Basic Country Facts

Economy Economic overview: One of the world's poorest countries, Comoros is made up of several islands that have poor 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, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, is the leading sector of the economy. It contributes 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production; rice, the main staple, accounts for 90% of imports. The government is struggling to upgrade education and technical training, to privatize commercial and industrial enterprises, to improve health services, to diversify exports, and to reduce the high population growth rate. Continued foreign support is essential if the goal of 4% annual GDP growth is to be reached in the late 1990s. GDP: purchasing power parity - $370 million (1994 est.) GDP real growth rate: 0.9% (1994 est.) GDP per capita: $700 (1994 est.) GDP composition by sector: agriculture: NA% industry: NA% services: NA% Inflation rate (consumer prices): 15% (1993 est.) Labor force: 140,000 (1982) by occupation: agriculture 80%, government 3% Unemployment rate: 15.8% (1989) Budget: revenues: $83 million expenditures: $92 million, including capital expenditures of $32 million (1992) Industries: tourism, perfume distillation, textiles, furniture, jewelry, construction materials, soft drinks Industrial production growth rate: -6.5% (1989 est.) Electricity: capacity: 16,000 kW production: 17 million kWh consumption per capita: 27 kWh (1993) Agriculture: vanilla, cloves, perfume essences, copra, coconuts, bananas, cassava (tapioca) Exports: $13.7 million (f.o.b., 1993 est.) commodities: vanilla, ylang-ylang, cloves, perfume oil, copra partners: US 44%, France 40%, Germany 6%, Africa 5% (1992) Imports: $40.9 million (f.o.b., 1993 est.) commodities: rice and other foodstuffs, petroleum products, cement, consumer goods partners: France 34%, South Africa 14%, Kenya 8%, Japan 4% (1992) External debt: $160 million (1992 est.) Economic aid: recipient: ODA, $NA Currency: 1 Comoran franc (CF) = 100 centimes Exchange rates: Comoran francs (CF) per US$1 - 375.42 (January 1996), 374.36 (1995), 416.40 (1994), 283.16 (1993), 264.69 (1992), 282.11 (1991) note: beginning 12 January 1994, the Comoran franc was devalued to 75 per French franc from 50 per French franc at which it had been fixed since 1948 Fiscal year: calendar year