Madagascar Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Madagascar's credit to gdp was 17.25% in 2025, ranked 126th globally. This represents a 3.6% increase from 2024. Data from World Bank, covering 1962–2025.
Overview
Madagascar's credit to gdp stood at 17.25% in 2025, a rise of +0.60% from 2024. Based on recent trends, this figure is projected to reach 17.25% by 2025. Madagascar ranked 126th globally.
Madagascar’s credit‑to‑GDP ratio has risen modestly over the 64‑year series, moving from 13.09 in 1962 to a peak of 18.64 in 2022 before slipping to 17.25 in 2025, placing the country 126th in the world. The trough of 6.66 in 2002 marked a sharp contraction of external borrowing during a period of fiscal stress, after which the ratio recovered steadily, reflecting expanded access to international capital markets and gradual improvements in fiscal management. By comparison, Tanzania’s ratio of 18.36 and Mozambique’s 15.63 illustrate that Madagascar’s current level is broadly aligned with its regional peers, though still below the Comoros’ 19.49. The post‑peak decline to 17.25 suggests a modest pullback in borrowing, possibly linked to tighter debt‑service constraints and a shift toward domestic financing. Continued reforms in public‑financial management and stronger export performance could sustain a gradual upward trajectory, while adverse external shocks would likely reverse the recent moderation.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 17.19% | - | - |
| 2026* trend | 17.22% | - | - |
| 2025* trend | 17.25% | - | - |
| 2025 | 17.25% | +0.60% | #126 |
| 2024 | 16.64% | −0.47% | #13 |
| 2023 | 17.11% | −1.53% | #25 |
| 2022 | 18.64% | +0.79% | #34 |
| 2021 | 17.85% | +1.44% | #34 |
| 2020 | 16.42% | +2.20% | #32 |
| 2019 | 14.21% | +1.24% | #27 |
| 2018 | 12.97% | +0.26% | #20 |
| 2017 | 12.71% | +0.82% | #17 |
| 2016 | 11.89% | −0.42% | #14 |
| 2015 | 12.31% | +0.64% | #15 |
| 2014 | 11.67% | +0.58% | #17 |
| 2013 | 11.08% | +0.97% | #17 |
| 2012 | 10.12% | −0.06% | #17 |
| 2011 | 10.18% | −0.69% | #19 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's credit to gdp was 17.25% in 2025. Ranked 126th globally. This represents a 3.6% increase from the previous year.
Madagascar's credit to gdp peaked at 18.64% in 2022.
The lowest credit to gdp in Madagascar was 6.66% in 2002.
Madagascar ranks 126th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Madagascar's credit to gdp is projected to reach 17.25% by 2025 based on trend extrapolation.
The credit to gdp of Madagascar in 2025 was 17.25%. This ranks 126th in the world.
Cite this page
@misc{historysaid_madagascar_credit-to-gdp,
title = {Madagascar Credit to GDP},
url = {https://historysaid.com/madagascar/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}