Population (2019, millions)¹	0.85
Population Projections (2030, millions)¹	1.1
Economically active population in agriculture (as % of Economically active population)12, 2019	146.1
Capital	Moroni
Surface Area (km²)²	2,235 including Mayotte (374 km2)
Weather¹¹	Tropical; hot and humid in November-May; cooler and drier in May-October; weather in Moroni (altitude 59 metres): hottest month, March, 24-31°C; coldest month, August, 19-27°C; driest month, October, 84 mm average rainfall; wettest month, January, 424 mm average rainfall
Languages³	Official: Arabic, French and Shikomoro/ Comorian (blend of Swahili and Arabic)
Main Religions³	Main: Sunni MuslimOthers: Roman Catholic
Time⁴	Eastern Africa Time (EAT) +0300 UTC
Driving Orientation⁵	Right Side
Internet Country Code⁶	.km
Country Calling Code	+269
Plug, Socket and Voltage⁷	Type C and E - 220V/50Hz
Currency	Comorian Franc (KMF)
Exchange Rate (As of 22nd January 2019, per USD)⁸	433.50
GDP at Market Prices (2018, current, millions of USD)⁹	1,203
GDP Growth (2018, annual %)⁹	2.8
Average GDP Growth (2014-2018, annual %)⁹	2.1
GDP per Capita, PPP (2018, current international $)⁹	2,827
Inflation, Consumer Prices (2014, annual %)⁹	2.85
Average Inflation, Consumer Prices (2010-2014, annual %)⁹	2.99
Total Reserves in Months of Imports (2012)⁹	7.15

Sources:
¹United Nations Population Division, Department of Economic and Social Affairs.
²African Development Bank Data Portal.
³CIA World Factbook.
⁴Time and Date Portal.
⁵Chartsbin Portal, "Worldwide Driving Orientation by Country".
⁶Wikipedia, "List of Internet top-level domains"; and, Internet Assigned Numbers Authority, Root Zone Database.
⁷International Electrotechnical Commission, World Plugs.
⁸Banque Centrale des Comores.
⁹ World Bank, World Development Indicators 2019.
¹¹Economist Intelligence Unit.
¹2AFDB Socio Economic Database

Reasons to Invest in Comoros

• A stable and open country where any investor, without distinction of origin, is free to settle and develop his projects. 
• Privileged access to regional and international markets through its strategic geographical proximity to several regions and markets around the world. Comoros is also participating in important regional market integration initiatives around COMESA, SADC and the East African Community (EAC), thus broadening the scope of its market. 
• An attractive incentives policy based on legal and fiscal measures. 
• An immense natural wealth that is still under-exploited and a unique underwater wealth. 
• Comoros has a large number of high-level managers and experts trained locally or abroad. 
• Exceptional quality of life; with a living environment where tradition and modernity coexist, agreeably complemented by a pleasant and sunny climate, the Union of the Comoros represents the ideal environment for self-realization, work and good business. 

Source: Comoros National Investment Promotion Agency – ANPI Online Portal. 

Population Projections (millions)

Population (2019)	0.85
Population Projections (2030)	1.1

Source: United Nations Population Division, Department of Economic and Social Affairs.

Population Residing in Urban Areas (%)

Population Projections (2019)	29.16
Percentage of Population Residing in Urban Areas (2030)	32.52

Source: United Nations Population Division, Department of Economic and Social Affairs.

Youth Literacy Rates (2017, %)

Youth Literacy Rate, Population 15-24 Years, Both Sexes	78.27
Youth Literacy Rate, Population 15-24 Years, Female	78.30
Youth Literacy Rate, Population 15-24 Years, Male	78.23

Source: United Nations Educational, Scientific and Cultural Organization, UNESCO Institute of Statistics.

Unemployment (2018, % of Total Labour Force, Modeled ILO Estimate)

Unemployment, Total	3.71
Unemployment, Female	4.06
Unemployment, Male	3.44

Source: World Bank, World Development Indicators 2019.

Labour Force (2018, % of Ages 15+, Modeled ILO Estimate)

Labour Force Participation Rate, Total	44.08
Labour Force Participation Rate, Female	37.42
Labour Force Participation Rate, Male	50.69
Labour Force, Total (number)	221,826

Source: World Bank, World Development Indicators 2019.

GDP

	2014	2015	2016	2017	2018
GDP at Market Prices (current, billions of USD)	1,148	0.988	1,024	1,068	1,203
GDP Growth (annual %)	2.1	1.09	2.18	2.70	2.80

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)

Indicator	2018	2019
Agriculture	51.72	51.34
Manufacturing	9.69	10.34
Industry	13.04	13.57
Services	54.24	54.08
Construction	0.50	0.41
Electricity, gas and water	0.66	0.64
Mining and quarrying	2.19	2.19
Education	0.00	0.00
Finance, real estate and business services	24.19	24.24
Public administration and Defense	8.83	8.73
Health and Social Work	0.00	0.00
Other services	0.00	0.00
Transport, storage and communication	10.63	10.72
Wholesale and retail trade, hotels and restaurants	11.26	10.98

Source: AFDB Socio Economic Database.

Import Partners (Imported Value, thousands, USD)

	2014	2015	2016	2017	2018
World	227,067	746,515	194,635	221,478	126,285
India	9,254	6,293	24,133	10,998	31,647
Pakistan	35,104	51,308	31,114	30,486	28,478
Madagascar	6,339	3,141	2,506	1,762	16,683
Belgium	587	414	960	1,326	5,046
Kenya	1,210	970	920	452	4,833

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

	2014	2015	2016	2017	2018
World	29,157	15,989	33,463	37,472	66,091
India	2,866	2,535	8,236	11,848	47,901
Germany	2,059	1,870	1,888	3,197	4,528
Indonesia				2,266	3,581
United States of America	1,236	432	407	2,251	2,734
Switzerland					1,060

Source: International Trade Center COMTRADE Statistics.

Comoros’ Top Import Products (USD ‘000)

Chapter	Description	2014	2015	2016	2017	2018
	All products	18,237,053	14,555,436	14,107,376	16,680,503	17,374,783
27	Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes	4,000,306	2,238,934	2,111,727	2,740,761	3,391,797
84	Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof	1,678,328	1,425,214	1,428,812	1,827,535	1,664,366
87	Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof	1,498,466	1,514,396	1,138,203	1,114,074	1,227,903
85	Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	1,553,756	1,239,386	1,629,903	1,121,436	1,206,182
72	Iron and steel	727,248	643,291	604,359	734,553	860,555

Source: International Trade Center COMTRADE Statistics.

Comoros’ Top Export Products (USD ‘000)

Chapter	Description	2014	2015	2016	2017	2018
	All products	29,157	15,989	33,463	37,472	66,091
09	Coffee, tea, mate and spices	16,972	11,561	24,708	30,003	62,003
33	Essential oils and resinoids; perfumery, cosmetic or toilet preparations	2,866	2,905	2,974	3,973	1,891
72	Iron and steel	28	10	94	35	568
85	Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles	777	121	171	748	527
73	Articles of iron or steel	68	29	48	62	349

Source: International Trade Center COMTRADE Statistics.

FDI Inflows (millions of USD)

Year	2014	2015	2016	2017	2018
FDI Inflows	5	5	4	4	8

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inward Stock (millions of USD)

Year	2014	2015	2016	2017	2018
FDI Inward Stock	102	107	110	114	122

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Outward Stock (millions of USD)

Year	2014	2015	2016	2017	2018
FDI Outward Stock	3	3	3	3	3

Source: United Nations Conference on Trade and Development, World Investment Report 2019

FDI Inflows Main Source Countries (in terms of number of projects)

China, France, Italy, Qatar, Tanzania, United States of America, Kuwait, and Turkey.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Sectors (in terms of number of projects)

Financial Services, Tourism and Hospitality, Business Services, Infrastructure, retail, and manufacturing.

Source: Financial Times, fDi Markets, 2018

FDI Inflows Main Companies (in terms of number of projects)

Exim Bank, Banque Fédérale de Commerce, BIC, CGC, Huawei, Bolloré, Colas, EGT, CBE, Kulak Co., Salsabil, Madji Baraka, Hurya Industry, Yako, Super Centre – Harita, Hairu Fisheries, etc.

Source: Financial Times, fDi Markets, 2018

World Bank Doing Business Profile

The World Bank’s Doing Business reports and rankings provide objective measures of business regulations and their enforcement across 190 economies. Ultimately, economies are ranked, across several important dimensions, on their ease of doing business, from 1 to 190. A high ease of doing business ranking (closer to 1) means that the regulatory environment is more conducive to the starting and operation of a local firm.

Overall Doing Business Ranking

2020	160/190
2019	164/190

Source: World Bank, Doing Business, 2020

Starting a Business

2020 Rank	158/190
Procedures (number)	9
Time (days)	16
Cost (% of income per capita*)	54.2
Paid-in Minimum Capital (% of income per capita*)	17.2

*GNI per capita used: USD 1,320
Source: World Bank, Doing Business, 2020

Paying Taxes

2020 Rank	168/190
Payments (number per year)	33
Time (hours per year)	100
Total Tax Rate (% of profit)	219.6
Profit Tax (% of profit)	30.4
Labour Tax and Contributions (% of profit)	0.0
Other Taxes (% of profit)	189.2

Source: World Bank, Doing Business, 2020

Trading Across Borders

2020 Rank	120/190
Time to Export: Border Compliance (hours)	51
Cost to Export: Border Compliance (USD)	651
Time to Export: Documentary Compliance (hours)	50
Cost to Export: Documentary Compliance (USD)	124
Time to Import: Border Compliance (hours)	70
Cost to Import: Border Compliance (USD)	765
Time to Import: Documentary Compliance (hours)	26
Cost to Import: Documentary Compliance (USD)	93

Assumptions:
* It is assumed that shipment travels from a warehouse in the largest business city of the exporting economy to a warehouse in the largest business city of the importing economy.
* It is assumed that each economy imports a standardized shipment of 15 metric tons of containerized auto parts (HS 8708) from its natural import partner—the economy from which it imports the largest value (price times quantity) of auto parts. It is assumed that each economy exports the product of its comparative advantage (defined by the largest export value) to its natural export partner—the economy that is the largest purchaser of this product.
* A shipment is a unit of trade. Export shipments do not necessarily need to be containerized, while import shipments of auto parts are assumed to be containerized.
* Shipping cost based on weight is assumed to be greater than shipping cost based on volume.
* If government fees are determined by the value of the shipment, the value is assumed to be $50,000.
* The mode of transport is the one most widely used for the chosen export or import product and the trading partner, as is the seaport, airport or land border crossing.
* Time is measured in hours, and 1 day is 24 hours.
* Costs do not include tariffs.
Source: World Bank, Doing Business, 2020

Tariff Rate (Applied, Simple Mean, %)

	2012	2013	2014	2015	2017
For All Products	7.34	11.85	9.9	12	10.8
For Manufactured Products	7.28	12.52	9.92	12.64	--
For Primary Products	7.57	8.99	9.8	8.92	--

Source: World Bank, World Development Indicators 2019.

Legal Framework

Investment Code – Law No. 07-0010/AU of 2007 

The main provisions of Law No. 07-0010/AU are:

• The guarantee of equal treatment between domestic and foreign investors Similarly, foreign workers have the same rights and obligations as national workers
• The ability for investors to obtain approved tax benefits for investments greater than or equal to 5,000,000 KMF (approximately USD 13,400)
• The establishment of ANPI – Comoros Investment Promotion Agency

Source: Comoros National Investment Promotion Agency, ANPI Online Portal.

Investment Incentives

• Incentive System ‘A’ – aimed at enterprises with:
• An investment programme ranging between 5,000,000 KMF (approx. 10,000 Euros) and 100,000,000 KMF (approx. 200,000 Euros)
• A significant job creation programme which favours the recruitment of nationals
• Approval under system ‘A’ bestows the following rights and benefits:
• The application of a maximally reduced rate in the unique administrative royalty (RAU) for the import of equipment and materials destined, in a specific way, to production or exploitation, as part of the approved programme, for a seven-year period
• Tax exemption on turnover for the equipment and materials destined, in a specific manner, to production and exploitation, as part of the approved programme, for a seven-year period
• For the tax on profits, approved enterprises are authorised to deduct from the amount of the taxable profits, 100% of the amount of the accepted investments. These deductions are spread over five successive fiscal years, at the end of which, the outstanding amount of the authorised but not used tax credit, is neither chargeable nor refundable
• Exemption, for two additional years, for enterprises established in rural areas
• At the end of the incentive period, the application of a maximum 50% reduction to the on-going minimum rate for the import of raw materials destined, in a specific way, to production
• System ‘B’ is reserved for enterprises with:
• An investment programme above 100,000,000 KMC (above 200,000 Euro)
• A significant job creation programme which favours the recruitment of nationals
• The approval under system ‘B’ bestows the following rights and benefits:
• The application of a maximally reduced rate in the unique administrative royalty (RAU) on the import of equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme, for a ten-year period
• Tax exemption on turnover for equipment and materials destined, in a specific manner, to production or exploitation, as part of an approved programme for a ten-year period
• For the tax on profits, the approved enterprises are authorised to deduct from the amount of taxable profit, 100% of the amount of the investments. These deductions are spread over 8 successive fiscal years, at the end of which the outstanding amount of the authorised but not used taxation credit, is neither rechargeable nor refundable
• Exemption for an additional two-year period, for enterprises established in rural zones
• At the end of the incentive period, the application of a maximally reduced rate for the import of raw materials destined, in a specific manner, to production.

Source: Comoros National Investment Promotion Agency, ANPI Online Portal.