Madagascar: Broad money (current LCU)

Key figures

What the numbers say

In 2024, Madagascar's broad money (current LCU) rose 13.9% on 2023 (from 19.06 trillion to 21.72 trillion).

Across the 30 yearly changes before that (1994 to 2023), the average change was +15.2% and a typical year strayed about 9.6% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 52.6% in 1994 and the biggest yearly fall was 9.1% in 1983. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 1.5 trillion a year. A straight line explains 99% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about 24.61 trillion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 2.49 trillion, against 3.98 trillion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2024, Madagascar had the 10th highest value of the 32 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Madagascar in the 2024 ranking

• Hungary — 6th of 32: 48.87 trillion
• Mongolia — 7th of 32: 43.28 trillion
• Thailand — 8th of 32: 26.34 trillion
• Czechia — 10th of 32: 7.01 trillion
• Malawi — 11th of 32: 5.34 trillion
• Rwanda — 12th of 32: 5.2 trillion

What this measures

Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 63 values

Broad money (current LCU) in nearby economies

• Angola — 17.82 trillion (2025)
• Benin — 4.23 trillion (2025)
• Botswana — 115.36 billion (2024)
• Burkina Faso — 6.96 trillion (2025)
• Burundi — 8.01 trillion (2025)
• Cabo Verde — 281.73 billion (2025)
• Cameroon — 4.75 trillion (2018)
• Central African Republic — 488.93 billion (2022)
• Chad — 1.5 trillion (2021)
• Comoros — 285.91 billion (2025)
• Congo, Dem. Rep. — 42.99 trillion (2025)

More financial sector data for Madagascar

• GDP deflator (base year varies by country) — 358.35 (2025)
• DEC alternative conversion factor (LCU per US$) — US$4,530 (2025)
• Official exchange rate (LCU per US$, period average) — US$4,530 (2025)
• Inflation, GDP deflator (annual % growth) — 8.38% (2025)
• Domestic credit to private sector by banks (% of GDP) — 16.28% (2024)
• Net domestic credit (current LCU) — 17.77 trillion (2024)
• Net foreign assets (current LCU) — 10.3 trillion (2024)
• Monetary sector credit to private sector (% of GDP) — 16.48% (2024)
• Broad money (% of GDP) — 27.29% (2024)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Madagascar's broad money (current LCU)?

21.72 trillion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1962?

It is up 409,159% from 5.31 billion in 1962 (14.36% a year on average, compounded). The highest value was 21.72 trillion in 2024 and the lowest 5.31 billion in 1962.

How does Madagascar rank?

Source

World Bank, World Development Indicators, indicator FM.LBL.BMNY.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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