Madagascar - Income



The US Central Intelligence Agency (CIA) reports that in 2001 Madagascar's gross domestic product (GDP) was estimated at $14 billion. The per capita GDP was estimated at $870. The annual growth rate of GDP was estimated at 5%. The average inflation rate in 2001 was 7%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 34% of GDP, industry 11%, and services 55%. Foreign aid receipts amounted to about $22 per capita and accounted for approximately 8% of the gross national income (GNI).

The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $224. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption grew at an annual rate of 1%. Approximately 61% of household consumption was spent on food, 4% on fuel, 2% on health care, and 2% on education. The richest 10% of the population accounted for approximately 28.6% of household consumption and the poorest 10% approximately 2.6%. It was estimated that in 1994 about 70% of the population had incomes below the poverty line.

Also read article about Madagascar from Wikipedia

User Contributions:

Comment about this article, ask questions, or add new information about this topic:

CAPTCHA