
Comoros Economy
Comoros Economy: A summary of information about Comoros Economy, from government research data as well as independent research and other sources.
Comoros: Economy
Economy - overview
One of the world's poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, is the leading sector of the economy. It contributes 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports. The government is struggling to upgrade education and technical training, to privatize commercial and industrial enterprises, to improve health services, to diversify exports, to promote tourism, and to reduce the high population growth rate. Continued foreign support is essential if the goal of 4% annual GDP growth is to be met.
GDP
purchasing power parity - $410 million (1998 est.)
GDP - real growth rate
0% (1998 est.)
GDP - per capita
purchasing power parity - $725 (1998 est.)
GDP - composition by sector
agriculture: 40% industry: 5% services: 55% (1997 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)
4% (1998)
Labor force
144,500 (1996 est.)
Labor force - by occupation
agriculture 80%, government 3%
Unemployment rate
20% (1996 est.)
Budget
revenues: $48 million expenditures: $53 million, including capital expenditures of $NA (1997)
Industries
tourism, perfume distillation, textiles, furniture, jewelry, construction materials, soft drinks
Industrial production growth rate
NA%
Electricity - production
15 million kWh (1998)
Electricity - production by source
fossil fuel: 86.67% hydro: 13.33% nuclear: 0% other: 0% (1998)
Electricity - consumption
14 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
vanilla, cloves, perfume essences, copra, coconuts, bananas, cassava (tapioca)
Exports
$9.3 million (f.o.b., 1998 est.)
Exports - commodities
vanilla, ylang-ylang, cloves, perfume oil, copra
Exports - partners
France 43%, US 43%, Germany 7% (1997)
Imports
$49.5 million (f.o.b., 1998 est.)
Imports - commodities
rice and other foodstuffs, consumer goods; petroleum products, cement, transport equipment
Imports - partners
France 59%, South Africa 15%, Kenya 6% (1997)
Debt - external
$197 million (1997 est.)
Economic aid - recipient
$28.1 million (1997)
Currency
1 Comoran franc (CF) = 100 centimes
Exchange rates
Comoran francs (CF) per US$1 - 485.44 (January 2000), 461.77 (1999), 442.46 (1998), 437.75 (1997), 383.66 (1996), 374.36 (1995) note: prior to January 1999, the official rate was pegged to the French franc at 75 CFs per French franc; since 1 January 1999, the CF is pegged to the euro at a rate of 491.9677 Comoran francs per euro
Fiscal year
calendar year