Togo:
Economy

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Other pages in this profile of Togo:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $5.208 billion (2007 est.)
GDP (official exchange rate)	Definition $2.497 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 2.1% (2007 est.)
GDP - per capita	Definition - World rank and map $800 (2007 est.)
GDP - composition by sector	Definition agriculture: 40% industry: 25% services: 35% (2003 est.)
Labor force	Definition 1.302 million (1998)
Labor force - by occupation	Definition agriculture: 65% industry: 5% services: 30% (1998 est.)
Unemployment rate	Definition - World rank and map NA%
Population below poverty line	Definition 32% (1989 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 1% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 24.2% of GDP (2007 est.)
Budget	Definition revenues: $481.5 million expenditures: $427.7 million (2007 est.)
Agriculture - products	Definition coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish
Industries	Definition phosphate mining, agricultural processing, cement, handicrafts, textiles, beverages
Industrial production growth rate	Definition - World rank and map 3% (2007 est.)
Electricity - production	Definition - World rank and map 176 million kWh (2005)
Electricity - consumption	Definition - World rank and map 576 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 98.4 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 486 million kWh; note - electricity supplied by Ghana (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 16,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 2.7 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2004)
Oil - imports	Definition - World rank and map 15,130 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$160 million (2007 est.)
Exports	Definition - World rank and map $690 million f.o.b. (2007 est.)
Exports - commodities	Definition reexports, cotton, phosphates, coffee, cocoa
Exports - partners	Definition Ghana 16.5%, Burkina Faso 14.3%, Germany 9.1%, Benin 9%, Netherlands 5.8%, Mali 5.7%, India 4.6% (2006)
Imports	Definition - World rank and map $1.208 billion f.o.b. (2007 est.)
Imports - commodities	Definition machinery and equipment, foodstuffs, petroleum products
Imports - partners	Definition China 36.1%, Estonia 9.9%, Netherlands 8%, US 7.8%, France 7.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $356 million (31 December 2007 est.)
Debt - external	Definition - World rank and map $2 billion (2005)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition ODA, $86.71 million (2005 est.)
Currency (code)	Definition Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Exchange rates	Definition Communaute Financiere Africaine francs (XOF) per US dollar - 482.71 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003) note: since 1 January 1999, the XOF franc has been pegged to the euro at a rate of 655.957 XOF francs per euro
Fiscal year	Definition calendar year

Togo: Economy

Togo:
Economy