Located in the Indian Ocean off the south-east coast of Africa, Madagascar is one of the largest islands in the world, covering 587 thousand sq. km. with 18.6 million inhabitants.
Since 2002, Madagascar has embarked on an ambitious transformation path that has brought improvements in social, economic and governance indicators. The economy grew at an average of 5 percent per year, and poverty declined to 69 percent from its peak of 80 percent in 2002.
Madagascar’s sources of growth come from (i) agriculture as local output is generally competitive; (ii) tourism as the country’s rich natural environment makes it an attractive destination for tourists; (iii) low-wage, low-to-moderate skill and labor-intensive goods such as handicrafts, textiles, and clothing; and (iv) mining which is currently benefiting from huge increases in foreign investment due to the commodity boom.
GDP growth was 9.8 percent in 2003 and continued to grow at an average rate of about 5 percent per year between 2004 and 2006, and rose to 6.2 percent in 2007.
Monsieur le Ministre des Affairs Etrangères
Ministère des Affaires Etrangères
Chamber of Commerce and Industry
Information Economiques Chambre de Commerce
20 Rue Paul Dussac
B.P. 166 Antananarivo
Tel: (2612) 20211
Fax: (2612) 20213
Tlx: 22587 CHACOM MG/41340B LSSZA
Export Promotion Board
Export Promotion Department
Ministry of Trade Promotion Craft