The Union of the Comoros is a small island state with an estimated population of 750 000 persons covering a territory of about 1,800 square kilometers. Comoros consists of three islands, Ngazidja (also known as Grand Comore), Moheli and Anjouan with at least more than half of the population living in the Grande Comore, which is also home to the Union capital, Moroni, the seat of the Union government. Comoros has a high population density of about 390 inhabitants per square kilometer and a population growth rate estimated at 2.4%.
Comoros is a member of the COMESA (Common Market for Eastern and Southern Africa) and Indian Ocean Commission. The economy is centered on the primary sector and retail services, which account respectively for about 51% and 18% GDP. The primary sector is geared towards the production of three high-value export crops: vanilla, cloves and ylang-ylang, which provide the bulk of export earnings (around 95%). Global remittances and multilateral external finance also play a key role in supporting livelihoods and the economy.
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 Comoros Business Community is represented by the Union of the Comoros Chambers and Industry- UCCIA.
Private Sector Participation
Union des Chambres de Commerce et d ’Agriculture du Comoros www.uccia-comores.com
Association Comorienne du Tourisme
Organisation Patronale des Comores (OPACO)
Banque Pour L'Industries et le Commerce- Comores;
Syndicat National des Agriculteurs Comorien;
Other Key Agencies
National Investment Promotion Agency www.invest-comoros.com
Banque de Developpement de Comoros