Comoros Trade

Subchapters:

  • Business Relationships
  • Foreign direct investment
  • FTAs ​​and Treaties
  • Development Cooperation
  • Prospective fields of study (MOP)

Business relations

Trade relations with the EU

In 2020, Comorian trade with the EU remained at similar figures as in previous years. In 2021, there was an increase in the trade balance with the EU due to a decrease in Comorian imports to the EU and an increase in EU exports to the islands. Chambers benefit from the “Everything but Arms” program in mutual trade. They have fully duty-free and quota-free access to European markets (with the exception of the weapons category).

  • Allcountrylist: Overview of major industries in Comoros, including mining, construction, transportation, tourism, and foreign trade.
2017 2018 2019 2020 2021
Exports from the EU (million EUR) 51.2 51.5 58.4 64.3 73.1
Imports into the EU (million EUR) 19.6 25.9 23.5 23.6 16.5
Balance with the EU (million EUR) -31.5 -25.6 -34.9 -40.8 -56.6

Source: European Commission

Trade relations with the Czech Republic

In 2020, there was a significant increase in Czech exports to the Comoros. 92% of them were medical furniture. Apart from a fluctuation in 2018, imports to the Czech Republic remained at the level of approximately 2 million CZK per year for the last 5 years, and the same trend continued in 2021. After significant growth in 2020, Czech exports returned in 2021 to a value of almost 400,000 CZK. CZK. In 2021, the main commodities of Czech imports included clothing, mowers and mowers, and cloves. Processing units and equipment for reception, conversion, transmission and regeneration of voice and data were exported from the Czech Republic to the Chambers.

2017 2018 2019 2020 2021
Exports from the Czech Republic (million CZK) 0 0.223 0 4,869 0.367
Import to the Czech Republic (million CZK) 2,289 5,644 2,015 2,449 2.057
Balance with the Czech Republic (million CZK) 2,289 5,421 2,015 -2.420 1,690

Source: CZSO

Trade relations with countries outside the EU

Comorian imports to countries outside the EU increased slightly in 2021 compared to previous years. Data on exports from countries outside the EU are not available.

2017 2018 2019 2020 2021
Exports from countries outside the EU (million EUR) -10.3 ON ON ON ON
Imports to countries outside the EU (million EUR) 203.7 237.2 232.4 230.4 279.3
Balance with non-EU countries (million EUR) -214 ON ON ON ON

Source: EIU, Eurostat

Foreign direct investment

Foreign direct investment in the Comoros has been around USD 4 million per year since 2013. In 2020, according to the World Bank, it was USD 3.87 million. The largest investments are directed to agriculture and fishing, which corresponds to the structure of the Comorian economy. The largest investor in the country is China, whose investments are focused on the development of infrastructure, construction, healthcare and tourism. The biggest risks for potential bidders are poor infrastructure, small market size, geographic isolation, unstable water and electricity supplies, unskilled labor and insufficient protection of property rights.

FTAs and treaties

Treaties with the EU

Economic relations between the Comoros and the EU are regulated by the EPA Interim Agreement, which has been applied since February 7, 2019. Other members of the agreement are Mauritius, Madagascar, Seychelles and Zimbabwe, for which the agreement has been provisionally applied since May 2012. The EPA allows free access to most Comorian goods to European markets.

Contracts with the Czech Republic

Commercial or other agreements were never made.

Developmental cooperation

The Comoros Union is a recipient of development aid. In the case of the EU, development cooperation under all previous and the current 11th EDF is focused on building infrastructure, specifically roads and ports, rural and fisheries development, support for education and good governance. The country also benefits from other EU funds, such as FLEX and VFLEX, “Water Energy Facilities” and budget support related to climate change and human rights support.

Prospective fields of study (MOP)

Chambers are not included in the MOP.

Comoros Trade