Economy overview: The Comoros is one of the poorest countries in the world; it consists of three islands with poor transport links, a young and rapidly growing population and few natural resources. The low level of education of workers is one of the reasons for the low efficiency of the economy, high unemployment and the country’s heavy dependence on foreign financial and technical assistance. The agricultural sector, which includes fishing, hunting and forestry, occupies a leading position in the economy. It contributes 40% to GDP, employs 80% of the labor force, and its products make up the bulk of exports. The country is not able to fully provide itself with food; Rice, which is the main consumer product, is also the main imported commodity. The government is trying to improve the education system, especially professional, to privatize commercial and industrial enterprises, improve health care, expand the range of exported goods, develop the tourism business and reduce the rate of population growth. Achieving 4% annual GDP growth requires continued foreign aid. Remittances from the 150,000 Comorians working abroad are a significant addition to GDP. See businesscarriers.com to know more about Comoros Economics and Business.
GDP: at purchasing power parity – $419 million (2000 est.).
Real GDP growth rate: 0.5% (2000 est.).
GDP per capita: at purchasing power parity – $720 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 40%; industry: 4%; services: 56% (2000 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 3.5% (1999).
Labor force: 144,500 people (1996 est.).
Employment structure: agriculture 80%.
Unemployment rate: 20% (1996 est.).
Budget: revenues: $48 million; expenditures: $53 million, including capital investments – NA (1997).
Spheres of economy: tourism, production of perfume essence, textile industry, furniture industry, production of building materials, production of soft drinks.
Growth in industrial production: -2% (1999 est.).
Electricity generation: 17 million kWh (1998).
Sources of electricity generation: fossil fuels: 88.24%; hydropower: 11.76%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 15.8 million kWh (1999).
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: vanilla, cloves (spice), perfume essences, copra, coconuts, bananas, cassava (tapioca).
Exports: $7.9 million (free on board, 1999 est.)
Exports: vanilla, fragrant cananga, cloves, perfume oils, copra.
Export partners: France 50%, Germany 25% (1998).
Imports: $55.1 million (free on board, 1999 est.)
Imports: rice and other foodstuffs, consumer goods; oil products, cement, transport equipment.
Import partners: France 38%, Pakistan 13%, South Africa 8%, Kenya 8% (1998).
External debt: $197 million (1997 est.). Economic aid recipient: $28.1 million (1997)
Economic aid donor:
Currency: Comorian franc.
Currency code: KMF.
Exchange rate: KMF/USD – 524.41 (January 2001), 533.98 (2000), 461.77 (1999), 442.46 (1998), 437.75 (1997), 383.66 (1996); note: before January 1999, the official exchange rate of the Comorian franc against the French franc was 75 KMF per French franc; since January 1, 1999, the exchange rate of the Comorian franc against the euro is 491.9677 Comorian francs per euro.
Fiscal year: calendar year.
Telecommunications Telephone lines: 6,000 (1997).
Mobile cellular phones: no data available.
Telephone system: low power microwave radio relay and high frequency radiotelephone communication stations; internal: high-frequency radiotelephony and microwave radio relay; international: high-frequency radiotelephony with Madagascar and Réunion.
Broadcast stations: AM – 1, FM – 2, shortwave – 1 (1998).
Radio receivers: 90,000 (1997). I
Television broadcast stations: 0 (1998).
Televisions: 1,000 (1997).
Internet country code: km
Internet service providers: 1 (2000).
Number of users: 800 (2000).
Transport Railways: 0 km.
Roads: total length: 880 km; coated: 673 km; unpaved: 207 km (1996 est.).
Ports and harbours: Moroni, Mutsambudu, Fomboni.
Merchant fleet: total: 2 vessels (displacement 1,000 tons or more) with a total displacement of 19,122 gross register tons / 29,817 long tons of gross tonnage; different types of ships: cargo ships -2 (est. 2000).
Airports: 4 (2000 est.).
Airports with paved runways: total: 4; from 2438 to 3047 m: 1; 914 to 1523 m: 3 (2000 est.).
Airports with unpaved runways:
Branches of the Armed Forces: Comorian Security Forces.
Total military manpower: men 15 to 49: 141,120 (2001 est.).
Eligible for military service: males aged 15 to 49: 83,920 (2001 est.).
Number of persons reaching military age each year:
Military spending in dollar terms: not available.
Military spending as part of GDP: no data available.
International issues International disputes: Comoros claims French-owned island of Mayotte; the islands of Anjouan (Ndzuani) and Moheli (Mwali) declared their secession from the republic.