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Togo Economy 2017
http://www.theodora.com/wfbcurrent/togo/togo_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Togo Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 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. Togo completed its IMF Extended Credit Facility in 2011 and reached a Heavily Indebted Poor Country 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. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.Togo’s 2015 economic growth remained steady at 5.4%, largely driven by infusions of foreign aid, infrastructure investment in the port and mineral sectors, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.

GDP (purchasing power parity):
$11.61 billion (2016 est.) $11.02 billion (2015 est.) $10.46 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 155
[see also: GDP country ranks ]

GDP (official exchange rate):
$4.52 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.3% (2016 est.) 5.4% (2015 est.) 5.4% (2014 est.)
country comparison to the world: 28
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,500 (2016 est.) $1,500 (2015 est.) $1,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 219
[see also: GDP - per capita country ranks ]

Gross national saving:
18% of GDP (2016 est.) 18.2% of GDP (2015 est.) 13.6% of GDP (2014 est.)
country comparison to the world: 101
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 107%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 49.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -93.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 27.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 21.3%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 51.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
7.1% (2016 est.)
country comparison to the world: 14
[see also: Industrial production growth rate country ranks ]

Labor force:
2.595 million (2007 est.)
country comparison to the world: 113
[see also: Labor force country ranks ]

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

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)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $1.14 billion
[see also: Budget revenues country ranks ]
expenditures: $1.377 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
25.2% of GDP (2016 est.)
country comparison to the world: 116
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.2% of GDP (2016 est.)
country comparison to the world: 164
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
63.3% of GDP (2016 est.) 67.3% of GDP (2015 est.)
country comparison to the world: 56
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.2% (2016 est.) 1.8% (2015 est.)
country comparison to the world: 118
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2.5% (31 December 2010) 4.25% (31 December 2009)
country comparison to the world: 110
[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:
$1.315 billion (31 December 2016 est.) $1.14 billion (31 December 2015 est.)
country comparison to the world: 144
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.599 billion (31 December 2016 est.) $2.184 billion (31 December 2015 est.)
country comparison to the world: 147
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.977 billion (31 December 2016 est.) $1.65 billion (31 December 2015 est.)
country comparison to the world: 139
[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:
-$361 million (2016 est.) -$295 million (2015 est.)
country comparison to the world: 98
[see also: Current account balance country ranks ]

Exports:
$1.2 billion (2016 est.) $1.246 billion (2015 est.)
country comparison to the world: 151
[see also: Exports country ranks ]

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

Exports - partners:
India 14.6%, Burkina Faso 11.3%, China 11.3%, Benin 9.6%, Ghana 9%, Lebanon 8.3%, Nigeria 6.1%, Niger 5.9% (2015)

Imports:
$1.852 billion (2016 est.) $1.881 billion (2015 est.)
country comparison to the world: 164
[see also: Imports country ranks ]

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

Imports - partners:
China 22.9%, Belgium 20.3%, Netherlands 11.9%, France 6.6%, India 4.8%, Singapore 4.4% (2015)

Reserves of foreign exchange and gold:
$647.6 million (31 December 2016 est.) $574 million (31 December 2015 est.)
country comparison to the world: 135
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.173 billion (31 December 2016 est.) $1.034 billion (31 December 2015 est.)
country comparison to the world: 164
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)


NOTE: The information regarding Togo on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Togo Economy 2017 information contained here. All suggestions for corrections of any errors about Togo Economy 2017 should be addressed to the CIA.




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