Madagascar

C

Mining and Manufacturing

Mineral products of Madagascar include chromite, mica, graphite, salt, and various gemstones. Food processing (meat packing, brewing, and sugar refining) is the leading manufacturing industry. Other manufactures include refined petroleum, textiles, soap, cement, cigarettes, and paper.

D

Energy

Madagascar’s people rely on traditional fuels such as wood and charcoal for 84 percent (1997) of their energy needs. In 2003 Madagascar produced 825 million kilowatt-hours of electricity. Some 66 percent of all electricity is produced in hydroelectric facilities.

E

Foreign Trade

Madagascar usually has a negative trade balance. In 2003 imports were valued at $1,091 million and exports at $766 million. Foods such as coffee, cloves, vanilla, fruit, and shrimp accounted for 55 percent of export revenue in 2003. Other important exports were fabrics, gemstones, chromite, and refined petroleum. Leading imports were petroleum, foodstuffs, chemical products, machinery, vehicles and vehicle parts, and electrical equipment. France is by far the leading trading partner, accounting for about one-quarter of Madagascar’s trading activity. Other significant purchasers of the country’s exports are the United States, Singapore, Germany, and Mauritius; chief sources of imports in addition to France are the United Arab Emirates, Bahrain, China, and South Africa.

F

Currency and Banking

The Malagasy franc, divided into 100 centimes, is the currency unit (2,003 Malagasy francs equal U.S.$1; 2005 average). The Central Bank of Madagascar (founded 1973) is the bank of issue. All banks were nationalized in 1975 but reopened to private and foreign investment beginning in the late 1980s.

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G

Transportation

Antananarivo is the main hub of Madagascar’s limited transportation system. Only about 12 percent (1999) of the country’s roads are paved. Toamasina, the chief port, handles about 70 percent of the nation’s foreign trade. Other port cities are Mahajanga, Toliara, and Antsiraana. Madagascar has four major airports, including the international airport at Antananarivo. Air Madagascar is the national airline.

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