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Agriculture, including fishing and forestry accountis for more than 25% of GDP and employs roughly 80% of the population. Madagascar produces around 80% of the world’s vanilla and relies on this commodity for most of its foreign exchange.
Madagascar lost duty-free access to the US market (AGOA) in 2010, erasing most of its thriving textile industry. It regained access in 2015 but ensuing growth has been slow and fragile.
The population is predominantly rural and poor; chronic malnutrition is prevalent, and large families are the norm.
The currency experience a sharp depreciation since 2014, losing roughly 40% of its value.
Medium. An ongoing IMF program aims to strengthen financial and investment management capacity.
The 2007 Constitution indicated English as one of the official languages of the country, but its status was withdrawn during the 2010 referendum. English remains the major foreign language and it is understood especially in urban areas.
Extremely high level of corruption.
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