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    Comoros Economy - 1990

      Overview: 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 low level of economic activity, high unemployment, and a heavy dependence on foreign technical assistance. Agriculture, including fishing and forestry, is the leading sector of the economy. It contributes about 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production, and rice, the main staple, accounts for 90% of imports. During the period 1982-86 the industrial sector grew at an annual average rate of 5.3%, but its contribution to GDP was less than 4% in 1986. Despite major investment in the tourist industry, which accounts for about 25% of GDP, growth has stagnated since 1983.

      GDP: $207 million, per capita $475; real growth rate 0.1% (1988 est.)

      Inflation rate (consumer prices): 8.3% (1986)

      Unemployment rate: over 16% (1988 est.)

      Budget: revenues $75.2 million; expenditures $77.9 million, including capital expenditures of $4.8 million (1988 est.)

      Exports: $12 million (f.o.b., 1987); commodities--vanilla, cloves, perfume oil, copra; partners--US 53%, France 41%, Africa 4%, FRG 2%

      Imports: $52 million (c.i.f., 1987); commodities--rice and other foodstuffs, cement, petroleum products, consumer goods; partners--Europe 62% (France 22%, other 40%), Africa 5%, Pakistan, China

      External debt: $238 million (December 1988)

      Industrial production: growth rate 3.4% (1988 est.)

      Electricity: 16,000 kW capacity; 24 million kWh produced, 55 kWh per capita (1989)

      Industries: perfume distillation

      Agriculture: accounts for 40% of GDP; most of population works in subsistence agriculture and fishing; plantations produce cash crops for export--vanilla, cloves, perfume essences, and 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

      Aid: US commitments, including Ex-Im (FY80-88), $9 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $371 million; OPEC bilateral aid (1979-89), $22 million; Communist countries (1970-88), $18 million

      Currency: Comoran franc (plural--francs); 1 Comoran franc (CF) = 100 centimes

      Exchange rates: Comoran francs (CF) per US$1--287.99 (January 1990), 319.01 (1989), 297.85 (1988), 300.54 (1987), 346.30 (1986), 449.26 (1985); note--linked to the French franc at 50 to 1 French franc

      Fiscal year: calendar year

      NOTE: The information regarding Comoros on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 1990 information contained here. All suggestions for corrections of any errors about Comoros Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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