Comoros Economics and Business

Business

According to COUNTRYAAH, the Comoros are a poor agricultural country. There are serious problems with, among other things, overpopulation, chronically high unemployment, emigration of highly educated to the Gulf states and a poorly developed transport network. A chronic deficit in the state budget and in the trade balance in 1991 led to a number of tightening of the economy, including privatization, investment in export industries and cuts in the public sector. The measures had only marginal effects.

Comoros GDP (Nominal, $USD) 2003-2017

In 2014, the government launched a five-year strategy for economic growth. But despite the write-off of the International Monetary Fund and new development plans, the country’s economic conditions are poor.

More than half the population is employed in agriculture, which has a significant element of forage crops, including vanilla (Comoros is the world’s second largest producer), cloves and ilang-ilang (perfume plants), which are grown for export to the developing countries. They also grow cassava and rice and keep cows, goats and sheep, but more than half of food consumption is covered through imports.

  • According to AllCityPopulation, the capital city of Comoros is Moroni with a population of 55,900. Other major cities include Mutsamudu (on Anjouan), Fomboni (on Mohéli).

The small industry that exists is also mainly focused on the processing of agricultural products. There are oil and soap industries, vanilla production plants and sawmills. Imports are dominated by rice, fuel, building materials and medicines. France is the completely dominant trading partner.

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