Flag description: two equal horizontal bands of red (top) and green with a vertical white band of the same width on hoist side
@Madagascar:Economy
Economy - overview: Madagascar faces problems of chronic malnutrition, underfunded health and education facilities, a roughly 3% annual population growth rate, and severe loss of forest cover, accompanied by erosion. Agriculture, including fishing and forestry, is the mainstay of the economy, accounting for 34% of GDP and contributing more than 70% to export earnings. Industry features textile manufacturing and the processing of agricultural products. Growth in output in 1992-97 averaged less than the growth rate of the population. Growth has been held back by antigovernment strikes and demonstrations, a decline in world coffee demand, and the erratic commitment of the government to economic reform. Formidable obstacles stand in the way of Madagascar's realizing its considerable growth potential; the extent of government reforms, outside financial aid, and foreign investment will be key determinants. Growth should be in the 5% range in 2000-01.
GDP: purchasing power parity - $11.5 billion (1999 est.)
GDP - real growth rate: 4.5% (1999 est.)
GDP - per capita: purchasing power parity - $780 (1999 est.)
GDP - composition by sector: agriculture: 34% industry: 12% services: 54% (1997 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 2.3% highest 10%: 34.9% (1993)
Inflation rate (consumer prices): 9.5% (1999 est.)