Remittances received — all countries

Remittances received — Madagascar

Remittances received in Madagascar in 2024 — 406,259,556 US$. Ranked 112 in the world out of 160. Since 1974, the indicator has risen by 97,688.2%.

2024 406M US$ +30.44% vs 2023
World rank 112of 160
Period maximum 495M US$2020
Period minimum 47,010 US$1979

Trend over time

1974–2024 · US$

Remittances received — Madagascar, 1974–20240200M400M600M197419791984198919941999200420092014201920241974: 415,448 US$1975: 466,609 US$1976: 711,447 US$1977: 325,628 US$1978: 398,839 US$1979: 47,010 US$1980: 378,647 US$1981: 220,807 US$1982: 114,372 US$1983: 116,158 US$1984: 5,636,075 US$1985: 4,573,740 US$1986: 5,869,822 US$1987: 4,648,277 US$1988: 4,029,545 US$1989: 9,741,570 US$1990: 7,870,713 US$1991: 13,130,939 US$1992: 15,214,865 US$1993: 13,543,859 US$1994: 12,743,958 US$1995: 9,102,989 US$1996: 6,241,918 US$1997: 12,184,520 US$1998: 11,462,127 US$1999: 11,621,995 US$2000: 11,270,073 US$2001: 10,871,296 US$2002: 29,323,596 US$2003: 16,231,548 US$2004: 11,506,654 US$2005: 101,672,956 US$2006: 150,260,189 US$2007: 254,488,697 US$2008: 313,991,941 US$2009: 283,721,277 US$2010: 455,825,544 US$2011: 335,015,247 US$2012: 330,495,620 US$2013: 357,754,331 US$2014: 344,438,244 US$2015: 326,844,541 US$2016: 299,204,626 US$2017: 342,776,978 US$2018: 425,502,226 US$2019: 407,676,204 US$2020: 495,356,527 US$2021: 439,712,455 US$2022: 385,290,311 US$2023: 311,454,460 US$2024: 406,259,556 US$
Change over the period: +406M (+97,688.2%) Average annual rate: 14.76 %

Comparison, 2024

How the value compares with the world and the groups this territory belongs to: Madagascar

Madagascar 406M US$
World 857B US$
Sub-Saharan Africa 57.23B US$
Eastern Africa computed 20.5B US$
Remittances received — Madagascar, by year Madagascar All countries CSV XLSX
Year US$ Change Change, %
2024 406M +94.81M +30.44%
2023 311M −73.84M −19.16%
2022 385M −54.42M −12.38%
2021 440M −55.64M −11.23%
2020 495M +87.68M +21.51%
2019 408M −17.83M −4.19%
2018 426M +82.73M +24.13%
2017 343M +43.57M +14.56%
2016 299M −27.64M −8.46%
2015 327M −17.59M −5.11%
2014 344M −13.32M −3.72%
2013 358M +27.26M +8.25%
2012 330M −4.52M −1.35%
2011 335M −121M −26.5%
2010 456M +172M +60.66%
2009 284M −30.27M −9.64%
2008 314M +59.5M +23.38%
2007 254M +104M +69.37%
2006 150M +48.59M +47.79%
2005 102M +90.17M +783.6%
2004 11.51M −4.72M −29.11%
2003 16.23M −13.09M −44.65%
2002 29.32M +18.45M +169.73%
2001 10.87M −398,776 −3.54%
2000 11.27M −351,922 −3.03%
1999 11.62M +159,868 +1.39%
1998 11.46M −722,393 −5.93%
1997 12.18M +5.94M +95.2%
1996 6.24M −2.86M −31.43%
1995 9.1M −3.64M −28.57%
1994 12.74M −799,900 −5.91%
1993 13.54M −1.67M −10.98%
1992 15.21M +2.08M +15.87%
1991 13.13M +5.26M +66.83%
1990 7.87M −1.87M −19.2%
1989 9.74M +5.71M +141.75%
1988 4.03M −618,732 −13.31%
1987 4.65M −1.22M −20.81%
1986 5.87M +1.3M +28.34%
1985 4.57M −1.06M −18.85%
1984 5.64M +5.52M +4,752.09%
1983 116,158 +1,786 +1.56%
1982 114,372 −106,435 −48.2%
1981 220,807 −157,840 −41.69%
1980 378,647 +331,637 +705.46%
1979 47,010 −351,829 −88.21%
1978 398,839 +73,210 +22.48%
1977 325,628 −385,819 −54.23%
1976 711,447 +244,838 +52.47%
1975 466,609 +51,161 +12.31%
1974 415,448

About the indicator

Personal remittances received by a country: the earnings of labor migrants sent home, plus transfers between households. For a couple of dozen countries this flow is larger than any single export item, and for several it exceeds a fifth of GDP — remittances then become the main external link of the economy, steadier than both direct investment and foreign aid: in a crisis they usually do not fall but rise, because migrants send their families more.

Important: Only transfers through banks and money transfer systems are counted. Cash brought in person does not reach the statistics, so the real volumes are higher — by estimates, noticeably so.

Source: World Development Indicators (World Bank), license CC BY 4.0.