
| 1983 | -140.19 million current US$ | -34.2% |
| 1984 | -68.94 million current US$ | -50.8% |
| 1985 | -100.76 million current US$ | +46.1% |
| 1986 | -80.54 million current US$ | -20.1% |
| 1987 | -59.43 million current US$ | -26.2% |
| 1988 | -106.14 million current US$ | +78.6% |
| 1989 | -33.37 million current US$ | -68.6% |
| 1990 | -261.06 million current US$ | +682.4% |
| 1991 | -124.07 million current US$ | -52.5% |
| 1992 | -154.74 million current US$ | +24.7% |
| 1993 | -213.18 million current US$ | +37.8% |
| 1994 | -123.96 million current US$ | -41.9% |
| 1995 | -130.52 million current US$ | +5.3% |
| 1996 | -90.39 million current US$ | -30.7% |
| 1997 | -195.58 million current US$ | +116.4% |
| 1998 | -198.42 million current US$ | +1.5% |
| 1999 | -181.00 million current US$ | -8.8% |
| 2000 | -210.06 million current US$ | +16.1% |
| 2001 | -48.65 million current US$ | -76.8% |
| 2002 | -350.57 million current US$ | +620.5% |
| 2003 | -423.28 million current US$ | +20.7% |
| 2004 | -499.42 million current US$ | +18.0% |
| 2005 | -614.71 million current US$ | +23.1% |
| 2006 | -455.95 million current US$ | -25.8% |
| 2007 | -947.11 million current US$ | +107.7% |
| 2008 | -2.03 billion current US$ | +114.5% |
| 2009 | -2.08 billion current US$ | +2.5% |
| 2010 | -1.41 billion current US$ | -32.3% |
| 2011 | -1.28 billion current US$ | -9.5% |
| 2012 | -1.05 billion current US$ | -17.5% |
| 2013 | -1.22 billion current US$ | +15.9% |
| 2014 | -676.94 million current US$ | -44.5% |
| 2015 | -502.64 million current US$ | -25.7% |
| 2016 | -313.94 million current US$ | -37.5% |
| 2017 | -466.20 million current US$ | +48.5% |
| 2018 | -656.28 million current US$ | +40.8% |
| 2019 | -811.37 million current US$ | +23.6% |
| 2020 | -1.14 billion current US$ | +40.4% |
| 2021 | -1.30 billion current US$ | +13.8% |
| 2022 | -1.45 billion current US$ | +11.8% |
| 2023 | -1.49 billion current US$ | +3.0% |
| 2024 | -1.68 billion current US$ | +12.1% |
| 2025 | -2.27 billion current US$ | +35.6% |
Madagascar compared with similar countries
- Madagascar's -2.27 billion current US$ is below the median for low income countries, which is -1.17 billion current US$, 1.9× the median. (22 countries reporting)
- Madagascar's -2.27 billion current US$ is below the median for Sub-Saharan Africa, which is -545.92 million current US$, 4.2× the median. (45 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Madagascar changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1990 | -682.4% | -33.37 million current US$ | -261.06 million current US$ |
| 2002 | -620.5% | -48.65 million current US$ | -350.57 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | -47.30 million current US$ | -56.58 million current US$ | -34.22 million current US$ | 10 |
| 1970s | -131.01 million current US$ | -547.65 million current US$ | -26.97 million current US$ | 10 |
| 1980s | -154.11 million current US$ | -464.82 million current US$ | -33.37 million current US$ | 10 |
| 1990s | -167.29 million current US$ | -261.06 million current US$ | -90.39 million current US$ | 10 |
| 2000s | -766.44 million current US$ | -2.08 billion current US$ | -48.65 million current US$ | 10 |
| 2010s | -838.63 million current US$ | -1.41 billion current US$ | -313.94 million current US$ | 10 |
| 2020s | -1.55 billion current US$ | -2.27 billion current US$ | -1.14 billion current US$ | 6 |
Countries ranked near Madagascar
More economy & growth data for Madagascar
- Foreign direct investment, net outflows (BoP, current US$), gaps 134.39 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0076 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 4.2 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 606.21 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 16.69 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0345 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 18.96 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 5.8 % change on previous year (2024)
- Total reserves (includes gold, current US$), per unit of GDP 0.1583 includes gold, current US$ per US$ of GDP (2024)
- Total reserves (includes gold, current US$), per capita 87.11 includes gold, current US$ per person (2024)
Frequently asked questions
- What is external balance on goods and services in Madagascar?
- External balance on goods and services in Madagascar was -2.27 billion current US$ in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Madagascar?
- The highest recorded value was -26.97 million current US$ in 1970.
- What is the lowest external balance on goods and services recorded in Madagascar?
- The lowest recorded value was -2.27 billion current US$ in 2025.
- How does Madagascar rank for external balance on goods and services?
- Madagascar ranks 136th out of 193 countries with data for 2025.
- Is external balance on goods and services rising or falling in Madagascar?
- Over the last ten years it is down 351.8%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 66 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.