Economy Of Comoros - Comoros Information

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Economy Of Comoros
Comoros Information - Country Guides

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, 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, to privatize commercial and industrial enterprises, to improve health services, to diversify exports, to promote tourism, and to 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 - $441 million (2002 est.)
GDP - real growth rate	2% (2002 est.)
GDP - per capita	purchasing power parity - $700 (2002 est.)
GDP - composition by sector	agriculture: 40% industry: 4% services: 56% (2001 est.)
Investment gross fixed
Population below poverty line	60% (2002 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	3.5% (2001 est.)
Labor force	144,500 (1996 est.)
Labor force by occupation	agriculture 80%
Unemployment rate	20% (1996 est.)
Budget	revenues: $27.6 million expenditures: na, including capital expenditures of na (2001 est.)
Public debt
Agriculture products	vanilla, cloves, perfume essences, copra, coconuts, bananas, cassava (tapioca)
Industries	tourism, perfume distillation
Industrial production growth rate	-2% (1999 est.)
Electricity production	21.27 million kWh (2001)
Electricity production by source	fossil fuel: 90.6% hydro: 9.4% other: 0% (2001) nuclear: 0%
Electricity consumption	19.78 million kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	700 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
Exports	$28 million f.o.b. (2002 est.)
Exports commodities	vanilla, ylang-ylang, cloves, perfume oil, copra
Exports partners	France 46.9%, Germany 18.8%, US 12.5% (2003)
Imports	$88 million f.o.b. (2002 est.)
Imports commodities	rice and other foodstuffs, consumer goods; petroleum products, cement, transport equipment
Imports partners	France 31.6%, Japan 13.7%, South Africa 10.3%, Kenya 5.1%, UAE 5.1%, Thailand 4.3% (2003)
Reserves of foreign exchange gold
Debt external	$232 million (2000 est.)
Economic aid recipient	$10 million (2001 est.)
Currency	Comoran franc (KMF)
Currency code	KMF
Exchange rates	Comoran francs (KMF) per US dollar - 435.9 (2003), 522.741 (2002), 549.779 (2001), 533.982 (2000), 461.775 (1999) note: prior to january 1999, the official rate was pegged to the french franc at 75 comoran francs per french franc; since 1 january 1999, the comoran franc is pegged to the euro at a rate of 491.9677 comoran francs per euro
Fiscal year	calendar year

Comoran Flag Map Of Comoros

Economy Of ComorosComoros Information - Country Guides

Economy Of Comoros
Comoros Information - Country Guides