Export : Conquering new markets in Europe

The United States is emerging as a key partner for the Big Island in the textile sector. According to the African Growth Opportunity Act (Agoa) information portal, textile exports to the U.S. are projected to surpass USD 4 billion by the end of 2023.

In 2023, textile exports from the Big Island made up 37.7 % of exports to the USA, while France imported 22.13 %. The textile industry has grown rapidly in recent years, bolstered by preferential agreements that provide easy access to American and foreign markets.

Besides Agoa, the Economic Partnership Agreement with the European Union and the success of export processing zones have also contributed to this growth. The Big Island stands to gain even more if Agoa is renewed in 2025. According to the Ministry of Economy and Finance, Madagascar’s continued participation in Agoa could boost the Malagasy textile sector’s growth by 2.4 % this year, with further increases expected in the coming years.

Malagasy textiles have the potential to thrive in the American market and beyond. The quality and resilience of this industry are undeniable. The textile sector is crucial to the island’s GDP, generating thousands of jobs and representing a significant portion of Malagasy exports.