External debt stocks in Madagascar
Madagascar: External debt stocks was 39.2% in 2024. ◆ Volatile
External debt stocks in Madagascar, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
Madagascar recorded 39.2% for external debt stocks in 2024.
The figure is down 5.3% on the previous year and up 61.7% over ten years.
Over the whole period, external debt stocks in Madagascar peaked at 126.3% in 1991 and was at its lowest, 8.8%, in 1976.
Madagascar ranks 70th of 121 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 debt stocks in Madagascar, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 43.8% | — |
| 1971 | 40.9% | -6.4% |
| 1972 | 38.1% | -7.0% |
| 1973 | 30.6% | -19.5% |
| 1974 | 39.5% | +28.8% |
| 1975 | 34.8% | -11.7% |
| 1976 | 8.8% | -74.9% |
| 1977 | 33.2% | +278.7% |
| 1978 | 13.3% | -59.8% |
| 1979 | 22.4% | +68.0% |
| 1980 | 24.2% | +8.0% |
| 1981 | 34.5% | +42.7% |
| 1982 | 41.2% | +19.3% |
| 1983 | 44.7% | +8.4% |
| 1984 | 57.1% | +27.8% |
| 1985 | 68.8% | +20.6% |
| 1986 | 71.7% | +4.2% |
| 1987 | 121.2% | +69.0% |
| 1988 | 122.4% | +0.9% |
| 1989 | 114.9% | -6.1% |
| 1990 | 98.2% | -14.6% |
| 1991 | 126.3% | +28.7% |
| 1992 | 109.6% | -13.2% |
| 1993 | 97.2% | -11.3% |
| 1994 | 121.7% | +25.1% |
| 1995 | 117.7% | -3.2% |
| 1996 | 86.9% | -26.2% |
| 1997 | 98.6% | +13.4% |
| 1998 | 101.6% | +3.1% |
| 1999 | 112.9% | +11.1% |
| 2000 | 103.0% | -8.8% |
| 2001 | 78.1% | -24.2% |
| 2002 | 87.1% | +11.4% |
| 2003 | 79.1% | -9.1% |
| 2004 | 76.6% | -3.1% |
| 2005 | 61.5% | -19.8% |
| 2006 | 24.4% | -60.2% |
| 2007 | 27.6% | +13.1% |
| 2008 | 23.8% | -13.7% |
| 2009 | 30.1% | +26.1% |
| 2010 | 28.1% | -6.5% |
| 2011 | 25.3% | -10.1% |
| 2012 | 26.7% | +5.6% |
| 2013 | 24.5% | -8.3% |
| 2014 | 24.2% | -1.1% |
| 2015 | 27.5% | +13.3% |
| 2016 | 26.0% | -5.3% |
| 2017 | 26.4% | +1.4% |
| 2018 | 27.8% | +5.5% |
| 2019 | 29.6% | +6.4% |
| 2020 | 38.2% | +29.0% |
| 2021 | 37.9% | -0.8% |
| 2022 | 39.7% | +4.7% |
| 2023 | 41.4% | +4.4% |
| 2024 | 39.2% | -5.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 30.5% | 8.8% | 43.8% | 10 |
| 1980s | 70.1% | 24.2% | 122.4% | 10 |
| 1990s | 107.1% | 86.9% | 126.3% | 10 |
| 2000s | 59.1% | 23.8% | 103.0% | 10 |
| 2010s | 26.6% | 24.2% | 29.6% | 10 |
| 2020s | 39.3% | 37.9% | 41.4% | 5 |
Countries ranked near Madagascar
More economy & growth data for Madagascar
- 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)
- Services, value added (current LCU), per unit of GDP 2,212 current LCU per US$ of GDP (2025)
- Services, value added (current LCU), per capita 1.33 million current LCU per person (2025)
- Services, value added (constant 2015 US$), annual growth rate 3.21 % change on previous year (2025)
- Services, value added (constant 2015 US$), per unit of GDP 0.3777 constant 2015 US$ per US$ of GDP (2025)
- Services, value added (constant 2015 US$), per capita 226.35 constant 2015 US$ per person (2025)
- Services, value added (constant LCU), per capita 331,202 constant LCU per person (2025)
Frequently asked questions
- What is external debt stocks in Madagascar?
- External debt stocks in Madagascar was 39.2% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest external debt stocks recorded in Madagascar?
- The highest recorded value was 126.3% in 1991.
- What is the lowest external debt stocks recorded in Madagascar?
- The lowest recorded value was 8.8% in 1976.
- How does Madagascar rank for external debt stocks?
- Madagascar ranks 70th out of 121 countries with data for 2024.
- Is external debt stocks rising or falling in Madagascar?
- Over the last ten years it is up 61.7%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of External debt stocks (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.