Economy of Togo: growth drivers, trade and investment

Economy of Togo: services, agriculture and industry

The economy of Togo rests on services, agriculture and a growing industrial base, in a country that belongs to WAEMU and whose currency is the CFA franc (XOF). According to the World Bank, real gross domestic product growth reached 6.5% in 2024 and then about 6.3% in 2025, driven by trade, transport and construction.

Growth and structure of GDP

According to the provisional national accounts, real GDP reached 5,649.2 billion CFA francs in 2025, against 5,314.8 billion in 2024. Services grew by 7.0%, industry and construction by 7.5% and the primary sector by 4.2%. Transport and storage gained 16.2%, information and communication 17.2% and construction 16.9%.

According to the French Treasury, services accounted for about 57% of GDP in 2024, industry for 23% and agriculture for 20%. Agriculture employs close to 65% of the working population. Inflation stood at 2.9% in 2024, after 5.3% in 2023.

Agriculture, phosphates and industry

The agricultural sector employs most of the working population without ensuring food self-sufficiency. Cotton, coffee and cocoa are among the traditional export crops, and the soybean sector has developed in recent years. A 300 million dollar programme, AgriConnect, was approved in 2025 by the World Bank to support agricultural production.

Phosphates remain the leading export, ahead of petroleum or bituminous mineral oils and plastic articles, according to the French Treasury. Industry also includes food processing and building materials.

Foreign trade and the port of Lomé, an asset of the economy of Togo

The port of Lomé, a deep-water port on the Gulf of Guinea, handled 2.4 million TEU in 2025, against 2.06 million in 2024, according to the Lloyd's List ranking, which places it 91st in the world. The 2025 dredging brought the channel to a depth of 18.60 metres, which allows it to receive container ships of 19,000 to 24,000 TEU.

Transshipment and transit to Burkina Faso, Mali and Niger feed service revenue, as the port serves the landlocked countries of the Sahel. The trade deficit reached 1,125 billion CFA francs in 2024, 16% more than in 2023, because the country imports most of its food and hydrocarbons.

Investment, public finances and employment

Public debt represented 72.1% of GDP in 2024, and in July 2025 the International Monetary Fund lowered the risk of debt distress from "high" to "moderate". Lomé is home to the headquarters of the West African Development Bank (BOAD) and of the Ecobank group, which makes it a regional banking centre.

According to the International Finance Corporation, it invested or mobilised about 320 million dollars between 2020 and 2025 to support the Togolese private sector. The World Bank is following 20 operations worth 2.1 billion dollars. About 60% of people of working age are underemployed, which makes formal employment the main challenge.