Togo

Togo has a land mass of 56,785km2 and a coastline of 56km on the Bight (Bay) of Benin in the south and is bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It has a population of 9.5 million people and a GDP of US$9.9bn which is expected to grow by 5.5% in 2025.

Its currency is the West African Franc.

In 1960, the Togolese Republic achieved independence from France, which is now one of its main trading partners. It has great potential in terms of agriculture, which accounts for 28% of GDP and employs 62.5% of the workforce. The country has clinker deposits, which fuel its cement industry. The Lome Port is a major asset as one of the largest ports in West Africa, and the transport of goods to neighbouring countries has led to the creation of a services industry.

Despite the various economic improvements and in spite of the government\'s efforts, the poverty rate remains high, with more than 55% of the population living in poverty, and it continues to rely heavily on foreign aid.

Togo’s economy stabilised at a growth of 5.4 per cent in 2024, strengthening to 5.5 per cent in 2025. The growth in economic activity will be supported by increased private consumption, with the projected decline in inflation. Average inflation will decline to 2.3 per cent in 2024 and further to 2.0 per cent in 2025 on the back of food and energy price declines. Fiscal balance is projected to decline to -6.0 per cent of GDP in 2024 and further to -3.0 per cent in 2025 due to a combination of increased revenue measures and lower petroleum subsidies as a result of the expected lower crude oil prices. The debt-to-GDP ratio is projected to increase to 68.3 per cent of GDP in 2024, declining to 66.5 per cent in 2025. The current account balance is projected to widen to -4.4 per cent of GDP in 2024, as low inflation spurs imports, declining to -4.0 per cent in 2025.

The Port of Lomé in Togo, ranked 93rd in the world is West Africa’s major transhipment hub handles the largest volumes of cargo in West Africa. It has the capacity to accommodate large vessels and acts as a transhipment hub for the smaller ports of the region that cannot handle large ships.

Togo contains unexploited deposits of manganese, while gold and phosphate rock are produced.



Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF. ?>