Comoros Economy - 2023

Economic overview

small trade-based island economy; declining remittances; new structural and fiscal reforms; adverse cyclone and COVID-19 impacts; manageable debts; fragile liquidity environment; large foreign direct investment; state-owned enterprises suffering

Real GDP (purchasing power parity)

$2.653 billion (2021 est.)

$2.598 billion (2020 est.)

$2.603 billion (2019 est.)

note: data are in 2017 dollars

comparison ranking

Real GDP growth rate

2.11% (2021 est.)

-0.2% (2020 est.)

1.76% (2019 est.)

comparison ranking

Real GDP per capita

$3,200 (2021 est.)

$3,200 (2020 est.)

$3,300 (2019 est.)

note: data are in 2017 dollars

comparison ranking

GDP (official exchange rate)

$1.186 billion (2019 est.)

Inflation rate (consumer prices)

1% (2017 est.)

1.8% (2016 est.)

comparison ranking

GDP - composition, by sector of origin

agriculture: 47.7% (2017 est.)

industry: 11.8% (2017 est.)

services: 40.5% (2017 est.)

GDP - composition, by end use

household consumption: 92.6% (2017 est.)

government consumption: 20.4% (2017 est.)

investment in fixed capital: 20% (2017 est.)

investment in inventories: -3.1% (2017 est.)

exports of goods and services: 17.2% (2017 est.)

imports of goods and services: -47.1% (2017 est.)

Agricultural products

coconuts, cassava, rice, bananas, pulses nes, milk, taro, sweet potatoes, maize, cloves

Industries

fishing, tourism, perfume distillation

Industrial production growth rate

-0.25% (2021 est.)

comparison ranking

Labor force

219,900 (2021 est.)

comparison ranking

Labor force - by occupation

agriculture: 80%

industry: 20% (1996 est.)

industry and services: 20% (1996 est.)

Unemployment rate

9.45% (2021 est.)

9.22% (2020 est.)

8.08% (2019 est.)

comparison ranking

Youth unemployment rate (ages 15-24)

total: 21.7%

male: 21.8%

female: 21.5% (2021 est.)

comparison ranking

Population below poverty line

42.4% (2013 est.)

Gini Index coefficient - distribution of family income

45.3 (2014 est.)

comparison ranking

Household income or consumption by percentage share

lowest 10%: 0.9%

highest 10%: 55.2% (2004)

Budget

revenues: $223 million (2018 est.)

expenditures: $228 million (2018 est.)

Budget surplus (+) or deficit (-)

-6.5% (of GDP) (2017 est.)

comparison ranking

Public debt

32.4% of GDP (2017 est.)

27.7% of GDP (2016 est.)

comparison ranking

Taxes and other revenues

25.3% (of GDP) (2017 est.)

comparison ranking

Fiscal year

calendar year

Current account balance

$6.145 million (2021 est.)

-$22.048 million (2020 est.)

-$39.814 million (2019 est.)

comparison ranking

Exports

$139.575 million (2021 est.)

$68.937 million (2020 est.)

$142.21 million (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

comparison ranking

Exports - partners

France 32%, India 23%, Germany 10%, Turkey 9%, Madagascar 7% (2019)

Exports - commodities

cloves, tug boats, essential oils, scrap vessels, vanilla (2021)

Imports

$407 million (2021 est.) note: data are in current year dollars

$344 million (2020 est.) note: data are in current year dollars

$353 million (2019 est.)

comparison ranking

Imports - partners

China 22%, United Arab Emirates 16%, France 11%, Pakistan 9%, India 6% (2019)

Imports - commodities

rice, chicken products, refined petroleum, cement, cars (2019)

Reserves of foreign exchange and gold

$329,671,800 (31 December 2021 est.)

$294,339,900 (31 December 2020 est.)

$202,031,700 (31 December 2019 est.)

comparison ranking

Debt - external

$199.8 million (31 December 2017 est.)

$132 million (31 December 2016 est.)

comparison ranking

Exchange rates

Comoran francs (KMF) per US dollar -

415.956 (2021 est.)

430.721 (2020 est.)

439.463 (2019 est.)

416.585 (2018 est.)

435.493 (2017 est.)

NOTE: The information regarding Comoros on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Comoros 2023 information contained here. All suggestions for corrections of any errors about Comoros 2023 should be addressed to the CIA or the source cited on each page.