unbekannter Gast

Togo: Economy#

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.

Economic Facts#

GDP (purchasing power parity)$7.348 billion (2013 est.)
$6.964 billion (2012 est.)
$6.594 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate5.5% (2013 est.)
5.6% (2012 est.)
4.8% (2011 est.)
GDP - per capita (PPP)$1,100 (2013 est.)
$1,100 (2012 est.)
$1,100 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 27.6%
industry: 33.7%
services: 38.7% (2013 est.)
Population below poverty line32% (1989 est.)
Household income or consumption by percentage sharelowest 10%: 3.3%
highest 10%: 27.1% (2006)
Labor force - by occupationagriculture: 65%
industry: 5%
services: 30% (1998 est.)
Exports - commoditiesreexports, cotton, phosphates, coffee, cocoa
Exports - partnersIndia 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)
Agriculture - productscoffee, cocoa, cotton, yams, cassava (manioc, tapioca), corn, beans, rice, millet, sorghum; livestock; fish
Budgetrevenues: $825.8 million
expenditures: $983 million (2013 est.)
Imports - commoditiesmachinery and equipment, foodstuffs, petroleum products
Imports - partnersChina 40.4%, Netherlands 7.9%, France 5.4%, UK 5.3% (2012)
Exchange ratesCommunaute 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)
Exports$982.2 million (2013 est.)
$960.5 million (2012 est.)
Debt - external$719 million (31 December 2013 est.)
$658.1 million (31 December 2012 est.)
Fiscal yearcalendar year
Imports$1.677 billion (2013 est.)
$1.604 billion (2012 est.)
Industrial production growth rate5.1% (2013 est.)
Industriesphosphate mining, agricultural processing, cement, handicrafts, textiles, beverages
Inflation rate (consumer prices)2.2% (2013 est.)
2.6% (2012 est.)
Labor force2.595 million (2007)
Unemployment rateNA%
Current account balance-$355.1 million (2013 est.)
-$372.2 million (2012 est.)
Reserves of foreign exchange and gold$531.4 million (31 December 2013 est.)
$441.6 million (31 December 2012 est.)
GDP (official exchange rate)$4.299 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate2.5% (31 December 2010 est.)
4.25% (31 December 2009 est.)
Commercial bank prime lending rateNA%
Stock of domestic credit$1.594 billion (31 December 2013 est.)
$1.471 billion (31 December 2012 est.)
Stock of narrow money$1.138 billion (31 December 2013 est.)
$1.057 billion (31 December 2012 est.)
Stock of broad money$1.971 billion (31 December 2013 est.)
$1.819 billion (31 December 2012 est.)
Taxes and other revenues19.2% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-3.7% of GDP (2013 est.)
GDP - composition, by end usehousehold 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.)
Gross national saving9.8% of GDP (2013 est.)
8.7% of GDP (2012 est.)
10.7% of GDP (2011 est.)