Trade between France and Madagascar has fallen. According to a report by the French Treasury published at the end of September, trade in goods between the two countries dropped by 11.1% in 2025, totaling 874 million euros. In 2024, both countries had reported trade figures close to one billion euros. These figures are confirmed by data from the International Trade Centre. France exported over 350 million euros to Madagascar in 2025, a clear decline from the 407 million euros exported in 2024.
The French Treasury attributes this decline to reduced French sales of textiles and industrial agricultural machinery. It also highlights a trade imbalance unfavorable to France: France increased its imports of agri-food products, such as shrimp, and agricultural products, such as vanilla. “France records the largest structural trade deficit in the region with Madagascar. This deficit stood at -173 million euros in 2025, an increase of 1.7% compared to 2024,” the Treasury stated, noting that current trade dynamics result from several cyclical and specific factors.
In the private sector, negotiations continue between the employers’ organizations of both countries. A delegation from the French business association (Medef) is expected in Antananarivo from November 18 to 20. The agenda for the fifteen business leaders from Medef International will be busy, as discussions will focus on monitoring and accelerating the 29 priority projects defined with the Groupement des entreprises de Madagascar (GEM) in Paris earlier this year. These projects cover various sectors, including energy, sustainable infrastructure, logistics, digital, tourism, and training. This portfolio represents between 1.21 and 2.29 billion euros. The signing of two to three concrete agreements is expected during the visit, according to informed sources.
Despite these downward trends, the French economic presence remains structural. It includes 55 subsidiaries of French companies, with a cumulative turnover of nearly one billion euros and over 17,000 jobs. Key players include Rubis (Galana), TotalEnergies, Orange, and BRED Madagasikara, which finalized the acquisition of Société Générale’s Malagasy subsidiary in 2024.
Captured & Published at: 2026-10-27 06:38:47 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/10/commerce-exterieur-recul-des-flux.html