Overview: One of the world's poorest countries, the Comoros is made up of several islands that have poor transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a low level of economic activity, high unemployment, and a heavy dependence on foreign technical assistance. Agriculture, including fishing and forestry, is the leading sector of the economy. It contributes about 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production, and rice, the main staple, accounts for 90% of imports. During the period 1982-86 the industrial sector grew at an annual average rate of 5.3%, but its contribution to GDP was less than 4% in 1986. Despite major investment in the tourist industry, which accounts for about 25% of GDP, growth has stagnated since 1983.

GDP: $163 million, per capita $390; real growth rate 2.1% (1986 est.)

Inflation rate (consumer prices): 8.3% (1986)

Unemployment rate: over 20% (1986)

Budget: revenues $66.6 million; expenditures $69.9 million, including capital expenditures of $34.1 million (1987)

Exports: $39 million (f.o.b., 1986); @m5commodities--vanilla, cloves, perfume oil, copra; @m5partners--US 53%, France 41%, Africa 4%, FRG 2%

Imports: $41 million (c.i.f., 1986); @m5commodities--rice and other foodstuffs, cement, petroleum products, consumer goods; @m5partners--Europe 62% (France 22%, other 40%), Africa 5%, Pakistan, China

External debt: $238 million (December 1988)

Industrial production: growth rate 8.1% (1986)

Electricity: 16,000 kW capacity; 24 million kWh produced, 55 kWh per capita (1988)

Industries: perfume distillation

Agriculture: food crops--rice, manioc, maize, fruits, vegetables, coconuts, cinnamon, yams; export crops--essential oils for perfumes (mainly ylang-ylang), vanilla, copra, cloves

Aid: NA

Currency: Comoran franc (plural--francs); 1 Comoran franc (CF) = 100 centimes

Exchange rates: Comoran francs (CF) per US$1--312.52 (January 1989), 297.85 (1988), 300.54 (1987), 346.30 (1986), 449.26 (1985); linked to the French franc at 50 to 1 French franc

Fiscal year: calendar year

NOTE: The information regarding Comoros on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Comoros Economy 1989 information contained here. All suggestions for corrections of any errors about Comoros Economy 1989 should be addressed to the CIA.