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: bananas, coconuts, cassava, yams, maize, taro, milk, tomatoes, sweet potatoes, pulses (2023).
More about the economy of Comoros
| Labor force | 276,400 (2024 est.) |
|---|---|
| Industrial production growth rate | 3.8% (2024 est.) |
| Industries | fishing, tourism, perfume distillation |
| Population below poverty line | 44.8% (2020 est.) |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Comoran francs (KMF) per US dollar - |
| Exchange rates 2024 | 454.524 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2023 | $267.652 million (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $323.946 million (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $324.561 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $283.746 million (2022 est.) |
| Current account balance | |
| Current account balance 2023 | -$24.621 million (2023 est.) |
| Current account balance 2022 | -$5.248 million (2022 est.) |
| Current account balance 2021 | -$4.076 million (2021 est.) |
| Public debt | |
| Public debt 2016 | 27.7% of GDP (2016 est.) |
| Budget | |
| Revenues | $212.551 million (2023 est.) |
| Expenditures | $230.338 million (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 21.4% of GDP (2023 est.) |
| Remittances 2022 | 22% of GDP (2022 est.) |
| Remittances 2021 | 22.2% of GDP (2021 est.) |
| Imports | |
| Imports 2023 | $504.036 million (2023 est.) |
| Imports 2022 | $480.268 million (2022 est.) |
| Imports 2021 | $415.965 million (2021 est.) |
| Imports (partners) | China 24%, UAE 21%, Tanzania 12%, France 7%, India 6% (2023) |
| Comodities Imports force | refined petroleum, poultry, rice, flavored water, additive manufacturing machines (2023) |
| Exports | |
| Imports 2023 | $504.036 million (2023 est.) |
| Imports 2022 | $480.268 million (2022 est.) |
| Imports 2021 | $415.965 million (2021 est.) |
| Exports (partners) | Indonesia 25%, India 23%, Turkey 16%, UAE 11%, USA 3% (2023) |
| Comodities Exports force | cloves, ships, essential oils, vanilla, scrap iron (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $3.092 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $2.99 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $2.901 billion (2022 est.) |
| GDP (official exchange rate) | $1.546 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $3,600 (2024 est.) |
| Real GDP per capita 2023 | $3,500 (2023 est.) |
| Real GDP per capita 2022 | $3,500 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 36.6% (2024 est.) |
| Industry | 9.6% (2024 est.) |
| Services | 50.1% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 103.6% (2024 est.) |
| Government consumption | 9.2% (2024 est.) |
| Investment in fixed capital | 11.7% (2024 est.) |
| Investment in inventories | 0% (2024 est.) |
| Exports of goods and services | 9.9% (2024 est.) |
| Imports of goods and services | -34.5% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 3.9% (2024 est.) |
| Unemployment rate 2023 | 3.8% (2023 est.) |
| Unemployment rate 2022 | 3.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 8.9% (2024 est.) |
| Male | 8.3% (2024 est.) |
| Female | 9.6% (2024 est.) |
All Important Facts about Comoros
Want to know more about Comoros? Check all different factbooks for Comoros below.
