Madagascar: Hard blow for exports

“This decline was observed mainly in the key sectors of vanilla, cloves, cobalt and free enterprise products,” the bank underlined, specifying that the value of vanilla exports plunged by 63.5%. , mainly due to the sharp price drop of 81.3%, although the export volume increased by 95%. Additionally, nickel exports slowed by 64% due to a decline in both exported volume and average price, by 38.4% and 41.6%. On the other hand, the bank also revealed that revenues from cobalt fell by 24%, the average price having decreased by 29.5% despite a 7.9% increase in the volume exported. As for clove exports, they decreased by 9%, notably due to the drop in volume of 8% and price of 1.2%, reported the financial ...