Economy - overview: | 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 following 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 PRGF that could eventually lead to a debt reduction plan. |
GDP - per capita | $1,600 (2005 est.) |
GDP - real growth rate (%) | 2.8% (2005 est.) |
Agriculture - products | coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish |
GDP - composition by sector (%) | agriculture: 39.5%, industry: 20.4%, services: 40.1% (2003 est.) |
Industries | phosphate mining, agricultural processing, cement; handicrafts, textiles, beverages |
Economic aid - recipient | ODA $80 million (2000 est.) |
Debt - external | $2 billion (2005) |
Population below poverty line (%) | 32% (1989 est.) |
Labor force - by occupation (%) | agriculture 65%, industry 5%, services 30% (1998 est.) |