Togo: Visió econòmica i política
In Togo, foreign trade represents 58% of the GDP, according to the World Bank’s latest available data. The country has been a member of the WTO since 1995. Key challenges to trade include certain public monopolies and customs procedures. Duties applied in the country are higher than in neighboring countries (with an average rate of 12.1%). However, Togo has developed a transport infrastructure network, which has enabled it to improve its position as a regional hub. Togo's main exports are phosphates, motorcycles, plastic materials, beauty products, cement, cotton, petroleum oils and palm oil; and main imports include petroleum oils and products, motorcycles, medicaments, polymers of ethylene, palm oil, cement, electrical energy, vehicles, foodstuffs and machinery. Main exports destinations include Burkina Faso (14.3% of total exports), Mali, Benin, Ghana, Niger, Ivory Coast and India; while imports come essentially from China (19.7% of total imports), France, India, Japan, Ghana, Malaysia and Spain (Comtrade, 2021).
Togo’s trade balance is structurally in deficit, a trend that is expected to continue due to the high oil bill and purchases of capital goods. In 2021, total exports increased to USD 1.35 billion (from USD 1 billion in 2020), while total imports increased to USD 2.63 billion (from USD 2.17 billion in 2020) (WTO). Togo’s imports of services increased to USD 464 million (from USD 407 million in 2020), while export of services increased to USD 612 million (from USD 451 million in 2020) (WTO).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 1,874 | 2,116 | 2,091 | 2,166 | 2,632 |
Exports of Goods (million USD) | 1,016 | 1,080 | 1,055 | 1,008 | 1,350 |
Imports of Services (million USD) | 427 | 464 | 447 | 407 | 464 |
Exports of Services (million USD) | 531 | 589 | 576 | 451 | 612 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 58.1 | 56.7 | 54.4 | 54.8 | 57.5 |
Trade Balance (million USD) | -644 | -782 | -757 | -744 | n/a |
Trade Balance (Including Service) (million USD) | -502 | -626 | -596 | -668 | n/a |
Imports of Goods and Services (Annual % Change) | -11.4 | 5.3 | 1.4 | 0.8 | n/a |
Exports of Goods and Services (Annual % Change) | -0.7 | 2.0 | 2.1 | -4.7 | n/a |
Imports of Goods and Services (in % of GDP) | 32.9 | 32.7 | 31.3 | 32.1 | 34.2 |
Exports of Goods and Services (in % of GDP) | 25.3 | 23.9 | 23.1 | 22.7 | 23.3 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 4.3 | 4.6 | 6.7 | 7.2 | 8.0 |
Volume of imports of goods and services (Annual % change) | 9.0 | 5.8 | 5.0 | 6.4 | 8.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
India | 17.0% |
Burkina Faso | 12.4% |
Benin | 9.4% |
Ivory Coast | 8.4% |
Mali | 7.5% |
France | 7.0% |
Ghana | 5.6% |
Niger | 4.3% |
Bulgaria | 3.7% |
Senegal | 3.7% |
United States | 3.5% |
Nigeria | 2.4% |
New Zealand | 2.3% |
Australia | 2.1% |
Canada | 1.9% |
Pakistan | 1.2% |
Netherlands | 1.0% |
Belgium | 0.6% |
Italy | 0.6% |
Gabon | 0.5% |
See More Countries | 45.3% |
Main Suppliers (% of Imports) |
2022 |
China | 19.8% |
France | 8.9% |
India | 6.1% |
Nigeria | 4.4% |
Ghana | 4.1% |
Saudi Arabia | 3.2% |
Japan | 3.2% |
Türkiye | 3.1% |
Belgium | 3.0% |
Germany | 2.6% |
Greece | 2.5% |
Malaysia | 2.5% |
Netherlands | 2.4% |
United States | 2.4% |
Ivory Coast | 1.9% |
United Arab Emirates | 1.9% |
Brazil | 1.7% |
Spain | 1.7% |
Italy | 1.4% |
Indonesia | 1.2% |
See More Countries | 56.7% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
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Actualitzacions: November 2023
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