|
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.) |
|
Population
below poverty line: |
60% (2002 est.)
|
|
Household
income or consumption by percentage share: |
lowest 10%:
NA
highest 10%: NA |
|
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.) |
|
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) |
|
Exports: |
$28 million
f.o.b. (2002 est.) |
|
Exports -
commodities: |
vanilla, ylang-ylang,
cloves, perfume oil, copra |
|
Exports -
partners: |
France 45.5%, Germany
18.2%, US 12.1%, Madagascar 6.1% (2003 est.) |
|
Imports: |
$88 million
f.o.b. (2002 est.) |
|
Imports -
commodities: |
rice and other
foodstuffs, consumer goods; petroleum products, cement, transport
equipment |
|
Imports -
partners: |
France 32.7%, Japan
14.2%, South Africa 10.6%, Kenya 5.3%, UAE 5.3%, Thailand 4.4% (2003
est.) |
|
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
|