ÿþ<html> <head> <title> Madagascar Economy 2012, CIA World Factbook </title> <META NAME="Description" CONTENT="Madagascar Economy 2012, CIA World Factbook"> <META NAME="keywords" CONTENT="Madagascar, Economy, 2012, CIA, World, Factbook"> <script language="JavaScript"> function AddToFaves_hp(){ var is_4up = parseInt(navigator.appVersion); var is_mac = navigator.userAgent.toLowerCase().indexOf("mac")!=-1; var is_ie = navigator.userAgent.toLowerCase().indexOf("msie")!=-1; var thePage = location.href; if (thePage.lastIndexOf('#')!=-1) thePage = thePage.substring(0,thePage.lastIndexOf('#')); if (is_ie && is_4up && !is_mac) window.external.AddFavorite(thePage,document.title); else if (is_ie || document.images) booker_hp = window.open(thePage,'booker_','menubar,width=325,height=100,left=140,top=60'); //booker_hp.focus(); } //--> </script> <script type="text/javascript"> (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; 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/* WFB Leaderboard */ google_ad_slot = "7548094546"; google_ad_width = 728; google_ad_height = 90; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> <tr height="3" align="left" valign="top" bgcolor="white" nowrap units="pixels"><td colspan="2" align="left" valign="top" height="3" width="972" nowrap bgcolor="white" nowrap> <img src="http://www.theodora.com/wfb2008/images/line1.gif"></td></tr> <tr><td colspan="2" align="middle" background="http://www.theodora.com/wfb2008/images/light_blue.gif" width="972"> <font size="-2"> <br></font> <font face="arial" size="5"><b>Madagascar</b> Economy 2012</font> <br> <font size = "-2"> http://www.theodora.com/wfbcurrent/madagascar/madagascar_economy.html </font> <br> <font size="-2"><B>SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES</B></FONT></td></tr> <tr height="3" align="left" valign="top" bgcolor="white" nowrap units="pixels"> <td colspan="2" align="left" valign="top" height="3" width="972" nowrap bgcolor="white" nowrap> <img src="http://www.theodora.com/wfb2008/images/line13.gif"></td></tr></table> <table border="0" bgcolor="#FFCC99" cellspacing="0" cellpadding="0" width="972" align="left" valign="top" hspace="0" vspace="0" units="pixels"> <tr><td background="http://www.theodora.com/wfb2008/images/light_blue.gif" width="200" valign="top"> <font face="arial"> <br><br> <center> <script type="text/javascript"><!-- google_ad_client = "ca-pub-7437757543052749"; 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/* WFB Large Rectangle */ google_ad_slot = "8137512903"; google_ad_width = 336; google_ad_height = 280; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <br> Page last updated on February 23, <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#economy_overview">Economy - overview:</a></b><br> After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization that has been undermined since the start of the political crisis. 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 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) led to the termination of the country's duty-free access in January 2010 and a sharp fall in textile production. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. The current political crisis, which began in early 2009, has dealt additional blows to the economy. Tourism dropped more than 50% in 2009 compared with the previous year, and many investors are wary of entering the uncertain investment environment. GDP grew by less than 1% per year in 2010-11. <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#GDP">GDP</a> (purchasing power parity):</b><br> $20.6 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 126 <div class="category_data" style="padding-top: 3px;">$20.4 billion (2010 est.) <div class="category_data" style="padding-top: 3px;">$20.3 billion (2009 est.) <br><i> <em>note:</em></i> data are in 2011 US dollars <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_purchasing_power_parity_2012_0.html" target="_blank"><u>GDP country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_official_exchange_rate">GDP (official exchange rate):</a></b><br> $9.4 billion (2011 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_official_exchange_rate_2012_0.html" target="_blank"><u>GDP (official exchange rate) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_real_growth_rate">GDP - real growth rate:</a></b><br> 1% (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 188 <div class="category_data" style="padding-top: 3px;">0.6% (2010 est.) <div class="category_data" style="padding-top: 3px;">-3.7% (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_real_growth_rate_2012_0.html" target="_blank"><u>GDP - real growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_per_capita">GDP - per capita:</a></b><br> $900 (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 215 <div class="category_data" style="padding-top: 3px;">$1,000 (2010 est.) <div class="category_data" style="padding-top: 3px;">$1,000 (2009 est.) <br><i> <em>note:</em></i> data are in 2011 US dollars <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_per_capita_2012_0.html" target="_blank"><u>GDP - per capita country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_composition_by_sector">GDP - composition by sector:</a></b><br> <i>agriculture:</i> 28.8% <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_composition_by_sector_agriculture_2012_0.html" target="_blank"><u>GDP - composition by sector - agriculture country ranks</u></a> ] <br><i>industry:</i> 16.6% <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_composition_by_sector_industry_2012_0.html" target="_blank"><u>GDP - composition by sector - industry country ranks</u></a> ] <br><i>services:</i> 54.6% (2011 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_composition_by_sector_services_2012_0.html" target="_blank"><u>GDP - composition by sector - services country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#labor_force">Labor force:</a></b><br> 9.504 million (2007) <br><span style="padding-left:7px;">country comparison to the world: 51 <br>[see also: <a href="http://www.photius.com/rankings/economy/labor_force_2012_0.html" target="_blank"><u>Labor force country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#population_below_poverty_line">Population below poverty line:</a></b><br> 50% (2004 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/population_below_poverty_line_2012_0.html" target="_blank"><u>Population below poverty line country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#household_income_or_consumption_by_percentage_share">Household income or consumption by percentage share:</a></b><br> <i>lowest 10%:</i> 2.6% <br>[see also: <a href="http://www.photius.com/rankings/economy/household_income_or_consumption_by_percentage_share_lowest_10pct_2012_0.html" target="_blank"><u>Household income or consumption by percentage share - lowest 10% country ranks</u></a> ] <br><i>highest 10%:</i> 41.5% (2005) <br>[see also: <a href="http://www.photius.com/rankings/economy/household_income_or_consumption_by_percentage_share_highest_10pct_2012_0.html" target="_blank"><u>Household income or consumption by percentage share - highest 10% country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#distribution_of_family_income_gini_index">Distribution of family income - Gini index:</a></b><br> 47.5 (2001) <br><span style="padding-left:7px;">country comparison to the world: 29 <div class="category_data" style="padding-top: 3px;">38.1 (1999) <br>[see also: <a href="http://www.photius.com/rankings/economy/distribution_of_family_income_gini_index_2012_0.html" target="_blank"><u>Distribution of family income - Gini index country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#investment_gross_fixed">Investment (gross fixed):</a></b><br> 18.7% of GDP (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 139 <br>[see also: <a href="http://www.photius.com/rankings/economy/investment_2012_0.html" target="_blank"><u>Investment (gross fixed) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget">Budget:</a></b><br> <i>revenues:</i> $1.649 billion <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_revenues_2012_0.html" target="_blank"><u>Budget revenues country ranks</u></a> ] <br><i>expenditures:</i> $1.737 billion (2011 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_expenditures_2012_0.html" target="_blank"><u>Budget expenditures country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#taxes_and_other_revenues">Taxes and other revenues:</a></b><br> 17.5% of GDP (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 174 <br>[see also: <a href="http://www.photius.com/rankings/economy/taxes_and_other_revenues_2012_0.html" target="_blank"><u>Taxes and other revenues country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget_surplus_or_deficit">Budget surplus (+) or deficit (-):</a></b><br> -0.9% of GDP (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 55 <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_surplus_or_deficit_2012_0.html" target="_blank"><u>Budget surplus (+) or deficit (-) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#inflation_rate_consumer_prices">Inflation rate (consumer prices):</a></b><br> 10.9% (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 194 <div class="category_data" style="padding-top: 3px;">9.2% (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/inflation_rate_2012_0.html" target="_blank"><u>Inflation rate (consumer prices) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#central_bank_discount_rate">Central bank discount rate:</a></b><br> 5% (31 December 2010 est.) <div class="category_data" style="padding-top: 3px;">NA% (31 December 2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/central_bank_discount_rate_2012_0.html" target="_blank"><u>Central bank discount rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#commercial_bank_prime_lending_rate">Commercial bank prime lending rate:</a></b><br> 39% (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 2 <div class="category_data" style="padding-top: 3px;">46% (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/commercial_bank_prime_lending_rate_2012_0.html" target="_blank"><u>Commercial bank prime lending rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#stock_of_narrow_money">Stock of narrow money:</a></b><br> $1.394 billion (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 137 <div class="category_data" style="padding-top: 3px;">$1.22 billion (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/stock_of_narrow_money_2012_0.html" target="_blank"><u>Stock of narrow money country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#stock_of_broad_money">Stock of broad money:</a></b><br> $2.184 billion (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 146 <div class="category_data" style="padding-top: 3px;">$1.994 billion (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/stock_of_broad_money_2012_0.html" target="_blank"><u>Stock of broad money country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#stock_of_domestic_credit">Stock of domestic credit:</a></b><br> $944.6 million (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 160 <div class="category_data" style="padding-top: 3px;">$890.8 million (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/stock_of_domestic_credit_2012_0.html" target="_blank"><u>Stock of domestic credit country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#market_value_of_publicly">Market value of publicly traded shares:</a></b><br> $NA <br>[see also: <a href="http://www.photius.com/rankings/economy/market_value_of_publicly_traded_shares_2012_0.html" target="_blank"><u>Market value of publicly traded shares country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#agriculture_products">Agriculture - products:</a></b><br> coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava (tapioca), beans, bananas, peanuts; livestock products <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industries">Industries:</a></b><br> meat processing, seafood, soap, breweries, tanneries, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum, tourism <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industrial_production_growth_rate">Industrial production growth rate:</a></b><br> 2% (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 124 <br>[see also: <a href="http://www.photius.com/rankings/economy/industrial_production_growth_rate_2012_0.html" target="_blank"><u>Industrial production growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#electricity_production">Electricity - production:</a></b><br> 1.11 billion kWh (2008 est.) <br><span style="padding-left:7px;">country comparison to the world: 144 <br>[see also: <a href="http://www.photius.com/rankings/economy/electricity_production_2012_0.html" target="_blank"><u>Electricity - production country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#electricity_consumption">Electricity - consumption:</a></b><br> 1.032 billion kWh (2008 est.) <br><span style="padding-left:7px;">country comparison to the world: 145 <br>[see also: <a href="http://www.photius.com/rankings/economy/electricity_consumption_2012_0.html" target="_blank"><u>Electricity - consumption country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#electricity_exports">Electricity - exports:</a></b><br> 0 kWh (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/electricity_exports_2012_0.html" target="_blank"><u>Electricity - exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#electricity_imports">Electricity - imports:</a></b><br> 0 kWh (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/electricity_imports_2012_0.html" target="_blank"><u>Electricity - imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#oil_production">Oil - production:</a></b><br> 0 bbl/day (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 192 <br>[see also: <a href="http://www.photius.com/rankings/economy/oil_production_2012_0.html" target="_blank"><u>Oil - production country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#oil_consumption">Oil - consumption:</a></b><br> 22,000 bbl/day (2010 est.) <br><span style="padding-left:7px;">country comparison to the world: 126 <br>[see also: <a href="http://www.photius.com/rankings/economy/oil_consumption_2012_0.html" target="_blank"><u>Oil - consumption country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#oil_exports">Oil - exports:</a></b><br> 0 bbl/day (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 186 <br>[see also: <a href="http://www.photius.com/rankings/economy/oil_exports_2012_0.html" target="_blank"><u>Oil - exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#oil_imports">Oil - imports:</a></b><br> 16,390 bbl/day (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 122 <br>[see also: <a href="http://www.photius.com/rankings/economy/oil_imports_2012_0.html" target="_blank"><u>Oil - imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#natural_gas_production">Natural gas - production:</a></b><br> 0 cu m (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 210 <br>[see also: <a href="http://www.photius.com/rankings/economy/natural_gas_production_2012_0.html" target="_blank"><u>Natural gas - production country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#natural_gas_consumption">Natural gas - consumption:</a></b><br> 0 cu m (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 200 <br>[see also: <a href="http://www.photius.com/rankings/economy/natural_gas_consumption_2012_0.html" target="_blank"><u>Natural gas - consumption country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#natural_gas_exports">Natural gas - exports:</a></b><br> 0 cu m (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 136 <br>[see also: <a href="http://www.photius.com/rankings/economy/natural_gas_exports_2012_0.html" target="_blank"><u>Natural gas - exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#natural_gas_imports">Natural gas - imports:</a></b><br> 0 cu m (2009 est.) <br><span style="padding-left:7px;">country comparison to the world: 90 <br>[see also: <a href="http://www.photius.com/rankings/economy/natural_gas_imports_2012_0.html" target="_blank"><u>Natural gas - imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#natural_gas_proved_reserves">Natural gas - proved reserves:</a></b><br> 0 cu m (1 January 2006 est.) <br><span style="padding-left:7px;">country comparison to the world: 160 <br>[see also: <a href="http://www.photius.com/rankings/economy/natural_gas_proved_reserves_2012_0.html" target="_blank"><u>Natural gas - proved reserves country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#current_account_balance">Current account balance:</a></b><br> -$2.242 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 155 <div class="category_data" style="padding-top: 3px;">-$2.311 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/current_account_balance_2012_0.html" target="_blank"><u>Current account balance country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports">Exports:</a></b><br> $1.407 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 150 <div class="category_data" style="padding-top: 3px;">$1.173 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/exports_2012_0.html" target="_blank"><u>Exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports_commodities">Exports - commodities:</a></b><br> coffee, vanilla, shellfish, sugar, cotton cloth, chromite, petroleum products <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports_partners">Exports - partners:</a></b><br> France 26.3%, US 9.2%, China 8.5%, Netherlands 6.4%, Germany 5.6%, Canada 4.4%, Spain 4.3% (2010) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports">Imports:</a></b><br> $3.653 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 137 <div class="category_data" style="padding-top: 3px;">$3.453 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/imports_2012_0.html" target="_blank"><u>Imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports_commodities">Imports - commodities:</a></b><br> capital goods, petroleum, consumer goods, food <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports_partners">Imports - partners:</a></b><br> China 14.6%, France 11.4%, South Africa 6.4%, India 5.4%, Bahrain 4.6%, US 4.3%, Singapore 4.1% (2010) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#reserves_of_foreign_exchange_and_gold">Reserves of foreign exchange and gold:</a></b><br> $1.103 billion (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 133 <div class="category_data" style="padding-top: 3px;">$1.172 billion (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/reserves_of_foreign_exchange_and_gold_2012_0.html" target="_blank"><u>Reserves of foreign exchange and gold country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#debt_external">Debt - external:</a></b><br> $2.466 billion (31 December 2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 138 <div class="category_data" style="padding-top: 3px;">$2.265 billion (31 December 2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/debt_external_2012_0.html" target="_blank"><u>Debt - external country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#stock_direct_foreign_investment_at_home">Stock of direct foreign investment - at home:</a></b><br> $NA <br>[see also: <a href="http://www.photius.com/rankings/economy/stock_of_direct_foreign_investment_at_home_2012_0.html" target="_blank"><u>Stock of direct foreign investment - at home country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#stock_direct_foreign_investment_abroad">Stock of direct foreign investment - abroad:</a></b><br> $NA <br>[see also: <a href="http://www.photius.com/rankings/economy/stock_of_direct_foreign_investment_abroad_2012_0.html" target="_blank"><u>Stock of direct foreign investment - abroad country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exchange_rates">Exchange rates:</a></b><br> Malagasy ariary (MGA) per US dollar - <div class="category_data" style="padding-top: 3px;">1,950 (2011 est.) <div class="category_data" style="padding-top: 3px;">2,090 (2010 est.) <div class="category_data" style="padding-top: 3px;">1,956.2 (2009) <div class="category_data" style="padding-top: 3px;">1,654.78 (2008) <div class="category_data" style="padding-top: 3px;">1,880 (2007) </font> <p> <p> <BR> <P> <font size = "-2"><B> NOTE: The information regarding Madagascar on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Madagascar Economy 2012 information contained here. All suggestions for corrections of any errors about Madagascar Economy 2012 should be addressed to the CIA. </B></font> </P> <br> <hr> <a href="#" onClick="AddToFaves_hp()"><img src="http://www.theodora.com/images/bookmark_banner.gif" align="left" width="176" height="52" border="0"></a><font color=brown> - Please bookmark this page (add it to your favorites). <br> - If you wish to <b>link</b> to this page, you can do so by referring to the URL address below this line.</font> <hr> http://www.theodora.com/wfbcurrent/madagascar/madagascar_economy.html <br><br> This page was last modified 06-Mar-12 <br> Copyright &copy 1995-2012 <a href="http://www.theodora.com/ita.html">ITA</a> all rights reserved. <br> </td> <td width=200 valign="top" align="left" background="http://www.theodora.com/wfb2008/images/light_blue.gif"> <!-- SiteSearch Google --> <br> <form action="http://www.google.com/cse" id="cse-search-box"> <div> <input type="hidden" name="cx" value="partner-pub-7437757543052749:i8v5yg-obf2" /> <input type="hidden" name="ie" value="ISO-8859-1" /> <input type="text" name="q" size="26" /> <input type="submit" name="sa" value="Search" /> </div> </form> <script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script> <!-- End SiteSearch Google --> <font size="2" face="arial"> <b> <ul> <li><a href="http://www.theodora.com/wfb">|Main INDEX|</a> <li><a href="../index.html">2012 INDEX</a> <li><a href="http://www.photius.com/rankings/index.html">Country Ranks</a> <li><a href="http://www.theodora.com/wfb/wfb2000/definitions.html">DEFINITIONS</a> <br><br> <a href="index.html">Madagascar Index 2012</a> <br><br> <a href="http://www.theodora.com/wfbcurrent/madagascar/index.html">Madagascar Main Index</a> <li><a href="madagascar_introduction.html">Introduction</a> <li><a href="http://workmall.com/wfb2001/madagascar/madagascar_history_index.html">History</a> <li><a href="http://www.photius.com/countries/madagascar/geography/index.html">Geography</a> <li><a href="http://www.photius.com/countries/madagascar/climate/madagascar_climate_climate.html">Climate</a> <li>&nbsp;&nbsp;<a href="http://www.theodora.com/maps">Maps</a><br> <li><a href="http://www.photius.com/countries/madagascar/society/index.html">People</a><br> </b> &nbsp;&nbsp;<a href="http://www.photius.com/religion">Religion</a> <b><li><a href="http://www.photius.com/countries/madagascar/government/index.html">Government</a><br></B> &nbsp;&nbsp;<a href="madagascar_chiefs.html"> Gov. 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