Greece (GRC) and Madagascar (MDG) Trade | The Observatory of Economic Complexity

About

Greece-Madagascar Trade: In 2022, Greece exported $2.24M to Madagascar. The main products that Greece exported to Madagascar were Motor vehicles; parts and accessories (8701 to 8705) ($307k), Metal Mountings ($283k), and Large Construction Vehicles ($170k). Over the past 5 years the exports of Greece to Madagascar have decreased at an annualized rate of 3.53%, from $2.68M in 2017 to $2.24M in 2022.

In 2022, Greece did not export any services to Madagascar.

Madagascar-Greece Trade: In 2022, Madagascar exported $1.76M to Greece. The main products that Madagascar exported to Greece were Dried Legumes ($706k), Cloves ($340k), and Non-fillet Frozen Fish ($110k). Over the past 5 years the exports of Madagascar to Greece have increased at an annualized rate of 4.22%, from $1.43M in 2017 to $1.76M in 2022.

In 2022, Madagascar did not export any services to Greece.

Comparison: In 2022, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B). That same year, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Greece exported $2.24M to Madagascar. The main products exported from Greece to Madagascar were Motor vehicles; parts and accessories (8701 to 8705) ($307k), Metal Mountings ($283k), and Large Construction Vehicles ($170k). During the last 5 years the exports of Greece to Madagascar have decreased at an annualized rate of 3.53%, from $2.68M in 2017 to $2.24M in 2022.

In 2017, Madagascar exported $1.76M to Greece. The main products exported from Madagascar to Greece were Dried Legumes ($706k), Cloves ($340k), and Non-fillet Frozen Fish ($110k). During the last 5 years the exports of Madagascar to Greece have increased at an annualized rate of 4.22%, from $1.43M in 2022 to $1.76M in 2017.

Exports from Greece () to Madagascar () (2022)

Exports from Madagascar () to Greece () (2022)

Latest Data

Trade between Greece () and Madagascar ()

Greece Exports

Date

Madagascar Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Madagascar
Top DestinationUnited States$756M

This map shows whether countries import more from Greece or Madagascar. Each country is colored based on the difference in imports they receive from Greece and Madagascar or the difference in the growth in imports.

In 2022, countries that imported more from Greece than Madagascar included Italy ($5.82B), Bulgaria ($3.62B), and Germany ($3.45B).

In 2022, countries that imported more from Madagascar than Greece included Japan ($448M), Indonesia ($147M), and Chinese Taipei ($104M).

Difference in imports from Madagascar () and Greece () (2022)

Comparative Advantage Greece - Madagascar

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Greece and Madagascar by product, considering products traded by both, Greece and Madagascar.

During 2022, Greece had a large net trade with Madagascar in the exports of Machines ($719k), Metals ($713k), and Transportation ($307k).

During 2017, Madagascar had a large net trade with Greece in the exports of Vegetable Products ($1.18M), Textiles ($201k), and Animal Products ($111k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Madagascar+$141kMotor vehicles; parts and accessories (8701 to 8705)

Top Product Potential Madagascar Greece+$309kDried Legumes

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Greece and Madagascar. This means that a dot/product with the flag of Greece indicates it has a comparative advantage over Madagascar. Similarly, a dot/product with the flag of Madagascar indicates it has a comparative advantage over Greece.

About

Historical Data

Bilateral Trade by Products

Exports from Greece () to Madagascar () (2022)

Exports from Madagascar () to Greece () (2022)

Latest Data

Trade between Greece () and Madagascar ()

Greece Exports

Madagascar Exports

Market Competitiveness

Difference in imports from Madagascar () and Greece () (2022)

Comparative Advantage Greece - Madagascar

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Greece () and Madagascar () (2022)

Keep Exploring