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Economy and Business in Comoros

The Comoros economy and business is to a great extent dependent on foreign assistance. The infrastructure of Comoros is yet to develop a lot as it is considered to be one of the poorest countries in the world.

The Comoros economy and business is mainly dependent on agricultural products and natural resources. The agriculture is the backbone of nearly 80% of the population of Comoros. People are engaged in hunting, fishing and forestry. This taken together contributes 40% to the Gross Domestic product or GDP. In order to enhance the economy and business in Comoros, the government is trying to promote the tourism sector as well as to privatize industrial and commercial enterprises.

The Comoros economy is to a great extent supported by the production of agricultural products such as bananas, cloves, copra, Vanilla and coconuts. Business in Comoros is also regulated through exports and imports. The import partners of Comoros are South Africa, China, France, Italy, Kenya, Pakistan and UAE. On the other hand the export partners are Netherlands, Italy, France, Turkey and Singapore.

The men folk hold a key position in business at Comoros. Export of agricultural products and perfumes is the prime business of the country. There are also some other industries located in the country. Arabic is the main language used for economic activities and business in Comoros. However, French is also used as an official language. The business in Comoros runs from Monday to Thursday between 7.30 am to 2.30 pm. On Friday the business transactions gets over by 11 am as it is the Islamic holy day.