External Trade
France, Comoros' major trading partner, finances small projects only. The United States receives a growing percentage of Comoros' exports but supplies only a negligible fraction of its imports (less than 1%).
The overall effect of the republic's dependence on aid has been perennial trade deficits accompanied by chronic budget deficits. In 1992 total exports had a value of US$21 million, and total imports were valued at US$50 million. In 1991 receipts totaled about US$34.7 million (CF9.7 trillion; CF—Comoran franc; for value of the Comoran franc—see Glossary) whereas expenditures totaled about US$93.8 million (CF26.2 trillion). The shortfall, which equaled about 170 percent of receipts, was financed by international grants and loans, by draws upon existing lines of credit, and by debt rescheduling.
In 1991 France received 55 percent of Comoran exports, followed by the United States (19 percent) and Germany (16 percent). The main export products were vanilla, ylang-ylang, and cloves. The republic's primary suppliers were France (56 percent of imports), the Belgium-Luxembourg economic union (11 percent), and Japan (5 percent). Imports consisted of basic foodstuffs (rice and meat), petroleum, and construction materials.
Comoros has an international airport (Prince Said Ibrahim International Airport) at Hahaya on Grande Comore. It is a member of the franc zone with an exchange rate of 491.9677 Comorian francs (KMF) = 1 .
Read more about this topic: Economy Of Comoros
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