Madagascar
- Capital
- Antananarivo
- Region
- Sub-Saharan Africa
- Income group
- Low income
- Population
- 32.7 million (2025)
At a glance
- Prices in Madagascar rose 8.1% in 2025, faster than in most countries.
- Madagascar's economy grew 3.0% in 2025, close to the middle of the range worldwide.
- Output per person in Madagascar was US$599 in 2025, lower than in most countries.
- 3.0% of Madagascar's labour force had no job in 2025, a lower share than in most countries.
- Madagascar had 32.7 million people in 2025: about 0.4% of everyone on Earth, the 49th largest population of 217 countries and territories.
- Madagascar had a current account deficit of 5.2% of GDP in 2025, lower than in most countries.
Inflation
2025Consumer prices, change over the year (yearly average)
Since 2000
Show the numbers
| Year | Madagascar | World median |
|---|---|---|
| 2025 | 8.1% | 3.0% |
| 2024 | 7.6% | 3.0% |
| 2023 | 9.9% | 5.7% |
| 2022 | 8.2% | 8.0% |
| 2021 | 5.8% | 3.5% |
| 2020 | 4.2% | 1.9% |
| 2019 | 5.6% | 2.2% |
| 2018 | 8.6% | 2.5% |
| 2017 | 8.6% | 2.3% |
| 2016 | 6.0% | 1.6% |
Economic growth
2025Real GDP, change over the year
Since 2000
Show the numbers
| Year | Madagascar | World median |
|---|---|---|
| 2025 | 3.0% | 3.4% |
| 2024 | 4.3% | 3.4% |
| 2023 | 4.2% | 3.2% |
| 2022 | 4.1% | 4.3% |
| 2021 | 4.7% | 5.1% |
| 2020 | −7.1% | −3.8% |
| 2019 | 4.4% | 2.8% |
| 2018 | 3.2% | 3.2% |
| 2017 | 3.9% | 3.3% |
| 2016 | 4.0% | 3.1% |
GDP per person
2025GDP divided by population, in US dollars at current prices
Since 2000
Show the numbers
| Year | Madagascar | World median |
|---|---|---|
| 2025 | US$599 | US$7,882 |
| 2024 | US$550 | US$7,853 |
| 2023 | US$514 | US$7,862 |
| 2022 | US$504 | US$7,656 |
| 2021 | US$483 | US$7,269 |
| 2020 | US$451 | US$6,433 |
| 2019 | US$500 | US$7,037 |
| 2018 | US$500 | US$6,978 |
| 2017 | US$492 | US$6,548 |
| 2016 | US$454 | US$5,982 |
Unemployment
2025Share of the labour force without a job (ILO modelled estimate)
Since 2000
Show the numbers
| Year | Madagascar | World median |
|---|---|---|
| 2025 | 3.0% | 5.1% |
| 2024 | 3.1% | 5.1% |
| 2023 | 3.0% | 5.2% |
| 2022 | 3.2% | 5.3% |
| 2021 | 3.5% | 6.0% |
| 2020 | 3.3% | 6.4% |
| 2019 | 2.5% | 5.4% |
| 2018 | 2.3% | 5.4% |
| 2017 | 2.1% | 5.6% |
| 2016 | 2.0% | 5.9% |
Population
2025Everyone living in the country, mid-year
Since 2000
Show the numbers
| Year | Madagascar |
|---|---|
| 2025 | 32.7 million |
| 2024 | 32.0 million |
| 2023 | 31.2 million |
| 2022 | 30.4 million |
| 2021 | 29.7 million |
| 2020 | 29.0 million |
| 2019 | 28.2 million |
| 2018 | 27.5 million |
| 2017 | 26.8 million |
| 2016 | 26.1 million |
Current account balance, % of GDP
Since 2000
Show the numbers
| Year | Madagascar | World median |
|---|---|---|
| 2025 | −5.2% | −0.8% |
| 2024 | −4.0% | −1.3% |
| 2023 | −2.6% | −1.2% |
| 2022 | −5.5% | −3.0% |
| 2021 | −5.0% | −2.4% |
| 2020 | −4.8% | −1.7% |
| 2019 | −2.1% | −2.1% |
| 2018 | 0.7% | −2.9% |
| 2017 | −0.2% | −2.1% |
| 2016 | 0.4% | −2.8% |
No recent World Bank figure for Madagascar: government debt.
About these figures
All numbers are yearly. The world median is the middle value of all countries with a figure for the same year: half of them are above it and half below. Sparklines show Madagascar since 2000 or since its first figure.
Source: World Bank, World Development Indicators (CC BY 4.0), updated 2026-10-08. Original sources: Inflation: International Monetary Fund, International Financial Statistics; Economic growth: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; GDP per person: national statistical offices and central banks, OECD national accounts, and World Bank staff estimates; Unemployment: International Labour Organization, ILO modelled estimates (ILOSTAT); Population: United Nations Population Division (World Population Prospects) and national statistical offices; Current account balance: International Monetary Fund, Balance of Payments Statistics, with World Bank and OECD data. Yearly figures; recent years are often revised. All sources and terms.