Monetary & Banking 

Country name:

conventional long form: Union of the Comoros
conventional short form: Comoros
local long form: Union des Comores
local short form: Comores

 

Capital:

Moroni

 

Location:

Southern Africa, group of islands at the northern mouth of the Mozambique Channel, about two-thirds of the way between northern Madagascar and northern Mozambique

 

Area:

total: 2,170 sq km
land: 2,170 sq km
water: 0 sq km

 

Population:

651,901 (July 2004 est.)

 

Languages:

Arabic (official), French (official), Shikomoro (a blend of Swahili and Arabic)

 

Economy- Overview:

One of the world's poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, contributes 40% to GDP, employs 80% of the labor force, and provides most of the exports. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports.

 

Industries:

tourism, perfume distillation

 

Exports - commodities:

vanilla, ylang-ylang, cloves, perfume oil, copra

 

Imports - commodities:

rice and other foodstuffs, consumer goods; petroleum products, cement, transport equipment

 

Exchange rates: