unbekannter Gast

Comoros: Economy#

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, contributes 50% to GDP, employs 80% of the labor force, and provides most of the exports. Export income is heavily reliant on the three main crops of vanilla, cloves, and ylang-ylang; and Comoros' export earnings are easily disrupted by disasters such as fires. 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 - lacks a comprehensive strategy to attract foreign investment and 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. Political problems have inhibited growth. Remittances from 200,000 Comorans abroad help supplement GDP. In December 2012, IMF and the World Bank's International Development Association supported $176 million in debt relief for Comoros, resulting in a 59% reduction of its future external debt service over a period of 40 years.

Economic Facts#

GDP (purchasing power parity)$911 million (2013 est.)
$879.9 million (2012 est.)
$855.1 million (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate3.5% (2013 est.)
3% (2012 est.)
2.2% (2011 est.)
GDP - per capita (PPP)$1,300 (2013 est.)
$1,300 (2012 est.)
$1,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 51%
industry: 10%
services: 39% (2012 est.)
Population below poverty line60% (2002 est.)
Household income or consumption by percentage sharelowest 10%: 0.9%
highest 10%: 55.2% (2004)
Labor force - by occupationagriculture: 80%
industry and services: 20% (1996 est.)
Exports - commoditiesvanilla, ylang-ylang (perfume essence), cloves, copra
Exports - partnersNetherlands 58.6%, Singapore 10.6%, Turkey 9.3%, France 5.6%, India 5% (2012)
Agriculture - productsvanilla, cloves, ylang-ylang (perfume essence), copra, coconuts, bananas, cassava (manioc)
Budgetrevenues: $170.1 million
expenditures: $167.4 million (2013 est.)
Imports - commoditiesrice and other foodstuffs, consumer goods, petroleum products, cement, transport equipment
Imports - partnersPakistan 15.7%, France 14.2%, UAE 11.5%, India 8.5%, China 6.7%, Kenya 5.3%, Singapore 5.2% (2012)
Exchange ratesComoran francs (KMF) per US dollar -
378.7 (2013 est.)
382.9 (2012 est.)
371.46 (2010 est.)
Exports$19.7 million (2013 est.)
$19.6 million (2012 est.)
Debt - external$142.9 million (31 December 2013 est.)
$136.1 million (31 December 2012 est.)
Fiscal yearcalendar year
Imports$208.8 million (2013 est.)
$208 million (2012 est.)
Industrial production growth rate4% (2013 est.)
Industriesfishing, tourism, perfume distillation
Inflation rate (consumer prices)2.5% (2013 est.)
6.3% (2012 est.)
Labor force233,500 (2011 est.)
Unemployment rate20% (1996 est.)
Current account balance-$45.2 million (2013 est.)
-$40.9 million (2012 est.)
GDP (official exchange rate)$658 million (2013 est.)
Central bank discount rate1.93% (31 December 2010 est.)
2.21% (31 December 2009 est.)
Commercial bank prime lending rate9% (31 December 2013 est.)
10.5% (31 December 2012 est.)
Stock of domestic credit$156.8 million (31 December 2013 est.)
$132.4 million (31 December 2012 est.)
Stock of narrow money$162.2 million (31 December 2013 est.)
$151.6 million (31 December 2012 est.)
Stock of broad money$261.6 million (31 December 2013 est.)
$234.4 million (31 December 2012 est.)
Taxes and other revenues25.8% of GDP (2013 est.)
Budget surplus (+) or deficit (-)0.4% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 97.2%
government consumption: 17.4%
investment in fixed capital: 21.6%
investment in inventories: 5.1%
exports of goods and services: 15%
imports of goods and services: -56.4%
(2013 est.)