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Togo Economy 2016
http://www.theodora.com/wfbcurrent/togo/togo_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















Togo Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 20, 2014

Economy - overview:
This small, sub-Saharan economy 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):
$7.348 billion (2013 est.)
country comparison to the world: 160

$6.964 billion (2012 est.)
$6.594 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$4.299 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.5% (2013 est.)
country comparison to the world: 46

5.6% (2012 est.)
4.8% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,100 (2013 est.)
country comparison to the world: 217

$1,100 (2012 est.)
$1,100 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
9.8% of GDP (2013 est.)
country comparison to the world: 136

8.7% of GDP (2012 est.)
10.7% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 87.5%
government consumption: 9.7%
investment in fixed capital: 18.7%
investment in inventories: 1.2%
exports of goods and services: 36.9%
imports of goods and services: -54%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 27.6%
industry: 33.7%
services: 38.7% (2013 est.)

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

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

Industrial production growth rate:
5.1% (2013 est.)
country comparison to the world: 54
[see also: Industrial production growth rate country ranks ]

Labor force:
2.595 million (2007)
country comparison to the world: 111
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 65%
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%
highest 10%: 27.1% (2006)

Budget:
revenues: $825.8 million
expenditures: $983 million (2013 est.)

Taxes and other revenues:
19.2% of GDP (2013 est.)
country comparison to the world: 170
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.7% of GDP (2013 est.)
country comparison to the world: 139
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.2% (2013 est.)
country comparison to the world: 78

2.6% (2012 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:
$1.138 billion (31 December 2013 est.)
country comparison to the world: 146

$1.057 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.971 billion (31 December 2013 est.)
country comparison to the world: 152

$1.819 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.594 billion (31 December 2013 est.)
country comparison to the world: 139

$1.471 billion (31 December 2012 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 ]

Current account balance:
-$355.1 million (2013 est.)
country comparison to the world: 94

-$372.2 million (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$982.2 million (2013 est.)
country comparison to the world: 161

$960.5 million (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
India 14.2%, Lebanon 10.6%, Burkina Faso 7.6%, Benin 7.5%, China 6.1%, Niger 5.8%, Netherlands 5.2%, Ghana 4.4% (2012)

Imports:
$1.677 billion (2013 est.)
country comparison to the world: 168

$1.604 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
China 40.4%, Netherlands 7.9%, France 5.4%, UK 5.3% (2012)

Reserves of foreign exchange and gold:
$531.4 million (31 December 2013 est.)
country comparison to the world: 146

$441.6 million (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$719 million (31 December 2013 est.)
country comparison to the world: 168

$658.1 million (31 December 2012 est.)
[see also: Debt - external country ranks ]

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

500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)


NOTE: The information regarding Togo on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Togo Economy 2016 information contained here. All suggestions for corrections of any errors about Togo Economy 2016 should be addressed to the CIA.




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