Comoros Economy - 2024

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

Real GDP growth rate

2.11% (2021 est.)
-0.2% (2020 est.)
1.76% (2019 est.)

Real GDP per capita

$3,200 (2021 est.)
$3,200 (2020 est.)
$3,300 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$1.186 billion (2019 est.)

Inflation rate (consumer prices)

1% (2017 est.)
1.8% (2016 est.)

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.)

Labor force

219,900 (2021 est.)

Unemployment rate

9.45% (2021 est.)
9.22% (2020 est.)
8.08% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 21.7% (2021 est.)

male: 21.8%

female: 21.5%

Population below poverty line

42.4% (2013 est.)

Gini Index coefficient - distribution of family income

45.3 (2014 est.)

Household income or consumption by percentage share

lowest 10%: 0.9%

highest 10%: 55.2% (2004)

Remittances

18.56% of GDP (2020 est.)
14.1% of GDP (2019 est.)
14.52% of GDP (2018 est.)

Budget

revenues: $223 million (2018 est.)

expenditures: $228 million (2018 est.)

Budget surplus (+) or deficit (-)

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

Public debt

32.4% of GDP (2017 est.)
27.7% of GDP (2016 est.)

Taxes and other revenues

25.3% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

$6.145 million (2021 est.)
-$22.048 million (2020 est.)
-$39.814 million (2019 est.)

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.

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.)

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.)

Debt - external

$199.8 million (31 December 2017 est.)
$132 million (31 December 2016 est.)

Exchange rates

Comoran francs (KMF) per US dollar -

Exchange rates:
415.956 (2021 est.)
430.721 (2020 est.)
439.463 (2019 est.)
416.585 (2018 est.)
435.493 (2017 est.)