Country Snapshot
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
Source: Comoros National Investment Promotion Agency – ANPI Online Portal.
Population
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.
Labour
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.
Economy - Overview
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.
Trade Profile
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.
Investment Profile
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
Doing Business
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
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.
Investment Regime
Legal Framework
Investment Code – Law No. 07-0010/AU of 2007
The main provisions of Law No. 07-0010/AU are:
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.
Investment Incentives
Source: Comoros National Investment Promotion Agency, ANPI Online Portal.