Comoros: Trade Profile
Comoros is open to foreign trade, which represents 33% of GDP (World Bank). The Comorian Government has completely reformed the custom duties procedures in 1996 by establishing a simpler system with only two types of taxes instead of five. However, the poor quality of its infrastructure (mainly its roads and transport systems) and the low level of education are the main barriers that affect the development of trade. The country mainly exports cloves (41.64% of total exports), vanilla (22.83%), essential oils (23.81%), vacuum vessels (4.73%) and machinery (2.19%). Its main imports include meat (14.22% of total imports), cereals (10.98%), vehicles (10.58%), cement (9.11%), mineral fuels (9.11%) and iron (5.49%) (International Trade Centre, 2020).
The country's main customers are France (26.6% of total exports), India (22.8%), Germany (12.4%), the Netherlands (8.5%), Madagascar (8%), the United States (6.1%) and the United Arab Emirates (2.9%). Its main suppliers are the United Arab Emirates (19% of total imports), France (15.7%), Pakistan (13.2%), China (6.9%), Turkey (5.3%) and India (4.6%) (International Trade Centre, 2020). As a former French colony, Comoros prioritizes its aid and trade relations with France. The country is a member of the Indian Ocean Commission (IOC), the Arab League and the COMESA, which gathers 19 countries of Eastern and Southern Africa and the Indian Ocean. Comoros joined the Free Trade Area (FTA) of COMESA in May 2006.
Comoros runs a systemic trade deficit due to the country’s underdeveloped commercial agriculture and manufacturing industry and dependence on the import of fuel and basic consumption products. According to World bank’s latest available data, the country exported USD 21 million worth of goods and imported goods for USD 280 million in 2020. Thus, the trade deficit amounted to USD 259 million in 2020. In 2020, due to the Covid-19 pandemic, global trade volumes decreased sharply. Comoro's exports of cash crops fell due to lower demand.
| Foreign Trade Indicators | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Imports of Goods (million USD) | 206 | 252 | 243 | 265 | 280 |
| Exports of Goods (million USD) | 14 | 38 | 41 | 39 | 21 |
| Imports of Services (million USD) | n/a | 0 | 107 | 110 | 96 |
| Exports of Services (million USD) | n/a | 0 | 101 | 97 | 65 |
| Imports of Goods and Services (Annual % Change) | 5 | 11 | 11 | 1 | n/a |
| Exports of Goods and Services (Annual % Change) | 9 | 12 | 19 | 1 | n/a |
| Trade Balance (million USD) | -153 | -171 | -204 | -200 | n/a |
| Foreign Trade (in % of GDP) | 37 | 40 | 43 | 42 | n/a |
| Imports of Goods and Services (in % of GDP) | 26 | 28 | 30 | 29 | n/a |
| Exports of Goods and Services (in % of GDP) | 11 | 12 | 13 | 13 | n/a |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
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| 0.1 bn USD of services exported in 2018 | |
|---|---|
| 70.01% | |
| Personal travelPersonal travel | 59.42% |
| Business travelBusiness travel | 10.59% |
| 18.64% | |
| 5.66% | |
| 4.09% | |
| 1.12% | |
| 0.32% | |
| 0.15% | |
| 0.1 bn USD of services imported in 2018 | |
|---|---|
| 50.77% | |
| 23.76% | |
| Personal travelPersonal travel | 23.15% |
| Business travelBusiness travel | 0.61% |
| 8.88% | |
| 8.18% | |
| 6.50% | |
| 1.03% | |
| 0.44% | |
| 0.29% | |
| 0.15% | |
Source: United Nations Statistics Division, Latest Available Data
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Member of African Union (AU)
Member of Arab League
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Latest Update: May 2022
