Madagascar+Economics

Madagascar Economics Listen as you read media type="file" key="Lion King Soundtrack- This land.mp3" width="240" height="20"[|Lion King- This Land- Youtube]

The economy of Madagascar is overwhelmingly agricultural; the best farmland is in the east and northwest. The principal cash crops are coffee, vanilla, sugarcane, cloves, and cocoa. The main food crops are rice, cassava, beans, bananas, and peanuts. In addition, large numbers of poultry, cattle, goats, sheep, and hogs are raised. Fishing and forestry are also important.
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 Industries include meat, seafood, and sugar processing; brewing; tanning; automobile assembly; and the manufacture of textiles, glassware, and paper. Tourism is also important. The chief minerals extracted are chromite, graphite, coal, bauxite, salt, quartz, zircon, industrial beryl and garnets, and offshore oil. There is an extensive but degraded road system (now being repaired) and only a limited rail network. Toamasina and Mahajanga are the chief ports.

 Madagascar carries on a relatively small foreign trade, and the annual value of imports is usually higher than the value of exports. The main imports are capital and consumer goods, petroleum, and food products. The leading exports are coffee, vanilla, shellfish, sugar, textiles, chromite, and petroleum products. The principal trade partners are France, the United States, and China. Madagascar relies heavily upon assistance from members of the European Union and international agencies. [| This information is from Infoplease]

Economic Statistics

[|This information is from the World Bank]
 * GDP (current US$) (billions) || 8.6 ||
 * GDP per capita (current US$) || 438 ||
 * GDP growth (annual %) || <span style="color: #000080; font-family: Georgia,serif; font-size: 120%;">-3.7 ||



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