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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: 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: Current account balance: Exports: Exports - partners: Exports - commodities: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$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 ]
$652 million
(2017 est.)
[see also: GDP (official exchange rate) country ranks ]
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 ]
$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 ]
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 ]
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 ]
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 ]
vanilla, cloves, ylang-ylang (perfume essence), coconuts, bananas, cassava (manioc)
fishing, tourism, perfume distillation
1%
(2017 est.)
country comparison to the world:
154
[see also: Industrial production growth rate country ranks ]
278,500
(2016 est.)
country comparison to the world:
166
[see also: Labor force country ranks ]
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.)
6.5%
(2014 est.)
country comparison to the world:
96
[see also: Unemployment rate country ranks ]
44.8%
(2004 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%
(2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
55.9
(2004 est.)
country comparison to the world:
8
[see also: Distribution of family income - Gini index country ranks ]
revenues: 165.2 million
(2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 207.3 million
(2017 est.)
[see also: Budget - expenditures country ranks ]
25.3% (of GDP)
(2017 est.)
country comparison to the world:
117
[see also: Taxes and other revenues country ranks ]
-6.5% (of GDP)
(2017 est.)
country comparison to the world:
188
[see also: Budget surplus (+) or deficit (-) country ranks ]
32.4% of GDP
(2017 est.)
27.7% of GDP
(2016 est.)
country comparison to the world:
160
[see also: Public debt country ranks ]
calendar year
1%
(2017 est.)
1.8%
(2016 est.)
country comparison to the world:
50
[see also: Inflation rate (consumer prices) country ranks ]
1.93%
(31 December 2010)
2.21%
(31 December 2009)
country comparison to the world:
120
[see also: Central bank discount rate country ranks ]
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 ]
$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 ]
$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 ]
$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 ]
-$27 million
(2017 est.)
-$45 million
(2016 est.)
country comparison to the world:
74
[see also: Current account balance country ranks ]
$18.9 million
(2017 est.)
$17.9 million
(2016 est.)
country comparison to the world:
212
[see also: Exports country ranks ]
France 36.5%, India 12.2%, Germany 8.2%, Pakistan 6.3%, Switzerland 5.8%, South Korea 4.7%, Russia 4.3%
(2017)
vanilla, ylang-ylang (perfume essence), cloves
$207.8 million
(2017 est.)
$189.9 million
(2016 est.)
country comparison to the world:
208
[see also: Imports country ranks ]
rice and other foodstuffs, consumer goods, petroleum products, cement and construction materials, transport equipment
UAE 32.8%, France 17.3%, China 13.2%, Madagascar 6.1%, Pakistan 4.5%, India 4.3%
(2017)
$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 ]
$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 ]
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.)