Comoros

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Introduction - Comoros:
Location - Comoros:
People - Comoros:
Government - Comoros:
Economy - Comoros:

Economy overview

One of the worlds poorest countries, Comoros is made up of three islands that have 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, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, 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 the bulk of imports. The government - which is hampered by internal political disputes - is struggling to upgrade education and technical training, privatize commercial and industrial enterprises, improve health services, diversify exports, promote tourism, and reduce the high population growth rate. Increased foreign support is essential if the goal of 4% annual GDP growth is to be met. Remittances from 150,000 Comorans abroad help supplement GDP.

Gdp purchasing power parity

$1.275 billion (2006 est.)

Gdp official exchange rate

$402 million (2005 est.)

Gdp real growth rate

3% (2005 est.)

Gdp per capita ppp

$600 (2005 est.)

Gdp composition by sector

agriculture: 40%
industry: 4%
services: 56% (2001 est.)

Labor force

144,500 (1996 est.)

Labor force by occupation

agriculture: 80%
industry and services: 20%

Unemployment rate

20% (1996 est.)

Population below poverty line

60% (2002 est.)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

3% (2005 est.)

Budget

revenues: $27.6 million
expenditures: $NA (2001 est.)

Agriculture products

vanilla, cloves, perfume essences, copra, coconuts, bananas, cassava (tapioca)

Industries

fishing, tourism, perfume distillation

Industrial production growth rate

-2% (1999 est.)

Electricity production

19 million kWh (2004)

Electricity consumption

17.67 million kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004)

Oil consumption

720 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Current account balance

-$17 million (2005 est.)

Exports

$34 million f.o.b. (2004 est.)

Exports commodities

vanilla, ylang-ylang (perfume essence), cloves, copra

Exports partners

Netherlands 35.7%, France 18.2%, Italy 12.7%, Singapore 7.8%, Turkey 4.9%, US 4.5% (2006)

Imports

$115 million f.o.b. (2004 est.)

Imports commodities

rice and other foodstuffs, consumer goods, petroleum products, cement, transport equipment

Imports partners

France 25.1%, UAE 10%, South Africa 6.5%, Pakistan 6.4%, Kenya 5.1%, China 4.8%, India 4.4%, Italy 4.2% (2006)

Debt external

$232 million (2000 est.)

Economic aid recipient

$24 million (2003 est.)

Currency code

Comoran franc (KMF)

Exchange rates

Comoran francs (KMF) per US dollar - 392.03 (2006), 395.6 (2005), 396.21 (2004), 435.9 (2003), 522.74 (2002)
note: the Comoran franc is pegged to the euro at a rate of 491.9677 Comoran francs per euro

Communications - Comoros:
Transportation - Comoros:
Military - Comoros:
This page was last updated on 16 September, 2007
Source: CIA >>>


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