Country Snapshot

Population (2019, millions)¹0.85 
Population Projections (2030, millions)¹1.1
Economically active population in agriculture (as % of Economically active population)12, 2019146.1
CapitalMoroni
Surface Area (km²)²2,235 including Mayotte (374 km2)
Weather¹¹Tropical; 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
Languages³Official: Arabic, French and Shikomoro/ Comorian (blend of Swahili and Arabic)
Main Religions³Main: Sunni MuslimOthers: Roman Catholic
Time⁴Eastern Africa Time (EAT) +0300 UTC
Driving Orientation⁵Right Side
Internet Country Code⁶.km
Country Calling Code+269
Plug, Socket and Voltage⁷ Type C and E - 220V/50Hz
CurrencyComorian Franc (KMF)
Exchange Rate (As of 22nd January 2019, per USD)⁸433.50
GDP at Market Prices (2018, current, millions of USD)⁹1,203
GDP Growth (2018, annual %)⁹2.8
Average GDP Growth (2014-2018, annual %)⁹2.1
GDP per Capita, PPP (2018, current international $)⁹2,827
Inflation, Consumer Prices (2014, annual %)⁹2.85
Average Inflation, Consumer Prices (2010-2014, annual %)⁹2.99
Total Reserves in Months of Imports (2012)⁹7.15

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) 1,1480.9881,0241,0681,203
GDP Growth (annual %) 2.11.092.182.702.80

Source: World Bank, World Development Indicators 2019.

Value Added by Sector (% of GDP)


Indicator
2018 2019
Agriculture 51.7251.34
Manufacturing 9.6910.34
Industry 13.0413.57
Services 54.2454.08
Construction 0.500.41
Electricity, gas and water 0.660.64
Mining and quarrying 2.192.19
Education 0.000.00
Finance, real estate and business services 24.19 24.24
Public administration and Defense 8.838.73
Health and Social Work 0.000.00
Other services 0.000.00
Transport, storage and communication 10.6310.72
Wholesale and retail trade, hotels and restaurants 11.2610.98

Source: AFDB Socio Economic Database.

Trade Profile

Import Partners (Imported Value, thousands, USD)

 20142015201620172018
World227,067746,515194,635221,478126,285
India9,2546,29324,13310,99831,647
Pakistan35,10451,30831,11430,48628,478
Madagascar6,3393,1412,5061,76216,683
Belgium5874149601,3265,046
Kenya1,2109709204524,833

Source: International Trade Center COMTRADE Statistics.

Export Partners (Exported Value, thousands, USD)

 20142015201620172018
World29,15715,98933,46337,47266,091
India2,8662,5358,23611,84847,901
Germany2,0591,8701,8883,1974,528
Indonesia   2,2663,581
United States of America1,2364324072,2512,734
Switzerland    1,060

Source: International Trade Center COMTRADE Statistics.

Comoros’ Top Import Products (USD ‘000)

ChapterDescription20142015201620172018
 All products    18,237,053     14,555,436     14,107,376     16,680,503     17,374,783 
27Mineral 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 
84Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof       1,678,328        1,425,214        1,428,812        1,827,535        1,664,366 
87Vehicles 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 
85Electrical 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 
72Iron and steel          727,248           643,291           604,359           734,553           860,555 

Source: International Trade Center COMTRADE Statistics.

Comoros’ Top Export Products (USD ‘000)

ChapterDescription20142015201620172018
 All products          29,157           15,989           33,463           37,472           66,091 
09Coffee, tea, mate and spices          16,972           11,561           24,708           30,003           62,003 
33Essential oils and resinoids; perfumery, cosmetic or toilet preparations            2,866             2,905             2,974             3,973             1,891 
72Iron and steel                  28                   10                   94                   35                 568 
85Electrical 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 
73Articles 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 554 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, %)

 20122013201420152017
For All Products7.3411.859.91210.8
For Manufactured Products7.2812.529.9212.64--
For Primary Products7.578.999.88.92--

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.