Trade Trend

In 2023, Madagascar's total export value is 3.21Billion USD, total import value is 4.77Billion USD, Deficit is -1.57Billion USD, and foreign trade dependency is 0.498. In 2023，Madagascar's top export products are Nickel; unwrought(826.92Million USD), Vanilla(276.40Million USD), Cloves (whole fruit, cloves and stems)(249.86Million USD), top export destinations are France(478.79Million USD), United States(416.82Million USD), Japan(273.68Million USD). In 2023, Madagascar's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(903.03Million USD), Rice(193.24Million USD), Fabrics; knitted or crocheted fabrics, other than those of headings 60.01 to 60.04(117.17Million USD), top import origins are China(955.82Million USD), Oman(649.37Million USD), India(447.14Million USD).

Comparing to 2022, Madagascar's total export value decreased -312.75Million USD(-8.88%) in 2023, this could result from its export decreases of products such as Vanilla(-267.24Million USD or -49.16%), Cobalt; mattes and other intermediate products of cobalt metallurgy, cobalt and articles thereof, including waste and scrap(-103.93Million USD or -47.66%), Nickel; unwrought(-40.58Million USD or -4.68%) and export decreases to countries/economics such as China(-231.12Million USD or -46.49%), United States(-167.43Million USD or -28.66%), Japan(-147.53Million USD or -35.03%). Comparing to 2022, Madagascar's total import value decreased -691.10Million USD(-12.64%) in 2023, this could result from its import decreases of products such as Rice(-131.20Million USD or -40.44%), Sulphur of all kinds; other than sublimed, precipitated and colloidal sulphur(-99.22Million USD or -64.88%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-79.83Million USD or -8.12%), and its import decreases from countries/economies such as China(-223.61Million USD or -18.96%), Saudi Arabia(-125.09Million USD or -81.62%), India(-99.66Million USD or -18.23%).

Cumulated to first 7 months of 2024, Madagascar's total export value is 1.11Billion USD, total import value is 1.40Billion USD, and tradedeficit is -288.55Million USD. Cumulated to first 7 months of 2024, Madagascar's top export products are Nickel; unwrought(173.68Million USD), Cloves (whole fruit, cloves and stems)(123.32Million USD), Vanilla(94.24Million USD), and top export destinations are United States(244.21Million USD), France(173.19Million USD), India(99.03Million USD). Cumulated to first 7 months of 2024, Madagascar's top import products are Nickel; unwrought(173.68Million USD), Cloves (whole fruit, cloves and stems)(123.32Million USD), Vanilla(94.24Million USD), and top import origins areChina(541.41Million USD), France(116.98Million USD), Oman(113.24Million USD).