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Economy of Congo vs Madagascar compared: GDP & Debt

Updated on by Georank team

The Congo has a GDP of $15.7B compared to $17.4B for Madagascar, ranking 141/197 and 136/197 by economy size, respectively.

The Congo has $15.4B in government debt (98% of GDP), compared to $8.77B (50.3% of GDP) in Madagascar.

Congo vs Madagascar GDP by year

Congo
Madagascar
1x
Year GDP, current $
Congo Madagascar
2024 $15,719,986,077 $17,420,501,490
2023 $15,321,055,823 $15,869,945,478
2022 $15,817,030,155 $15,325,603,273
2021 $14,825,690,211 $14,354,731,964
2020 $11,468,687,464 $13,051,441,204
2019 $13,976,637,780 $14,104,664,679
2018 $14,773,900,289 $13,760,033,282
2017 $11,834,473,039 $13,176,313,594
2016 $10,931,328,151 $11,848,613,858
2015 $12,434,793,867 $11,323,020,701
2014 $17,919,321,078 $12,522,957,399
2013 $17,958,720,699 $12,423,555,455
2012 $17,692,911,296 $11,578,975,062
2011 $15,655,383,577 $11,551,819,618
2010 $13,148,396,212 $9,982,711,338
2009 $9,723,299,915 $9,616,879,409
2008 $11,649,857,673 $10,725,137,724
2007 $8,782,703,437 $8,524,620,890
2006 $8,072,305,029 $6,395,712,491
2005 $6,650,001,680 $5,859,269,753
2004 $4,656,974,940 $5,064,732,626
2003 $3,503,723,088 $6,372,498,890
2002 $3,034,250,924 $5,351,701,663
2001 $2,796,704,604 $5,438,332,602
2000 $3,227,927,698 $4,629,247,204
1999 $2,354,772,960 $4,277,903,780
1998 $1,949,481,379 $4,401,967,633
1997 $2,322,719,103 $4,262,965,420
1996 $2,540,697,539 $4,931,861,039
1995 $2,116,003,868 $3,838,100,904
1994 $1,769,365,438 $3,522,227,092
1993 $2,684,323,623 $4,063,298,919
1992 $2,933,222,703 $3,714,966,678
1991 $2,724,853,506 $3,254,713,056
1990 $2,798,746,050 $3,931,334,875
1989 $2,389,593,026 $3,175,638,333
1988 $2,212,536,312 $3,189,456,965
1987 $2,297,753,652 $3,212,900,556
1986 $1,849,268,212 $4,347,989,788
1985 $2,160,872,540 $3,802,557,895
1984 $2,193,581,365 $3,905,938,481
1983 $2,097,274,290 $4,686,457,031
1982 $2,160,640,565 $4,784,977,326
1981 $1,993,512,323 $4,759,333,998
1980 $1,705,796,853 $5,201,818,348
1979 $1,198,749,667 $3,463,565,854
1978 $878,771,772 $2,669,755,115
1977 $765,224,029 $2,358,930,406
1976 $754,549,601 $2,181,844,179
1975 $767,102,680 $2,283,049,215
1974 $585,364,634 $1,917,508,190
1973 $541,973,363 $1,653,062,335
1972 $410,669,264 $1,341,590,690
1971 $322,128,019 $1,199,507,631
1970 $274,960,700 $1,111,859,571
1969 $265,040,036 $1,056,391,056
1968 $251,247,458 $1,031,669,637
1967 $237,397,428 $956,436,932
1966 $220,613,582 $900,264,585
1965 $198,318,064 $833,563,473
1964 $185,693,725 $802,482,184
1963 $172,233,431 $759,345,864
1962 $166,521,240 $739,286,908
1961 $151,675,739 $699,161,945
1960 $131,731,863 $673,081,725

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

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

GDP per capita in Congo vs Madagascar by year

Congo
GDP per capita

GDP per capita, PPP
Madagascar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Congo Madagascar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,482 $7,026 $545 $1,884
2023 $2,478 $6,850 $509 $1,808
2022 $2,621 $6,647 $504 $1,717
2021 $2,516 $6,263 $483 $1,577
2020 $1,994 $4,771 $451 $1,490
2019 $2,488 $5,720 $500 $1,612
2018 $2,694 $5,593 $500 $1,547
2017 $2,212 $4,445 $492 $1,547
2016 $2,093 $4,016 $454 $1,562
2015 $2,439 $4,715 $445 $1,497
2014 $3,601 $5,733 $506 $1,499
2013 $3,697 $5,834 $515 $1,473
2012 $3,732 $6,058 $494 $1,464
2011 $3,396 $5,175 $506 $1,475
2010 $2,947 $5,125 $450 $1,464
2009 $2,271 $4,801 $446 $1,480
2008 $2,832 $4,448 $513 $1,577
2007 $2,206 $4,243 $420 $1,493
2006 $2,104 $4,588 $324 $1,416
2005 $1,799 $4,279 $306 $1,343
2004 $1,306 $3,992 $272.2 $1,280
2003 $1,017 $3,887 $353 $1,219
2002 $906 $3,888 $305 $1,121
2001 $855 $3,748 $319 $1,299
2000 $1,024 $3,667 $280.3 $1,236
1999 $776 $3,464 $267.4 $1,194
1998 $660 $3,602 $284.2 $1,162
1997 $804 $3,510 $284.4 $1,142
1996 $899 $3,547 $340 $1,119
1995 $770 $3,434 $273.1 $1,111
1994 $662 $3,327 $258.7 $1,104
1993 $1,034 $3,550 $308 $1,116
1992 $1,164 $3,608 $290.2 $1,101
1991 $1,113 $3,536 $262 $1,096
1990 $1,176 $3,437 $326 $1,166
1989 $1,033 - $271.3 -
1988 $984 - $280.5 -
1987 $1,052 - $290.8 -
1986 $872 - $405 -
1985 $1,049 - $364 -
1984 $1,097 - $385 -
1983 $1,075 - $476 -
1982 $1,131 - $501 -
1981 $1,066 - $513 -
1980 $933 - $578 -
1979 $670 - $396 -
1978 $503 - $315 -
1977 $448 - $286.9 -
1976 $453 - $273.5 -
1975 $471 - $295 -
1974 $370 - $255.3 -
1973 $353 - $226.8 -
1972 $276.3 - $189.6 -
1971 $223.5 - $174.6 -
1970 $196.7 - $166.6 -
1969 $195.4 - $162.9 -
1968 $190.8 - $163.6 -
1967 $185.7 - $155.9 -
1966 $177.6 - $150.7 -
1965 $164.2 - $143.2 -
1964 $158.1 - $141.5 -
1963 $150.7 - $137.4 -
1962 $149.6 - $137.3 -
1961 $139.9 - $133.3 -
1960 $124.7 - $131.7 -

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

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

The Congo's GDP per capita is $2,482, ranking 149/197, compared to $545 in Madagascar, ranking 193/197. Adjusted for purchasing power (GDP per capita PPP), the Congo ranks 148th at $7,026, while Madagascar ranks 187th at $1,884.

Economic indicators

Congo Madagascar
Gross domestic product
$15.7B
2024
$17.4B
2024
GDP rank
141/197
2024
136/197
2024
GDP growth
2.58%
2023-2024
4.2%
2023-2024
GDP per capita
$2,482
2024
$545
2024
GDP per capita rank
149/197
2024
193/197
2024
GDP per capita, PPP
$7,026
2024
$1,884
2024
GDP per capita PPP rank
148/197
2024
187/197
2024
Government debt
$15.4B
2024
$8.77B
2024
Debt-to-GDP ratio
98%
2024
50.3%
2024
Government debt per person
$2,433
2024
$274.3
2024
Government debt per person rank
112/185
2024
180/185
2024
Average annual personal income after taxes
$2,153
2026
$1,268
2026
Income share by richest 10%
37.9%
2011
29.6%
2021
Income share by poorest 10%
1.6%
2011
2.9%
2021
Government expenditure, % of GDP
21.7%
2024
16.2%
2024
Consumer prices inflation
3.1%
2023-2024
9.87%
2022-2023
Unemployment rate
10%
2012
3.19%
2022
Population
6681829
33750171

Spending and national debt comparison by year

Congo
Spending

Debt
Madagascar
Spending

Debt
1x
Year % of GDP
Congo Madagascar
Government spending Government debt Government spending Government debt
2024 21.7% 98% 16.2% 50.3%
2023 20.7% 102.9% 17.9% 52.7%
2022 22.8% 93.5% 16.2% 49.9%
2021 20.9% 97.8% 13.9% 49.4%
2020 21.1% 102.5% 16.4% 52.9%
2019 20.2% 77.6% 15.4% 41.3%
2018 17.8% 71.2% 14.4% 42.9%
2017 26.6% 88.5% 14.9% 40.1%
2016 38.8% 84.6% 13.5% 40.3%
2015 41.3% 74.2% 13% 44.1%
2014 48.6% 42.3% 12.6% 37.8%
2013 42.4% 33.9% 12.7% 36.2%
2012 30.7% 30.2% 11.5% 30.4%
2011 27.9% 34.4% 12% 29.9%
2010 23% 43.5% 12.3% 32.3%
2009 24.4% 83.8% 12.5% 34.9%
2008 24.2% 69.6% 15.7% 31%
2007 28.6% 93.8% 16.1% 28.2%
2006 26.6% 94.7% 18.5% 32.2%
2005 22.1% 99.8% 18.4% 74.4%
2004 24.4% 122.6% 21.7% 81.9%
2003 27% 185.3% 16.6% 85.9%
2002 32.1% 163.5% 12.4% 86.7%
2001 29.1% 180.1% 15.3% 82.1%
2000 22.6% 145% 15.3% 90.2%
1999 28.8% 0% 15.5% 104.1%
1998 25.1% 0% 16.9% 108.5%
1997 22.2% 0% 14.5% 89.7%
1996 15.7% 0% 14.4% 98.7%
1995 27.6% 0% 14.5% 95.8%
1994 30.7% 0% 16.7% 96%
1993 32.8% 0% 17.1% 105.2%
1992 32.8% 0% 16.2% 110.9%
1991 34.1% 0% 13.5% 113.8%
1990 30.4% 0% 13.3% 92.7%
1989 20.3% 151.7% 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 (1980–1989, retrieved 2026-02-20).

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

In 2024, the Congo's government spending was $3.4B, accounting for 21.7% of its GDP, while Madagascar spent $2.82B, or 16.2% of GDP.

Debt-to-GDP ratio is 98% in the Congo and 50.3% in Madagascar, ranking 25/185 and 106/185, respectively.

Government deficit by year

Deficit/surplus
Congo

Madagascar
1x
Year Deficit/surplus, % of GDP
Congo Madagascar
2024 3.62% -2.48%
2023 5.81% -4.19%
2022 8.94% -5.46%
2021 1.63% -2.83%
2020 -1.1% -3.96%
2019 4.3% -1.42%
2018 5.22% -1.34%
2017 -5.57% -2.1%
2016 -14.5% -1.11%
2015 -17.8% -2.85%
2014 -10.7% -1.96%
2013 -2.85% -3.4%
2012 7.24% -2.24%
2011 16.1% -2.04%
2010 15.5% -0.76%
2009 4.76% -2.26%
2008 23.9% -1.72%
2007 8.99% -2.31%
2006 16% -5.71%
2005 13.4% -2.47%
2004 3.33% -4.23%
2003 0.37% -3.32%
2002 -7.34% -4.09%
2001 -0.71% -3.61%
2000 1.05% -2.35%
1999 -4.75% -2.42%
1998 -5.16% -5.31%
1997 3.67% -2%
1996 9.2% -3.97%
1995 -6.38% -5.09%
1994 -10.6% -7.23%
1993 -11.3% -6.34%
1992 -12.7% -5%
1991 -11.2% -4.4%
1990 -4.1% -0.49%
1989 0.78% -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/congo/madagascar | CC BY

In 2024, the Congo's government surplus, the difference between spending and revenue, was $568M, equivalent to 3.62% of GDP. This compares to Madagascar's deficit of $432M, or 2.48% of GDP.

Over the past 36 years, the Congo recorded a fiscal deficit in 16 of those years, while Madagascar ran a deficit in 36 years. On average, the Congo posted an annual surplus equal to 0.75% of GDP, compared to deficit of 3.22% of GDP for Madagascar.

Inflation comparison by year

Inflation
Congo

Madagascar
1x
Year Consumer prices inflation
Congo Madagascar
2024 3.1% -
2023 4.3% 9.87%
2022 3% 8.16%
2021 2% 5.81%
2020 1.4% 4.2%
2019 0.4% 5.61%
2018 1.2% 8.59%
2017 0.4% 8.61%
2016 3.2% 6.04%
2015 3.2% 7.4%
2014 0.9% 6.08%
2013 4.6% 5.83%
2012 5% 5.71%
2011 1.8% 9.48%
2010 0.4% 9.25%
2009 4.3% 8.95%
2008 6% 9.3%
2007 2.6% 10.3%
2006 4.7% 10.8%
2005 2.5% 18.4%
2004 3.7% 14%
2003 1.7% -1.7%
2002 3% 16.5%
2001 0.8% 7.92%
2000 0.5% 11.9%
1999 3% 9.93%
1998 2.2% 6.21%
1997 12.7% 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/congo/madagascar | CC BY

Over the past 27 years, the Congo has recorded an average annual inflation rate of 2.94%, compared with 8.42% in Madagascar. In 2023, inflation was 3.1% in the Congo and 9.87% in Madagascar.

Top exports between countries

Congo
Export category Export value
Wood & paper products $44K
Miscellaneous $14K
Machinery & equipment $13K
Madagascar
Export category Export value
Processed food, beverages & tobacco $236K
Miscellaneous $99K
Machinery & equipment $48K
Metals $19K
Raw materials & minerals $7K
Precious metals & jewellery $6K
Wood & paper products $4K
Textiles & consumer goods $3K
Chemicals & pharma $2K

Balance of trade

Congo Madagascar
Current account balance
$1.72B
2021
-$829M
2022
Current account balance ranking
48/190
2021
119/190
2022
Current account balance, % of GDP
+11.6%
2021
-5.41%
2022
Goods imports
$2.78B
2021
$4.52B
2022
Goods exports
$7.51B
2021
$3.55B
2022
Service imports
$1.71B
2021
$1.52B
2022
Service exports
$240M
2021
$1.14B
2022
Imports of goods and services, % of GDP
40.4%
2024
31.7%
2024
Exports of goods and services, % of GDP
52.8%
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.

Congo Madagascar
Economic freedom 48.6 57
Economic freedom ranking 169/197 119/197
Property rights 28.7 39.8
Government integrity 13.9 26.8
Judicial effectiveness 15.4 33.7
Tax burden 73.7 90.5
Government spending 85.8 91.5
Fiscal health 80.8 68.8
Business freedom 35.8 37.3
Labor freedom 52.4 56.1
Monetary freedom 78.4 71.8
Trade freedom 52.8 67.6
Investment freedom 35 50
Financial freedom 30 50

Economic freedom comparison by year

Congo
Madagascar
1x
Year Economic freedom index
Congo Madagascar
2026 48.6 57
2025 48.6 57
2024 47.8 57.3
2023 48.1 58.9
2022 48.5 58.9
2021 50.7 57.7
2020 41.8 60.5
2019 39.7 56.6
2018 38.9 56.8
2017 40 57.4
2016 42.8 61.1
2015 42.7 61.7
2014 43.7 61.7
2013 43.5 62
2012 43.8 62.4
2011 43.6 61.2
2010 43.2 63.2
2009 45.4 62.2
2008 45.3 62.4
2007 44.4 61.1
2006 43.8 61
2005 46.2 63.1
2004 45.9 60.9
2003 47.7 62.8
2002 45.3 56.8
2001 44.3 53.9
2000 40.6 54.4
1999 41.6 52.8
1998 33.8 51.8
1997 42.2 53.8
1996 40.3 52.2
1995 - 51.6

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

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

The Economic Freedom Index for the Congo is 48.6, ranking 169/197, compared to 57 for Madagascar, ranking 119/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Congo Madagascar
Services, % of GDP
45%
2024
47.7%
2024
Industry, % of GDP
40.1%
2024
22.8%
2024
Agriculture, forestry, and fishing, % of GDP
9.44%
2024
22.5%
2024
GNI, Atlas method
$14.4B
2024
$16.4B
2024
GNI per capita, PPP
$6,340
2024
$1,830
2024
Total reserves including gold
$715M
2023
$2.78B
2024
Total reserves ranking
148/177
2023
120/177
2024
Net foreign direct investment
$330M
2021
-$326M
2022
Net inflows of foreign direct investment
$604M
2024
$606M
2024
Net outflows of foreign direct investment
$25.4M
2024
$134M
2024
Servicing debt to the IMF, % of GNI
7.67%
2024
1.72%
2024
Poverty at national poverty lines
40.9%
2011
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/congo/madagascar | CC BY

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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 (1980–1989, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, 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.