Madagascar vs Panama: Share of CO₂ emissions embedded in trade

Madagascar

44.4%

in 2023

Panama

50.1%

in 2023

Madagascar rank

32nd

Panama rank

30th

Share of CO₂ emissions embedded in trade over time

Panama currently reports 50.1% against 44.4% in Madagascar, a difference of 5.7%.

That makes Panama's figure about 1.1 times Madagascar's.

The two have swapped places 1 time across 31 shared years of data; in 1990 it was Madagascar ahead.

Madagascar ranks 32nd and Panama ranks 30th of 120 countries.

Indicator: Share of CO₂ emissions embedded in trade
Unit: %
Source: Global Carbon Budget (2025) – with major processing by Our World in Data
Licence: CC BY 4.0 (Our World in Data)
Coverage: 120 places, 4,063 data points, 1990–2023
Last refreshed: 07 August 2026

Annual net carbon dioxide (CO₂) emissions embedded in trade, measured as a percentage of emissions of CO₂.