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Comoros Economy 1996
One of the world's poorest countries, Comoros is made up of several islands
that have poor 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 90%
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, and to reduce the high population
growth rate. Continued foreign support is essential if the goal of 4% annual
GDP growth is to be reached in the late 1990s.
GDP - purchasing power parity - $370 million (1994 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$92 million, including capital expenditures of $32 million (1992)
$13.7 million (f.o.b., 1993 est.)
vanilla, ylang-ylang, cloves, perfume oil, copra
US 44%, France 40%, Germany 6%, Africa 5% (1992)
$40.9 million (f.o.b., 1993 est.)
rice and other foodstuffs, petroleum products, cement, consumer goods
France 34%, South Africa 14%, Kenya 8%, Japan 4% (1992)
growth rate -6.5% (1989 est.); accounts for 6% of GDP
perfume distillation, textiles, furniture, jewelry, construction materials,
soft drinks
accounts for 40% of GDP; most of population works in subsistence agriculture
and fishing; plantations produce cash crops for export - vanilla, cloves,
perfume essences, copra; principal food crops - coconuts, bananas, cassava;
world's leading producer of essence of ylang-ylang (for perfumes) and
second-largest producer of vanilla; large net food importer
US commitments, including Ex-Im (FY80-89), $10 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $435 million; OPEC
bilateral aid (1979-89), $22 million; Communist countries (1970-89), $18
million
1 Comoran franc (CF) = 100 centimes
Comoran francs (CF) per US$1 - 297.07 (January 1995), 416.40 (1994), 254.57
(1993), 264.69 (1992), 282.11 (1991), 272.26 (1990)
beginning 12 January 1994, the Comoran franc was devalued to 75 per French
franc from 50 per French franc at which it had been fixed since 1948
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