Tsingy Rouge - Red Tsingy Madagascar
Madagascar's natural resources include a variety of unprocessed agricultural and mineral resources. Agriculture, including raffia, fishing and forestry, is a mainstay of the economy. Madagascar is the world's principal supplier of vanilla, cloves and ylang-ylang. Other key agricultural resources include coffee, lychees and shrimp. Key mineral resources include various types of precious and semi-precious stones, and Madagascar currently provides half of the world's supply of sapphires, which were discovered near Ilakaka in the late 1990s. The island also holds one of the world's largest reserves of ilmenite (titanium ore), as well as important reserves of chromite, coal, iron, cobalt, copper and nickel. Several major projects are underway in the mining, oil and gas sectors that are anticipated to give a significant boost to the Malagasy economy. These include such projects as ilmenite and zircon mining from heavy mineral sands near Tôlanaro by Rio Tinto, extraction of nickel near Moramanga and its processing near Toamasina by Sherritt International,and the development of the giant onshore heavy oil deposits at Tsimiroro and Bemolanga by Madagascar Oil. Exports formed 28 percent of GDP in 2009. Most of the country's export revenue is derived from the textiles industry, fish and shellfish, vanilla, cloves and other foodstuffs. France is Madagascar's main trading partner, although the United States, Japan and Germany also have strong economic ties to the country. The Madagascar-U.S. Business Council was formed in May 2003, as a collaboration between USAID and Malagasy artisan producers to support the export of local handicrafts to foreign markets. Imports of such items as foodstuffs, fuel, capital goods, vehicles, consumer goods and electronics consume an estimated 52 percent of GDP. The main sources of Madagascar's imports include France, China, Iran, Mauritius and Hong Kong.