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EconomyEconomy - 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) World Ranking: 157
$6.497 billion (2011 est.)
$6.24 billion (2010 est.) $5.998 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$3.611 billion (2011 est.)
Gdp - real growth rate World Ranking: 93
4.1% (2011 est.)
4% (2010 est.) 3.4% (2009 est.) Gdp - per capita (ppp) World Ranking: 215
$900 (2011 est.)
$900 (2010 est.) $900 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 46%
Industry 23% Services 31% (2011 est.) Labor force World Ranking: 110
2.595 million (2007)
Labor force - by occupation
Agriculture 65%
Industry 5% Services 30% (1998 est.) Unemployment rate
NA%
Population below poverty line
32% (1989 est.)
Household income or consumption by percentage share
Lowest 10% 3.3%
Highest 10% 27.1% (2006) Investment (gross fixed) World Ranking: 120
17.7% of GDP (2011 est.)
Budget
Revenues $794.9 million
Expenditures $938.2 million (2011 est.) Taxes and other revenues World Ranking: 145
22% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 130
-4% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 85
3.6% (2011 est.)
1.8% (2010 est.) Central bank discount rate World Ranking: 88
2.5% (31 December 2010 est.)
4.25% (31 December 2009 est.) Commercial bank prime lending rate
NA%
Stock of narrow money World Ranking: 148
$982 million (31 December 2011 est.) $854.3 million (31 December 2010 est.) Stock of broad money World Ranking: 154
$1.635 billion (31 December 2011 est.) $1.461 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 156
$1.078 billion (31 December 2011 est.) $1.013 billion (31 December 2010 est.) Market value of publicly traded shares
$NA
Agriculture - products
Coffee, cocoa, cotton, yams, cassava (manioc), corn, beans, rice, millet, sorghum; livestock; fish Industries
Phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages Industrial production growth rate World Ranking: 111
2.5% (2010 est.)
Electricity - production World Ranking: 183
156.9 million kWh (2008 est.)
Electricity - consumption World Ranking: 153
671.9 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
666 million kWh; note - electricity supplied by Ghana (2008 est.) Oil - production World Ranking: 139
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 124
23,000 bbl/day (2010 est.)
Oil - exports World Ranking: 202
0 bbl/day (2009 est.)
Oil - imports World Ranking: 123
15,900 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 200
0 bbl (1 January 2010 est.)
Natural gas - production World Ranking: 135
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 137
0 cu m (2009 est.)
Natural gas - exports World Ranking: 195
0 cu m (2009 est.)
Natural gas - imports World Ranking: 134
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 135
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 93
-$293.5 million (2011 est.)
-$236.1 million (2010 est.) Exports World Ranking: 159
$910.8 million (2011 est.)
$879 million (2010 est.) Exports - commodities
Reexports, cotton, phosphates, coffee, cocoa Exports - partners
China 11.3%, Burkina Faso 8.7%, Benin 8.6%, Niger 6.6%, Germany 6%, India 5.5%, Ghana 5%, Indonesia 4.9% (2011) Imports World Ranking: 168
$1.467 billion (2011 est.)
$1.371 billion (2010 est.) Imports - commodities
Machinery and equipment, foodstuffs, petroleum products Imports - partners
China 35.5%, France 9.4%, Belgium 8.6%, US 5.6%, UK 5.1% (2011) Reserves of foreign exchange and gold World Ranking: 138
$786.2 million (31 December 2011 est.) $714.9 million (31 December 2010 est.) Debt - external
$NA (31 December 2010)
$1.64 billion (31 December 2009 est.) Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar - 471.87 (2011 est.)495.28 (2010 est.) 472.19 (2009) 447.81 (2008) 482.71 (2007) Fiscal year
Calendar year
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