Independence Monument in Lome – Togo

DISCOVER TOGO

 

  • Country Profile
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. 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. 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.

Source: Central Intelligence Agency (CIA) Library

  • AGOA Apparel Status

Togo was designated as AGOA Eligible Country on April 17th 2008. Togo has not yet been declared eligible for Apparel Provision and does not benefit the Lesser Developed Country Special Rule for Apparel (3rd country fabric) nor Lesser Developed Country Rule for Certain Textile Articles (Category 0). Regarding the Category 9 Textile Products, Togo is not yet eligible to export Handloomed / Handmade, nor the folklore annex and ethnic printed fabrics.