Madagascar Remittances Received
Personal remittances received BX.TRF.PWKR.CD.DT
Madagascar's remittances received was $315.7M in 2025, ranked 127th globally. This represents a 22.3% decrease from 2024. Data from World Bank, covering 1974–2025.
Overview
Madagascar's remittances received stood at $315.7M in 2025, a decline of +$90.6M from 2024. Based on recent trends, this figure is projected to reach $315.7M by 2025. Madagascar ranked 127th globally.
Madagascar’s remittance inflows have risen sharply from a modest $415,448.46 in 1974 to $315,679,080.58 in 2025, placing the island nation at rank 127 globally. The upward trajectory peaked in 2020 with $495,356,527.45, while the lowest recorded flow occurred in 1979 at $47,009.97, reflecting the early vulnerability of the diaspora network. Over the 52‑year span, the average annual growth rate accelerated after the 1990s, driven by expanding migrant communities in Europe and the United States and by improvements in mobile money transfers. Madagascar’s 2025 receipt is comparable to Comoros ($315,647,431.57) and slightly below Saudi Arabia ($333,961,837.58), underscoring a regional convergence among small‑to‑medium economies that rely heavily on overseas earnings. Continued liberalisation of financial channels and sustained diaspora engagement are likely to sustain the upward trend, although any downturn in host‑country economies could reverse the gains.
Data & projection
| Year | Remittances Received | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $254.4M | - | - |
| 2026* trend | $285.0M | - | - |
| 2025* trend | $315.7M | - | - |
| 2025 | $315.7M | −$90.6M | #127 |
| 2024 | $406.3M | +$94.8M | #60 |
| 2023 | $311.5M | −$73.8M | #56 |
| 2022 | $385.3M | −$54.4M | #62 |
| 2021 | $439.7M | −$55.6M | #68 |
| 2020 | $495.4M | +$87.7M | #78 |
| 2019 | $407.7M | −$17.8M | #70 |
| 2018 | $425.5M | +$82.7M | #70 |
| 2017 | $342.8M | +$43.6M | #68 |
| 2016 | $299.2M | −$27.6M | #64 |
| 2015 | $326.8M | −$17.6M | #68 |
| 2014 | $344.4M | −$13.3M | #68 |
| 2013 | $357.8M | +$27.3M | #68 |
| 2012 | $330.5M | −$4.5M | #70 |
| 2011 | $335.0M | −$120.8M | #72 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw remittances received improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's remittances received was $315.7M in 2025. Ranked 127th globally. This represents a 22.3% decrease from the previous year.
Madagascar's remittances received peaked at $495.4M in 2020.
The lowest remittances received in Madagascar was $47,010 in 1979.
Madagascar ranks 127th globally in remittances received as of 2025.
The World Bank indicator code is BX.TRF.PWKR.CD.DT. Data sourced from World Bank.
Madagascar's remittances received is projected to reach $315.7M by 2025 based on trend extrapolation.
Madagascar's remittances received was approximately 315.68 million ($315.7M) in 2025.
The remittances received of Madagascar in 2025 was $315.7M. This ranks 127th in the world.
Cite this page
@misc{historysaid_madagascar_remittances,
title = {Madagascar Remittances Received},
url = {https://historysaid.com/madagascar/remittances/},
publisher = {HistorySaid},
year = {2026}
}