Madagascar - International trade

Trade continues to run heavily in Madagascar's disfavor, with imports exceeding exports by more than US$200 million. Although there are signs the situation may be improving, the disparity remains debilitating.

The main trading partner is Madagascar's old colonial patron, France, which in 1998 took 39.6 percent of its total exports, at a value of US$349 million. France in turn supplied 24.1 percent of its imports, mostly machinery

Trade (expressed in billions of US$): Madagascar
Exports Imports
1975 .302 .366
1980 .401 .600
1985 .274 .402
1990 .319 .571
1995 .368 .499
1998 .241 .514
SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.

Exchange rates: Madagascar
Malagasy francs (FMG) per US$1
Nov 2000 6,656.3
2000 N/A
1999 6,283.8
1998 5,441.4
1997 5,090.9
1996 4,061.3
SOURCE: CIA World Factbook 2001 [ONLINE].

(25.7 percent), textiles and clothes (16.1 percent), chemicals (13.2 percent), and transport equipment (10.6 percent). Other buyers of Malagasy goods are Mauritius (6.9 percent), the United States (5.9 percent), and Germany (4.4 percent). Germany was also the source of 7.3 percent imports, while Iranian oil accounted for a further 7.1 percent.

Under the Lomé Convention, Madagascar enjoys preferential entry to European export markets. It is also a member of the 20-nation Common Market for Eastern and Southern Africa trade group (COMESA), whose long-term plans include monetary union and a common central bank. Madagascar has also applied to join the similarly aimed Southern African Development Community (SADC).

Also read article about Madagascar from Wikipedia

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Nov 8, 2011 @ 3:15 pm
What is Madagascar's most recent trading importance?

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