Madagascar: Reserves

* indicates monthly or quarterly data series
 Madagascar

Foreign exchange reserves including gold, billion USD

 Latest value 2.63
 Year 2023
 Measure billion U.S. dollars
 Data availability 1962 - 2023
 Average 0.48
 Min - Max 0.01 - 2.63
 Source The World Bank
The latest value from 2023 is 2.63 billion U.S. dollars, an increase from 2.16 billion U.S. dollars in 2022. In comparison, the world average is 107.34 billion U.S. dollars, based on data from 135 countries. Historically, the average for Madagascar from 1962 to 2023 is 0.48 billion U.S. dollars. The minimum value, 0.01 billion U.S. dollars, was reached in 1979 while the maximum of 2.63 billion U.S. dollars was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Madagascar - Reserves - Recent values chart

Historical series
Madagascar - Reserves - historical chart - 1962-2023




The reserves of Madagascar and other countries include their holdings of foreign currencies and gold. These are the reserves of the central bank and the treasury of the country, not the private sector.

When countries export products or attract investment from other countries, they receive foreign currencies. They use some of these currencies to buy imports and to invest in other countries. The rest is held in reserves and some of the reserves may be converted to gold.
Definition: Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

All articles



 Related indicators Latest Reference Measure
 Terms of trade 81.81 2021 percent
 Trade openness 71.59 2023 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 32.53 2023 percent
 Exports, billion dollars 5.22 2023 billion U.S. dollars
 Growth of exports 3.35 2023 percent
 Imports, percent of GDP 39.06 2023 percent
 Imports, billion dollars 6.26 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 2.59 2023 percent
 Foreign Direct Investment, billion dollars 0.47 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.00 2022 million dollars (current)
 Current account, percent of GDP -4.50 2023 percent
 Current account, in dollars -0.83 2022 billion U.S. dollars
 Trade balance, percent of GDP -6.53 2023 percent
 Trade balance, in dollars -1.35 2022 billion U.S. dollars
 Reserves 2.63 2023 billion U.S. dollars
 Remittances, percent of GDP 2.37 2023 percent
 Remittances 380.00 2023 million U.S. dollars
 Net errors and omissions -24.57 2022 million USD
 External debt 39.91 2022 percent
 Short-term external debt 3.03 2022 percent
 Short-term debt to reserves 8.32 2022 percent
 Foreign exchange reserves 2.65 8/2024 billion
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