ECONOMY
Comoros,
with an estimated gross domestic product (GDP) per capita income
of about $700, is among the world's poorest and least developed
nations. Although the quality of the land differs from island
to island, most of the widespread lava-encrusted soil formations
are unsuited to agriculture. As a result, most of the inhabitants
make their living from subsistence agriculture and fishing.
Agriculture,
involving more than 80% of the population and 40% of the gross
domestic product, provides virtually all foreign exchange earnings.
Services including tourism, construction, and commercial activities
constitute the remainder of the GDP. Plantations engage a large
proportion of the population in producing the islands' major cash
crops for export: vanilla, cloves, perfume essences, and copra.
Comoros is the world's leading producer of essence of ylang-ylang,
used in manufacturing perfume. It also is the world's second-largest
producer of vanilla. Principal food crops are coconuts, bananas,
and cassava. Foodstuffs constitute 32% of total imports.
The country
lacks the infrastructure necessary for development. Some villages
are not linked to the main road system or at best are connected
by tracks usable only by four-wheel-drive vehicles. The islands'
ports are rudimentary, although a deepwater facility functions
in Anjouan. Only small vessels can approach the existing quays
in Moroni on Grande Comore, despite improvements. Long-distance,
ocean-going ships must lie offshore and be unloaded by smaller
boats; during the cyclone season, this procedure is dangerous,
and ships are reluctant to call at the island. Most freight is
sent first to Mombasa, Kenya or the island of Reunion and transshipped
from there.
France,
Comoros' major trading partner, finances small projects only.
The United States receives a growing percentage of Comoros' exports
but supplies only a negligible fraction of its imports (less than
1%).
Comoros has an international airport at Hahaya on Grande Comore. Comoros has its own currency, the Comorian Franc, which is currently valued at 557 CF = U.S. $1.
GDP
(purchasing power parity): $419 million.
Annual growth rate: 0.5%.
Per capita income: $720.
Agriculture (40% of GDP): Products--vanilla,
cloves, perfume essences, copra, banana, cassava, coconuts.
Services (56% of GDP): Commerce, tourism.
Industry (4% of GDP): Types--perfume distillation.
Trade: Exports (1999 est.)--$7.9 million: vanilla,
cloves, perfume essences, copra. Major markets--France, Germany.
Imports (1998 est.)--$35.84 million: rice, petroleum, meat, wheat
flour, cotton textiles, cement. Major suppliers--France 38%, Pakistan
13%, Kenya 8%, South Africa 8%.
