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World > Africa > Togo > Economy (Facts)

Togo - Economy (Facts)
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.
GDP - real growth rate: 2% (2006 est.)
GDP (purchasing power parity): $9.271 billion (2006 est.)
GDP (official exchange rate): $2.089 billion (2006 est.)
GDP - per capita (PPP): $1,700 (2006 est.)
GDP - composition by sector: agriculture: 39.5%
industry: 20.4%
services: 40.1% (2003 est.)
Population below poverty line: 32% (1989 est.)
Household income or consumption by percentage share: lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices): 2.8% (2006 est.)
Labor force: 1.302 million (1998)
Labor force - by occupation: agriculture: 65%
industry: 5%
services: 30% (1998 est.)
Unemployment rate: NA
Budget: revenues: $260.2 million
expenditures: $311 million; including capital expenditures of NA (2006 est.)
Industries: phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages
Industrial production growth rate: NA
Electricity - production: 286.2 million kWh (2004)
Electricity - consumption: 929.2 million kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 663 million kWh; note - electricity supplied by Ghana (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 14,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl
Natural gas - production: 0 cu m (2004 est.)
Agriculture - products: coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish
Exports: $868.4 million f.o.b. (2006 est.)
Exports - commodities: reexports, cotton, phosphates, coffee, cocoa
Exports - partners: Ghana 16.7%, Burkina Faso 14.4%, Benin 9.1%, Belgium 6.1%, Mali 5.8%, Germany 5.4%, India 4.6%, Netherlands 4.6% (2006)
Imports: $1.208 billion f.o.b. (2006 est.)
Imports - commodities: machinery and equipment, foodstuffs, petroleum products
Imports - partners: China 30.9%, UK 11.3%, France 9.2%, Netherlands 6.1%, Belgium 6%, US 4.8%, Estonia 4.3%, Cote d'Ivoire 4.1% (2006)
Debt - external: $2 billion (2005)
Economic aid - recipient: ODA, $80 million (2000 est.)
Currency: CFA Franc BCEAO (XOF)

Current CFA Franc BCEAO Exchange Rates
Historical CFA Franc BCEAO Exchange Rates
Chart CFA Franc BCEAO Exchange Rates
Currency code: XOF
Exchange rates: Communaute Financiere Africaine francs (XOF) per US dollar - 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - CFA Franc BCEAO Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
CFA Franc BCEAO Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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