Skip to content

Economy of Madagascar vs Myanmar compared: GDP & Debt

Updated on by Georank team

Madagascar has a GDP of $17.4B compared to $74.1B for Myanmar, ranking 136/197 and 85/197 by economy size, respectively.

Madagascar has $8.77B in government debt (50.3% of GDP), compared to $44B (59.3% of GDP) in Myanmar.

Madagascar vs Myanmar GDP by year

Madagascar
Myanmar
1x
Year GDP, current $
Madagascar Myanmar
2024 $17,420,501,490 $74,068,349,524
2023 $15,869,945,478 $66,757,619,000
2022 $15,325,603,273 $62,253,049,903
2021 $14,354,731,964 $66,345,291,149
2020 $13,051,441,204 $79,006,113,670
2019 $14,104,664,679 $75,065,106,243
2018 $13,760,033,282 $67,860,515,993
2017 $13,176,313,594 $66,053,040,475
2016 $11,848,613,858 $63,298,361,984
2015 $11,323,020,701 $59,607,290,408
2014 $12,522,957,399 $65,531,374,210
2013 $12,423,555,455 $60,269,732,855
2012 $11,578,975,062 $59,937,796,648
2011 $11,551,819,618 $59,977,326,086
2010 $9,982,711,338 $49,540,813,342
2009 $9,616,879,409 $36,906,181,381
2008 $10,725,137,724 $31,862,554,102
2007 $8,524,620,890 $20,182,477,481
2006 $6,395,712,491 $14,502,553,710
2005 $5,859,269,753 $11,986,972,419
2004 $5,064,732,626 $10,567,354,056
2003 $6,372,498,890 $10,467,109,978
2002 $5,351,701,663 $6,777,632,512
2001 $5,438,332,602 $6,477,790,688
2000 $4,629,247,204 $8,905,066,164
1999 $4,277,903,780 $8,486,832,801
1998 $4,401,967,633 $6,459,461,639
1997 $4,262,965,420 $4,722,288,496
1996 $4,931,861,039 $6,123,556,717
1995 $3,838,100,904 $5,289,174,943
1994 $3,522,227,092 $4,432,257,174
1993 $4,063,298,919 $3,163,020,035
1992 $3,714,966,678 $2,411,552,289
1991 $3,254,713,056 $2,069,832,687
1990 $3,931,334,875 $2,115,193,513
1989 $3,175,638,333 $2,013,448,229
1988 $3,189,456,965 $1,541,088,312
1987 $3,212,900,556 $1,562,448,077
1986 $4,347,989,788 $1,582,873,750
1985 $3,802,557,895 $1,478,908,173
1984 $3,905,938,481 $1,304,063,253
1983 $4,686,457,031 $1,381,573,615
1982 $4,784,977,326 $1,481,165,468
1981 $4,759,333,998 $1,111,000,765
1980 $5,201,818,348 $1,038,225,167
1979 $3,463,565,854 $952,265,043
1978 $2,669,755,115 $935,408,775
1977 $2,358,930,406 $873,579,932
1976 $2,181,844,179 $1,204,699,849
1975 $2,283,049,215 $1,061,107,354
1974 $1,917,508,190 $1,225,589,878
1973 $1,653,062,335 $719,754,655
1972 $1,341,590,690 $662,213,083
1971 $1,199,507,631 $587,448,405
1970 $1,111,859,571 $563,555,631
1969 $1,056,391,056 $571,854,215
1968 $1,031,669,637 $559,956,130
1967 $956,436,932 $420,359,036
1966 $900,264,585 $293,103,479
1965 $833,563,473 $367,053,117
1964 $802,482,184 $411,419,906
1963 $759,345,864 $598,998,419
1962 $739,286,908 $634,528,872
1961 $699,161,945 $605,581,577
1960 $673,081,725 $545,098,448

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

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

GDP per capita in Madagascar vs Myanmar by year

Madagascar
GDP per capita

GDP per capita, PPP
Myanmar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Madagascar Myanmar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $545 $1,884 $1,359 $5,997
2023 $509 $1,808 $1,233 $5,953
2022 $504 $1,717 $1,158 $5,732
2021 $483 $1,577 $1,243 $5,178
2020 $451 $1,490 $1,490 $5,741
2019 $500 $1,612 $1,426 $6,101
2018 $500 $1,547 $1,298 $5,581
2017 $492 $1,547 $1,273 $4,706
2016 $454 $1,562 $1,229 $4,460
2015 $445 $1,497 $1,167 $4,459
2014 $506 $1,499 $1,293 $4,376
2013 $515 $1,473 $1,199 $4,144
2012 $494 $1,464 $1,203 $3,845
2011 $506 $1,475 $1,214 $3,579
2010 $450 $1,464 $1,011 $3,348
2009 $446 $1,480 $758 $3,040
2008 $513 $1,577 $658 $2,748
2007 $420 $1,493 $419 $2,459
2006 $324 $1,416 $303 $2,153
2005 $306 $1,343 $252.7 $1,860
2004 $272.2 $1,280 $224.5 $1,601
2003 $353 $1,219 $224.3 $1,385
2002 $305 $1,121 $146.6 $1,204
2001 $319 $1,299 $141.5 $1,069
2000 $280.3 $1,236 $196.6 $949
1999 $267.4 $1,194 $189.5 $825
1998 $284.2 $1,162 $146 $742
1997 $284.4 $1,142 $108 $702
1996 $340 $1,119 $141.9 $661
1995 $273.1 $1,111 $124.1 $618
1994 $258.7 $1,104 $105.4 $573
1993 $308 $1,116 $76.2 $529
1992 $290.2 $1,101 $58.9 $494
1991 $262 $1,096 $51.2 $447
1990 $326 $1,166 $53.1 $441
1989 $271.3 - $51.3 -
1988 $280.5 - $39.9 -
1987 $290.8 - $41.1 -
1986 $405 - $42.4 -
1985 $364 - $40.4 -
1984 $385 - $36.3 -
1983 $476 - $39.3 -
1982 $501 - $43 -
1981 $513 - $32.8 -
1980 $578 - $31.2 -
1979 $396 - $29.2 -
1978 $315 - $29.3 -
1977 $286.9 - $27.9 -
1976 $273.5 - $39.2 -
1975 $295 - $35.2 -
1974 $255.3 - $41.4 -
1973 $226.8 - $24.8 -
1972 $189.6 - $23.3 -
1971 $174.6 - $21.1 -
1970 $166.6 - $20.7 -
1969 $162.9 - $21.5 -
1968 $163.6 - $21.5 -
1967 $155.9 - $16.5 -
1966 $150.7 - $11.8 -
1965 $143.2 - $15.1 -
1964 $141.5 - $17.3 -
1963 $137.4 - $25.8 -
1962 $137.3 - $27.9 -
1961 $133.3 - $27.3 -
1960 $131.7 - $25.1 -

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

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

Madagascar's GDP per capita is $545, ranking 193/197, compared to $1,359 in Myanmar, ranking 165/197. Adjusted for purchasing power (GDP per capita PPP), Madagascar ranks 187th at $1,884, while Myanmar ranks 153rd at $5,997.

Economic indicators

Madagascar Myanmar
Gross domestic product
$17.4B
2024
$74.1B
2024
GDP rank
136/197
2024
85/197
2024
GDP growth
4.2%
2023-2024
-0.97%
2023-2024
GDP per capita
$545
2024
$1,359
2024
GDP per capita rank
193/197
2024
165/197
2024
GDP per capita, PPP
$1,884
2024
$5,997
2024
GDP per capita PPP rank
187/197
2024
153/197
2024
Government debt
$8.77B
2024
$44B
2024
Debt-to-GDP ratio
50.3%
2024
59.3%
2024
Government debt per person
$274.3
2024
$806
2024
Government debt per person rank
180/185
2024
150/185
2024
Average annual personal income after taxes
$1,268
2026
$1,646
2026
Income share by richest 10%
29.6%
2021
25.5%
2017
Income share by poorest 10%
2.9%
2021
3.8%
2017
Government expenditure, % of GDP
16.2%
2024
20.7%
2024
Consumer prices inflation
9.87%
2022-2023
8.83%
2018-2019
Unemployment rate
3.19%
2022
1.48%
2020
Population
33750171
55292116

Spending and national debt comparison by year

Madagascar
Spending

Debt
Myanmar
Spending

Debt
1x
Year % of GDP
Madagascar Myanmar
Government spending Government debt Government spending Government debt
2024 16.2% 50.3% 20.7% 59.3%
2023 17.9% 52.7% 21.4% 59.1%
2022 16.2% 49.9% 21.3% 56.1%
2021 13.9% 49.4% 20.9% 63.4%
2020 16.4% 52.9% 21.3% 49.1%
2019 15.4% 41.3% 20.5% 37.6%
2018 14.4% 42.9% 18.7% 39.9%
2017 14.9% 40.1% 19.7% 41.9%
2016 13.5% 40.3% 21.3% 35.7%
2015 13% 44.1% 23.7% 36.6%
2014 12.6% 37.8% 24.7% 34.5%
2013 12.7% 36.2% 23.9% 44.8%
2012 11.5% 30.4% 20% 48%
2011 12% 29.9% 15.6% 49.9%
2010 12.3% 32.3% 15.8% 54.4%
2009 12.5% 34.9% 14.4% 56.4%
2008 15.7% 31% 14.4% 59.8%
2007 16.1% 28.2% 15.7% 77.4%
2006 18.5% 32.2% 15.6% 103.1%
2005 18.4% 74.4% 14.6% 119%
2004 21.7% 81.9% 14.6% 126.6%
2003 16.6% 85.9% 14.3% 146%
2002 12.4% 86.7% 15.3% 190.6%
2001 15.3% 82.1% 19.1% 262%
2000 15.3% 90.2% 21.4% 164.5%
1999 15.5% 104.1% 22.8% 150.7%
1998 16.9% 108.5% 25.2% 208.6%
1997 14.5% 89.7% - -
1996 14.4% 98.7% - -
1995 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 (1980–1989, retrieved 2026-02-20).

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

In 2024, Madagascar's government spending was $2.82B, accounting for 16.2% of its GDP, while Myanmar spent $15.3B, or 20.7% of GDP.

Debt-to-GDP ratio is 50.3% in Madagascar and 59.3% in Myanmar, ranking 106/185 and 81/185, respectively.

Government deficit by year

Deficit/surplus
Madagascar

Myanmar
1x
Year Deficit/surplus, % of GDP
Madagascar Myanmar
2024 -2.48% -5.06%
2023 -4.19% -5.18%
2022 -5.46% -2.82%
2021 -2.83% -2.47%
2020 -3.96% -6.5%
2019 -1.42% -4.7%
2018 -1.34% -2.77%
2017 -2.1% -3.42%
2016 -1.11% -2.53%
2015 -2.85% -4.33%
2014 -1.96% -1.06%
2013 -3.4% -1.53%
2012 -2.24% -2.7%
2011 -2.04% -4.82%
2010 -0.76% -5.4%
2009 -2.26% -3.55%
2008 -1.72% -2.73%
2007 -2.31% -3.52%
2006 -5.71% -3.42%
2005 -2.47% -3.49%
2004 -4.23% -4.62%
2003 -3.32% -4.24%
2002 -4.09% -4.01%
2001 -3.61% -6.34%
2000 -2.35% -6.03%
1999 -2.42% -4.46%
1998 -5.31% -4.89%
1997 -2% -
1996 -3.97% -
1995 -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/madagascar/myanmar | CC BY

In 2024, Madagascar's government deficit, the difference between spending and revenue, was $432M, equivalent to 2.48% of GDP. This compares to Myanmar's deficit of $3.75B, or 5.06% of GDP.

Over the past 27 years, Madagascar recorded a fiscal deficit in 27 of those years, while Myanmar ran a deficit in 27 years. On average, Madagascar posted an annual deficit equal to 2.89% of GDP, compared to deficit of 3.95% of GDP for Myanmar.

Inflation comparison by year

Inflation
Madagascar

Myanmar
1x
Year Consumer prices inflation
Madagascar Myanmar
2023 9.87% -
2022 8.16% -
2021 5.81% -
2020 4.2% -
2019 5.61% 8.83%
2018 8.59% 6.87%
2017 8.61% 4.57%
2016 6.04% 6.93%
2015 7.4% 9.45%
2014 6.08% 4.95%
2013 5.83% 5.64%
2012 5.71% 1.47%
2011 9.48% 5.02%
2010 9.25% 7.72%
2009 8.95% 1.47%
2008 9.3% 26.8%
2007 10.3% 35%
2006 10.8% 20%
2005 18.4% 9.37%
2004 14% 4.53%
2003 -1.7% 36.6%
2002 16.5% 57.1%
2001 7.92% 21.1%
2000 11.9% -0.11%
1999 9.93% 18.4%
1998 6.21% 51.5%
1997 4.49% 29.7%

Data sources: World Bank | Economy & Growth (1997–2023, retrieved 2026-04-06).

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

Over the past 23 years, Madagascar has recorded an average annual inflation rate of 8.67%, compared with 16.2% in Myanmar. In 2019, inflation was 9.87% in Madagascar and 8.83% in Myanmar.

Top exports between countries

Madagascar
Export category Export value
Raw agricultural goods $253K
Miscellaneous $3K
Myanmar
Export category Export value
Raw agricultural goods $3.07M
Textiles & consumer goods $48K
Processed food, beverages & tobacco $24K
Machinery & equipment $5K
Miscellaneous $2K

Balance of trade

Madagascar Myanmar
Current account balance
-$829M
2022
$67.7M
2019
Current account balance ranking
119/190
2022
71/190
2019
Current account balance, % of GDP
-5.41%
2022
+0.09%
2019
Goods imports
$4.52B
2022
$13.7B
2019
Goods exports
$3.55B
2022
$10.8B
2019
Service imports
$1.52B
2022
$3.66B
2019
Service exports
$1.14B
2022
$6.68B
2019
Imports of goods and services, % of GDP
31.7%
2024
n/a
Exports of goods and services, % of GDP
23.3%
2024
24.3%
2025

Economic freedom indices

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

Madagascar Myanmar
Economic freedom 57 44.5
Economic freedom ranking 119/197 180/197
Property rights 39.8 5.7
Government integrity 26.8 18.1
Judicial effectiveness 33.7 3.9
Tax burden 90.5 88.6
Government spending 91.5 86.6
Fiscal health 68.8 62.7
Business freedom 37.3 37.9
Labor freedom 56.1 53.2
Monetary freedom 71.8 57.5
Trade freedom 67.6 69.4
Investment freedom 50 30
Financial freedom 50 20

Economic freedom comparison by year

Madagascar
Myanmar
1x
Year Economic freedom index
Madagascar Myanmar
2026 57 44.5
2025 57 43.7
2024 57.3 42.2
2023 58.9 46.5
2022 58.9 49.6
2021 57.7 55.2
2020 60.5 54
2019 56.6 53.6
2018 56.8 53.9
2017 57.4 52.5
2016 61.1 48.7
2015 61.7 46.9
2014 61.7 46.5
2013 62 39.2
2012 62.4 38.7
2011 61.2 37.8
2010 63.2 36.7
2009 62.2 37.7
2008 62.4 39.5
2007 61.1 41
2006 61 40
2005 63.1 40.5
2004 60.9 43.6
2003 62.8 44.9
2002 56.8 45.5
2001 53.9 46.1
2000 54.4 47.9
1999 52.8 46.4
1998 51.8 45.7
1997 53.8 45.4
1996 52.2 45.1
1995 51.6 -

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

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

The Economic Freedom Index for Madagascar is 57, ranking 119/197, compared to 44.5 for Myanmar, ranking 180/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Madagascar Myanmar
Services, % of GDP
47.7%
2024
41.4%
2024
Industry, % of GDP
22.8%
2024
37.8%
2024
Agriculture, forestry, and fishing, % of GDP
22.5%
2024
20.8%
2024
GNI, Atlas method
$16.4B
2024
$65.9B
2024
GNI per capita, PPP
$1,830
2024
$5,890
2024
Total reserves including gold
$2.78B
2024
$9.34B
2023
Total reserves ranking
120/177
2024
81/177
2023
Net foreign direct investment
-$326M
2022
-$1.74B
2019
Net inflows of foreign direct investment
$606M
2024
$1.1B
2024
Net outflows of foreign direct investment
$134M
2024
$0
2024
Servicing debt to the IMF, % of GNI
1.72%
2024
1.31%
2024
Poverty at national poverty lines
75.2%
2021
24.8%
2017
Gross capital formation, % of GDP
22.2%
2024
n/a

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/madagascar/myanmar | 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 (1980–1989, 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.