How does Madagascar earn income?
According to CIA figures, in 2002 27.4% of Madagascar's GDP came from agriculture, 12.8% from industry, and 59.8% from services. Madagascar exports coffee, vanilla, sugar, cloves, Ylang-Ylang oil (from Cananga odorata); livestock products; textiles; seafood products (including shark-fins); exotic pets (reptiles and amphibians); minerals and gemstones.
In 2002 39% of exports went to France, nearly 20% to the U.S., and 5.5% to Germany. Lesser trade parters include Japan and Singapore.
In 2003 Malagasy exports were worth about $700 million and the country's trade deficit was around $220 million.
As of 2002 Madagascar's external debt was $4.6 billion, while its GDP ( as measured by purchasing power parity) was around 12.2 billion.
Tourism, garment production, and oil and mineral extraction are key industries for Madagascar's future economic growth.