Madagascar Business
• Main exports: Coffee, vanilla, shellfish, sugar and cotton.
• Main imports: Capital goods, petroleum, consumer goods and food.
• Main trade partners: France, USA, China, Mauritius and Germany.
Economy
Madagascar has appreciable mineral deposits which are being exploited, whilst the manufacturing industry, mainly textiles and food processing, accounts for 15% of GDP.
The economy grew by 4.7% in 2006, with inflation at 10.8%. The country continues to rely heavily on loans and grants. In 2005, Madagascar became the first state to receive development aid from the US under a scheme to reward nations that Washington considers to be promoting democracy and market reforms.
Exports of apparel have boomed in recent years primarily due to duty-free access to the US.
Poverty reduction and combating corruption will be the centerpieces of economic policy for the next few years.
Business Etiquette
Office hours: Mon-Fri 0930-1700/1800.
Business Contacts
20 Rue Henri Razanatseheno, Antaninarenina, Antananarivo 101, BP 166, Madagascar
Tel: (20) 222 0211.
Website: www.tana-cciaa.org
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