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    Madagascar Economy - 1991

      Overview: Madagascar is one of the poorest countries in the world. During the period 1980-85 it had a population growth of 3% a year and a - 0.4% GDP growth rate. Agriculture, including fishing and forestry, is the mainstay of the economy, accounting for over 40% of GDP, employing about 80% of the labor force, and contributing to more than 70% of total export earnings. Industry is largely confined to the processing of agricultural products and textile manufacturing; in 1990 it accounted for only 16% of GDP and employed 3% of the labor force. In 1986 the government introduced a five-year development plan that stresses self-sufficiency in food (mainly rice) by 1990, increased production for exports, and reduced energy imports.

      GDP: $2.4 billion, per capita $200; real growth rate 3.8% (1990 est.)

      Inflation rate (consumer prices): 12% (1990)

      Unemployment rate: NA%

      Budget: revenues $390 million; expenditures $525 million, including capital expenditures of $240 million (1990 est.)

      Exports: $290 million (f.o.b., 1990 est.); commodities--coffee 45%, vanilla 15%, cloves 11%, sugar, petroleum products; partners--France, Japan, Italy, FRG, US

      Imports: $436 million (f.o.b., 1990 est.); commodities--intermediate manufactures 30%, capital goods 28%, petroleum 15%, consumer goods 14%, food 13%; partners--France, FRG, UK, other EC, US

      External debt: $3.6 billion (1989)

      Industrial production: growth rate 5.2% (1990 est.); accounts for 16% of GDP

      Electricity: 119,000 kW capacity; 430 million kWh produced, 40 kWh per capita (1989)

      Industries: agricultural processing (meat canneries, soap factories, breweries, tanneries, sugar refining plants), light consumer goods industries (textiles, glassware), cement, automobile assembly plant, paper, petroleum

      Agriculture: accounts for 40% of GDP; cash crops--coffee, vanilla, sugarcane, cloves, cocoa; food crops--rice, cassava, beans, bananas, peanuts; cattle raising widespread; almost self-sufficient in rice

      Illicit drugs: illicit producer of cannabis (cultivated and wild varieties) used mostly for domestic consumption

      Economic aid: US commitments, including Ex-Im (FY70-89), $136 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $2.9 billion; Communist countries (1970-89), $491 million

      Currency: Malagasy franc (plural--francs); 1 Malagasy franc (FMG) = 100 centimes

      Exchange rates: Malagasy francs (FMG) per US$1--1,454.6 (December 1990), 1,494.1 (1990), 1,603.4 (1989), 1,407.1 (1988), 1,069.2 (1987), 676.3 (1986), 662.5 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Madagascar on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Madagascar Economy 1991 information contained here. All suggestions for corrections of any errors about Madagascar Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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