Ghana vs Madagascar
Ghana vs Madagascar: Inflation
Inflation in 2025: 14.2% a year in Ghana and 8% a year in Madagascar, by IMF estimates. In 2025 the value was higher in Ghana, by 6.2 percentage points, or 1.77 times that in Madagascar.
% a year · IMF
What the numbers say
- Ghana has been higher since 2012, when it overtook Madagascar.
- In 2025, Ghana ranked 16 and Madagascar ranked 26 of 179 countries, counting from the highest.
- The IMF projection (World Economic Outlook, October 2026) puts Ghana at 8% a year and Madagascar at 5% a year in 2031.
Every year
% a year · IMF
| Year | Ghana | Madagascar |
|---|---|---|
| 2025 | 14.2 | 8 |
| 2024 | 22.9 | 7.6 |
| 2023 | 39.2 | 9.9 |
| 2022 | 31.9 | 8.2 |
| 2021 | 10 | 5.8 |
| 2020 | 9.9 | 4.2 |
| 2019 | 7.2 | 5.6 |
| 2018 | 9.8 | 8.6 |
| 2017 | 12.4 | 8.6 |
| 2016 | 17.5 | 6.1 |
| 2015 | 17.2 | 7.4 |
| 2014 | 15.5 | 6.1 |
| 2013 | 11.7 | 5.8 |
| 2012 | 7.1 | 5.7 |
| 2011 | 7.7 | 9.5 |
| 2010 | 6.7 | 9.2 |
| 2009 | 13.1 | 9 |
| 2008 | 16.5 | 9.3 |
| 2007 | 10.7 | 10.3 |
| 2006 | 11.7 | 10.8 |
| 2005 | 15.1 | 18.4 |
| 2004 | 12.7 | 14 |
| 2003 | 26.6 | -1.7 |
| 2002 | 14.9 | 16.5 |
| 2001 | 32.9 | 7.9 |
| 2000 | 25.1 | 11.6 |
| 1999 | 12.5 | 7.2 |
| 1998 | 19.2 | 6.2 |
| 1997 | 24.8 | 4.5 |
| 1996 | 44.5 | 19.8 |
| 1995 | 59.3 | 49 |
| 1994 | 24.9 | 39 |
| 1993 | 24.9 | 10 |
| 1992 | 10.1 | 14.6 |
| 1991 | 18.1 | 8.5 |
| 1990 | 37.2 | 11.9 |
| 1989 | 25.2 | 9 |
| 1988 | 31.4 | 26.3 |
| 1987 | 39.8 | 15.5 |
| 1986 | 24.5 | 14.5 |
| 1985 | 10.3 | 10.6 |
| 1984 | 40 | 9.7 |
| 1983 | 122.2 | 19.5 |
| 1982 | 22.5 | 31.9 |
| 1981 | 116.5 | 30.5 |
| 1980 | 50 | 18.3 |
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Ghana | Madagascar |
|---|---|---|
| 2026 | 4.8 | 8.4 |
| 2027 | 7.8 | 8 |
| 2028 | 8 | 6.5 |
| 2029 | 8 | 6 |
| 2030 | 8 | 5.5 |
| 2031 | 8 | 5 |
Each country on its own
Good to know
- How much consumer prices rose in a year, on average.
- Source: IMF, World Economic Outlook, October 2026.
- The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
- Ranks count the 179 countries with a value in 2025, highest first.
How the layers work, where their data comes from and what they can’t tell you: Countries through time
Ghana vs Madagascar
Health
- Life expectancyGhana: 65.5 years in 2023Madagascar: 63.6 years in 2023
- Child mortalityGhana: 3.6 per 100 live births in 2024Madagascar: 6.2 per 100 live births in 2024
- Infant mortalityGhana: 30.7 per 1,000 live births in 2023Madagascar: 45 per 1,000 live births in 2023
- Safe drinking waterGhana: 44.5% in 2022Madagascar: 22.2% in 2022
- DepressionGhana: 3.4% in 2017Madagascar: 3.71% in 2017
- Suicide rateGhana: 9.7 per 100,000 people in 2017Madagascar: 11 per 100,000 people in 2017
People
- PopulationGhana: 33.8 million people in 2023Madagascar: 31.2 million people in 2023
- Population growthGhana: 1.9% a year in 2023Madagascar: 2.45% a year in 2023
- Fertility rateGhana: 3.4 births per woman in 2023Madagascar: 3.97 births per woman in 2023
- Urban populationGhana: 58.9% in 2025Madagascar: 32.9% in 2025
- Median ageGhana: 20.9 years in 2023Madagascar: 18.9 years in 2023
- People aged 65 and overGhana: 3.6% in 2023Madagascar: 3.3% in 2023
- Net migration rateGhana: -0.3 per 1,000 people in 2023Madagascar: -0 per 1,000 people in 2023
Economy
Education
Politics
Conflict
Military
- Military spendingGhana: 0.48% of GDP in 2025Madagascar: 0.62% of GDP in 2025
- Military spending in US dollarsGhana: $385M in 2025Madagascar: $111M in 2025
- Military spending per personGhana: $15 in 2025Madagascar: $4 in 2025
- Military share of state spendingGhana: 2.4% of government spending in 2025Madagascar: 3.8% of government spending in 2025
- Armed forces personnelGhana: 16,000 people in 2020Madagascar: 22,000 people in 2020
- National powerGhana: 0.17% of world capability in 2022Madagascar: 0.11% of world capability in 2022
- Armed forces, share of workersGhana: 0.13% of the labour force in 2020Madagascar: 0.15% of the labour force in 2020
- Arms importsGhana: 5 million TIV in 2025Madagascar: 3 million TIV in 2025