Economy - overview One of the world's poorest countries, Comoros is made up of three islandsthat have inadequate transportation links, a young and rapidly increasingpopulation, and few natural resources. The low educational level of the laborforce 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 nearly 40% to GDP, employs 80% of the labor force, and providesmost of the exports. The country is not self-sufficient in food production;rice, the main staple, accounts for the bulk of imports. The government isstruggling to upgrade education and technical training, to privatize commercialand industrial enterprises, to improve health services, to diversify exports,to promote tourism, and to reduce the high population growth rate. Continuedforeign support is essential if the goal of 4% annual GDP growth is to bereached in the late 1990s.

GDP purchasing power parity - $370 million (1995 est.)

GDP - real growth rate -2.3% (1995 est.)

GDP - per capita purchasing power parity - $650 (1995 est.)

GDP - composition by sector
agriculture: 39%
industry: 13%
services : 48% (1995 est.)

Inflation rate - consumer price index 7.1% (1995 est.)

Labor force
total : 140,000 (1982)
by occupation: agriculture 80%, government 3%

Unemployment rate NA%

Budget
revenues : $83 million
expenditures: $92 million, including capital expenditures of $32 million (1992)

Industries tourism, perfume distillation, textiles, furniture, jewelry, constructionmaterials, soft drinks

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

Electricity - capacity 16,000 kW (1991)

Electricity - production 25 million kWh (1991)

Electricity - consumption per capita 52 kWh (1991 est.)

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

Exports
total value: $11.2 million (f.o.b., 1995 est.)
commodities: vanilla, ylang-ylang, cloves, perfume oil, copra
partners: France 54%, Germany 18%, US 18%

Imports
total value: $40.9 million (f.o.b., 1993 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 $189 million (1995 est.)

Economic aid
recipient: ODA, $NA

Currency 1 Comoran franc (CF) = 100 centimes

Exchange rates Comoran francs (CF) per US$1 - 406.27 (January 1997), 383.66 (1996),374.36 (1995), 416.40 (1994), 283.16 (1993), 264.69 (1992)
note: beginning 12 January 1994, the Comoran franc was devalued to 75 perFrench 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 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 1997 information contained here. All suggestions for corrections of any errors about Comoros Economy 1997 should be addressed to the CIA.