Personal remittances, received in Madagascar
Madagascar: Personal remittances, received was 2.3% in 2024. ◆ Volatile
Personal remittances, received in Madagascar, 1974–2024
Source: Staff estimates, World Bank (WB). Measured in % of GDP.
Analysis
In 2024, personal remittances, received in Madagascar stood at 2.3%.
The figure is up 18.9% on the previous year and down 16.0% over ten years.
Over the whole period, personal remittances, received in Madagascar peaked at 4.6% in 2010 and was at its lowest, 0.0%, in 1979.
That places Madagascar 98th out of 195 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.
Personal remittances, received in Madagascar, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1974 | 0.0% | — |
| 1975 | 0.0% | -5.7% |
| 1976 | 0.0% | +59.5% |
| 1977 | 0.0% | -57.7% |
| 1978 | 0.0% | +8.2% |
| 1979 | 0.0% | -90.9% |
| 1980 | 0.0% | +436.3% |
| 1981 | 0.0% | -36.3% |
| 1982 | 0.0% | -48.5% |
| 1983 | 0.0% | +3.7% |
| 1984 | 0.1% | +5721.7% |
| 1985 | 0.1% | -16.6% |
| 1986 | 0.1% | +12.2% |
| 1987 | 0.1% | +7.2% |
| 1988 | 0.1% | -12.7% |
| 1989 | 0.3% | +142.8% |
| 1990 | 0.2% | -34.7% |
| 1991 | 0.4% | +101.5% |
| 1992 | 0.4% | +1.5% |
| 1993 | 0.3% | -18.6% |
| 1994 | 0.4% | +8.5% |
| 1995 | 0.2% | -34.4% |
| 1996 | 0.1% | -46.6% |
| 1997 | 0.3% | +125.8% |
| 1998 | 0.3% | -8.9% |
| 1999 | 0.3% | +4.3% |
| 2000 | 0.2% | -10.4% |
| 2001 | 0.2% | -17.9% |
| 2002 | 0.5% | +174.1% |
| 2003 | 0.3% | -53.5% |
| 2004 | 0.2% | -10.8% |
| 2005 | 1.7% | +663.8% |
| 2006 | 2.3% | +35.4% |
| 2007 | 3.0% | +27.1% |
| 2008 | 2.9% | -1.9% |
| 2009 | 3.0% | +0.8% |
| 2010 | 4.6% | +54.8% |
| 2011 | 2.9% | -36.5% |
| 2012 | 2.9% | -1.6% |
| 2013 | 2.9% | +0.9% |
| 2014 | 2.8% | -4.5% |
| 2015 | 2.9% | +4.9% |
| 2016 | 2.5% | -12.5% |
| 2017 | 2.6% | +3.0% |
| 2018 | 3.1% | +18.9% |
| 2019 | 2.9% | -6.5% |
| 2020 | 3.8% | +31.3% |
| 2021 | 3.1% | -19.3% |
| 2022 | 2.5% | -18.0% |
| 2023 | 1.9% | -22.7% |
| 2024 | 2.3% | +18.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.0% | 0.0% | 0.0% | 6 |
| 1980s | 0.1% | 0.0% | 0.3% | 10 |
| 1990s | 0.3% | 0.1% | 0.4% | 10 |
| 2000s | 1.4% | 0.2% | 3.0% | 10 |
| 2010s | 3.0% | 2.5% | 4.6% | 10 |
| 2020s | 2.7% | 1.9% | 3.8% | 5 |
Countries ranked near Madagascar
More economy & growth data for Madagascar
- Manufacturing, value added (constant LCU), per capita 66,816 constant LCU per person (2024)
- Industry (including construction), value added (current US$), annual 16.31 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.239 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 143.24 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 16.42 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 1,083 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 648,847 current LCU per person (2025)
- 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)
Frequently asked questions
- What is personal remittances, received in Madagascar?
- Personal remittances, received in Madagascar was 2.3% in 2024, according to Staff estimates, World Bank (WB).
- What is the highest personal remittances, received recorded in Madagascar?
- The highest recorded value was 4.6% in 2010.
- What is the lowest personal remittances, received recorded in Madagascar?
- The lowest recorded value was 0.0% in 1979.
- How does Madagascar rank for personal remittances, received?
- Madagascar ranks 98th out of 195 countries with data for 2024.
- Is personal remittances, received rising or falling in Madagascar?
- Over the last ten years it is down 16.0%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Personal remittances, received (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.