External balance on goods and services in Madagascar
Madagascar: External balance on goods and services was -11.6% in 2025. ◆ Volatile
External balance on goods and services in Madagascar, 1960–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
The most recent figure for external balance on goods and services in Madagascar is -11.6%, measured in 2025.
The figure is down 21.6% on the previous year and down 160.7% over ten years.
Over the whole period, external balance on goods and services in Madagascar peaked at -0.9% in 2001 and was at its lowest, -21.7%, in 2009.
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 | % 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
- Final consumption expenditure (constant 2015 US$), per capita 386.85 constant 2015 US$ per person (2025)
- Gross national expenditure (current US$), annual growth rate 13.62 % change on previous year (2025)
- Gross national expenditure (current US$), per unit of GDP 1.12 current US$ per US$ of GDP (2025)
- Gross national expenditure (current US$), per capita 668.63 current US$ per person (2025)
- Gross national expenditure (current LCU), annual growth rate 13.72 % change on previous year (2025)
- Gross national expenditure (current LCU), per unit of GDP 5,054 current LCU per US$ of GDP (2025)
- Gross national expenditure (current LCU), per capita 3.03 million current LCU per person (2025)
- Gross national expenditure (constant 2015 US$), annual growth rate 3.63 % change on previous year (2025)
- Gross national expenditure (constant 2015 US$), per unit of GDP 0.8255 constant 2015 US$ per US$ of GDP (2025)
- Gross national expenditure (constant 2015 US$), per capita 494.7 constant 2015 US$ per person (2025)
Frequently asked questions
- What is external balance on goods and services in Madagascar?
- External balance on goods and services in Madagascar was -11.6% 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 -0.9% in 2001.
- What is the lowest external balance on goods and services recorded in Madagascar?
- The lowest recorded value was -21.7% in 2009.
- 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 160.7%. 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 (% of GDP). Statizoid updates them automatically from the source API.
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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 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.