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Trade and Regional Integration in the Comoros: FY2019/20

The Comoros’ exports have been growing slower than imports during the period from 2015 to 2018. This has not affected Comoros’ gross official foreign exchange reserves. The growth in imports has led to deterioration of the Comoros’ current account balance. The Comoros is still heavily dependent on agriculture-based exports which are also its top traded goods with its neighbours in the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC). In addition, the Comoros is highly integrated in the COMESA and SADC regions albeit unbalanced due to its low levels of intra-regional exports and high levels of intra-regional imports from both regions. The Comoros might want to rationalise its membership in the regional economic communities given that it seemingly more highly integrated within SADC. This suggests that there is significant room to increase Comoros’ exports to COMESA and SADC; and balance or rationalise its membership in these regional economic communities.