Madagascar's economy
The economy in Madagascar is very unregulated. This means that the supply and demand are either regulated with minor restrictions, or are not regulated at all. The GDP (gross domestic product) was about $39.85 billion in 2017. Agriculture is accountable for more than 1/4 of the GDP and employs about 80% of the population The GDP is composed of 24% agriculture, 19.5% industry, and 56.4% services. On average, the people make about $1,600 a year, which puts them 218th in the entire world. Madagascar is very poverty stricken because of their lack of resources.
Most abundant products of Madagascar
st Madagascar has a high production of agriculture. Their most abundant products include: Vanilla, coffee, cocoa, and sugarcane. The industry has a high production of: soap, seafood, and beer. The majority of the money made in Madagascar is made from their agriculture and industry products, but especially their agriculture, because it is unique to most of the rest of the world. More large industries in Madagascar are: paper, automobile assembly plants, petroleum, mining, tourism, textile, glassware, and cement. The capital city of Antananarivo makes a large amount of profit off of tourism. Most of the tourists who visit Madagascar mainly stay at the capital it is a large city area with the most resources. There is also many touristy things to do within the capital city so most people prefer to stay there. Madagascar has one of the worlds largest sapphire reserves and they have mines with a large production of many other ores and minerals such as: nickel, gold, cobalt, and coal.