Which country is Madagascar’s biggest exporter?
The country is one of the world’s most populous countries and the fourth-largest economy in the world, but its exports have been lagging behind.
The economy has lagged behind the rest of the continent for years, even though the country is also one of its poorest, suffering from a chronic lack of infrastructure and a long history of conflict.
The country’s largest exports are sugar, meat and meat products, which account for around one third of its exports.
The world’s biggest sugar producer, Ethiopia, has also been struggling to compete, with its exports down 20% this year compared with 2015.
But Madagascar’s export boom has been fuelled by a boom in its sugar industry.
Maggie McPherson, an economist at the Australian National University, said the boom had fuelled the country’s rapid economic expansion.
“It’s the single biggest reason why we have such an incredible economic boom, because the boom has pushed up the price of sugar,” she said.
“There’s just so much of it.”
The sugar boom has also boosted exports to other African countries, especially Ethiopia, and to India.
“We’re exporting to India and we’re exporting [to] other Asian countries, like China, and all those other markets that are going through an industrial revolution,” Ms McPhearson said.
Makassar is one small island nation in the Malagasy archipelago, which includes the islands of Madagascar and the western coast of Africa.
“The main thing we need is to create the kind of environment where we can have a large and fast-growing economy that can provide for the needs of the population and be able to feed itself,” Ms McKheassey said.
The economic boom has seen a number of countries boost their trade with the Malabar island nation.
The United States, which is a major supplier of sugar to Madagascar, has signed a deal to buy an additional 100,000 tonnes of sugar.
Malagasy leaders are trying to diversify away from the sugar boom.
The Malabars say they want to export more goods, not just sugar, but that also means more jobs.
“Maggies is very important because we’re not a commodity like some other countries, but we are a good value for our money,” Ms Kondre said.
Topics:economics-and-finance,finance-and ofcom,malaysiaFirst posted November 01, 2019 08:01:28Contact Karen LentonMore stories from New South Wales