Comoros: Economic Outline

Economic Indicators

The Comoran economy is in crisis, due to the country’s political instability, bad public finances management and its natural handicaps. After experiencing a growth of 1.8% in 2009, the country’s economy was stagnating at 2.1% in 2010 and the previsions for the coming years are hardly more optimistic.

Under the agreement with the IMF under the Extended Credit Facility framework, the program implemented by the authorities focuses on the promotion of FDI towards tourism and transportation between islands, increased spending on education and health care, fiscal consolidation, acceleration of measures promoting payroll control and improving the efficiency of public utilities. Improving the business climate is also a priority.

Comoros is one of the poorest countries in the world, with general under-employment and a literacy rate of 68%.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	0.54	0.57	0.58	0.64	0.68
GDP (Constant Prices, Annual % Change)	1.8	2.1	2.2	3.5	4.0
GDP per Capita (USD)	825	862	853e	924	962
General Government Gross Debt (in % of GDP)	55.3	51.8e	47.1e	42.9	39.2
Inflation Rate (%)	4.8	2.7	5.8e	3.3	2.3
Current Account (billions USD)	-0.05	-0.05	-0.08	-0.09	-0.07
Current Account (in % of GDP)	-9.0	-8.6	-13.7e	-10.3	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	282	279	-
Comoro Franc (KMF) - Average Annual Exchange Rate For 1 USD	335.85	354.14	371.46

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	-	-	-
Value Added (in % of GDP)	46.3	12.1	41.6
Value Added (Annual % Change)	4.5	4.5	7.4