- Economy Overview: One of the world's poorest countries, 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: $207 million, per capita $475; real growth rate 0.1% (1988 est.)
Inflation rate (consumer prices): 8.3% (1986)
Unemployment rate: over 16% (1988 est.)
Budget: revenues $75.2 million; expenditures $77.9 million, including capital expenditures of $4.8 million (1988 est.)
Exports: $12 million (f.o.b., 1987); commodities—vanilla, cloves, perfume oil, copra; partners—US 53%, France 41%, Africa 4%, FRG 2%
Imports: $52 million (c.i.f., 1987); commodities—rice and other foodstuffs, cement, petroleum products, consumer goods; partners—Europe 62% (France 22%, other 40%), Africa 5%, Pakistan, China
External debt: $238 million (December 1988)
Industrial production: growth rate 3.4% (1988 est.)
Electricity: 16,000 kW capacity; 24 million kWh produced, 55 kWh per capita (1989)