flag Comores Comores: Panorama econòmic

Economic Indicators

Comoros has been stuck in a low-growth trap for over 40 years, with growth averaging about 2.6% in 1980–2022 (World Bank). The Comorian economy was already weakened by political uncertainty and the passage of Cyclone Kenneth when it was hit by the Covid-19 pandemic, with GDP contracting by 0.3% in 2020. After a rebound in 2021 (+2.2%), the country’s economy continued expanding in 2022 (+2.6%). The IMF estimated growth at 3% in 2023, while the forecast for medium-term growth, standing at approximately 4.5%, depends on the effective implementation of robust macroeconomic policies and structural reforms.

Strong tax revenues and slower-than-expected public investment execution contributed to the over-performance of the domestic primary balance in 2023, with health and education spending accounting for approximately 33% of transfers in the 2023 budget. In 2024, the proposed domestic primary balance target is -1.4% of GDP (QPC). This target factors in: (i) expected revenue gains of approximately 6.5% from revenue administration reforms and the removal of tax exemptions on construction materials; (ii) efforts to stabilize the wage-to-GDP ratio, with nominal wages increasing by 3.4% due to higher pension contribution rates; (iii) the phasing out of one-time expenses linked to the 2024 presidential elections and the 2023 African Union presidency; and (iv) robust execution of public investment, driven by the goal to finish constructing the El Maarouf Hospital in 2024. The debt-to-GDP ratio was estimated at 33.3% in 2023 (from 27.9% one year earlier), and is expected to increase over the forecast horizon (to 38.2% by 2025 – IMF). The revised average inflation for 2023 stood at 9.2%, with expectations for it to gradually converge to around 2% over the medium term (IMF). To tackle economic fragility, the government’s top priority is to raise fiscal revenue to support investment in human and physical capital and enhance debt sustainability. The authorities also aim to strengthen the quality of spending, public financial management, State-Owned Enterprises (SOE) oversight, and the financial sector. Some of Comoros' biggest challenges include weak institutional capacities, a lack of basic infrastructure, heavy dependence on external aid, high exposure to threats related to the over-exploitation of natural resources (deforestation, land degradation, groundwater pollution, and coastal erosion), corruption, and an inefficient judicial system that is vulnerable to political interference. Furthermore, it has to be noted that – due to the country’s geography - the agriculture and biodiversity sectors are the most vulnerable to climate change.

With 39.8% of the population living below the poverty line, Comoros is one of the poorest countries in the world. The unemployment rate stood at around 5.7% in 2023 (World Bank), although general under-employment is the norm, with a large part of the population working in the primary sector. The country’s GDP per capita (PPP) was estimated at USD 3,834 by the World Bank in 2022.

 
Main Indicators 20222023 (E)2024 (E)2025 (E)2026 (E)
GDP (billions USD) 1.231.341.421.521.62
GDP (Constant Prices, Annual % Change) 2.63.03.54.04.3
GDP per Capita (USD) 1,2821,3531,3841,4211,461
General Government Gross Debt (in % of GDP) 28.133.235.536.336.5
Inflation Rate (%) 12.48.52.02.22.1
Current Account (billions USD) -0.01-0.08-0.08-0.08-0.09
Current Account (in % of GDP) -0.5-6.0-5.8-5.3-5.5

Source: IMF – World Economic Outlook Database - October 2021.

Note: (e) Estimated Data


 
Monetary Indicators 20162017201820192020
Comoro Franc (KMF) - Average Annual Exchange Rate For 1 EUR 473.15493.15491.52493.82491.97

Source: World Bank - Latest available data.

 

Main Sectors of Industry

 
Breakdown of Economic Activity By Sector Agriculture Industry Services
Employment By Sector (in % of Total Employment) 35.0 20.2 44.9
Value Added (in % of GDP) 36.4 9.1 50.2
Value Added (Annual % Change) 2.2 0.8 2.5

Source: World Bank - Latest available data.

 

The Active Population in Figures

201820192020
Labour Force 228,821235,265234,861

Source: International Labour Organization, ILOSTAT database

 
201720182019
Total activity rate 46.39%46.47%46.56%
Men activity rate 57.63%57.53%57.43%
Women activity rate 34.97%35.24%35.53%

Source: International Labour Organization, ILOSTAT database

 

Return to top

Indicator of Economic Freedom

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.

Score:
55,7/100
World Rank:
132
Regional Rank:
25

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

 
 

Country Risk

See the country risk analysis provided by Coface.

 

Indicator of Political Freedom

Definition:

The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.

Ranking:
Partly Free
Political Freedom:
3/7

Political freedom in the world (interactive map)
Source: Freedom in the World Report, Freedom House

 

Indicator of Freedom of the Press

Definition:

The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).

World Rank:
84/180

Return to top

Sources of General Economic Information

Main Online Newspapers and Portals
Allafrica, Comoros news
La Gazette des Comores
Habariza
Useful Resources
The official website of the Comoros Union (only in French)
Central Bank of Comoros
 
 

Return to top

Any Comment About This Content? Report It to Us.

 

© eexpand, All Rights Reserved.
Latest Update: May 2024

Return to top