Skip to content

Economy of Chad vs Madagascar compared: GDP & Debt

Updated on by Georank team

Chad has a GDP of $19.5B compared to $17.4B for Madagascar, ranking 132/197 and 136/197 by economy size, respectively.

Chad has $6.37B in government debt (32.7% of GDP), compared to $8.77B (50.3% of GDP) in Madagascar.

Chad vs Madagascar GDP by year

Chad
Madagascar
1x
Year GDP, current $
Chad Madagascar
2024 $19,518,819,751 $17,420,501,490
2023 $18,340,233,749 $15,869,945,478
2022 $17,828,508,290 $15,325,603,273
2021 $16,871,937,698 $14,354,731,964
2020 $14,932,897,821 $13,051,441,204
2019 $14,905,517,743 $14,104,664,679
2018 $15,327,000,249 $13,760,033,282
2017 $13,349,041,409 $13,176,313,594
2016 $13,026,289,836 $11,848,613,858
2015 $14,559,599,500 $11,323,020,701
2014 $18,144,336,904 $12,522,957,399
2013 $17,865,316,886 $12,423,555,455
2012 $17,892,228,570 $11,578,975,062
2011 $16,685,349,674 $11,551,819,618
2010 $14,058,506,664 $9,982,711,338
2009 $12,317,614,054 $9,616,879,409
2008 $13,385,593,990 $10,725,137,724
2007 $10,865,385,132 $8,524,620,890
2006 $9,709,626,596 $6,395,712,491
2005 $8,655,892,393 $5,859,269,753
2004 $4,422,855,661 $5,064,732,626
2003 $2,742,815,072 $6,372,498,890
2002 $1,997,005,709 $5,351,701,663
2001 $1,710,843,377 $5,438,332,602
2000 $1,388,506,772 $4,629,247,204
1999 $1,534,673,583 $4,277,903,780
1998 $1,744,794,531 $4,401,967,633
1997 $1,544,689,577 $4,262,965,420
1996 $1,607,345,356 $4,931,861,039
1995 $1,445,919,895 $3,838,100,904
1994 $1,179,837,963 $3,522,227,092
1993 $1,463,251,164 $4,063,298,919
1992 $1,881,847,670 $3,714,966,678
1991 $1,877,137,982 $3,254,713,056
1990 $1,738,605,558 $3,931,334,875
1989 $1,433,686,312 $3,175,638,333
1988 $1,482,597,298 $3,189,456,965
1987 $1,163,426,852 $3,212,900,556
1986 $1,067,828,246 $4,347,989,788
1985 $1,033,069,709 $3,802,557,895
1984 $919,103,735 $3,905,938,481
1983 $832,415,806 $4,686,457,031
1982 $834,369,860 $4,784,977,326
1981 $876,937,558 $4,759,333,998
1980 $1,033,002,404 $5,201,818,348
1979 $1,004,316,496 $3,463,565,854
1978 $1,113,920,124 $2,669,755,115
1977 $935,360,465 $2,358,930,406
1976 $866,044,962 $2,181,844,179
1975 $864,602,105 $2,283,049,215
1974 $652,532,795 $1,917,508,190
1973 $647,199,483 $1,653,062,335
1972 $585,427,547 $1,341,590,690
1971 $501,866,730 $1,199,507,631
1970 $469,266,737 $1,111,859,571
1969 $471,635,622 $1,056,391,056
1968 $453,980,096 $1,031,669,637
1967 $449,826,323 $956,436,932
1966 $432,794,922 $900,264,585
1965 $416,926,303 $833,563,473
1964 $392,247,518 $802,482,184
1963 $371,767,002 $759,345,864
1962 $357,635,713 $739,286,908
1961 $333,975,336 $699,161,945
1960 $313,582,728 $673,081,725

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/chad/madagascar | CC BY

GDP per capita in Chad vs Madagascar by year

Chad
GDP per capita

GDP per capita, PPP
Madagascar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Chad Madagascar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $962 $2,743 $545 $1,884
2023 $949 $2,700 $509 $1,808
2022 $966 $2,624 $504 $1,717
2021 $946 $2,435 $483 $1,577
2020 $867 $2,186 $451 $1,490
2019 $893 $2,352 $500 $1,612
2018 $949 $2,228 $500 $1,547
2017 $854 $2,097 $492 $1,547
2016 $862 $2,120 $454 $1,562
2015 $994 $2,378 $445 $1,497
2014 $1,279 $2,133 $506 $1,499
2013 $1,305 $2,110 $515 $1,473
2012 $1,354 $2,435 $494 $1,464
2011 $1,308 $2,388 $506 $1,475
2010 $1,142 $2,320 $450 $1,464
2009 $1,036 $2,087 $446 $1,480
2008 $1,166 $2,181 $513 $1,577
2007 $980 $2,149 $420 $1,493
2006 $907 $2,079 $324 $1,416
2005 $838 $2,102 $306 $1,343
2004 $446 $1,808 $272.2 $1,280
2003 $289.1 $1,378 $353 $1,219
2002 $219.1 $1,226 $305 $1,121
2001 $194.3 $1,152 $319 $1,299
2000 $163.1 $1,044 $280.3 $1,236
1999 $186.6 $1,066 $267.4 $1,194
1998 $219.8 $1,096 $284.2 $1,162
1997 $201.4 $1,049 $284.4 $1,142
1996 $216.9 $1,010 $340 $1,119
1995 $204 $1,014 $273.1 $1,111
1994 $173.9 $1,026 $258.7 $1,104
1993 $220.7 $933 $308 $1,116
1992 $290.6 $1,107 $290.2 $1,101
1991 $302 $1,046 $262 $1,096
1990 $290.6 $967 $326 $1,166
1989 $246.4 - $271.3 -
1988 $263.5 - $280.5 -
1987 $213.9 - $290.8 -
1986 $203.4 - $405 -
1985 $202.7 - $364 -
1984 $182.2 - $385 -
1983 $167.2 - $476 -
1982 $176.1 - $501 -
1981 $194 - $513 -
1980 $228.8 - $578 -
1979 $222.9 - $396 -
1978 $252.5 - $315 -
1977 $215.9 - $286.9 -
1976 $203.7 - $273.5 -
1975 $207.5 - $295 -
1974 $160 - $255.3 -
1973 $162.4 - $226.8 -
1972 $150.4 - $189.6 -
1971 $131.8 - $174.6 -
1970 $125.9 - $166.6 -
1969 $129.2 - $162.9 -
1968 $126.9 - $163.6 -
1967 $128.2 - $155.9 -
1966 $125.8 - $150.7 -
1965 $123.6 - $143.2 -
1964 $118.6 - $141.5 -
1963 $114.7 - $137.4 -
1962 $112.6 - $137.3 -
1961 $107.3 - $133.3 -
1960 $102.8 - $131.7 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/chad/madagascar | CC BY

Chad's GDP per capita is $962, ranking 182/197, compared to $545 in Madagascar, ranking 193/197. Adjusted for purchasing power (GDP per capita PPP), Chad ranks 182nd at $2,743, while Madagascar ranks 187th at $1,884.

Economic indicators

Chad Madagascar
Gross domestic product
$19.5B
2024
$17.4B
2024
GDP rank
132/197
2024
136/197
2024
GDP growth
4.2%
2023-2024
4.2%
2023-2024
GDP per capita
$962
2024
$545
2024
GDP per capita rank
182/197
2024
193/197
2024
GDP per capita, PPP
$2,743
2024
$1,884
2024
GDP per capita PPP rank
182/197
2024
187/197
2024
Government debt
$6.37B
2024
$8.77B
2024
Debt-to-GDP ratio
32.7%
2024
50.3%
2024
Government debt per person
$314
2024
$274.3
2024
Government debt per person rank
177/185
2024
180/185
2024
Average annual personal income after taxes
$1,276
2026
$1,268
2026
Income share by richest 10%
29.5%
2022
29.6%
2021
Income share by poorest 10%
2.8%
2022
2.9%
2021
Government expenditure, % of GDP
18.8%
2024
16.2%
2024
Consumer prices inflation
5.1%
2023-2024
9.87%
2022-2023
Unemployment rate
1.14%
2018
3.19%
2022
Population
21893857
33750171

Spending and national debt comparison by year

Chad
Spending

Debt
Madagascar
Spending

Debt
1x
Year % of GDP
Chad Madagascar
Government spending Government debt Government spending Government debt
2024 18.8% 32.7% 16.2% 50.3%
2023 17.1% 32.2% 17.9% 52.7%
2022 12.6% 32.1% 16.2% 49.9%
2021 13% 41.6% 13.9% 49.4%
2020 14.1% 41.7% 16.4% 52.9%
2019 10.6% 38.4% 15.4% 41.3%
2018 9.73% 33.8% 14.4% 42.9%
2017 11.3% 39.2% 14.9% 40.1%
2016 11.2% 40.1% 13.5% 40.3%
2015 13.8% 31.3% 13% 44.1%
2014 16.9% 29.4% 12.6% 37.8%
2013 16.6% 22.3% 12.7% 36.2%
2012 16.6% 20% 11.5% 30.4%
2011 16.3% 22.3% 12% 29.9%
2010 18.5% 22.9% 12.3% 32.3%
2009 19.8% 23.9% 12.5% 34.9%
2008 14.6% 15.7% 15.7% 31%
2007 13.6% 17.6% 16.1% 28.2%
2006 10.7% 20.1% 18.5% 32.2%
2005 8.87% 22% 18.4% 74.4%
2004 9.84% 25.2% 21.7% 81.9%
2003 14.9% 34.4% 16.6% 85.9%
2002 13.8% 42% 12.4% 86.7%
2001 12% 43.5% 15.3% 82.1%
2000 14% 52.4% 15.3% 90.2%
1999 12.9% 44.7% 15.5% 104.1%
1998 10.1% 34.7% 16.9% 108.5%
1997 12% 41.3% 14.5% 89.7%
1996 12% 40.5% 14.4% 98.7%
1995 12.3% 41.1% 14.5% 95.8%
1994 - - 16.7% 96%
1993 - - 17.1% 105.2%
1992 - - 16.2% 110.9%
1991 - - 13.5% 113.8%
1990 - - 13.3% 92.7%
1989 - - 15.5% 122%
1988 - - 11.4% 126.6%
1987 - - 10.4% 127.5%
1986 - - 11.1% 84.9%
1985 - - 11.8% 82.7%
1984 - - 13.9% 70.9%
1983 - - 13.4% 57.5%
1982 - - 14.3% 56.1%
1981 - - 18.2% 51.5%
1980 - - 22.7% 37.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-02-20).

GeoRank.org/economy/chad/madagascar | CC BY

In 2024, Chad's government spending was $3.67B, accounting for 18.8% of its GDP, while Madagascar spent $2.82B, or 16.2% of GDP.

Debt-to-GDP ratio is 32.7% in Chad and 50.3% in Madagascar, ranking 151/185 and 106/185, respectively.

Government deficit by year

Deficit/surplus
Chad

Madagascar
1x
Year Deficit/surplus, % of GDP
Chad Madagascar
2024 -2.11% -2.48%
2023 -1.26% -4.19%
2022 3.79% -5.46%
2021 -1.29% -2.83%
2020 1.24% -3.96%
2019 -0.11% -1.42%
2018 1.39% -1.34%
2017 -0.18% -2.1%
2016 -1.51% -1.11%
2015 -3.29% -2.85%
2014 -3.22% -1.96%
2013 -1.5% -3.4%
2012 0.33% -2.24%
2011 1.75% -2.04%
2010 -3.16% -0.76%
2009 -8.44% -2.26%
2008 2.82% -1.72%
2007 2.02% -2.31%
2006 1.7% -5.71%
2005 -0.05% -2.47%
2004 -1.84% -4.23%
2003 -4.32% -3.32%
2002 -4.08% -4.09%
2001 -3.53% -3.61%
2000 -4.68% -2.35%
1999 -4.07% -2.42%
1998 -1.73% -5.31%
1997 -2.58% -2%
1996 -2.86% -3.97%
1995 -3.12% -5.09%
1994 - -7.23%
1993 - -6.34%
1992 - -5%
1991 - -4.4%
1990 - -0.49%
1989 - -3.35%
1988 - -0.57%
1987 - -2.12%
1986 - -2.24%
1985 - -2.39%
1984 - -6.09%
1983 - -6.04%
1982 - -6.97%
1981 - -9.97%
1980 - -11%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/chad/madagascar | CC BY

In 2024, Chad's government deficit, the difference between spending and revenue, was $412M, equivalent to 2.11% of GDP. This compares to Madagascar's deficit of $432M, or 2.48% of GDP.

Over the past 30 years, Chad recorded a fiscal deficit in 22 of those years, while Madagascar ran a deficit in 30 years. On average, Chad posted an annual deficit equal to 1.46% of GDP, compared to deficit of 2.97% of GDP for Madagascar.

Inflation comparison by year

Inflation
Chad

Madagascar
1x
Year Consumer prices inflation
Chad Madagascar
2024 5.1% -
2023 2.3% 9.87%
2022 5.8% 8.16%
2021 -0.8% 5.81%
2020 4.5% 4.2%
2019 -1% 5.61%
2018 4% 8.59%
2017 -0.9% 8.61%
2016 -1.6% 6.04%
2015 4.8% 7.4%
2014 -5.5% 6.08%
2013 0.2% 5.83%
2012 7.5% 5.71%
2011 2% 9.48%
2010 -2.1% 9.25%
2009 10.1% 8.95%
2008 8.3% 9.3%
2007 -7.4% 10.3%
2006 9.6% 10.8%
2005 4.4% 18.4%
2004 -4.8% 14%
2003 -1.8% -1.7%
2002 5.2% 16.5%
2001 12.4% 7.92%
2000 3.8% 11.9%
1999 -8.4% 9.93%
1998 4.3% 6.21%
1997 5.6% 4.49%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2023, retrieved 2026-04-06).

GeoRank.org/economy/chad/madagascar | CC BY

Over the past 27 years, Chad has recorded an average annual inflation rate of 2.24%, compared with 8.42% in Madagascar. In 2023, inflation was 5.1% in Chad and 9.87% in Madagascar.

Top exports between countries

Chad
Export category Export value
Madagascar
Export category Export value
Processed food, beverages & tobacco $849K
Raw agricultural goods $50K
Wood & paper products $14K
Chemicals & pharma $9K
Raw materials & minerals $3K
Miscellaneous $1K

Balance of trade

Chad Madagascar
Current account balance
-$37.7M
1994
-$829M
2022
Current account balance ranking
82/190
1994
119/190
2022
Current account balance, % of GDP
-3.2%
1994
-5.41%
2022
Goods imports
$212M
1994
$4.52B
2022
Goods exports
$135M
1994
$3.55B
2022
Service imports
$199M
1994
$1.52B
2022
Service exports
$54.8M
1994
$1.14B
2022
Imports of goods and services, % of GDP
18.1%
2024
31.7%
2024
Exports of goods and services, % of GDP
29.8%
2024
23.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Chad Madagascar
Economic freedom 51.2 57
Economic freedom ranking 154/197 119/197
Property rights 17.2 39.8
Government integrity 15.2 26.8
Judicial effectiveness 15 33.7
Tax burden 77.9 90.5
Government spending 92.2 91.5
Fiscal health 97.9 68.8
Business freedom 27.4 37.3
Labor freedom 53.7 56.1
Monetary freedom 71.6 71.8
Trade freedom 46.4 67.6
Investment freedom 60 50
Financial freedom 40 50

Economic freedom comparison by year

Chad
Madagascar
1x
Year Economic freedom index
Chad Madagascar
2026 51.2 57
2025 52.2 57
2024 51.4 57.3
2023 52 58.9
2022 49.8 58.9
2021 50.4 57.7
2020 50.2 60.5
2019 49.9 56.6
2018 49.3 56.8
2017 49 57.4
2016 46.3 61.1
2015 45.9 61.7
2014 44.5 61.7
2013 45.2 62
2012 44.8 62.4
2011 45.3 61.2
2010 47.5 63.2
2009 47.5 62.2
2008 47.8 62.4
2007 50.1 61.1
2006 50 61
2005 52.1 63.1
2004 53.1 60.9
2003 52.6 62.8
2002 49.2 56.8
2001 46.4 53.9
2000 46.8 54.4
1999 47.2 52.8
1998 46.6 51.8
1997 45.1 53.8
1996 - 52.2
1995 - 51.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/chad/madagascar | CC BY

The Economic Freedom Index for Chad is 51.2, ranking 154/197, compared to 57 for Madagascar, ranking 119/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Chad Madagascar
Services, % of GDP
29.8%
2024
47.7%
2024
Industry, % of GDP
28.7%
2024
22.8%
2024
Agriculture, forestry, and fishing, % of GDP
37.7%
2024
22.5%
2024
GNI, Atlas method
$19.1B
2024
$16.4B
2024
GNI per capita, PPP
$2,710
2024
$1,830
2024
Total reserves including gold
$1.05B
2023
$2.78B
2024
Total reserves ranking
140/177
2023
120/177
2024
Net foreign direct investment
-$26.5M
1994
-$326M
2022
Net inflows of foreign direct investment
$1.02B
2024
$606M
2024
Net outflows of foreign direct investment
$0
2024
$134M
2024
Servicing debt to the IMF, % of GNI
1.9%
2024
1.72%
2024
Poverty at national poverty lines
44.8%
2022
75.2%
2021
Gross capital formation, % of GDP
26.8%
2024
22.2%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/chad/madagascar | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.