Economic overview Togo, in 36 editions.

Togo is one of the least developed countries in the world with a per capita GDP of about $400. The economy is heavily dependent on subsistence agriculture, which accounts for about 35% of GDP and provides employment for 80% 78% of the labor force. Primary agricultural exports are cocoa, coffee, and cotton, which together account for about 30% of total export earnings. Togo is self-sufficient in basic foodstuffs when harvests are normal. In the industrial sector phosphate mining is by far the most important activity, with phosphate exports accounting for about 40% of total foreign exchange earnings. Togo serves as a regional commercial and trade center. The government actively encourages foreign investment.

The economy is heavily dependent on subsistence agriculture, which accounts
for about 35% of GDP and provides employment for 78% of the labor force.
Primary agricultural exports are cocoa, coffee, and cotton, which together
account for about 30% of total export earnings. Togo is self-sufficient in
basic foodstuffs when harvests are normal. In the industrial sector
phosphate mining is by far the most important activity, with phosphate
exports accounting for about 40% of total foreign exchange earnings. Togo
serves as a regional commercial and trade center. The government government, over the
past decade, with IMF and World Bank support, has been implementing a number
of economic reform measures, that is, actively encourages encouraging foreign investment.
investment and attempting to bring revenues in line with expenditures.
Political unrest throughout 1991, however, has jeopardized the reform
program and has disrupted vital economic activity.

The economy is heavily dependent on subsistence agriculture, which accounts
for about 35% 33% of GDP and provides employment for 78% of the labor force.
Primary agricultural exports are cocoa, coffee, and cotton, which together
account for about 30% of total export earnings. Togo is self-sufficient in
basic foodstuffs when harvests are normal. In the industrial sector
phosphate mining is by far the most important activity, with phosphate
exports accounting for about 40% of total foreign exchange earnings. Togo
serves as a regional commercial and trade center. The government, over the
past decade, with IMF and World Bank support, has been implementing a number
of economic reform measures, that is, actively encouraging measures to encourage foreign
investment and attempting to bring
revenues in line with expenditures.
Political unrest unrest, including private and
public sector strikes throughout 1991, however, 1991 and 1992, has jeopardized the reform
program and has disrupted vital economic activity.

The economy is heavily dependent on subsistence agriculture, which accounts
accounts for about 33% of GDP and provides employment for 78% of the
labor force.
Primary agricultural exports are cocoa, coffee, and
cotton, which together
account for generate about 30% of total export earnings.
Togo is self-sufficient in
basic foodstuffs when harvests are normal.
In the industrial sector
phosphate mining is by far the most important activity, with phosphate
exports accounting for about 40% activity, although it has suffered from the collapse of total World
phosphate prices and increased foreign exchange earnings. competition. Togo
serves as a
regional commercial and trade center. The government, over the
past decade, with government's decade-long IMF
and World Bank support, has been implementing a number
of supported effort to implement economic reform measures
to encourage foreign investment and bring
revenues in line with expenditures.
expenditures has stalled. Political unrest, including private and
public sector strikes throughout 1991 1992 and 1992, 1993, has jeopardized the reform
reform program and has disrupted vital economic activity.

The economy is heavily dependent on subsistence agriculture, which
which accounts for about 33% half of GDP and provides employment for 78% 80%
of the
labor force. Primary agricultural exports are cocoa, coffee, and
and cotton, which together generate about 30% of total export earnings.
earnings. Togo is self-sufficient in basic foodstuffs when harvests
are normal.
In the industrial sector phosphate mining is by far the
most important
activity, although it has suffered from the collapse of World
world phosphate prices and increased foreign competition. Togo serves
as a
regional commercial and trade center. The government's
decade-long IMF
and World Bank supported effort to implement economic
reform measures
to encourage foreign investment and bring revenues in
line with
expenditures has stalled. Political unrest, including
private and
public sector strikes throughout 1992 and 1993, has
jeopardized the
reform program program, shrunk the tax base, and has disrupted
vital economic activity. Although strikes had ended in 1994, political
unrest and lack of funds prevented the government from taking
advantage of the 50% currency devaluation of January 1994. Resumption
of World Bank and IMF flows will depend on implementation of several
controversial moves toward privatization and on downsizing the
military, on which the regime depends to stay in power.

The This small sub-Saharan economy is heavily
dependent on subsistence agriculture,
which accounts for about half of GDP and provides employment for 80%
more than 60% of the labor force. Primary agricultural exports are cocoa, Cocoa, coffee,
and cotton, which cotton together
generate about 30% of total export
earnings. Togo is self-sufficient in
basic foodstuffs when harvests
are normal. In the industrial sector sector,
phosphate mining is by far the
most important activity, although it
has suffered from the collapse of
world phosphate prices and
increased foreign competition. Togo serves
as a regional commercial
and trade center. The government's
decade-long IMF and effort, supported by
the World Bank supported effort and the IMF, to implement economic
reform measures to measures,
encourage foreign investment investment, and bring revenues in
line with
expenditures has stalled. Political unrest, including
private and
public sector strikes throughout 1992 and 1993, has
jeopardized the
reform program, shrunk the tax base, and disrupted
vital economic
activity. Although strikes had ended in 1994, political
unrest and
lack of funds prevented the government from taking
advantage of the
50% currency devaluation of 12 January 1994. Resumption
of World
Bank and IMF flows will depend on implementation of several
controversial moves toward privatization and on downsizing the
military, on which the regime depends to stay in power.

This small sub-Saharan economy is heavily
dependent on both commercial and subsistence agriculture, which
provides employment for
more than 60% of the labor force. Cocoa,
coffee, and cotton together
generate about 30% of export earnings.
Togo is self-sufficient in
basic foodstuffs when harvests are normal.
In the industrial sector,
phosphate mining is by far the most
important activity, although it
has suffered from the collapse of
world phosphate prices and
increased foreign competition. Togo serves
as a regional commercial
and trade center. 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 stalled. Political
unrest, including private and
public sector strikes throughout 1992
and 1993, has jeopardized the
reform program, shrunk the tax base, and
disrupted vital economic
activity. Although strikes had ended in 1994,
political unrest and
lack of funds prevented the government from
taking advantage of the
50% currency devaluation of 12 January 1994.
Resumption of World
Bank and IMF flows will depend on implementation
of several
controversial moves toward privatization and on downsizing the
the military, on which the regime depends to stay in power.

This small sub-Saharan economy is heavily
dependent
on both commercial and subsistence agriculture, which
provides
employment for more than 60% of the labor force. Cocoa,
coffee, and
cotton together generate about 30% of export earnings.
Togo is
self-sufficient in basic foodstuffs when harvests are normal. normal, with
occasional regional supply difficulties. In the industrial sector,
phosphate mining is by far the most
important activity, although it
has suffered from the collapse of
world phosphate prices and increased
foreign competition. Togo serves
as a regional commercial and trade
center. 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
stalled. Political
unrest, including private and public sector strikes
throughout 1992
and 1993, has jeopardized the reform program, shrunk
the tax base, and
disrupted vital economic activity. Although strikes had ended in 1994, The 12 January
political unrest and lack 1994 devaluation of funds prevented the government from currency by 50% provided an important impetus
taking advantage of to renewed structural adjustment; these efforts were facilitated by
the 50% currency devaluation end of 12 January 1994. strife in 1994 and a return to overt political calm. The
Resumption of 1998 presidential elections provide an important opportunity for
Togo's evolving political system to demonstrate that the country can
participate in a peaceful and effective manner with World Bank and IMF flows will depend
programs. Progress depends on implementation continuing privatization, increased
of several controversial moves toward privatization transparency in government accounting to accommodate increased social
service outlays, and on possible downsizing
of the military, on which the
regime depends has depended to stay in power. place.

This small sub-Saharan economy is heavily dependent
dependent on both commercial and subsistence agriculture, which provides
provides employment for more than 60% 65% of the labor force. Cocoa, coffee, and
cotton together generate about 30% of export earnings. Togo is
self-sufficient in basic foodstuffs when harvests are normal, with
occasional regional supply difficulties. In the industrial sector,
phosphate mining is by far the most important activity, although it
has suffered from the collapse of world phosphate prices and increased
increased foreign competition. Togo serves as a regional commercial
and trade
center. The government's decade-long effort, supported by
the World
Bank and the IMF, to implement economic reform measures, encourage
encourage foreign investment, and bring revenues in line with
expenditures has
stalled. Political unrest, including private and
public sector strikes
throughout 1992 and 1993, has jeopardized the
reform program, shrunk
the tax base, and disrupted vital economic
activity. The 12 January
1994 devaluation of the currency by 50%
provided an important impetus
to renewed structural adjustment;
these efforts were facilitated by
the end of strife in 1994 and a
return to overt political calm. The
1998 presidential elections provide an important opportunity for
Togo's evolving political system to demonstrate that the country can
participate in a peaceful and effective manner with World Bank and IMF
programs. Progress depends on continuing following
through on privatization, increased
transparency in government
accounting to accommodate increased social
service outlays, and
possible downsizing of the military, on which the
regime has
depended to stay in place. However, in late 1998 the EU suspended
aid and trade preferences for Togo because of grave doubts over the
conduct of the presidential elections. The World Bank also suspended
its disbursements at yearend 1998 because Togo was unable to pay its
arrears.

This small sub-Saharan economy is heavily
dependent on both commercial and subsistence agriculture, which
provides employment for 65% of the labor force. Cocoa, coffee, and
cotton together generate about 30% of export earnings. Togo is
self-sufficient in basic foodstuffs when harvests are normal, with
occasional regional supply difficulties. In the industrial sector,
phosphate mining is by far the most important activity, although it
has suffered from the collapse of world phosphate prices and
increased foreign competition. Togo serves as a regional commercial
and trade center. 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 stalled. Political unrest, including private and
public sector strikes throughout 1992 and 1993, jeopardized the
reform program, shrunk the tax base, and disrupted vital economic
activity. The 12 January 1994 devaluation of the currency by 50%
provided an important impetus to renewed structural adjustment;
these efforts were facilitated by the end of strife in 1994 and a
return to overt political calm. Progress depends on following
through on privatization, increased transparency openness in government
accounting to financial operations (to accommodate increased social service outlays, outlays), and
possible downsizing of the military, on which the regime has
depended to stay in place. However, in late 1998 the EU suspended
aid and trade preferences for Togo because Lack of grave doubts over the
conduct aid, along with depressed cocoa prices, generated a 1% fall in GDP in 1998, with growth resuming in 1999. Assuming no deterioration of the presidential elections. The World Bank also suspended
its disbursements at yearend 1998 because Togo was unable political atmosphere, growth should rise to pay its
arrears. 5% a year in 2000-01.

This small sub-Saharan economy is heavily dependent on both commercial and subsistence agriculture, which provides employment for 65% of the labor force. Cocoa, Some basic foodstuffs must still be imported. Together, cocoa, coffee, and cotton together generate about 30% some 40% of export earnings. Togo is self-sufficient in basic foodstuffs when harvests are normal, earnings, with occasional regional supply difficulties. cotton being the most significant cash crop despite falling prices on the world market. In the industrial sector, phosphate mining is by far the most important activity, although it has suffered activity. Togo is the world's fourth largest producer, and geological advantages keep production costs low. The recently privatized mining operation, Office Togolais des Phosphates (OTP), is slowly recovering from a steep fall in prices in the collapse early 1990's, but continues to face the challenge of world phosphate prices and increased tough foreign competition. competition, exacerbated by weakening demand. Togo serves as a regional commercial and trade center. It continues to expand its duty-free export-processing zone (EPZ), launched in 1989, which has attracted enterprises from France, Italy, Scandinavia, the US, India, and China and created jobs for Togolese nationals. 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 stalled. Political unrest, including private and public sector strikes throughout 1992 and 1993, jeopardized the reform program, shrunk the tax base, and disrupted vital economic activity. The 12 January 1994 devaluation of the currency by 50% provided an important impetus to renewed structural adjustment; these efforts were facilitated by the end of strife in 1994 and a return to overt political calm. Progress depends on following through on privatization, increased openness in government financial operations (to accommodate increased social service outlays), operations, progress towards legislative elections, and possible downsizing of the military, on which the regime has depended to stay in place. Lack of foreign aid, along with deterioration of the financial sector, energy shortages, and depressed cocoa prices, generated commodity prices continue to constrain economic growth; however, Togo did realize a 1% fall 3% gain in GDP in 1998, with growth resuming in 1999. Assuming no deterioration The takeover of the political atmosphere, national power company by a Franco-Canadian consortium in 2000 should ease the energy crisis and if successful legislative elections pave the way for increased aid, growth should rise to 5% a year in 2000-01. 2001-02.

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. Together, cocoa, Cocoa, coffee, and cotton generate some about 40% of export earnings, with cotton being the most significant cash crop despite falling prices on the world market. Political unrest, including private and public sector strikes throughout 1992 and 1993, jeopardized the reform program, shrunk the tax base, and disrupted vital economic activity. The 12 January 1994 devaluation of the XOF currency by 50% provided an important impetus to renewed structural adjustment. In the industrial sector, phosphate mining is by far the most important activity. Togo is the world's fourth largest producer, and geological advantages keep production costs low. The recently privatized mining operation, Office Togolais des Phosphates (OTP), is slowly recovering from a steep fall in prices in the early 1990's, but continues to face the challenge of tough foreign competition, exacerbated by weakening demand. Togo serves as a regional commercial and trade center. It continues to expand its duty-free export-processing zone (EPZ), launched in 1989, which has attracted enterprises from France, Italy, Scandinavia, the US, India, and China and created jobs for Togolese nationals. 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 stalled. Progress depends on following through on privatization, increased openness in government financial operations, progress towards legislative elections, and possible downsizing of the military, on which the regime has depended to stay in place. Lack of large-scale foreign aid, deterioration of the financial sector, energy shortages, and depressed commodity prices continue to constrain economic growth; however, Togo did realize a 3% gain in GDP in 1999. growth. The takeover of the national power company by a Franco-Canadian consortium in 2000 should ease the energy crisis and if successful legislative elections pave the way for increased aid, growth should rise to 5% a year in 2001-02. crisis.

This small 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. 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 follow-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.

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, 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 follow-through follow 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 Poverty Reduction and Growth Facility (PRGF) that could eventually lead to a debt reduction plan.

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 follow 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 Poverty Reduction and Growth Facility (PRGF) that could eventually lead to a debt reduction plan. Economic growth remains marginal due to declining cotton production, underinvestment in phosphate mining, and strained relations with donors.

This small, sub-Saharan economy is suffers from anemic economic growth and depends 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 follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Togo is working on track with donors to write a Poverty Reduction and Growth its IMF Extended Credit Facility (PRGF) that could eventually lead to and reached a HIPC debt reduction plan. relief completion point in 2010 at which 95% of the country's debt was forgiven. Economic growth remains prospects remain marginal due to declining cotton production, production and underinvestment in phosphate mining, and strained relations with donors. mining.

This small, sub-Saharan economy suffers from anemic economic growth and depends heavily on both commercial and subsistence agriculture, which provides employment for 65% a significant share 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 among the world's fourth-largest producer largest producers of phosphate. phosphate and Togo seeks to develop its carbonate phosphate reserves. 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 follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo is on track with completed its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Economic growth prospects remain marginal due Togo continues to declining cotton production and underinvestment in phosphate mining. work with the IMF on structural reforms.

This small, sub-Saharan economy suffers from anemic economic growth and depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share 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 among the world's largest producers of phosphate and Togo seeks to develop its carbonate phosphate reserves. 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 follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo completed its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms.

This small, sub-Saharan economy depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share 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 among the world's largest producers of phosphate and Togo seeks to develop its carbonate phosphate reserves. 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 follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo completed its IMF Extended Credit Facility in 2011 and reached a HIPC Heavily Indebted Poor Country (HIPC) debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms.

This small, sub-Saharan economy depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share 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 among the world's largest producers of phosphate and seeks to develop its carbonate phosphate reserves.
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 follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo completed its IMF Extended Credit Facility in 2011 and reached a Heavily Indebted Poor Country (HIPC) debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.
Togo’s 2015 economic growth remained steady at 5.4%, largely driven by infusions of foreign aid, infrastructure investment in the port and mineral sectors, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.

This small, sub-Saharan Togo is enjoying a period of steady economic growth fueled by political stability and a concerted effort by the government to modernize the country’s commercial infrastructure. The country has recently completed an ambitious large-scale infrastructure improvement program, including new principal roads, a new airport terminal, and a new sea-port. The economy depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share around 60% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton and other agricultural products generate about 40% 20% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and seeks to develop its carbonate phosphate reserves. reserves, which provide more than 20% of export earnings.
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. Togo completed its IMF Extended Credit Facility in 2011 and reached a Heavily Indebted Poor Country debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms. reforms, and is currently finalizing IMF approval for an agreement on an Extended Credit Facility arrangement consisting of a three-year $238 million loan package. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.
Togo’s 2015 2016 economic growth remained steady at 5.4%, 5.3%, largely driven by infusions of foreign aid, infrastructure investment in the port and mineral sectors, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.

Togo is enjoying has enjoyed a period of steady economic growth fueled by political stability and a concerted effort by the government to modernize the country’s commercial infrastructure. infrastructure, but discontent with President Faure GNASSINGBE has led to a rapid rise in protests, creating downside risks. The country has recently completed an ambitious large-scale infrastructure improvement program, including new principal roads, a new airport terminal, and a new sea-port. seaport. The economy depends heavily on both commercial and subsistence agriculture, which provides providing employment for around 60% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton and other agricultural products generate about 20% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and seeks to develop its carbonate phosphate reserves, which provide more than 20% of export earnings.
The government's decade-long effort, supported Supported by the World Bank and the IMF, the government's decade-long effort to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Togo completed its IMF Extended Credit Facility in 2011 and reached a Heavily Indebted Poor Country debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms, and is currently finalizing in January 2017, the IMF approval for an agreement on signed an Extended Credit Facility arrangement consisting of a three-year $238 million loan package. Progress depends on follow through on privatization, increased openness transparency in government financial operations, progress toward legislative elections, and continued support from foreign donors.
Togo’s 2016 2017 economic growth probably remained steady at 5.3%, 5.0%, largely driven by infusions of foreign aid, infrastructure investment in the its port and mineral sectors, industry, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.

Togo has enjoyed a period of steady economic growth fueled by political stability and a concerted effort by the government to modernize the country’s commercial infrastructure, but discontent with President Faure GNASSINGBE has led to a rapid rise in protests, creating downside risks. The country completed an ambitious large-scale infrastructure improvement program, including new principal roads, a new airport terminal, and a new seaport. The economy depends heavily on both commercial and subsistence agriculture, providing employment for around 60% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton and other agricultural products generate about 20% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and seeks to develop its carbonate phosphate reserves, which provide more than 20% of export earnings.
Supported by the World Bank and the IMF, the government's decade-long effort to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Togo completed its IMF Extended Credit Facility in 2011 and reached a Heavily Indebted Poor Country debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms, and in January 2017, the IMF signed an Extended Credit Facility arrangement consisting of a three-year $238 million loan package. Progress depends on follow through on privatization, increased transparency in government financial operations, progress toward legislative elections, and continued support from foreign donors.
Togo’s 2017 economic growth probably remained steady at 5.0%, largely driven by infusions of foreign aid, infrastructure investment in its port and mineral industry, and improvements in the business climate. Foreign direct investment inflows have slowed in recent years.