Madagascar: Manufacturing, value added (constant 2015 US$)

Key figures

What the numbers say

In 2024, Madagascar's manufacturing, value added (constant 2015 US$) rose 9.2% on 2023 (from US$1.27 billion to US$1.39 billion).

Across the 16 yearly changes before that (2008 to 2023), the average change was +2% and a typical year strayed about 6.1% from that (the standard deviation). This year's change was 1.2 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 13.8% in 2021 and the biggest yearly fall was 12.1% 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 the straight-line trend is upward, about US$40.04 million a year. A straight line explains 82% 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 US$1.43 billion 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 US$109.33 million, against US$142.42 million 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 13th 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

• Bolivia — 10th of 37: US$4.13 billion
• Trinidad and Tobago — 11th of 37: US$3.28 billion
• Afghanistan — 12th of 37: US$2.72 billion
• Chad — 14th of 37: US$1.32 billion
• Togo — 15th of 37: US$1.15 billion
• Niger — 16th of 37: US$1.13 billion

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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed 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 gap-filled total.

All 18 values

Manufacturing, value added (constant 2015 US$) in nearby economies

• Angola — US$7.85 billion (2025)
• Benin — US$2.04 billion (2025)
• Botswana — US$1.05 billion (2025)
• Burkina Faso — US$1.84 billion (2025)
• Burundi — US$336.49 million (2025)
• Cabo Verde — US$122.73 million (2025)
• Cameroon — US$6.37 billion (2025)
• Central African Republic — US$447.72 million (2023)
• Chad — US$1.32 billion (2024)
• Comoros

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

• 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 manufacturing, value added (constant 2015 US$)?

US$1.39 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is up 45.92% from US$951.9 million in 2007 (2.25% a year on average, compounded). The highest value was US$1.39 billion in 2024 and the lowest US$908.78 million in 2010.

Source

World Bank, World Development Indicators, indicator NV.IND.MANF.KD, 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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