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Business images of Togo

Economy of Togo

The economy of Togo has struggled greatly. The International Monetary Fund (IMF) ranks it as the tenth poorest country in the world,with development undercut by political instability, lowered commodity prices, and external debts. While industry and services play a role, the economy is dependent on subsistence agriculture, with industrialization and regional banking suffering major setbacks.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.

Top Sectors in Togo

Agriculture in Togo

The majority of the Togolese population depends on subsistence agriculture. Its agricultural products includes coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, pearl millet, sorghum and livestock such as fish. Food and cash crop production employs the majority of the labor force and contributes about 42% to the gross domestic product (GDP). Coffee and cocoa are traditionally the major cash crops for export, but cotton cultivation increased rapidly in the 1990s, with 173,000 metric tons produced in 1999. After a disastrous harvest in 2001 (113,000 metric tons), cash crops production rebounded to 168,000 metric tons in 2002. Despite insufficient rainfall in some areas, the Togolese Government has achieved its goal of self-sufficiency in food crops maize, cassava, yams, sorghum, pearl millet, and groundnut. Small and medium-sized farms produce most of the food crop; the average farm size is one to three hectares.

Mining in Togo

In the industrial sector, phosphates are Togo's most important commodity, and the country has an estimated 60 million metric tons of phosphate reserves. From a high point of 2.7 million tons in 1997, production dropped to approximately 1.1 million tons in 2002. The fall in production is partly the result of the depletion of easily accessible deposits and the lack of funds for new investment. The formerly state-run company Société Nouvelle des Phosphates du Togo (New Phosphate Company of Togo) appears to have benefited from private management, which took over in 2001. Togo also has substantial limestone and marble deposits.


Togo - Key Economic Indicators

Exports & Imports

Togo's main exports are gold, refined petroleum, calcium phosphates, soybeans, and electricity. It imports a wider range of goods, including machinery, vehicles, fuels, and food products. Recent data suggests strong export growth, with leading exports like natural calcium phosphates reaching $280 million in 2023 [TrendEconomy]. However, Togo generally runs a trade deficit, meaning it imports more than it exports.

Balance of Trade

As mentioned above, Togo has a negative trade balance. In 2023, the total export value was $1,079 million, while imports reached $2,863 million, resulting in a deficit of nearly $1.8 billion.

Infrastructure Development

The government is investing in infrastructure development, particularly roads. Recent projects include expanding the national highway network and improving rural access. However, Togo still faces challenges in maintaining its existing 11,000 kilometers of roads and expanding them further

Fiscal Policy

The Togolese government is focused on increasing public spending to support economic growth and social development. This can be achieved by raising taxes or borrowing money. Recent data indicates a focus on improving tax collection efficiency to generate more government revenue.

Monetary Policy

Togo's monetary policy is primarily determined by the Central Bank of West African States (BCEAO). The BCEAO focuses on controlling inflation and maintaining regional financial stability. Their most recent interest rate decision was in March 2024 .

Trade Agreements

Togo is a member of several regional trade agreements, such as the Economic Community of West African States (ECOWAS). These agreements aim to facilitate trade between member countries by reducing tariffs and other barriers. A recent development is the implementation of a common external tariff within ECOWAS, further promoting regional trade integration .

Environmental Regulations

Togo has established environmental regulations to address issues like deforestation, pollution, and waste management. However, enforcing these regulations can be challenging due to limited resources and competing economic priorities. Recent efforts include a national strategy for plastic waste management launched in 2023.

Tax System in Togo

Capital gains tax: Togo applies a capital gains tax of 2.5% on profits exceeding a certain threshold.
Corporate tax rate: The standard corporate tax rate in Togo remains at 27%, following the reduction from 28% implemented in 2019.
Sales tax (VAT): Togo levies a Value Added Tax (VAT) of 18% on most goods and services.However, the specific sectors enjoying a reduced rate of 10% (accommodation, catering, specific tourism services) may be subject to revisions, so consulting a tax professional is advisable.
Property tax: Property tax in Togo still varies depending on location and the type of property. It's typically levied on the rental value of the real estate.
Payroll tax: Togo's payroll tax system remains in effect. Employers contribute 3% of gross salaries, while employees contribute 4% for social security purposes.
Tax deductions and credits: Togo offers tax deductions and credits for certain expenses, investments, and social contributions. However, specific details on these exemptions and incentives are likely to change.
Tax compliance: Tax compliance in Togo is considered to be improving, with the Togo Revenue Authority (OTR) continuing its efforts to streamline tax administration and collection. The effectiveness of these efforts is a complex issue and recent data might be limited.
Tax burden: Compared to some regional neighbors, Togo's tax burden is considered moderate. The government has made efforts to increase tax collection efficiency, as evidenced by recent data from the International Monetary Fund (IMF) reports.

33 Live Notices for Togo ....

Showing 1 to 20

Supply, Installation, Training And Commissioning Of Solar Water Pumps In Togo
country Togo
posting date29 Aug 2025
deadline12 Sep 2025
Supply, Installation, Training And Commissioning Of Solar Water Pumps In Togo
country Togo
posting date29 Aug 2025
deadline12 Sep 2025
Friend - Togo - Cabinet For (I) Training In Managerial And Commercial Techniques Of Women And Young People, Support For Structuring In Cooperatives And Monitoring -Support - Precos
country Togo
posting date29 Aug 2025
deadline08 Sep 2025
Achat De Refrigerateurs De Laboratoire Et Des Atomiseurs De Desinfection
country Togo
posting date26 Aug 2025
deadline09 Sep 2025
Realisation Et/Ou Rehabilitation De 08 Forages Equipes De Pompes Hybrides (Solaires Et Manuelles) Dans Les Regions Des Savanes (06 Nouveaux Forages Et 01 A Rehabiliter) Et De La Kara (1 Nouveau Forage
country Togo
posting date26 Aug 2025
deadline15 Sep 2025
Achat De Fertilisants Npk 10-20-20 Et Uree 46%N Pour Le Togo
country Togo
posting date26 Aug 2025
deadline09 Sep 2025
Provision of RECRUITMENT OF MANAGERS FOR THE IMPLEMENTATION OF PASSIR
country Togo
posting date23 Aug 2025
deadline03 Sep 2025
Provision of Recruitment of a Team of Individual Regional ConsultantsFor the Development of the Regional Transboundary Diagnostic Analysis (TDA)(TDA) of the Transboundary Mono River Basin Benin and Togo
country Togo
posting date20 Aug 2025
deadline03 Sep 2025
Republic_Consultant /Elaboration Du Pan, Entreprises & Droits De L'Homme Togo
country Togo
posting date19 Aug 2025
deadline02 Sep 2025
AMI - Togo - Selection of a local NGO responsible for mass communication for the visibility of the project - PRECOS
country Togo
posting date16 Aug 2025
deadline27 Aug 2025
Ami - Togo - Recruitment Of An Ngo For (I) Information And Awareness Of Populations On Water Food, Hygiene And Sanitation - Precos
country Togo
posting date16 Aug 2025
deadline27 Aug 2025
SUPPLY AND INSTALLATION OF IT EQUIPMENT FOR THE BENEFIT OF OTR
country Togo
posting date01 Aug 2025
deadline02 Sep 2025
SELECTION OF A FIRM FOR AN INCUBATION PROGRAM FOR 30-60 STARTUPS IN 3-4 SECTORS AND STRENGTHENING OF A LOCAL STRUCTURE
country Togo
posting date01 Aug 2025
deadline27 Aug 2025
SELECTION OF A FIRM TO RUN AN INCUBATION PROGRAM FOR A COHORT OF 3,060 STARTUPS IN 3-4 KEY SECTORS
country Togo
posting date01 Aug 2025
deadline27 Aug 2025
Selection Of A Consultant For The Progress Of An Additional Incubation Program Of A Cohort Of 30-60 Startups In 3-4 Complementary Sectors With A Different Approach
country Togo
posting date26 Jul 2025
deadline27 Aug 2025
Selection Of A Consultant For The Course Of An Incubation Program For A Cohort Of 30-60 Startups In 3-4 Key Sectors
country Togo
posting date26 Jul 2025
deadline27 Aug 2025
Supply and works for the rural electrification of 172 localities by extension of medium and low voltage electricity networks
country Togo
posting date19 Jul 2025
deadline05 Sep 2025
supply of electrical equipment and the carrying out of electrification works
country Togo
posting date08 Jul 2025
deadline05 Sep 2025
Fourniture et travaux pour l’électrification rurale de 172 localités par extension de réseaux électriques moyenne et basse tension
country Togo
posting date05 Jul 2025
deadline05 Sep 2025
Procision of Improvement of Access-Equity and Quality of Education in Togo
country Togo
posting date04 Sep 2023
deadline31 Dec 2025