Madagascar: Manufacturing, value added (annual % growth)

Key figures

What the numbers say

In 2024, Madagascar's manufacturing, value added (annual % growth) rose 8 percentage points on 2023 (from 1.2% to 9.2%).

Across the 15 yearly changes before that (2009 to 2023), the average change was −0.32 percentage points and a typical year strayed about 9.73 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations above 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 25.85 percentage points in 2021 and the biggest yearly fall was 16.69 percentage points in 2020. 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 there is no clear straight-line trend: a straight line explains 2% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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

How it compares

In 2024, Madagascar had the 6th highest value of the 37 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

• Montenegro — 3rd of 37: 15.94%
• Djibouti — 4th of 37: 15.57%
• Lesotho — 5th of 37: 9.77%
• Chad — 7th of 37: 9.14%
• Trinidad and Tobago — 8th of 37: 7.63%
• Gambia, The — 9th of 37: 7.44%

What this measures

Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 17 values

Manufacturing, value added (annual % growth) in nearby economies

• Angola — 10.5% (2025)
• Benin — 8.58% (2025)
• Botswana — 1.94% (2025)
• Burkina Faso — 5.49% (2025)
• Burundi — 1.43% (2025)
• Cabo Verde — 6.21% (2025)
• Cameroon — 3.13% (2025)
• Central African Republic — -10.28% (2023)
• Chad — 9.14% (2024)
• Comoros — 4.26% (2025)

More economic policy & debt data for Madagascar

• General government final consumption expenditure (current US$) — US$2.87 billion (2025)
• General government final consumption expenditure (current LCU) — 12.99 trillion (2025)
• General government final consumption expenditure (constant 2015 US$) — US$1.53 billion (2025)
• General government final consumption expenditure (constant LCU) — 2.01 trillion (2025)
• General government final consumption expenditure (% of GDP) — 14.61% (2025)
• Households and NPISHs final consumption expenditure (current US$) — US$14.29 billion (2025)
• Households and NPISHs final consumption expenditure (current LCU) — 64.71 trillion (2025)
• Households and NPISHs final consumption expenditure (constant 2015 US$)

Reading data like this

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Questions people ask

What is Madagascar's manufacturing, value added (annual % growth)?

9.2% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 3.22 percentage points from 5.98% in 2008. The highest value was 13.76% in 2021 and the lowest -12.09% in 2020.

How does Madagascar rank?

6th highest of 37 economies with data for 2024.

Is the latest change in manufacturing, value added (annual % growth) unusual for Madagascar?

In 2024, Madagascar's manufacturing, value added (annual % growth) rose 8 percentage points on 2023 (from 1.2% to 9.2%). Across the 15 yearly changes before that (2009 to 2023), the average change was −0.32 percentage points and a typical year strayed about 9.73 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NV.IND.MANF.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) 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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