Togo: Exports revenues record significant growth between 2012 and 2022

Economic governance
Saturday, 16 March 2024 05:11
Togo: Exports revenues record significant growth between 2012 and 2022

(Togo First) - Togolese exports grew from CFA566.1 billion to CFA841 billion in value from 2012 to 2022. The data, consulted by Togo First, was initially reported by the country’s Institute for Statistics, INSEED. 

According to the source, though there were fluctuations over the decade concerned, the figure grew from year to year on average, and so did activity at the port of Lomé. 

From 566.1 billion in 2012, exports lept to 637.3 billion the next year, plunged by 26% in 2014, and soared back up to 598.3 billion in 2019.

Then Covid hit

Togo earned 561.1 billion from exports in 2020. The following year, the number grew to 598.8 billion. 

But 2022 turned the tables

In the year closing the decade reviewed, the country’s export revenues soared by 40% to CFA841 billion. 

The trend stood with export revenues standing at 424.1 billion in the first half of 2023, according to the INSEED. 

However, trade balance widens (more and more)

Over the same 10 years reviewed, import spending grew significantly, reflecting Togo’s dependency on foreign countries.

From 939.2 billion in 2012, the country spent CFA1,741.2 billion to buy foreign goods in 2022. 

Contrasting with export earnings, Togo recorded a negative trade balance of 900.2 billion in 2022, against -373.1 billion in 2012. 

Ayi Renaud Dossavi

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