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Agriculture > products
coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava, beans, bananas, peanuts; livestock products |
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Aid as % of GDP
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8.3% |
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[37th of 129]
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Debt > External
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$4,600,000,000.00 |
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[58th of 136]
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Distribution of family income > Gini index
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47.5 |
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[6th of 43]
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Economic freedom
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2.35 |
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[48th of 156]
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Economy > Overview
Having discarded past socialist economic policies, Madagascar has since the mid 1990s followed a World Bank- and IMF-led policy of privatization and liberalization. This strategy placed the country on a slow and steady growth path from an extremely low level. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel have boomed in recent years primarily due to duty-free access to the US. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. President RAVALOMANANA has worked aggressively to revive the economy following the 2002 political crisis, which triggered a 12% drop in GDP that year. Poverty reduction and combating corruption will be the centerpieces of economic policy for the next few years. |
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Exports
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$986,000,000.00 |
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[135th of 189]
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GDP
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$5,499,230,000.00 |
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[120th of 203]
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GDP > PPP
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$14,746,000,000.00 |
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[110th of 163]
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GDP > Real growth rate
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6.3% |
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[66th of 198]
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GINI index
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47.45
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[6th of 40]
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Gross National Income
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$4,193,800,000.00 |
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[107th of 172]
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Human Development Index
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0.499 |
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[147th of 178]
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Income category
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Low income |
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Income distribution > Poorest 10%
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2.6% |
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[57th of 114]
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Income distribution > Richest 10%
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28.6% |
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[66th of 114]
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Population below poverty line
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50% |
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[14th of 46]
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Population under $1 a day
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49.1 |
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[9th of 59]
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Poverty > Share of all poor people
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0.68 % of world's poor |
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[16th of 80]
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Tourist arrivals
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101,000 |
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[115th of 152]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; ; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; World Bank 2002b via backone.pdf; Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling; United Nations World Statistics Pocketbook and Statistical Yearbook
ALTERNATIVE NAMES:
Madagascar, Republic of Madagascar, Republique de Madagascar
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More facts and figures on Madagascar
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