| Economy | Togo |
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Economy - overview:
|
This small, sub-Saharan economy is heavily dependent on both commercial and subsistence agriculture, which provides employment for 65% 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 the world's fourth-largest producer of phosphate. 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. Togo is working with donors to write a Poverty Reduction and Growth Facility (PRGF) that could eventually lead to a debt reduction plan. Economic growth remains marginal due to declining cotton production, underinvestment in phosphate mining, and strained relations with donors. |
GDP (purchasing power parity):
|
$5.105 billion (2008 est.)
$5.064 billion (2007)
$4.97 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$900 (2008 est.)
$900 (2007 est.)
$900 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$3.009 billion (2008 est.) |
GDP - real growth rate:
|
0.8% (2008 est.)
1.9% (2007 est.)
3.9% (2006 est.) |
GDP - composition by sector:
|
agriculture: 40%
industry: 25%
services: 35% (2008 est.) |
Investment (gross fixed):
|
18.4% of GDP (2008 est.) |
Population below poverty line:
|
32% (1989 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
9.8% (2008 est.) |
Central bank discount rate:
|
4.25% (31 December 2007) |
Commercial bank prime lending rate:
|
NA |
Stock of money:
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$624.9 million (31 December 2007) |
Stock of money - per capita:
|
104 USD per capita |
Stock of quasi money:
|
$383.9 million (31 December 2007) |
Stock of quasi money - per capita:
|
64 USD per capita |
Stock of domestic credit:
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$590.7 million (31 December 2007) |
Stock of domestic credit - per capita:
|
99 USD per capita |
Labor force:
|
1.302 million (1998) |
Labor force participation rate:
|
21.63 % of population |
Labor force - by occupation:
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agriculture: 65%
industry: 5%
services: 30% (1998 est.) |
Unemployment rate:
|
NA% |
Budget:
|
revenues: $551.5 million
expenditures: $620.1 million (2008 est.) |
Budget revenues per capita:
|
92 USD per capita |
Public debt:
|
void |
Industries:
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phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages |
Industrial production growth rate:
|
3% (2008 est.) |
Electricity - production:
|
203 million kWh (2006 est.) |
Electricity - production per capita:
|
34 kWh per capita |
Electricity - consumption:
|
607 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
101 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
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505 million kWh; note - electricity supplied by Ghana (2006 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
17,770 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
1.08 bbl/year per capita |
Oil - exports:
|
1,547 bbl/day (2005) |
Oil - imports:
|
16,650 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish |
Current account balance:
|
-$433 million (2008 est.) |
Current account balance - per capita:
|
-71 USD per capita |
Exports:
|
$1.001 billion f.o.b. (2008 est.) |
Exports per capita:
|
167 USD per capita |
Exports - commodities:
|
reexports, cotton, phosphates, coffee, cocoa |
Exports - partners:
|
Ghana 16.8%, Burkina Faso 14.5%, Germany 9.2%, Benin 9.1%, Netherlands 5.9%, Mali 5.8%, India 4.7% (2007) |
Imports:
|
$1.725 billion f.o.b. (2008 est.) |
Imports per capita:
|
287 USD per capita |
Imports - commodities:
|
machinery and equipment, foodstuffs, petroleum products |
Imports - partners:
|
China 36.3%, Estonia 9.6%, US 7.6%, Netherlands 7.3%, France 7% (2007) |
Reserves of foreign exchange and gold:
|
$502 million (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
84 USD per capita |
Debt - external:
|
$2 billion (2005) |
Debt - external - per capita:
|
333 USD per capita |
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 |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
ODA, $86.71 million (2005 est.) |
Economic aid - recipient per capita:
|
15 USD per capita |
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 - 447.81 (2008 est.), 482.71 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004)
note: since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par |
Fiscal year:
|
calendar year |
|
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