Togo Economy
Is Togo a wealthy country?
Togo is a small West African nation with a developing economy that has experienced significant growth in recent years. Despite facing a number of challenges, including high levels of poverty and a lack of infrastructure, Togo has made strides in improving its economic outlook through various initiatives and reforms.
One of the main drivers of the Togolese economy is agriculture, which employs a significant portion of the country's population and accounts for a large portion of its exports. The main crops grown in Togo include cotton, cocoa, coffee, and yams, and the country has made efforts to improve agricultural productivity and modernize its farming practices in recent years.
In addition to agriculture, Togo has also seen growth in other sectors of the economy, including manufacturing and services. The country has made efforts to attract foreign investment and develop its infrastructure, particularly in the areas of transportation and energy.
Despite these efforts, however, Togo still faces significant economic challenges. Poverty and unemployment are widespread, particularly in rural areas, and the country's infrastructure remains underdeveloped in many areas. In addition, Togo has faced political instability in recent years, which has led to concerns about the country's economic future.
To address these challenges, the Togolese government has implemented a number of initiatives and reforms aimed at promoting economic growth and development. These include measures to improve the business climate and attract foreign investment, as well as efforts to modernize the agricultural sector and develop the country's infrastructure.
Togo Economy Data
What is the GDP of Togo?
| Currency Name and Code | CFA Franc BCEAO (XOF) |
| GDP - Gross Domestic Product (PPP) | $17,450,000,000 (USD) |
| GDP - official exchange rate | $4,152,000,000 (USD) |
| GDP - real growth rate | 5.4% |
| GDP Per Capita | $1,500.00 (USD) |
| GDP by Sector- agriculture | 29.5% |
| GDP by Sector- Industry | 21% |
| GDP by Sector- services | 49.5% |
| GDP - composition, by end use |
household consumption: 90.3% government consumption: 15.6% investment in fixed capital: 22.5% investment in inventories: 26.1% exports of goods and services: 56.8% imports of goods and services: -111.3% |
| Population Below Poverty Line | 32% |
| Inflation Rate | 2.6% |
| Labor Force | 2,595,000 |
| Labor Force By Occupation- agriculture | 65% |
| Labor Force By Occupation- industry | 5% |
| Labor Force By Occupation- services | 30% |
| Fiscal Year | calendar year |
| Annual Budget | $602,300,000 (USD) |
| Budget Surplus or Deficit - percent of GDP | -3.7% |
| Taxes and other revenues - percent of GDP | 19.2% |
| Major Industries | phosphate mining, agricultural processing, cement; handicrafts, textiles, beverages |
| Industrial Growth Rate | 2.5% |
| Agriculture Products | coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish |
| Child Labor - % of children ages 5-14 | 47% |
| Child Labor - # of children ages 5-14 | 774,801 |