Exporting to Madagascar
Demand for goods and services
In the year to June 2019, the top goods exported from the UK to Madagascar were textile fabrics, general industrial machinery, telecoms and sound equipment, chemicals and electrical goods. (ONS, 2019). In terms of services, the top services imported by Madagascar from the world were transport, business services, government goods and services, travel and telecommunications, computer and information services (ITC Trade Map, 2019). Therefore, if you operate in one of these industries, then Madagascar could be a good market for you.
Growing export market
Madagascar is expected to have import growth of 8.6% in 2019, with 7.1% expected the year after (IMF, 2019). UK businesses looking to export could benefit from the growing demand for imports in the region.