Togo: Visió econòmica i política
In Togo, foreign trade represents 53% 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 10.3%). 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 plastic materials, phosphates, cement, beauty products, motorcycles, palm oil and cotton; and main imports include electrical energy, medicaments, vehicles, chemicals, oil products, cooking products, foodstuffs, and machinery. Main exports destinations include Burkina Faso, Mali, Benin, Niger, Ghana and India; while imports come essentially from China, France, India, Ghana, Japan, Nigeria and Germany (Comtrade).
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 2020, total exports remained stable at USD 1.01 billion while total imports slightly increased to USD 2.17 billion (WTO). Togo’s imports of services decreased to USD 407 million, while export of services decreased to USD 451 million (WTO). Exports of goods and services decreased by -4.7% compared to 2019, while imports of goods and services increased by 0.8% (World Bank).
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) | 4.8 | 5.1 | 9.1 | 9.7 | 9.5 |
Volume of imports of goods and services (Annual % change) | 8.8 | 6.6 | 4.8 | 8.0 | 8.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Burkina Faso | 14.3% |
Mali | 11.1% |
Benin | 10.8% |
Ghana | 8.7% |
Niger | 8.0% |
Ivory Coast | 7.8% |
India | 7.2% |
France | 5.7% |
Senegal | 4.3% |
Australia | 3.0% |
Nigeria | 2.8% |
Pakistan | 2.8% |
China | 1.1% |
Türkiye | 1.1% |
Bangladesh | 1.1% |
United States | 1.0% |
Philippines (the) | 0.9% |
New Zealand | 0.8% |
Malaysia | 0.8% |
Belgium | 0.7% |
See More Countries | 47.1% |
Main Suppliers (% of Imports) |
2021 |
China | 19.7% |
France | 8.8% |
India | 6.3% |
Japan | 3.8% |
Ghana | 3.7% |
Malaysia | 3.5% |
Spain | 3.4% |
Russia | 3.2% |
Nigeria | 3.0% |
Germany | 2.9% |
Türkiye | 2.9% |
United States | 2.7% |
Saudi Arabia | 2.6% |
Netherlands | 2.4% |
Belgium | 2.3% |
Greece | 2.3% |
United Kingdom | 1.7% |
Egypt | 1.7% |
South Korea | 1.7% |
United Arab Emirates | 1.6% |
See More Countries | 57.6% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. 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: January 2023
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