Comoros: Trade Profile
Comoros is open to foreign trade, which represents 48% of GDP (World Bank, latest data available). The Comorian Government 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) is the main barrier that affects the development of trade. Comoros is a member of several regional and bilateral trade agreements, including the Common Market for Eastern and Southern Africa (COMESA), the Indian Ocean Commission (IOC), and the Arab Maghreb Union (AMU). These agreements provide access to larger markets and help to promote trade and investment. Furthermore, improvements were recently achieved in the country’s accession process to the WTO and in February 2023, the Union of Comoros ratified the African Continental Free Trade Area (AfCFTA). The country mainly exports cloves, ylang-ylang (Comoros is the world's leading producer of this essential oil), vanilla, and agricultural products. Major imports include food products (especially rice, meat, and wheat), mineral fuels, and vehicles.
The country's main customers are Turkey (23.4% of total), India (19.3% of total), United Arab Emirates (8.9% of total), United States (8.6% of total), and Indonesia (8.1% of total). Its main suppliers are United Arab Emirates (24.9% of total), China (19.3% of total), India (11.5% of total), France (8.0% of total), and Tanzania (7.2% of total - International Trade Centre, 2022).
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 WTO data, the country exported USD 54 million worth of goods and imported goods for USD 348 million in 2022 (+58.8% and +6.4% year-on-year, respectively); whereas services exports reached USD 106 million against USD 157 million in imports. According to the World Bank, in the same year, Comoros’ trade deficit stood at 22.3% of its GDP (from 20.7% one year earlier).
| Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Imports of Goods (million USD) | 265 | 280 | 327 | 348 | 375 |
| Exports of Goods (million USD) | 39 | 21 | 34 | 54 | 31 |
| Imports of Services (million USD) | 113 | 104 | 148 | 157 | n/a |
| Exports of Services (million USD) | 102 | 47 | 104 | 106 | n/a |
| Imports of Goods and Services (Annual % Change) | 6 | -9 | 8 | 1 | 1 |
| Exports of Goods and Services (Annual % Change) | 7 | -46 | 48 | 23 | 5 |
| Trade Balance (million USD) | -200 | -217 | -218 | -216 | -267 |
| Foreign Trade (in % of GDP) | 42 | 34 | 42 | 48 | 48 |
| Imports of Goods and Services (in % of GDP) | 29 | 28 | 31 | 35 | 35 |
| Exports of Goods and Services (in % of GDP) | 13 | 6 | 11 | 13 | 13 |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
To go further, check out our service Import-Export Flows
| 0.1 bn USD of services exported in 2022 | |
|---|---|
| 76.55% | |
| Personal travelPersonal travel | 72.96% |
| OtherOther | 18.92% |
| Business travelBusiness travel | 3.59% |
| 10.79% | |
| 5.29% | |
| 4.54% | |
| 1.66% | |
| 0.99% | |
| 0.19% | |
| 0.2 bn USD of services imported in 2022 | |
|---|---|
| 43.90% | |
| 35.18% | |
| Personal travelPersonal travel | 34.71% |
| OtherOther | 20.91% |
| Business travelBusiness travel | 0.47% |
| 8.33% | |
| 7.16% | |
| 3.46% | |
| 1.01% | |
| 0.69% | |
| 0.19% | |
| 0.07% | |
Source: United Nations Statistics Division, Latest Available Data
Member of African Union (AU)
Member of Arab League
Member of African Union (AU)
Member of Arab League
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Latest Update: May 2024
