Comoros - Economy
How is the economy of Comoros? Based on the information we have, Comoros has a small trade-based island economy; declining remittances; new structural and fiscal reforms; adverse cyclone and COVID-19 impacts; manageable debts; fragile liquidity environment; large foreign direct investment; state-owned enterprises suffering. Key agricultural products in this country include: coconuts, bananas, cassava, yams, maize, taro, milk, tomatoes, sweet potatoes, pulses (2022).
More about the economy of Comoros
| Labor force | 234,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 0% (2023 est.) |
| Industries | fishing, tourism, perfume distillation |
| Population below poverty line | |
| Taxes and other revenues | 25.3% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Comoran francs (KMF) per US dollar - |
| Exchange rates 2023 | 454.991 (2023 est.) |
| Exchange rates 2022 | 467.184 (2022 est.) |
| Exchange rates 2021 | 415.956 (2021 est.) |
| Exchange rates 2020 | 430.721 (2020 est.) |
| Exchange rates 2019 | 439.463 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $233.947 million (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $324.561 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $283.746 million (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $329.672 million (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$6.614 million (2022 est.) |
| Current account balance 2021 | -$4.076 million (2021 est.) |
| Current account balance 2020 | -$22.048 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 32.4% of GDP (2017 est.) |
| Budget | |
| Revenues | $223 million (2018 est.) |
| Expenditures | $228 million (2018 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 20.77% of GDP (2023 est.) |
| Remittances 2022 | 22.68% of GDP (2022 est.) |
| Remittances 2021 | 22.22% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.6% (2014 est.) |
| Highest 10% | 33.7% (2014 est.) |
| Imports | |
| Imports 2022 | $479.94 million (2022 est.) |
| Imports 2021 | $415.965 million (2021 est.) |
| Imports 2020 | $343.608 million (2020 est.) |
| Imports (partners) | UAE 25%, China 19%, India 12%, France 8%, Tanzania 7% (2022) |
| Comodities Imports force | rice, refined petroleum, poultry, water, synthetic fabric (2022) |
| Exports | |
| Imports 2022 | $479.94 million (2022 est.) |
| Imports 2021 | $415.965 million (2021 est.) |
| Imports 2020 | $343.608 million (2020 est.) |
| Exports (partners) | Turkey 23%, India 19%, UAE 9%, US 9%, Indonesia 8% (2022) |
| Comodities Exports force | cloves, ships, vanilla, essential oils, scrap iron (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $2.961 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $2.883 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $2.816 billion (2021 est.) |
| GDP (official exchange rate) | $1.352 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $3,500 (2023 est.) |
| Real GDP per capita 2022 | $3,400 (2022 est.) |
| Real GDP per capita 2021 | $3,400 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 37.2% (2023 est.) |
| Industry | 9% (2023 est.) |
| Services | 49.6% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 100.1% (2023 est.) |
| Government consumption | 9.3% (2023 est.) |
| Investment in fixed capital | 12.7% (2023 est.) |
| Exports of goods and services | 13% (2023 est.) |
| Imports of goods and services | -35% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.8% (2023 est.) |
| Unemployment rate 2022 | 5.85% (2022 est.) |
| Unemployment rate 2021 | 5.86% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 10.9% (2023 est.) |
| Male | 9.9% (2023 est.) |
| Female | 12.2% (2023 est.) |
All Important Facts about Comoros
Want to know more about Comoros? Check all different factbooks for Comoros below.
