Part 510

Diplomatic representation in the US: chief of mission: Ambassador Pierrot Jocelyn RAJAONARIVELO chancery: 2374 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 265-5525, 5526 consulate(s) general: New York

Diplomatic representation from the US: chief of mission: Ambassador Vicki J. HUDDLESTON embassy : 14-16 Rue Rainitovo, Antsahavola, Antananarivo mailing address: B. P. 620, Antananarivo telephone: (2) 212-57, 200-89, 207-18 FAX: (2) 234-539

Flag description: two equal horizontal bands of red (top) and green with a vertical white band of the same width on hoist side

Economy

Economy - overview: Madagascar suffers from chronic malnutrition, underfunded health and education facilities, a roughly 3% annual population growth rate, and severe loss of forest cover, accompanied by erosion. Agriculture, including fishing and forestry, is the mainstay of the economy, accounting for 33% of GDP and contributing more than 70% to export earnings. Industry features the processing of agricultural products and textile manufacturing. Growth in output in 1992-95 averaged only 1.4%, less than half the growth rate of the population. Growth has been held back by antigovernment strikes and demonstrations, a decline in world coffee demand, and the erratic commitment of the government to economic reform. Formidable obstacles stand in the way of Madagascar's realizing its considerable growth potential; the extent of government reforms, outside financial aid, and foreign investment will be key determinants.

GDP: purchasing power parity - $12.1 billion (1996 est.)

GDP - real growth rate: 3.5% (1996 est.)

GDP - per capita: purchasing power parity - $880 (1996 est.)

GDP - composition by sector: agriculture : 33% industry: 15% services: 52% (1996 est.)

Inflation rate - consumer price index: 47% (1995 est.)

Labor force: total: 4.9 million by occupation : agriculture 45,500, domestic service 29,750, industry 26,250, commerce 24,500, construction 19,250, service 15,750, transportation 10,500, other 3,500 (1985 est.) note: 175,000 workers (3.6% of the total work force) earn money wages; 4,725,000 workers receive no monetary wage (of these, 91% are engaged in subsistence agriculture)

Unemployment rate: NA%

Budget: revenues : $250 million expenditures: $265 million, including capital expenditures of $180 million (1991 est.)

Industries: meat processing, soap, breweries, tanneries, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum, tourism

Industrial production growth rate: 3.8% (1993 est.)

Electricity - capacity: 208,000 kW (1991)

Electricity - production: 450 million kWh (1991)

Electricity - consumption per capita: 36 kWh (1992)

Agriculture - products: coffee, vanilla, sugarcane, cloves, cocoa, rice, cassava (tapioca), beans, bananas, peanuts; livestock products

Exports: total value: $493 million (f.o.b., 1996 est.) commodities: coffee 45%, vanilla 20%, cloves, shellfish, sugar, petroleum products (1995 est.) partners : France 41%, US, Japan, Italy (1995)

Imports: total value: $612 million (f.o.b., 1996 est.) commodities : intermediate manufactures 30%, capital goods 28%, petroleum 15%, consumer goods 14%, food 13% (1995 est.) partners: France 40%, Japan, Hong Kong, Singapore, US (1995)

Debt - external: $4.4 billion (1996 est.)

Economic aid: recipient: ODA, $454 million (1992-96)

Currency: 1 Malagasy franc (FMG) = 100 centimes

Exchange rates: Malagasy francs (FMG) per US$1 - 3,950 (November 1996), 3,974.9 (August 1996), 4,265.6 (1995), 3,067.3 (1994), 1,913.8 (1993), 1,864.0 (1992)

Fiscal year: calendar year

@Madagascar:Communications

Telephones: 96,000 (1988 est.)