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After being impacted by the lockdown measures and the collapse of trade, Togo’s economic activity recovered in 2021, with GDP growing by 5.3%. Economic growth remained resilient in 2022 (5.4%) despite the challenging context brought by Russia’s invasion of Ukraine. According to IMF estimates, GDP growth is expected to further accelerate to 6.2% in 2023 and 6.5% in 2024, driven by agriculture, phosphate exports, and port traffic.
In 2022, Togo’s economic recovery was slowed down by the impact of the war in Ukraine. Inflation soared from 4.3% in 2021 to 5.6% in 2022, due to rising food and energy prices (IMF). About 40% of Togo’s wheat imports come from Russia (AfDB). According to IMF forecasts, inflation should decrease to 2.1% in 2023 and 2% in 2024, thanks to declining global food and energy prices as well as moderately stronger regional food production. Measures put in place to tackle rising living costs and to address security concerns lead to the postponement of fiscal consolidation efforts. Fiscal deficit remained high at -6.1% GDP (compared to -6% in 2021) and it is expected to gradually decrease to -4.6% GDP in 2023 and -3.4% GDP in 2024 (IMF). Public debt increased from 63.7% GDP in 2021 to 66.1% GDP in 2022, and it is forecasted to slightly decrease to 65.4% GDP in 2023 and 63.4% GDP in 2024 as fiscal consolidation efforts are resumed (IMF). The authorities are pursuing the implementation of the Togo Roadmap 2020-2025, which focuses on strengthening social inclusion and harmony and consolidated peace, boosting job creation by strengthening the economy, and modernizing and strengthening the State’s administrative structures (World Bank). Committed to structural reforms, the country has also expressed its continued interest in an Extended Credit Facility (ECF) program from the IMF
In 2021, the unemployment rate in the country was at 4.2% (World Bank, ILO estimate). The poverty level (45.5% before the pandemic) is twice as high in rural areas (58.8%) than in urban areas (26.5%) and only 46.9% of the population has access to electricity (World Bank).
|Main Indicators||2020||2021||2022 (E)||2023 (E)||2024 (E)|
|GDP (billions USD)||7.59||8.43||8.17||9.00||9.65|
|GDP (Constant Prices, Annual % Change)||1.8||5.3||5.4||5.5||5.5|
|GDP per Capita (USD)||898||974||921||990||1,036|
|General Government Gross Debt (in % of GDP)||60.3||63.7||68.0||68.5||69.0|
|Inflation Rate (%)||1.8||4.5||7.6||5.3||2.9|
|Current Account (billions USD)||-0.02||-0.07||-0.23||-0.36||-0.36|
|Current Account (in % of GDP)||-0.3||-0.9||-2.8||-4.0||-3.7|
Source: IMF – World Economic Outlook Database , Latest available data
Note: (e) Estimated Data
The agricultural sector contributes to 19.3% of GDP and employs 32% of the active workforce (World Bank). The main food crops include cassava, yams, maize, millet, and sorghum, with cocoa, coffee and cotton as cash crops (generating about 20% of export earnings). Although many farmers practice subsistence farming, some basic foodstuff still needs to be imported. The agricultural sector is vulnerable to climate conditions and parasite infestation.
The industrial sector is quite limited in Togo, accounting for only 22.2% of GDP and 19% of the total employment. With an estimated 30 million metric tons of reserves (USGS), phosphate is the country's most important commodity, making Togo one of the world's largest producers of phosphate. Hence, mining is the main industrial sub-sector, followed by food processing. The country also has clinker deposits, which fuels a dynamic cement industry.
The services sector is estimated to account for 49.3% of GDP, giving employment to 48% of the active population. The sector has been growing consistently in recent years, and trade is its biggest contributor. The Lomé Port, which is one of the largest ports in the region, is a major asset as the transport of goods to neighboring countries is boosting services industry.
|Breakdown of Economic Activity By Sector||Agriculture||Industry||Services|
|Employment By Sector (in % of Total Employment)||32.4||19.2||48.4|
|Value Added (in % of GDP)||19.3||22.2||49.3|
|Value Added (Annual % Change)||1.3||5.3||0.9|
Source: World Bank - Latest available data.
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|CFA Franc BCEAO (XOF) - Average Annual Exchange Rate For 1 MUR||16.68||16.88||16.38||16.50||14.63|
Source: World Bank - Latest available data.
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The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.
In Togo, foreign trade represents 58% of the GDP, according to the World Bank’s latest available data. The country has been a member of the WTO since 1995. Key challenges to trade include certain public monopolies and customs procedures. Duties applied in the country are higher than in neighboring countries (with an average rate of 12.1%). However, Togo has developed a transport infrastructure network, which has enabled it to improve its position as a regional hub. Togo's main exports are phosphates, motorcycles, plastic materials, beauty products, cement, cotton, petroleum oils and palm oil; and main imports include petroleum oils and products, motorcycles, medicaments, polymers of ethylene, palm oil, cement, electrical energy, vehicles, foodstuffs and machinery. Main exports destinations include Burkina Faso (14.3% of total exports), Mali, Benin, Ghana, Niger, Ivory Coast and India; while imports come essentially from China (19.7% of total imports), France, India, Japan, Ghana, Malaysia and Spain (Comtrade, 2021).
Togo’s trade balance is structurally in deficit, a trend that is expected to continue due to the high oil bill and purchases of capital goods. In 2021, total exports increased to USD 1.35 billion (from USD 1 billion in 2020), while total imports increased to USD 2.63 billion (from USD 2.17 billion in 2020) (WTO). Togo’s imports of services increased to USD 464 million (from USD 407 million in 2020), while export of services increased to USD 612 million (from USD 451 million in 2020) (WTO).
|Foreign Trade Indicators||2017||2018||2019||2020||2021|
|Imports of Goods (million USD)||1,874||2,116||2,091||2,166||2,632|
|Exports of Goods (million USD)||1,016||1,080||1,055||1,008||1,350|
|Imports of Services (million USD)||427||464||447||407||464|
|Exports of Services (million USD)||531||589||576||451||612|
|Imports of Goods and Services (Annual % Change)||-11.4||5.3||1.4||0.8||n/a|
|Exports of Goods and Services (Annual % Change)||-0.7||2.0||2.1||-4.7||n/a|
|Imports of Goods and Services (in % of GDP)||32.9||32.7||31.3||32.1||34.2|
|Exports of Goods and Services (in % of GDP)||25.3||23.9||23.1||22.7||23.3|
|Trade Balance (million USD)||-644||-782||-757||-744||n/a|
|Trade Balance (Including Service) (million USD)||-502||-626||-596||-668||n/a|
|Foreign Trade (in % of GDP)||58.1||56.7||54.4||54.8||57.5|
Source: WTO – World Trade Organisation ; World Bank , Latest Available Data
(% of Exports)
|See More Countries||45.3%|
(% of Imports)
|See More Countries||56.7%|
Source: Comtrade, Latest Available Data
|1.4 bn USD of products exported in 2022|
|Natural calcium phosphates and natural aluminium...Natural calcium phosphates and natural aluminium calcium phosphates, natural and phosphatic chalk||22.2%|
|Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics||7.7%|
|Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals||6.9%|
|Soya beans, whether or not brokenSoya beans, whether or not broken||5.7%|
|Beauty or make-up preparations and preparations...Beauty or make-up preparations and preparations for the care of the skin, incl. sunscreen or suntan preparations (excl. medicaments); manicure or pedicure preparations||5.6%|
|See More Products||51.9%|
|2.8 bn USD of products imported in 2022|
|Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals||5.4%|
|Polymers of ethylene, in primary formsPolymers of ethylene, in primary forms||3.9%|
|Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)||3.7%|
|Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)||3.5%|
|Motorcycles, incl. mopeds, and cycles fitted with...Motorcycles, incl. mopeds, and cycles fitted with an auxiliary motor, with or without side-cars; side-cars||2.9%|
|See More Products||80.5%|
Source: Comtrade, Latest Available Data
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The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).
The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.
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Latest Update: September 2023