| Economy | Togo |
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Economy - overview:
|
This small, sub-Saharan economy suffers from anemic economic growth and 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):
|
$6.324 billion (2011 est.)
$6.12 billion (2010 est.)
$5.916 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$900 (2011 est.)
$900 (2010 est.)
$900 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$3.6 billion (2011 est.) |
GDP - real growth rate:
|
3.8% (2011 est.)
3.7% (2010 est.)
3.2% (2009 est.) |
GDP - composition by sector:
|
agriculture: 46%
industry: 23%
services: 31% (2011 est.) |
Investment (gross fixed):
|
17.6% of GDP (2011 est.) |
Population below poverty line:
|
32% (1989 est.) |
Household income or consumption by percentage share:
|
lowest 10%: 3.3%
highest 10%: 27.1% (2006) |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
4.5% (2011 est.)
1.4% (2010 est.) |
Central bank discount rate:
|
2.5% (31 December 2010 est.)
4.25% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
NA%
|
Stock of money:
|
$712.6 million (31 December 2008)
$624.9 million (31 December 2007) |
Stock of money - per capita:
|
106 USD per capita |
Stock of quasi money:
|
$414.9 million (31 December 2008)
$383.9 million (31 December 2007) |
Stock of quasi money - per capita:
|
62 USD per capita |
Stock of domestic credit:
|
$955.1 million (31 December 2011 est.)
$836.4 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
142 USD per capita |
Stock of narrow money:
|
$833.2 million (31 December 2011 est.)
$777.9 million (31 December 2010 est.) |
Stock of broad money:
|
$1.446 billion (31 December 2011 est.)
$1.267 billion (31 December 2010 est.) |
Labor force:
|
2.595 million (2007) |
Labor force participation rate:
|
38.32 % of population |
Labor force - by occupation:
|
agriculture: 65%
industry: 5%
services: 30% (1998 est.) |
Unemployment rate:
|
NA% |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $791.9 million
expenditures: $897.6 million (2011 est.) |
Budget revenues per capita:
|
117 USD per capita |
Taxes and other revenues:
|
22% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-2.9% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages |
Industrial production growth rate:
|
2.5% (2010 est.) |
Electricity - production:
|
156.9 million kWh (2008 est.) |
Electricity - production per capita:
|
24 kWh per capita |
Electricity - consumption:
|
671.9 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
100 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
666 million kWh; note - electricity supplied by Ghana (2008 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
23,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
1.24 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
15,900 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2010 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish |
Current account balance:
|
-$328 million (2011 est.)
-$229 million (2010 est.) |
Current account balance - per capita:
|
-48 USD per capita |
Exports:
|
$865 million (2011 est.)
$840 million (2010 est.) |
Exports per capita:
|
128 USD per capita |
Exports - commodities:
|
reexports, cotton, phosphates, coffee, cocoa |
Exports - partners:
|
India 12.7%, Germany 12.2%, Benin 9.8%, Ghana 9.7%, Burkina Faso 9.1%, China 5.1%, Belgium 4.9%, Niger 4.6%, Nigeria 4.3% (2010) |
Imports:
|
$1.46 billion (2011 est.)
$1.292 billion (2010 est.) |
Imports per capita:
|
216 USD per capita |
Imports - commodities:
|
machinery and equipment, foodstuffs, petroleum products |
Imports - partners:
|
China 48%, France 8.3%, US 6.1% (2010) |
Reserves of foreign exchange and gold:
|
$828.8 million (31 December 2011 est.)
$669.4 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
123 USD per capita |
Debt - external:
|
$NA (31 December 2010)
$1.64 billion (31 December 2009 est.) |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States |
Exchange rates:
|
Communaute Financiere Africaine francs (XOF) per US dollar -
473.7 (2011 est.)
495.28 (2010 est.)
472.19 (2009)
447.81 (2008)
482.71 (2007) |
Fiscal year:
|
calendar year |
|
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