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Comoros Economy 2017
https://theodora.com/wfbcurrent/comoros/comoros_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Comoros Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
One of the world's poorest countries, Comoros is made up of three islands that are hampered by 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 and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, accounts for 50% of 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 and extreme weather. Despite agriculture’s importance to the economy, the country imports roughly 70% of its food; rice, the main staple, accounts for the bulk of imports.Authorities are negotiating with the IMF for triennial program assistance. The government - which is racked by internal political disputes - is struggling to provide basic services, upgrade education and technical training, privatize commercial and industrial enterprises, improve health services, diversify exports, promote tourism, and reduce the high population growth rate. Recurring political instability, sometimes initiated from outside the country, has inhibited growth. Remittances from about 200,000 Comorans contribute about 25% of the country’s GDP. In December 2012, IMF and the World Bank's International Development Association supported $176 million in debt relief for Comoros, resulting in a 59% reduction of its future external debt service over a period of 40 years. In late 2013, a US-based investment company invested $200 million in a project to explore for hydrocarbons in Comoran territorial waters, the largest financial investment in the country’s history.

GDP (purchasing power parity):
$1.259 billion (2016 est.) $1.232 billion (2015 est.) $1.22 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 201
[see also: GDP country ranks ]

GDP (official exchange rate):
$622 million (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.2% (2016 est.) 1% (2015 est.) 2% (2014 est.)
country comparison to the world: 131
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,500 (2016 est.) $1,500 (2015 est.) $1,600 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 218
[see also: GDP - per capita country ranks ]

Gross national saving:
11.9% of GDP (2016 est.) 19.2% of GDP (2015 est.) 12.8% of GDP (2014 est.)
country comparison to the world: 145
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 104.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 11.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 10.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 19.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -65% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 50%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 12.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 37.9% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
vanilla, cloves, ylang-ylang (perfume essence), coconuts, bananas, cassava (manioc)

Industries:
fishing, tourism, perfume distillation

Industrial production growth rate:
0.5% (2016 est.)
country comparison to the world: 166
[see also: Industrial production growth rate country ranks ]

Labor force:
245,200 (2013 est.)
country comparison to the world: 167
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 80%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 20% (1996 est.)

Unemployment rate:
6.5% (2014 est.)
country comparison to the world: 72
[see also: Unemployment rate country ranks ]

Population below poverty line:
44.8% (2004 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 55.2% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $165 million
[see also: Budget revenues country ranks ]
expenditures: $185.5 million (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
26.5% of GDP (2016 est.)
country comparison to the world: 102
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.3% of GDP (2016 est.)
country comparison to the world: 113
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.2% (2016 est.) 1.3% (2015 est.)
country comparison to the world: 78
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.93% (31 December 2010) 2.21% (31 December 2009)
country comparison to the world: 116
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.5% (31 December 2016 est.) 10.5% (31 December 2015 est.)
country comparison to the world: 79
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$201.8 million (31 December 2016 est.) $169 million (31 December 2015 est.)
country comparison to the world: 183
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$303 million (31 December 2016 est.) $251.7 million (31 December 2015 est.)
country comparison to the world: 188
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$180.1 million (31 December 2016 est.) $142.4 million (31 December 2015 est.)
country comparison to the world: 181
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$56 million (2016 est.) $5 million (2015 est.)
country comparison to the world: 65
[see also: Current account balance country ranks ]

Exports:
$19.2 million (2016 est.) $18.9 million (2015 est.)
country comparison to the world: 211
[see also: Exports country ranks ]

Exports - commodities:
vanilla, ylang-ylang (perfume essence), cloves

Exports - partners:
India 28.7%, France 17%, Germany 8.7%, Saudi Arabia 7.1%, Singapore 6.6%, Netherlands 6.1%, Mauritius 5.3% (2015)

Imports:
$191.2 million (2016 est.) $195.9 million (2015 est.)
country comparison to the world: 207
[see also: Imports country ranks ]

Imports - commodities:
rice and other foodstuffs, consumer goods, petroleum products, cement and construction materials, transport equipment

Imports - partners:
China 18.9%, Pakistan 16.2%, France 14.7%, UAE 11.3%, India 6.3% (2015)

Debt - external:
$133.3 million (31 December 2016 est.) $132.8 million (31 December 2015 est.)
country comparison to the world: 192
[see also: Debt - external country ranks ]

Exchange rates:
Comoran francs (KMF) per US dollar - 449.1 (2016 est.) 443.6 (2015 est.) 443.6 (2014 est.) 370.81 (2013 est.) 382.9 (2012 est.)


NOTE: The information regarding Comoros on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 2017 information contained here. All suggestions for corrections of any errors about Comoros Economy 2017 should be addressed to the CIA.




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