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Economy of Gabon vs Madagascar compared: GDP & Debt

Updated on by Georank team

Gabon has a GDP of $20.9B compared to $17.4B for Madagascar, ranking 127/197 and 136/197 by economy size, respectively.

Gabon has $15.2B in government debt (72.7% of GDP), compared to $8.77B (50.3% of GDP) in Madagascar.

Gabon vs Madagascar GDP by year

Gabon
Madagascar
1x
Year GDP, current $
Gabon Madagascar
2024 $20,895,684,426 $17,420,501,490
2023 $19,388,372,071 $15,869,945,478
2022 $20,440,655,695 $15,325,603,273
2021 $19,444,935,097 $14,354,731,964
2020 $15,342,236,164 $13,051,441,204
2019 $16,874,405,465 $14,104,664,679
2018 $16,867,326,402 $13,760,033,282
2017 $14,929,487,485 $13,176,313,594
2016 $14,023,890,265 $11,848,613,858
2015 $14,383,107,763 $11,323,020,701
2014 $18,203,966,896 $12,522,957,399
2013 $17,595,744,798 $12,423,555,455
2012 $17,170,464,016 $11,578,975,062
2011 $18,210,307,744 $11,551,819,618
2010 $14,372,593,020 $9,982,711,338
2009 $12,113,699,068 $9,616,879,409
2008 $15,571,348,344 $10,725,137,724
2007 $12,455,409,587 $8,524,620,890
2006 $10,327,598,306 $6,395,712,491
2005 $9,582,783,991 $5,859,269,753
2004 $7,770,219,008 $5,064,732,626
2003 $6,511,903,365 $6,372,498,890
2002 $5,335,451,100 $5,351,701,663
2001 $5,023,265,413 $5,438,332,602
2000 $5,080,483,629 $4,629,247,204
1999 $4,662,992,036 $4,277,903,780
1998 $4,483,417,310 $4,401,967,633
1997 $5,326,817,115 $4,262,965,420
1996 $5,694,040,003 $4,931,861,039
1995 $4,958,845,648 $3,838,100,904
1994 $4,190,819,344 $3,522,227,092
1993 $4,378,645,081 $4,063,298,919
1992 $5,592,390,827 $3,714,966,678
1991 $5,402,919,785 $3,254,713,056
1990 $5,952,293,765 $3,931,334,875
1989 $4,186,411,464 $3,175,638,333
1988 $3,834,503,376 $3,189,456,965
1987 $3,281,797,043 $3,212,900,556
1986 $3,403,638,189 $4,347,989,788
1985 $3,339,914,757 $3,802,557,895
1984 $3,561,451,561 $3,905,938,481
1983 $3,391,275,732 $4,686,457,031
1982 $3,618,007,841 $4,784,977,326
1981 $3,862,269,121 $4,759,333,998
1980 $4,279,637,942 $5,201,818,348
1979 $3,030,251,120 $3,463,565,854
1978 $2,389,479,272 $2,669,755,115
1977 $2,809,349,069 $2,358,930,406
1976 $3,009,409,974 $2,181,844,179
1975 $2,157,592,940 $2,283,049,215
1974 $1,544,216,002 $1,917,508,190
1973 $722,780,701 $1,653,062,335
1972 $430,508,359 $1,341,590,690
1971 $381,687,073 $1,199,507,631
1970 $323,802,476 $1,111,859,571
1969 $318,124,701 $1,056,391,056
1968 $294,468,564 $1,031,669,637
1967 $271,543,680 $956,436,932
1966 $245,849,781 $900,264,585
1965 $226,474,286 $833,563,473
1964 $215,679,855 $802,482,184
1963 $154,480,244 $759,345,864
1962 $182,796,536 $739,286,908
1961 $167,637,907 $699,161,945
1960 $141,468,978 $673,081,725

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

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

GDP per capita in Gabon vs Madagascar by year

Gabon
GDP per capita

GDP per capita, PPP
Madagascar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Gabon Madagascar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,230 $21,510 $545 $1,884
2023 $7,803 $20,756 $509 $1,808
2022 $8,409 $19,993 $504 $1,717
2021 $8,181 $18,524 $483 $1,577
2020 $6,606 $14,477 $451 $1,490
2019 $7,441 $15,950 $500 $1,612
2018 $7,624 $15,432 $500 $1,547
2017 $6,922 $14,797 $492 $1,547
2016 $6,677 $13,998 $454 $1,562
2015 $7,047 $14,306 $445 $1,497
2014 $9,201 $14,854 $506 $1,499
2013 $9,198 $14,498 $515 $1,473
2012 $9,297 $14,620 $494 $1,464
2011 $10,219 $14,784 $506 $1,475
2010 $8,357 $14,015 $450 $1,464
2009 $7,291 $13,384 $446 $1,480
2008 $9,689 $13,734 $513 $1,577
2007 $8,004 $14,391 $420 $1,493
2006 $6,847 $13,637 $324 $1,416
2005 $6,548 $14,028 $306 $1,343
2004 $5,466 $13,638 $272.2 $1,280
2003 $4,711 $13,564 $353 $1,219
2002 $3,966 $13,369 $305 $1,121
2001 $3,836 $13,556 $319 $1,299
2000 $3,983 $13,326 $280.3 $1,236
1999 $3,751 $13,629 $267.4 $1,194
1998 $3,700 $15,138 $284.2 $1,162
1997 $4,509 $14,837 $284.4 $1,142
1996 $4,943 $14,147 $340 $1,119
1995 $4,415 $13,750 $273.1 $1,111
1994 $3,828 $13,164 $258.7 $1,104
1993 $4,106 $12,757 $308 $1,116
1992 $5,386 $12,312 $290.2 $1,101
1991 $5,345 $12,760 $262 $1,096
1990 $6,051 $11,952 $326 $1,166
1989 $4,374 - $271.3 -
1988 $4,119 - $280.5 -
1987 $3,624 - $290.8 -
1986 $3,865 - $405 -
1985 $3,898 - $364 -
1984 $4,273 - $385 -
1983 $4,182 - $476 -
1982 $4,584 - $501 -
1981 $5,026 - $513 -
1980 $5,718 - $578 -
1979 $4,155 - $396 -
1978 $3,360 - $315 -
1977 $4,048 - $286.9 -
1976 $4,441 - $273.5 -
1975 $3,258 - $295 -
1974 $2,384 - $255.3 -
1973 $1,140 - $226.8 -
1972 $693 - $189.6 -
1971 $627 - $174.6 -
1970 $543 - $166.6 -
1969 $545 - $162.9 -
1968 $515 - $163.6 -
1967 $482 - $155.9 -
1966 $443 - $150.7 -
1965 $415 - $143.2 -
1964 $400 - $141.5 -
1963 $290.7 - $137.4 -
1962 $348 - $137.3 -
1961 $323 - $133.3 -
1960 $276.1 - $131.7 -

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

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

Gabon's GDP per capita is $8,230, ranking 93/197, compared to $545 in Madagascar, ranking 193/197. Adjusted for purchasing power (GDP per capita PPP), Gabon ranks 90th at $21,510, while Madagascar ranks 187th at $1,884.

Economic indicators

Gabon Madagascar
Gross domestic product
$20.9B
2024
$17.4B
2024
GDP rank
127/197
2024
136/197
2024
GDP growth
3.39%
2023-2024
4.2%
2023-2024
GDP per capita
$8,230
2024
$545
2024
GDP per capita rank
93/197
2024
193/197
2024
GDP per capita, PPP
$21,510
2024
$1,884
2024
GDP per capita PPP rank
90/197
2024
187/197
2024
Government debt
$15.2B
2024
$8.77B
2024
Debt-to-GDP ratio
72.7%
2024
50.3%
2024
Government debt per person
$5,985
2024
$274.3
2024
Government debt per person rank
75/185
2024
180/185
2024
Average annual personal income after taxes
$5,368
2026
$1,268
2026
Income share by richest 10%
27.7%
2017
29.6%
2021
Income share by poorest 10%
2.2%
2017
2.9%
2021
Government expenditure, % of GDP
24.8%
2024
16.2%
2024
Consumer prices inflation
1.17%
2023-2024
9.87%
2022-2023
Unemployment rate
20.4%
2010
3.19%
2022
Population
2663339
33750171

Spending and national debt comparison by year

Gabon
Spending

Debt
Madagascar
Spending

Debt
1x
Year % of GDP
Gabon Madagascar
Government spending Government debt Government spending Government debt
2024 24.8% 72.7% 16.2% 50.3%
2023 21.5% 70.6% 17.9% 52.7%
2022 19.7% 65.6% 16.2% 49.9%
2021 17.3% 72.9% 13.9% 49.4%
2020 19.8% 83% 16.4% 52.9%
2019 17.4% 59.8% 15.4% 41.3%
2018 17.1% 62.3% 14.4% 42.9%
2017 18.1% 62.9% 14.9% 40.1%
2016 21.8% 64.5% 13.5% 40.3%
2015 22.3% 44.7% 13% 44.1%
2014 23.8% 34.1% 12.6% 37.8%
2013 34.7% 31.1% 12.7% 36.2%
2012 23.9% 21.4% 11.5% 30.4%
2011 22.1% 21.4% 12% 29.9%
2010 23.1% 21.3% 12.3% 32.3%
2009 22.6% 26% 12.5% 34.9%
2008 18.9% 20.1% 15.7% 31%
2007 19.4% 39.2% 16.1% 28.2%
2006 21.1% 34.9% 18.5% 32.2%
2005 20.8% 41.7% 18.4% 74.4%
2004 20.9% 60.3% 21.7% 81.9%
2003 21.2% 70.2% 16.6% 85.9%
2002 25.7% 81.1% 12.4% 86.7%
2001 27.8% 81% 15.3% 82.1%
2000 20.3% 72.5% 15.3% 90.2%
1999 25.5% 73.1% 15.5% 104.1%
1998 45.5% 87.6% 16.9% 108.5%
1997 29.7% 57% 14.5% 89.7%
1996 22.2% 64.5% 14.4% 98.7%
1995 25.1% 73.4% 14.5% 95.8%
1994 23.9% 71.3% 16.7% 96%
1993 26.9% 90.1% 17.1% 105.2%
1992 26.5% 87.9% 16.2% 110.9%
1991 25.1% 89.3% 13.5% 113.8%
1990 22.6% 90% 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 (1980–1989, retrieved 2026-02-20).

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

In 2024, Gabon's government spending was $5.18B, accounting for 24.8% of its GDP, while Madagascar spent $2.82B, or 16.2% of GDP.

Debt-to-GDP ratio is 72.7% in Gabon and 50.3% in Madagascar, ranking 51/185 and 106/185, respectively.

Government deficit by year

Deficit/surplus
Gabon

Madagascar
1x
Year Deficit/surplus, % of GDP
Gabon Madagascar
2024 -3.84% -2.48%
2023 1.79% -4.19%
2022 -0.89% -5.46%
2021 -1.93% -2.83%
2020 -2.19% -3.96%
2019 2.13% -1.42%
2018 -0.21% -1.34%
2017 -1.7% -2.1%
2016 -4.71% -1.11%
2015 -1.12% -2.85%
2014 5.98% -1.96%
2013 -3.07% -3.4%
2012 6.2% -2.24%
2011 1.41% -2.04%
2010 2.7% -0.76%
2009 6.77% -2.26%
2008 11% -1.72%
2007 8.06% -2.31%
2006 8.67% -5.71%
2005 7.98% -2.47%
2004 6.99% -4.23%
2003 7.75% -3.32%
2002 3.72% -4.09%
2001 4.07% -3.61%
2000 11.1% -2.35%
1999 1.11% -2.42%
1998 -13.1% -5.31%
1997 1.41% -2%
1996 2.12% -3.97%
1995 2.64% -5.09%
1994 -1.53% -7.23%
1993 -5.35% -6.34%
1992 -4.9% -5%
1991 -2.03% -4.4%
1990 -3.83% -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/gabon/madagascar | CC BY

In 2024, Gabon's government deficit, the difference between spending and revenue, was $802M, equivalent to 3.84% of GDP. This compares to Madagascar's deficit of $432M, or 2.48% of GDP.

Over the past 35 years, Gabon recorded a fiscal deficit in 15 of those years, while Madagascar ran a deficit in 35 years. On average, Gabon posted an annual surplus equal to 1.52% of GDP, compared to deficit of 3.21% of GDP for Madagascar.

Inflation comparison by year

Inflation
Gabon

Madagascar
1x
Year Consumer prices inflation
Gabon Madagascar
2024 1.17% -
2023 3.63% 9.87%
2022 4.23% 8.16%
2021 1.09% 5.81%
2020 1.35% 4.2%
2019 2.46% 5.61%
2018 4.75% 8.59%
2017 2.65% 8.61%
2016 2.11% 6.04%
2015 -0.34% 7.4%
2014 4.69% 6.08%
2013 0.51% 5.83%
2012 2.65% 5.71%
2011 1.26% 9.48%
2010 1.46% 9.25%
2009 1.89% 8.95%
2008 5.26% 9.3%
2007 5.03% 10.3%
2006 -1.41% 10.8%
2005 3.71% 18.4%
2004 0.41% 14%
2003 2.24% -1.7%
2002 0.04% 16.5%
2001 2.14% 7.92%
2000 0.5% 11.9%
1999 -1.94% 9.93%
1998 1.45% 6.21%
1997 3.97% 4.49%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 27 years, Gabon has recorded an average annual inflation rate of 2.07%, compared with 8.42% in Madagascar. In 2023, inflation was 1.17% in Gabon and 9.87% in Madagascar.

Top exports between countries

Gabon
Export category Export value
Machinery & equipment $6.12M
Textiles & consumer goods $29K
Wood & paper products $27K
Metals $13K
Precious metals & jewellery $3K
Madagascar
Export category Export value
Machinery & equipment $202K
Textiles & consumer goods $31K
Miscellaneous $24K
Raw materials & minerals $11K

Balance of trade

Gabon Madagascar
Current account balance
$141M
2015
-$829M
2022
Current account balance ranking
66/190
2015
119/190
2022
Current account balance, % of GDP
+0.98%
2015
-5.41%
2022
Goods imports
$3.17B
2015
$4.52B
2022
Goods exports
$5.11B
2015
$3.55B
2022
Service imports
$1.88B
2015
$1.52B
2022
Service exports
$277M
2015
$1.14B
2022
Imports of goods and services, % of GDP
27.5%
2024
31.7%
2024
Exports of goods and services, % of GDP
64.6%
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.

Gabon Madagascar
Economic freedom 56.6 57
Economic freedom ranking 120/197 119/197
Property rights 30 39.8
Government integrity 22.6 26.8
Judicial effectiveness 19.9 33.7
Tax burden 76.5 90.5
Government spending 85.5 91.5
Fiscal health 87.9 68.8
Business freedom 63.6 37.3
Labor freedom 55.4 56.1
Monetary freedom 80.9 71.8
Trade freedom 57.4 67.6
Investment freedom 60 50
Financial freedom 40 50

Economic freedom comparison by year

Gabon
Madagascar
1x
Year Economic freedom index
Gabon Madagascar
2026 56.6 57
2025 56.3 57
2024 56.9 57.3
2023 56.1 58.9
2022 55.8 58.9
2021 58.1 57.7
2020 56.7 60.5
2019 56.3 56.6
2018 58 56.8
2017 58.6 57.4
2016 59 61.1
2015 58.3 61.7
2014 57.8 61.7
2013 57.8 62
2012 56.4 62.4
2011 56.7 61.2
2010 55.4 63.2
2009 55 62.2
2008 54.2 62.4
2007 54.8 61.1
2006 56.1 61
2005 54.8 63.1
2004 57.1 60.9
2003 58.7 62.8
2002 58 56.8
2001 55 53.9
2000 58.2 54.4
1999 60.5 52.8
1998 59.2 51.8
1997 58.8 53.8
1996 55.7 52.2
1995 57.5 51.6

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

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

The Economic Freedom Index for Gabon is 56.6, ranking 120/197, compared to 57 for Madagascar, ranking 119/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Gabon Madagascar
Services, % of GDP
36.8%
2024
47.7%
2024
Industry, % of GDP
52.9%
2024
22.8%
2024
Agriculture, forestry, and fishing, % of GDP
6.56%
2024
22.5%
2024
GNI, Atlas method
$19.8B
2024
$16.4B
2024
GNI per capita, PPP
$20,400
2024
$1,830
2024
Total reserves including gold
$1.45B
2023
$2.78B
2024
Total reserves ranking
136/177
2023
120/177
2024
Net foreign direct investment
-$25.3M
2015
-$326M
2022
Net inflows of foreign direct investment
$1.14B
2024
$606M
2024
Net outflows of foreign direct investment
-$33.8M
2019
$134M
2024
Servicing debt to the IMF, % of GNI
5.67%
2024
1.72%
2024
Poverty at national poverty lines
33.4%
2017
75.2%
2021
Gross capital formation, % of GDP
19.1%
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/gabon/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 (2021–2024, 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.