Madagascar Reserves in Months of Imports
Total reserves in months of imports FI.RES.TOTL.MO
Madagascar's reserves in months of imports was 5.5 in 2025, ranked 41st globally. This represents a 37.1% increase from 2024. Data from World Bank, covering 1974–2025.
Overview
Madagascar's reserves in months of imports stood at 5.5 in 2025, a rise of +1.5 from 2022. Based on recent trends, this figure is projected to reach 5.5 by 2025. Madagascar ranked 41st globally.
Madagascar’s international reserves cover 5.46 months of imports in 2025, ranking it 41st globally and placing it just below peers such as Lesotho (5.49) and Nicaragua (5.50). The indicator has risen steadily from a low of 0.06 months in 1979, the all‑time trough, to a peak of 5.73 months in 2020, before a modest decline to the current level. Over the 50‑year span, the upward trajectory reflects successive balance‑of‑payments adjustments, export diversification and periodic fiscal consolidation, while the slight dip since the 2020 high suggests vulnerability to external shocks such as commodity price volatility and debt service pressures. Compared with Thailand’s 5.39 months, Madagascar’s buffer remains modest but sufficient to absorb short‑term import disruptions. Continued accumulation of reserves will depend on maintaining export growth, improving fiscal discipline and securing favorable terms on external financing, which could sustain or modestly extend the current coverage in the coming years.
Data & projection
| Year | Reserves in Months of Imports | YoY change | Rank |
|---|---|---|---|
| 2025* trend | 5.5 | - | - |
| 2025 | 5.5 | +1.5 | #41 |
| 2022 | 4.0 | −1.5 | #85 |
| 2021 | 5.5 | −0.3 | #72 |
| 2020 | 5.7 | +1.9 | #77 |
| 2019 | 3.9 | −0.0 | #93 |
| 2018 | 3.9 | +0.0 | #85 |
| 2017 | 3.9 | +0.4 | #91 |
| 2016 | 3.5 | +1.0 | #99 |
| 2015 | 2.5 | +0.4 | #126 |
| 2014 | 2.1 | +0.1 | #135 |
| 2013 | 2.0 | −0.9 | #135 |
| 2012 | 2.9 | −0.4 | #113 |
| 2011 | 3.3 | −0.1 | #102 |
| 2010 | 3.4 | +0.5 | #112 |
| 2009 | 2.9 | +0.5 | #122 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw reserves in months of imports improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's reserves in months of imports was 5.5 in 2025. Ranked 41st globally. This represents a 37.1% increase from the previous year.
Madagascar's reserves in months of imports peaked at 5.7 in 2020.
The lowest reserves in months of imports in Madagascar was 0.1 in 1979.
Madagascar ranks 41st globally in reserves in months of imports as of 2025.
The World Bank indicator code is FI.RES.TOTL.MO. Data sourced from World Bank.
Madagascar's reserves in months of imports is projected to reach 5.5 by 2025 based on trend extrapolation.
The reserves in months of imports of Madagascar in 2025 was 5.5. This ranks 41st in the world.
Cite this page
@misc{historysaid_madagascar_reserves-months-imports,
title = {Madagascar Reserves in Months of Imports},
url = {https://historysaid.com/madagascar/reserves-months-imports/},
publisher = {HistorySaid},
year = {2026}
}