Madagascar shipped US$2 billion worth of products around the globe in 2015. That figure represents a tiny 0.01% sliver of overall global exports estimated at $16.329 trillion.
From a continental perspective, $908.8 million or 46.5% of Malagasy exports by value were delivered to European Union members while 30.6% were sold to Asian importers. Madagascar shipped another 13.7% worth of goods to North America.
At 8.2%, a smaller portion of Malagasy exports were bought by African importers.
Madagascar’s Top 15 Import Partners
Below is a list showcasing 15 of Madagascar’s top import partners, countries that imported the most Malagasy shipments by dollar value during 2015. Also shown is each import country’s percentage of total Malagasy exports.
- France: US$402.6 million (20.6% of total Malagasy exports)
- United States: $219.6 million (11.2%)
- Netherlands: $137.2 million (7%)
- China: $134.6 million (6.9%)
- Germany: $113.7 million (5.8%)
- India: $112.1 million (5.7%)
- Japan: $108.4 million (5.5%)
- South Korea: $107.8 million (5.5%)
- Belgium: $89.5 million (4.6%)
- South Africa: $81.7 million (4.2%)
- Spain: $50.5 million (2.6%)
- Canada: $47.6 million (2.4%)
- United Kingdom: $40.1 million (2.1%)
- Sweden: $37.4 million (1.9%)
- Singapore: $29.6 million (1.5%)
Almost nine-tenths (87.6%) of Malagasy exports in 2015 were delivered to the above 15 trade partners.
Twelve of the top 15 importers increased their import purchases from Madagascar from 2011 to 2015, with gains ranging from 55.6% for both Germany and the United Kingdom up to 10,968% for the leader, Sweden.
The three countries posting declines in their imports from Madagascar were: Singapore (down -67.8%), Canada (down -32.5%) and France (down -8.7%).
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
In 2015, Madagascar incurred the highest trade deficits with the following countries:
- China: -US$369.3 million (country-specific trade deficit in 2015)
- Bahrain: -$190.3 million
- United Arab Emirates: -$166.1 million
- Pakistan: -$89 million
- Mauritius: -$67 million
- Qatar: -$64.7 million
- India: -$63.2 million
- Turkey: -$50.2 million
- South Africa: -$47.7 million
- Malaysia: -$47.6 million
Among Madagascar’s import partners that cause the greatest negative trade balances, Malagasy deficits with Bahrain (up 437.8%), Qatar (up 328.6%) and China (up 60%) grew at the fastest pace from 2011 to 2015.
These cashflow deficiencies clearly indicate Madagascar’s competitive disadvantages with the above countries, but also represent key opportunities for Madagascar to develop country-specific strategies to strengthen its overall position in international trade.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2015, Madagascar incurred the highest trade surpluses with the following countries:
- France: US$230.3 million (country-specific trade surplus in 2015)
- Netherlands: $123.1 million
- United States: $95.8 million
- South Korea: $74.5 million
- Japan: $68.6 million
- Belgium: $63 million
- Germany: $39.7 million
- Canada: $32.7 million
- Sweden: $29.4 million
- Spain: $16.1 million
Among Madagascar’s import partners that cause the greatest positive trade balances, Malagasy surpluses with Spain (up 230%), France (up 135.5%) and Germany (up 18.1%) grew at the fastest pace from 2011 to 2015.
These positive cashflow streams clearly indicate Madagascar’s competitive advantages with the above countries, but also represent key opportunities for Madagascar to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Malagasy Import Partners
Not one Malagasy corporation ranks among Forbes Global 2000 for 2015.
Wikipedia lists companies based in Madagascar. Selected examples are shown below:
- Air Madagascar (international/domestic airliner)
- Karenjy (automobiles)
- Madacom (telecommunications, internet services)
- Madagascar Oil (oil, gas)
- Madarail (national railways)
See also Madagascar’s Top 10 Exports, Top African Export Countries, Top South African Import Partners and Nigeria’s Top 10 Exports
The World Factbook, Field Listing: Imports – Commodities, Central Intelligence Agency. Accessed on June 30, 2016
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on June 30, 2016
Investopedia, Net Importer Definition. Accessed on June 30, 2016
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 30, 2016
Alibaba, Sourcing Buyers. Accessed on June 30, 2016