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    Madagascar

    Extended
    Africa · #104 of 117 markets · IEPA 2024 (final) · 2026 current estimate available
    32.7▼ -0.6 YoY
    ●●○0.79IEPA COMPOSITE

    Madagascar scores 32.7 out of 100 on the IEPA (2024 edition), ranking #104 of 117 economies. That is down 0.6 points on the year before. Its strongest zone is FDI Accelerator at 47.4. Its binding constraint, the lowest-scoring of its six zones, is Entrepreneurship Capacity at 7.0. How the IEPA works →

    SIX FACTORS · CLICK ANY SCORE FOR ITS EVIDENCE
    IEPA TRAJECTORY · 2010–2026
    2010201220142016201820202022202420262432404856
    CAPITAL FLOWS · FDI NET INFLOWS % OF GDP
    20102011201220132014201520162017201820192020202120222024036912
    IE FDI intelligence · synced weekly
    PRODUCTIVE CAPABILITY
    IE COMPLEXITY LAYER · VINTAGE 2024
    #119of 145 ranked economies▼ 1 place since 2010
    How much productive know-how this market has demonstrated, read from the range and rarity of what it makes competitively.
    201020112012201320142015201620172018201920202021202220232024117122127135
    CAPABILITY RANK · HIGHER IS BETTER
    2.44% / yr
    Implied growth
    Annual growth the current capability base points to.
    142
    Diversity
    Distinct products made at competitive scale.
    -1.03
    Capability score
    Standardized: 0 is the world average.
    -0.51
    Outlook
    Value of the new products within reach of what it already does.
    INDUSTRY STRENGTHS · REVEALED FROM TRADE EVIDENCE
    VINTAGE 2022-2024
    POSITION IN THE PRODUCT SPACE
    IE COMPLEXITY LAYER · VINTAGE 2024
    Textile Apparel and Accessories31 of 50 made · 63% of the rest within reach
    Minerals8 of 48 made · 30% of the rest within reach
    Agriculture18 of 200 made · 27% of the rest within reach
    Textile and Home Goods6 of 78 made · 26% of the rest within reach
    Industrial Chemicals and Metals7 of 157 made · 18% of the rest within reach
    Construction, Building, and Home Supplies2 of 104 made · 10% of the rest within reach
    Metalworking and Electrical Machinery and Parts1 of 155 made · 3% of the rest within reach
    Electronic and Electrical Goods1 of 73 made · 7% of the rest within reach
    MADE COMPETITIVELYONE STEP AWAY
    Metalworking and Electrical Machinery and Parts is the furthest: 1% made, and only 3% of the rest is within one step. A move there means building capability rather than extending it.
    READ ON THE 74 OF 142 COMPETITIVE PRODUCTS THAT CARRY A POSITION IN THE CAPABILITY MAP
    POSITIONED TO BUILD NEXT
    IE COMPLEXITY LAYER · VINTAGE 2024
    Other footwear of rubber or plastics$42B world market
    Textiles, Apparel & LeatherOPENS 0.14 · COMPLEXITY -0.64
    Womens overcoats, not knit$19B world market
    Textiles, Apparel & LeatherOPENS 0.14 · COMPLEXITY -0.42
    Leather footwear$53B world market
    Textiles, Apparel & LeatherOPENS 0.14 · COMPLEXITY -0.19
    Other furnishing articles$5B world market
    Textiles, Apparel & LeatherOPENS 0.12 · COMPLEXITY -0.49
    Leather apparel$7B world market
    Textiles, Apparel & LeatherOPENS 0.12 · COMPLEXITY -0.26
    Socks, stockings, etc., knit$14B world market
    Textiles, Apparel & LeatherOPENS 0.11 · COMPLEXITY -0.43
    THE NEAREST OPTIONS AMONG 427 PRODUCTS ASSESSED · RANKED BY HOW MUCH EACH OPENS UP NEXT
    LIVE SIGNALS
    From 1 May, China’s zero-tariff regime on Malagasy exports puts logistics under the spotlight - Capmad
    Google News · Madagascar · Economy & Policy · Oct 9 · Economic Policy
    “Vita Malagasy”: Malagasy businesses eye the Chinese market - Capmad
    Google News · Madagascar · Economy & Policy · Oct 8 · Economic Policy
    Madagascar: Three Infrastructure Projects Presented to AIIB - Capmad
    Google News · Madagascar · Economy & Policy · Oct 7 · Economic Policy
    Cloves Market Overview - Market Growth Reports
    Google News · Madagascar · FDI & Investment · Sep 17 · FDI
    PEERS · EXTENDED
    🇪🇹Ethiopia33.5→🇻🇪Venezuela34.0→🇲🇿Mozambique34.0→🇩🇿Algeria32.7→
    ECOSYSTEM DENSITY
    IE Ecosystem Registry · 2026-06-27
    36organizations indexed across 5 types · 35 mapped
    Universities & research bodies
    19
    Research organizations
    9
    Government bodies
    5
    Fab labs & makerspaces
    2
    SEZ authorities
    1
    Universities, corporate R&D, government bodies, incubators, accelerators, science parks, and special economic zones, indexed today.Explore the directory →
    ORGANIZATIONS
    a sample of 36 indexed
    Ehoala Park
    SEZ authorities · Antananarivo · 2015
    National Application Center for Pharmaceutical Research
    Universities & research bodies · Antananarivo · 1976
    Université de Mahajanga
    Universities & research bodies · Mahajanga · 1977
    Akbaraly Foundation
    Research organizations · Antananarivo · 2008
    Institute Malgache De Recherches Appliquées
    Research organizations · Antananarivo · 1998
    Fablab Y'LO Ankatso - Antananarivo, Madagasikara
    Fab labs & makerspaces · Antananarivo
    Centre National de Recherches sur l'Environnement
    Government bodies · Antananarivo · 1989
    FabLab Solidaire Mamiratra
    Fab labs & makerspaces · Antananarivo
    Members get the full directory, filters, and exports.See all 36 organizations →

    Madagascar: common questions

    What is Madagascar's IEPA score?
    Madagascar scores 32.7 out of 100 on the IEPA, 2024 edition, which ranks it #104 of 117 economies.
    What is Madagascar's strongest zone?
    FDI Accelerator, at 47.4. The six zones are scored separately, so a market's strengths stay visible instead of being averaged away.
    What is holding Madagascar back?
    Its binding constraint is Entrepreneurship Capacity, at 7.0, the lowest of its six zones. The IEPA reports every zone separately so the constraint stays visible instead of being averaged into the composite.
    How does Madagascar compare with its peers?
    The closest scored peers are Ethiopia (33.5), Venezuela (34.0), Mozambique (34.0), Algeria (32.7).
    What is the IEPA?
    The Innovation Ecosystem Prosperity Assessment (IEPA) scores economies across six zones: innovation capacity, entrepreneurship capacity, resilience, alignment, the FDI accelerator, and prosperity outcomes. Every score carries a confidence band and traces to the evidence behind it.
    Run the full diagnostic →Talk to IE about Madagascar →