Togo - Economy
How is the economy of Togo? Based on the information we have, Togo has a low-income West African economy; primarily agrarian economy; has a deep-water port; growing international shipping locale; improving privatization and public budgeting transparency; key phosphate mining industry; extremely high rural poverty. Key agricultural products in this country include: cassava, maize, yams, sorghum, soybeans, beans, rice, vegetables, oil palm fruit, cotton (2023).
More about the economy of Togo
| Labor force | 3.345 million (2024 est.) |
|---|---|
| Industrial production growth rate | 4.2% (2024 est.) |
| Industries | phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages |
| Population below poverty line | 45.5% (2018 est.) |
| Taxes and other revenues | 14.8% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Communaute Financiere Africaine francs (XOF) per US dollar - |
| Exchange rates 2024 | 606.345 (2024 est.) |
| Exchange rates 2023 | 606.57 (2023 est.) |
| Exchange rates 2022 | 623.76 (2022 est.) |
| Exchange rates 2021 | 554.531 (2021 est.) |
| Exchange rates 2020 | 575.586 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $1.923 billion (2023 est.) |
| Current account balance | |
| Current account balance 2020 | -$20.738 million (2020 est.) |
| Current account balance 2019 | -$55.444 million (2019 est.) |
| Current account balance 2018 | -$184.852 million (2018 est.) |
| Budget | |
| Revenues | $1.434 billion (2022 est.) |
| Expenditures | $1.32 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 7.1% of GDP (2023 est.) |
| Remittances 2022 | 8% of GDP (2022 est.) |
| Remittances 2021 | 7.8% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.8% (2021 est.) |
| Highest 10% | 29.6% (2021 est.) |
| Imports | |
| Imports 2020 | $2.389 billion (2020 est.) |
| Imports 2019 | $2.261 billion (2019 est.) |
| Imports 2018 | $2.329 billion (2018 est.) |
| Imports (partners) | China 26%, India 26%, Belgium 6%, Netherlands 6%, USA 3% (2023) |
| Comodities Imports force | refined petroleum, garments, rice, palm oil, motorcycles and cycles (2023) |
| Exports | |
| Imports 2020 | $2.389 billion (2020 est.) |
| Imports 2019 | $2.261 billion (2019 est.) |
| Imports 2018 | $2.329 billion (2018 est.) |
| Exports (partners) | UAE 40%, India 13%, Angola 13%, Burkina Faso 4%, Cote d'Ivoire 3% (2023) |
| Comodities Exports force | gold, refined petroleum, soybeans, phosphates, coconuts/brazil nuts/cashews (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $27.115 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $25.75 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $24.199 billion (2022 est.) |
| GDP (official exchange rate) | $9.926 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $2,800 (2024 est.) |
| Real GDP per capita 2023 | $2,800 (2023 est.) |
| Real GDP per capita 2022 | $2,700 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 18% (2024 est.) |
| Industry | 20% (2024 est.) |
| Services | 52% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 78.3% (2024 est.) |
| Government consumption | 13.1% (2024 est.) |
| Investment in fixed capital | 22.3% (2024 est.) |
| Investment in inventories | 0% (2024 est.) |
| Exports of goods and services | 24.4% (2024 est.) |
| Imports of goods and services | -38.1% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 2% (2024 est.) |
| Unemployment rate 2023 | 2% (2023 est.) |
| Unemployment rate 2022 | 2% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 3.4% (2024 est.) |
| Male | 3.3% (2024 est.) |
| Female | 3.5% (2024 est.) |
All Important Facts about Togo
Want to know more about Togo? Check all different factbooks for Togo below.
