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Togo Economy 2013
http://www.theodora.com/wfbcurrent/togo/togo_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 5, 2013

Economy - overview:
This small, sub-Saharan economy suffers from anemic economic growth and depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton generate about 40% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and Togo seeks to develop its carbonate phosphate reserves. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo completed its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms.

GDP (purchasing power parity):
$6.899 billion (2012 est.)
country comparison to the world: 160

$6.569 billion (2011 est.)
$6.264 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$3.624 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5% (2012 est.)
country comparison to the world: 56

4.9% (2011 est.)
4% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,100 (2012 est.)
country comparison to the world: 212

$1,100 (2011 est.)
$1,000 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 45.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 21.4%
services: 33% (2012 est.)

Labor force:
2.595 million (2007)
country comparison to the world: 110
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 65%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
services: 30% (1998 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
32% (1989 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.1% (2006)

Investment (gross fixed):
25.4% of GDP (2012 est.)
country comparison to the world: 45
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $729.6 million
[see also: Budget revenues country ranks ]
expenditures: $872.2 million (2012 est.)

Taxes and other revenues:
20.1% of GDP (2012 est.)
country comparison to the world: 161
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.9% of GDP (2012 est.)
country comparison to the world: 129
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
2.8% (2012 est.)
country comparison to the world: 70

3.6% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2.5% (31 December 2010 est.)
country comparison to the world: 90

4.25% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA%


[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$954.5 million (31 December 2012 est.)
country comparison to the world: 151

$981.9 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.534 billion (31 December 2012 est.)
country comparison to the world: 158

$1.635 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.119 billion (31 December 2012 est.)
country comparison to the world: 154

$1.193 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
coffee, cocoa, cotton, yams, cassava (manioc), corn, beans, rice, millet, sorghum; livestock; fish

Industries:
phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages

Industrial production growth rate:
2.5% (2010 est.)
country comparison to the world: 114
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$418.4 million (2012 est.)
country comparison to the world: 93

-$302.7 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$893.8 million (2012 est.)
country comparison to the world: 160

$928.7 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
reexports, cotton, phosphates, coffee, cocoa

Exports - partners:
China 10.7%, Burkina Faso 8.3%, India 8.3%, Benin 8.2%, Niger 6.3%, Germany 5.7%, Ghana 4.8%, Indonesia 4.7% (2011)

Imports:
$1.492 billion (2012 est.)
country comparison to the world: 170

$1.455 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, petroleum products

Imports - partners:
China 32.5%, France 8.7%, Belgium 7.9%, India 6.2%, US 5.1%, UK 4.6% (2011)

Reserves of foreign exchange and gold:
$678 million (31 December 2012 est.)
country comparison to the world: 144

$774.3 million (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$NA (31 December 2010)

$1.64 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar -

514.1 (2012 est.)
471.87 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Togo on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Togo Economy 2013 information contained here. All suggestions for corrections of any errors about Togo Economy 2013 should be addressed to the CIA.


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