Economy - overview One of the world's 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, 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 the bulk 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, to promote tourism, and to reduce the high population growth rate. Continued foreign support is essential if the goal of 4% annual GDP growth is to be maintained in the late 1990s.

GDP purchasing power parity - $400 million (1997 est.)

GDP - real growth rate 3.5% (1997 est.)

GDP - per capita purchasing power parity - $685 (1997 est.)

GDP - composition by sector
agriculture: 40%
industry: 14%
services: 46% (1996 est.)

Inflation rate - consumer price index 3.5% (1996 est.)

Labor force
total: 144,500 (1996 est.)
by occupation: agriculture 80%, government 3%

Unemployment rate 20% (1996 est.)

Budget
revenues: $55 million
expenditures: $71 million, including capital expenditures of $15 million (1995 est.)

Industries tourism, perfume distillation, textiles, furniture, jewelry, construction materials, soft drinks

Industrial production growth rate -6.5% (1989 est.)

Electricity - capacity 9,750 kW (1996)

Electricity - production 31 million kWh (1996)

Electricity - consumption per capita 38 kWh (1996)

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

Exports
total value: $11.4 million (f.o.b., 1996 est.)
commodities: vanilla, ylang-ylang, cloves, perfume oil, copra
partners: France 54%, Germany 18%, US 18%

Imports
total value: $70 million (f.o.b., 1996 est.)
commodities: rice and other foodstuffs, consumer goods; petroleum products, cement, transport equipment
partners: France 60%, South Africa 10%, Kenya 5%, Singapore 4%

Debt - external $219 million (1996 est.)

Economic aid
recipient: ODA, $NA

Currency 1 Comoran franc (CF) = 100 centimes

Exchange rates Comoran francs (CF) per US$1 - 456.27 (January 1998), 437.75 (1997), 383.66 (1996), 374.36 (1995), 416.40 (1994), 283.16 (1993)
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

NOTE: The information regarding Comoros on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 1998 information contained here. All suggestions for corrections of any errors about Comoros Economy 1998 should be addressed to the CIA.