Economy Of Togo
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Economy overview
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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, but production fell an estimated 22% in 2002 due to power shortages and the cost of developing new deposits. 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.
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GDP
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purchasing power parity - $8.257 billion (2004 est.)
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GDP - real growth rate
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3.3% (2004 est.)
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GDP - per capita
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purchasing power parity - $1,500 (2004 est.)
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GDP - composition by sector
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agriculture: 39.5%
industry: 20.4%
services: 40.1% (2003 est.)
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Investment gross fixed
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18.4% of GDP (2004 est.)
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Population below poverty line
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32% (1989 est.)
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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-1% (2004 est.)
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Labor force
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1.74 million (1996)
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Labor force by occupation
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agriculture 65%, industry 5%, services 30% (1998 est.)
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Unemployment rate
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NA (2003 est.)
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Budget
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revenues: $214.5 million
expenditures: $296.4 million, including capital expenditures of NA (2004 est.)
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Public debt
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Agriculture products
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coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, millet, sorghum; livestock; fish
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Industries
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phosphate mining, agricultural processing, cement; handicrafts, textiles, beverages
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Industrial production growth rate
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NA
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Electricity production
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101.6 million kWh (2001)
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Electricity production by source
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fossil fuel: 98.7%
hydro: 1.3%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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614.5 million kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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520 million kWh; note - electricity supplied by Ghana (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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10,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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$-140 million (2004 est.)
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Exports
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$398.1 million f.o.b. (2004 est.)
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Exports commodities
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reexports, cotton, phosphates, coffee, cocoa
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Exports partners
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Burkina Faso 16.6%, Ghana 15.4%, Netherlands 13%, Benin 9.6%, Mali 7.7% (2003)
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Imports
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$501.3 million f.o.b. (2003 est.)
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Imports commodities
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machinery and equipment, foodstuffs, petroleum products
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Imports partners
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France 21.1%, Netherlands 12.1%, Cote d'Ivoire 5.9%, Germany 4.6%, Italy 4.4%, South Africa 4.3%, China 4.1% (2003)
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Reserves of foreign exchange gold
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$257 million (2004 est.)
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Debt external
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$1.4 billion (2000)
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Economic aid recipient
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ODA $80 million (2000 est.)
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Currency
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Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
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Currency code
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XOF
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Exchange rates
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Communaute Financiere Africaine francs (XOF) per US dollar - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to French Translation , English to Kabye Translation .
This information was reproduced in part from the CIA World Fact book.
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