Total reserves (% of total external debt) in Madagascar
Madagascar: Total reserves (% of total external debt) was 41.9% in 2024. ◆ Volatile
Total reserves in Madagascar, 1971–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of total external debt.
Analysis
In 2024, total reserves in Madagascar stood at 41.9%.
That represents a change of up 2.2% on the previous year and up 60.3% over ten years.
Over the whole period, total reserves in Madagascar peaked at 47.3% in 2017 and was at its lowest, 0.7%, in 1979.
Madagascar ranks 45th of 112 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total reserves (% of total external debt) in Madagascar, year by year
| Year | % of total external debt | Change |
|---|---|---|
| 1971 | 9.5% | — |
| 1972 | 10.2% | +7.9% |
| 1973 | 13.4% | +31.3% |
| 1974 | 6.6% | -51.1% |
| 1975 | 4.5% | -31.7% |
| 1976 | 22.2% | +393.5% |
| 1977 | 8.8% | -60.3% |
| 1978 | 16.6% | +88.7% |
| 1979 | 0.7% | -96.1% |
| 1980 | 0.7% | +11.8% |
| 1981 | 1.6% | +125.5% |
| 1982 | 1.0% | -37.2% |
| 1983 | 1.4% | +38.7% |
| 1984 | 2.7% | +91.6% |
| 1985 | 1.9% | -30.2% |
| 1986 | 3.8% | +98.8% |
| 1987 | 5.0% | +32.0% |
| 1988 | 6.1% | +20.8% |
| 1989 | 7.1% | +17.7% |
| 1990 | 2.5% | -65.2% |
| 1991 | 2.3% | -8.6% |
| 1992 | 2.2% | -5.1% |
| 1993 | 2.1% | -1.8% |
| 1994 | 1.7% | -17.5% |
| 1995 | 2.5% | +44.2% |
| 1996 | 5.8% | +130.5% |
| 1997 | 6.9% | +18.0% |
| 1998 | 3.9% | -43.1% |
| 1999 | 4.8% | +21.8% |
| 2000 | 6.0% | +27.0% |
| 2001 | 9.5% | +57.8% |
| 2002 | 8.0% | -16.0% |
| 2003 | 8.3% | +4.1% |
| 2004 | 13.2% | +58.2% |
| 2005 | 13.7% | +3.7% |
| 2006 | 38.2% | +179.8% |
| 2007 | 36.3% | -4.9% |
| 2008 | 38.8% | +6.8% |
| 2009 | 34.5% | -11.0% |
| 2010 | 37.1% | +7.6% |
| 2011 | 39.6% | +6.6% |
| 2012 | 35.2% | -11.1% |
| 2013 | 26.4% | -25.0% |
| 2014 | 26.1% | -1.1% |
| 2015 | 27.7% | +5.9% |
| 2016 | 39.8% | +43.8% |
| 2017 | 47.3% | +19.0% |
| 2018 | 46.8% | -1.1% |
| 2019 | 41.9% | -10.5% |
| 2020 | 40.9% | -2.3% |
| 2021 | 43.7% | +6.8% |
| 2022 | 36.4% | -16.7% |
| 2023 | 40.9% | +12.5% |
| 2024 | 41.9% | +2.2% |
Madagascar compared with similar countries
- Madagascar's 41.9% is above the median for low income countries, which is 18.5%, 2.3× the median. (18 countries reporting)
- Madagascar's 41.9% is above the median for Sub-Saharan Africa, which is 23.9%, 1.8× the median. (36 countries reporting)
Biggest year-on-year movements
Years where Total reserves (% of total external debt) in Madagascar changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1976 | +393.5% | 4.5% | 22.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.3% | 0.7% | 22.2% | 9 |
| 1980s | 3.2% | 0.7% | 7.1% | 10 |
| 1990s | 3.5% | 1.7% | 6.9% | 10 |
| 2000s | 20.6% | 6.0% | 38.8% | 10 |
| 2010s | 36.8% | 26.1% | 47.3% | 10 |
| 2020s | 40.8% | 36.4% | 43.7% | 5 |
Countries ranked near Madagascar
- 42 Eswatini 43.3% compare
- 43 Mauritania 42.6% compare
- 44 Democratic Republic of Congo 42.5% compare
- 46 Mauritius 41.8% compare
- 47 Fiji 41.3% compare
- 48 North Macedonia 40.9% compare
More financial sector data for Madagascar
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.28 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.9354 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.28 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is total reserves in Madagascar?
- Total reserves in Madagascar was 41.9% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest total reserves recorded in Madagascar?
- The highest recorded value was 47.3% in 2017.
- What is the lowest total reserves recorded in Madagascar?
- The lowest recorded value was 0.7% in 1979.
- How does Madagascar rank for total reserves?
- Madagascar ranks 45th out of 112 countries with data for 2024.
- Is total reserves rising or falling in Madagascar?
- Over the last ten years it is up 60.3%. The long-run trend across the full record is volatile.
- Where does this Madagascar data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of Total reserves (% of total external debt). Statizoid updates them automatically from the source API.
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About this data
Reserve assets are external assets, including monetary gold, that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and for other related purposes (such as maintaining confidence in the currency and the economy, and serving as a basis for foreign borrowing). Reserve assets must be denominated and settled in foreign currency. This indicator is expressed as a percentage of total external debt which are all liabilities that require payment(s) of interest and/or principal by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy.