Market Research In Madagascar

Madagascar Profile:

Madagascar, officially the Republic of Madagascar, and previously known as the Malagasy Republic, is an island country in the Indian Ocean, off the coast of East Africa.
Madagascar is a member of the United Nations, the African Union (AU), the Southern African Development Community (SADC), and the Organisation Internationale de la Francophonie.
Agriculture and manufacturing are the main sources of economic growth in Madagascar, other sources of growth are tourism, agriculture and the extractive industries.
November 2015, the IMF approved a Rapid Credit Facility to Madagascar worth about $42.1 million to help the government meet its balance of payments needs.
The IMF judged that Madagascar had demonstrated satisfactory performance on macroeconomic performance and structural reforms, and in mid-2016 approved another $304 million extended credit facility for the country.

Madagascar Economy:

Madagascar is a free market economy with many untapped natural resources, but no capital markets, a weak judicial system, poorly enforced contracts, and rampant government corruption.
As of 2017, the economy has been weakened by the 2009–2013 political crisis, and quality of life remains low for the majority of the Malagasy population.
Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing roughly 80% of the population.
The free market strategy had placed the country on a slow and steady growth path from an extremely low starting point.
The economy faces long-term challenges to improve education, healthcare, and the environment. Deforestation and erosion, aggravated by bushfire and the use of firewood as the primary source of fuel, are serious concerns.

Madagascar Facts:

Population: 25.1 million
Capital: Antananarivo
Largest city: Antananarivo
Area: 587,041 sq km
Major language: French (official), Malagasy (official), English
Major religion: Christian, indigenous religionist, Muslim
Life expectancy: 64.7 years (Male), 67.8 years (Female)
Monetary unit: 1 Ariary(MGA) = 5 Iraimbilanja
Main exports: Coffee, vanilla, shellfish, sugar, cotton cloth, clothing, chromite, petroleum products
GNI per Capita: $1,450

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