A socialist economy in the past, since the mid-90s Madagascar has been following the policies of liberalization and privatization of the IMF and the World Bank. The county’s economy has been steadily improving from its previously low level.
The main economic bases for growth and development are agriculture, forestry, and fishing, which account for more than 25% of the GDP and 80% of the overall population.
Madagascar’s export of apparels has increased in the recent years, due to its current duty-free access to the United States.