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, yams, maize, oil palm fruit, sorghum, soybeans, beans, rice, vegetables, cotton (2022).
More about the economy of Togo
| Labor force | 3.166 million (2023 est.) |
|---|---|
| Industrial production growth rate | 6.74% (2023 est.) |
| Industries | phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages |
| Population below poverty line | 45.5% (2018 est.) |
| Taxes and other revenues | 14.19% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Communaute Financiere Africaine francs (XOF) per US dollar - |
| 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.) |
| Exchange rates 2019 | 585.911 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $1.462 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 31 December 2017 | $77.8 million (31 December 2017 est.) |
| Reserves of foreign exchange and gold 31 December 2016 | $42.6 million (31 December 2016 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.) |
| Public debt | |
| Public debt 2017 | 75.7% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.434 billion (2022 est.) |
| Expenditures | $1.32 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 6.1% of GDP (2023 est.) |
| Remittances 2022 | 6.81% of GDP (2022 est.) |
| Remittances 2021 | 6.67% 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) | India 30%, China 16%, South Korea 13%, Nigeria 4%, Taiwan 4% (2022) |
| Comodities Imports force | refined petroleum, crude petroleum, motorcycles and cycles, garments, rice (2022) |
| 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 26%, India 11%, Cote d'Ivoire 11%, South Africa 6%, Burkina Faso 6% (2022) |
| Comodities Exports force | gold, refined petroleum, phosphates, soybeans, plastic products (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $25.75 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $24.199 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $22.881 billion (2021 est.) |
| GDP (official exchange rate) | $9.171 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $2,800 (2023 est.) |
| Real GDP per capita 2022 | $2,700 (2022 est.) |
| Real GDP per capita 2021 | $2,600 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 18.1% (2023 est.) |
| Industry | 20.2% (2023 est.) |
| Services | 51.7% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 78.1% (2023 est.) |
| Government consumption | 12.6% (2023 est.) |
| Investment in fixed capital | 23% (2023 est.) |
| Exports of goods and services | 23.9% (2023 est.) |
| Imports of goods and services | -37.5% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 2.05% (2023 est.) |
| Unemployment rate 2022 | 2.07% (2022 est.) |
| Unemployment rate 2021 | 2.29% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 3.3% (2023 est.) |
| Male | 4.1% (2023 est.) |
| Female | 2.6% (2023 est.) |
All Important Facts about Togo
Want to know more about Togo? Check all different factbooks for Togo below.
