Togo Economy:
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, but production fell an estimated 22% in 2002 due to power shortages and the cost of developing new deposits. 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 following through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.
GDP (purchasing power parity):
$8.68 billion (2004 est.)
GDP — real growth rate:
3% (2004 est.)
GDP — per capita:
purchasing power parity: $1,600 (2004 est.)
GDP — composition by sector:
agriculture: 39.5%
industry: 20.4%
services: 40.1%
(2003)
Labor force:
1.74 million (1996 est.)
Labor force — by occupation:
agriculture: 65%, industry: 5%, services: 30% (1998 est.)
Unemployment rate:
NA (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):
1% (2004 est.)
Investment (gross fixed):
19.1% of GDP (2004 est.)
Budget:
revenues: $239.2 million
expenditures: $273.3 million including capital expenditures of NA (2004 est.)
Agriculture — products:
Coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish
Industries:
phosphate mining, agricultural processing, cement; handicrafts, textiles, beverages
Industrial production growth rate:
NA
Electricity — production:
108.8 million kWh (2002 est.)
Electricity — consumption:
451.2 million kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
Electricity — imports:
350 million kWh (2002 est.)
note: Electricity supplied by Ghana
Oil — production:
0 bbl/day (2001 est.)
Oil — consumption:
10,000 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Current account balance:
$-125.6 million (2004 est.)
Exports:
$663.1 million (f.o.b. 2004 est.)
Exports — commodities:
reexports, cotton, phosphates, coffee, cocoa
Exports — partners:
Burkina Faso 16.4%, Ghana 15.1%, Benin 9.4%, Mali 7.6%, China 7.5%, India 5.6% (2004)
Imports:
$824.9 million (f.o.b. 2004 est.)
Imports — commodities:
machinery and equipment, foodstuffs, petroleum products
Imports — partners:
India 13.3%, France 11.5%, China 25.5%, (2004)
Reserves of foreign exchange and gold:
$267.4 billion (2004 est.)
Debt — external:
$1.4 billion (2000 est.)
Economic aid — recipient:
ODA: $80 million (2000 est.)
Currency:
Communaute Financiere Africaine franc (XOF)
note: Responsible authority is the Central Bank of the West African States
Exchange rates:
Communaute Financiere Africaine francs (XOF) per US$: 528.29 (2004 est.), 581.2 (2003 est.), 696.99 (2002 est.), 733.04 (2001 est.), 711.98 (2000 est.)
Fiscal year:
calendar year
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