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, contributes 40% to GDP, employs 80% of the labor force, and provides most of the exports. Export income is heavily reliant on the three main crops of vanilla, cloves, and ylang-ylang and Comoros' export earnings are easily disrupted by disasters such as fires. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports. The government - which is hampered by internal political disputes - lacks a comprehensive strategy to attract foreign investment and is struggling to upgrade education and technical training, privatize commercial and industrial enterprises, improve health services, diversify exports, promote tourism, and reduce the high population growth rate. Political problems have inhibited growth, which has averaged only about 1% in 2006-09. Remittances from 150,000 Comorans abroad help supplement GDP. In September 2009 the IMF approved Comoros for a three-year $21 million loan. The IMF gave generally positive reports of the country's program performance as of October 2010. The African Development Bank approved a $34.6 million debt-relief package loan for Comoros in September 2010, and Comoros will attempt to qualifry for debt relief in 2012 under the IMF and World Bank's Heavily Indebted Poor Countries (HIPC) initiative.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Comoros on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 2011 information contained here. All suggestions for corrections of any errors about Comoros Economy 2011 should be addressed to the CIA.
$789.4 million (2010 est.)
country comparison to the world: 208
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$557 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.7% (2010 est.)
country comparison to the world: 159
[see also: GDP - real growth rate country ranks ]
$1,000 (2010 est.)
country comparison to the world: 217
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 40%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
4%
[see also: GDP - composition by sector - industry country ranks ]
services:
56% (2001 est.)
[see also: GDP - composition by sector - services country ranks ]
268,500 (2007 est.)
country comparison to the world: 165
[see also: Labor force country ranks ]
agriculture: 80%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services:
20% (1996 est.)
20% (1996 est.)
country comparison to the world: 165
[see also: Unemployment rate country ranks ]
60% (2002 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 0.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
55.2%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $27.6 million
[see also: Budget - revenues country ranks ]
expenditures:
$NA (2001 est.)
[see also: Budget - expenditures country ranks ]
3% (2007 est.)
country comparison to the world: 90
[see also: Inflation rate (consumer prices) country ranks ]
2.21% (31 December 2009)
country comparison to the world: 81
[see also: Central bank discount rate country ranks ]
10.5% (31 December 2009 est.)
country comparison to the world: 85
[see also: Commercial bank prime lending rate country ranks ]
$104.7 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$168.6 million (31 December 2009)
[see also: Stock of broad money country ranks ]
$79.75 million (31 December 2008 est.)
country comparison to the world: 180
[see also: Stock of domestic credit country ranks ]
vanilla, cloves, ylang-ylang, perfume essences, copra, coconuts, bananas, cassava (tapioca)
fishing, tourism, perfume distillation
NA%
[see also: Industrial production growth rate country ranks ]
22 million kWh (2007 est.)
country comparison to the world: 205
[see also: Electricity - production country ranks ]
20.46 million kWh (2007 est.)
country comparison to the world: 205
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 196
[see also: Oil - production country ranks ]
1,000 bbl/day (2009 est.)
country comparison to the world: 203
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 204
[see also: Oil - exports country ranks ]
766 bbl/day (2007 est.)
country comparison to the world: 191
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 192
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 185
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 197
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 188
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 190
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 192
[see also: Natural gas - proved reserves country ranks ]
$8 million (2007 est.)
country comparison to the world: 60
[see also: Current account balance country ranks ]
$32 million (2006)
country comparison to the world: 203
[see also: Exports country ranks ]
vanilla, ylang-ylang (perfume essence), cloves, copra
Turkey 25.2%, France 20.44%, Singapore 17.44%, Algeria 8.02%, Italy 6.09%, Saudi Arabia 5% (2009)
$143 million (2006)
country comparison to the world: 206
[see also: Imports country ranks ]
rice and other foodstuffs, consumer goods, petroleum products, cement, transport equipment
France 15.5%, China 14.66%, India 10.55%, UAE 7.88%, Pakistan 5.69%, Kenya 4.51% (2009)
$232 million (2000 est.)
country comparison to the world: 174
[see also: Debt - external country ranks ]
Comoran francs (KMF) per US dollar - 361.4 (2007), 391.8 (2006), 395.6 (2005), 396.21 (2004), 435.9 (2003)
note:
the Comoran franc is pegged to the euro at a rate of 491.9677 Comoran francs per euro
This page was last modified 09-Feb-11