Includes historical data for Togo’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Economic Reforms Propel Growth
Bordered by Ghana, Benin, and Burkina Faso, this coastal country in West Africa is home to around 9 million people. After gaining independence from France in 1960, Togo has struggled to build a stable economy. However, in recent times, the government has undertaken significant economic reforms, restructuring key sectors and taking steps to divest public enterprises. Benefiting from its rich mineral and agricultural resources, Togo is also an increasingly vital logistics and regional hub bolstered by Lomé’s unique position as West Africa’s only deep-water port.
Despite these positive developments, Togo faces significant challenges. High unemployment and poverty rates persist, particularly in rural areas. Corruption and inadequate infrastructure further impede progress and undermine overall competitiveness. Additionally, the country grapples with terrorist threats in the north.
Macroeconomy & Sovereign Data
| Type of Government | Presidential republic |
|---|---|
| Capital | Lome |
| Sovereign Ratings |
S&P: B Moody’s: B3 Fitch: Not rated |
| Total Population | 9.3 million |
| Median Age | 19.1 |
| Adult Per Capita Income (PPP) | 5,273.24 |
| Total GDP (2023) | 9.8 billion |
Togo GDP & Economic Overview
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Banking & Finance
Trade & Investment
| Total Exports | USD 16.0 billion (2023) |
|---|---|
| Leading Exports |
Refined Petroleum Crude Petroleum Electricity Calcium Phosphates Cotton |
| Total Imports | USD 5.2 billion (2022) |
| Leading Imports |
Refined Petroleum Motorcycles Crude Petroleum Rice Broadcasting Equipment |
| Source: | World Integrated Trade Solution |
Togo Leading Companies
| Orabank | Financials |
|---|---|
| Ecobank | Financials |
| Banque Togolaise pour le Commerce et l'Industrie | Financials |
| Togo Telecom | Telecommunication Services |
| Compagnie Energie Electrique du Togo | Utilities |
| Nouvelle Sototoles | Industrials |
| Asky Airlines | Airline |
Major Trade Partners — Import
| China | 20% |
|---|---|
| France | 9% |
| India | 6% |
| Japan | 4% |
| Ghana | 4% |
Source: World Integrated Trade Solution
Major Trade Partners — Export
| Burkina Faso | 14% |
|---|---|
| Mali | 11% |
| Benin | 11% |
| Ghana | 9% |
| Niger | 8% |
Source: World Integrated Trade Solution
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000