e Rainitovo,
Antsahavola, Antananarivo (mailing address is B. P. 620, Antananarivo);
telephone [261] (2) 212-57, 209-56, 200-89, 207-18
Flag:
two equal horizontal bands of red (top) and green with a vertical white band
of the same width on hoist side

:Madagascar Economy

Overview:
Madagascar is one of the poorest countries in the world. 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 almost
5% of the labor force. In 1986 the government introduced a five-year
development plan that stressed self-sufficiency in food (mainly rice) by
1990, increased production for exports, and reduced energy imports. After
mid-1991, however, output dropped sharply because of protracted
antigovernment strikes and demonstrations for political reform.
GDP:
exchange rate conversion - $2.4 billion, per capita $200; real growth rate
-3.8% (1991 est.)
Inflation rate (consumer prices):
10% (1991)
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, Germany, 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, Germany, UK, other EC, US
External debt:
$4.4 billion (1991)
Industrial production:
growth rate 5.2% (1990 est.); accounts for 16% of GDP
Electricity:
125,000 kW capacity; 450 million kWh produced, 35 kWh per capita (1991)
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; alm