Madagascar's terms of trade adjustment (constant LCU) was -328.58 billion in 2025, the latest year in the World Bank's World Development Indicators. That is down 134.35% from 956.47 billion in 2015.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -328.58 billion | 2025 |
| Five years earlier | 829.97 billion | 2020 |
| Ten years earlier | 956.47 billion | 2015 |
| Highest | 1.81 trillion | 2016 |
| Lowest | -598.92 billion | 1989 |
| Average since 2016 | 471.29 billion | 2016–2025 |
| First recorded | 419.3 billion |
What the numbers say
In 2025, Madagascar's terms of trade adjustment (constant LCU) fell 666.69 billion on 2024 (from 338.11 billion to -328.58 billion).
Across the 30 yearly changes before that (1995 to 2024), the average change was +26.34 billion and a typical year strayed about 506.73 billion from that (the standard deviation). This year's change was 1.4 standard deviations below 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 922.71 billion in 2024 and the biggest yearly fall was 1.11 trillion in 2017. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2016 to 2025 the straight-line trend is downward, about 188.71 billion a year. A straight line explains 66% 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.
How it compares
In 2025, Madagascar had the 116th highest value of the 128 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 2025 ranking
- Saudi Arabia — 113th of 128: -210.18 billion
- Egypt, Arab Rep. — 114th of 128: -242.03 billion
- Sri Lanka — 115th of 128: -265.67 billion
- Thailand — 117th of 128: -333.72 billion
- Armenia — 118th of 128: -348.18 billion
- Philippines — 119th of 128: -666.64 billion
What this measures
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. 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 varies by country. This series is expressed in local currency units.
All 66 values
| Year | Terms of trade adjustment (constant LCU) |
|---|---|
| 2025 | -328,577,847,638 |
| 2024 | 338,110,907,798 |
| 2023 | -584,594,653,447 |
| 2022 | 344,615,022,462 |
| 2021 | 153,593,868,091 |
| 2020 | 829,967,453,999 |
| 2019 | 231,811,800,832 |
| 2018 | 1,214,494,198,391 |
| 2017 | 704,144,859,548 |
| 2016 | 1,809,285,161,414 |
Terms of trade adjustment (constant LCU) in nearby economies
- Angola — 2.49 trillion (2024)
- Benin — -92.22 billion (2025)
- Botswana — -27.67 billion (2025)
- Burkina Faso — 2.23 trillion (2025)
- Cabo Verde — 11.67 billion (2025)
- Cameroon — 166.52 billion (2025)
- Central African Republic — -872.72 million (2025)
- Chad — 748.12 billion (2025)
- Comoros — -1.26 billion (2025)
- Congo, Dem. Rep. — -5.34 trillion (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
Questions people ask
- What is Madagascar's terms of trade adjustment (constant LCU)?
- -328.58 billion in 2025, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
- It is down 178.36% from 419.3 billion in 1960. The highest value was 1.81 trillion in 2016 and the lowest -598.92 billion in 1989.
- How does Madagascar rank?
- 116th highest of 128 economies with data for 2025.
- Is the latest change in terms of trade adjustment (constant LCU) unusual for Madagascar?
- In 2025, Madagascar's terms of trade adjustment (constant LCU) fell 666.69 billion on 2024 (from 338.11 billion to -328.58 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +26.34 billion and a typical year strayed about 506.73 billion from that (the standard deviation). This year's change was 1.4 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NY.TTF.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); 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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