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Comoros Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Comoros Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
One of the world's poorest and smallest economies, the 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 about 50% of GDP, employs a majority 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 (perfume essence); and the 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, and other dried vegetables account for more than 25% of imports. Remittances from about 300,000 Comorans contribute about 25% of the country’s GDP. France, Comoros’s colonial power, remains a key trading partner and bilateral donor.

Comoros faces an education system in need of upgrades, limited opportunities for private commercial and industrial enterprises, poor health services, limited exports, and a high population growth rate. Recurring political instability, sometimes initiated from outside the country, and an ongoing electricity crisis have inhibited growth. The government, elected in mid-2016, has moved to improve revenue mobilization, reduce expenditures, and improve electricity access, although the public sector wage bill remains one of the highest in sub-Saharan Africa. In mid-2017, Comoros joined the Southern African Development Community with 15 other regional member states.

GDP (purchasing power parity):
$1.319 billion (2017 est.)
$1.284 billion (2016 est.)
$1.257 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 201
[see also: GDP country ranks ]

GDP (official exchange rate):
$652 million (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.7% (2017 est.)
2.2% (2016 est.)
1% (2015 est.)
country comparison to the world: 125
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,600 (2017 est.)
$1,600 (2016 est.)
$1,600 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 216
[see also: GDP - per capita country ranks ]

Gross national saving:
17.3% of GDP (2017 est.)
13.6% of GDP (2016 est.)
18% of GDP (2015 est.)
country comparison to the world: 117
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 92.6% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.4% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -3.1% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 17.2% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -47.1% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 47.7% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 11.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 40.5% (2017 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:
1% (2017 est.)
country comparison to the world: 154
[see also: Industrial production growth rate country ranks ]

Labor force:
278,500 (2016 est.)
country comparison to the world: 166
[see also: Labor force country ranks ]

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

Unemployment rate:
6.5% (2014 est.)
country comparison to the world: 96
[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 ]

Distribution of family income - Gini index:
55.9 (2004 est.)
country comparison to the world: 8
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 165.2 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 207.3 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
25.3% (of GDP) (2017 est.)
country comparison to the world: 117
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.5% (of GDP) (2017 est.)
country comparison to the world: 188
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
32.4% of GDP (2017 est.)
27.7% of GDP (2016 est.)
country comparison to the world: 160
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1% (2017 est.)
1.8% (2016 est.)
country comparison to the world: 50
[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: 120
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.5% (31 December 2017 est.)
10.5% (31 December 2016 est.)
country comparison to the world: 81
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$200.8 million (31 December 2017 est.)
$180.5 million (31 December 2016 est.)
country comparison to the world: 183
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$200.8 million (31 December 2017 est.)
$180.5 million (31 December 2016 est.)
country comparison to the world: 186
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$208.5 million (31 December 2017 est.)
$183.9 million (31 December 2016 est.)
country comparison to the world: 184
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$27 million (2017 est.)
-$45 million (2016 est.)
country comparison to the world: 74
[see also: Current account balance country ranks ]

Exports:
$18.9 million (2017 est.)
$17.9 million (2016 est.)
country comparison to the world: 212
[see also: Exports country ranks ]

Exports - partners:
France 36.5%, India 12.2%, Germany 8.2%, Pakistan 6.3%, Switzerland 5.8%, South Korea 4.7%, Russia 4.3% (2017)

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

Imports:
$207.8 million (2017 est.)
$189.9 million (2016 est.)
country comparison to the world: 208
[see also: Imports country ranks ]

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

Imports - partners:
UAE 32.8%, France 17.3%, China 13.2%, Madagascar 6.1%, Pakistan 4.5%, India 4.3% (2017)

Reserves of foreign exchange and gold:
$208 million (31 December 2017 est.)
$159.5 million (31 December 2016 est.)
country comparison to the world: 173
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$199.8 million (31 December 2017 est.)
$132 million (31 December 2016 est.)
country comparison to the world: 189
[see also: Debt - external country ranks ]

Exchange rates:
Comoran francs (KMF) per US dollar -
458.2 (2017 est.)
444.76 (2016 est.)
444.76 (2015 est.)
443.6 (2014 est.)
370.81 (2013 est.)


NOTE: 1) The information regarding Comoros on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 2019 information contained here. All suggestions for corrections of any errors about Comoros Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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