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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. However, Madagascar's failure to comply with the requirements of the African Growth and Opportunity Act (AGOA) le...  More..

Economy of Madagascar
SOURCE: CIA - The World Factbook
Currency Malagasy Ariary
Fiscal Year 01 January - 31 December
GDP (PPP) $20.5 billion (2009 est.)
GDP (per capita) $1,000 (2009 est.)
Exports $1.04 billion (2009 est.)
Imports $1.836 billion (2009 est.)
Main Industries Meat Processing, Seafood, Soap, Breweries, Tanneries, Sugar, Textiles, Glassware, Cement, Automobile Assembly Plant, Paper, Petroleum, Tourism
Exports - Commodities Coffee, Vanilla, Shellfish, Sugar, Cotton Cloth, Chromite, Petroleum Products
Imports - Commodities Capital Goods, Petroleum, Consumer Goods, Food
Exports Partners France 38.9%, US 20.3%, Germany 5% (2008)
Imports Partners China 20.1%, Bahrain 8.7%, France 6.3%, South Africa 5.7%, US 4.9%, India 4.4% (2008)

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