Comoros

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. 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, which has averaged only about 1% in 2006-09. Remittances from 150,000 Comorans abroad help supplement GDP. In September 2009 the IMF approved Comoros for a three-year $21 million loan. The IMF gave generally positive reports of the country’s program performance as of October 2010. The African Development Bank approved a $34.6 million debt-relief package loan for Comoros in September 2010, and Comoros will attempt to qualifry for debt relief in 2012 under the IMF and World Bank’s Heavily Indebted Poor Countries (HIPC) initiative.

$789.4 million (2010 est.)

$776.2 million (2009 est.)

$762.5 million (2008 est.)

$557 million (2010 est.)

1.7% (2010 est.)

1.8% (2009 est.)

1% (2008 est.)

$1,000 (2010 est.)

$1,000 (2009 est.)

$1,000 (2008 est.)

268,500 (2007 est.)

20% (1996 est.)

60% (2002 est.)

3% (2007 est.)

2.21% (31 December 2009)

5.36% (31 December 2008)

10.5% (31 December 2009 est.)

10.5% (31 December 2008 est.)

$104.7 million (31 December 2009)

$98.36 million (31 December 2008)

$168.6 million (31 December 2009)

$143.7 million (31 December 2008)

$79.75 million (31 December 2008 est.)

$60.57 million (31 December 2007 est.)

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

fishing, tourism, perfume distillation

NA%

22 million kWh (2007 est.)

20.46 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

1,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

766 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

$8 million (2007 est.)

$32 million (2006)

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

Turkey 25.2%, France 20.44%, Singapore 17.44%, Algeria 8.02%, Italy 6.09%, Saudi Arabia 5% (2009)

$143 million (2006)

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

France 15.5%, China 14.66%, India 10.55%, UAE 7.88%, Pakistan 5.69%, Kenya 4.51% (2009)

$232 million (2000 est.)

Comoran francs (KMF) per US dollar - 361.4 (2007), 391.8 (2006), 395.6 (2005), 396.21 (2004), 435.9 (2003)