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 Centre 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 Centre 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 5 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 166/190
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 280 

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

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

  • System ‘B’ is reserved for enterprises with:

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

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 Centre 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 Centre 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 5 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 166/190
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 280 

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

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

  • Incentive System ‘A’ – aimed at enterprises with:
  • System ‘B’ is reserved for enterprises with:

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