What are the primary economic activities in Togo today
Introduction
Togo’s economy is primarily driven by the following key sectors:
Agriculture
Agriculture remains a crucial component of Togo’s economy:
It contributes about 18.3% to the GDP and employs approximately 31% of the active workforce.
Major crops include cassava, yams, maize, millet, and sorghum for food, while cocoa, coffee, and cotton serve as important cash crops.
Soybean production has seen significant growth, increasing from 25,000 tonnes in 2015 to 300,000 tonnes in 2022.
The cashew and shea sectors have also shown promise, with cashew nut yields reaching 112,000 tonnes (valued at over $93 million) between 2018 and 2023.
Services
The services sector is the largest contributor to Togo’s economy:
It accounts for approximately 52.1% of GDP and employs 49% of the active population.
Trade is the biggest component within services, bolstered by the Port of Lomé, one of the largest ports in the region.
The government is investing in tourism development, with the country welcoming one million tourists in 2022.
Industry
The industrial sector plays a significant role in Togo’s economy:
It contributes about 20.5% to GDP and employs 20.4% of the workforce.
Mining, particularly phosphate extraction, is a key industrial activity, with Togo being one of the world’s largest phosphate producers.
Manufacturing accounts for 14% of GDP, with food processing and cement production being notable sub-sectors.
The Adétikopé Industrial Platform (PIA) is driving growth in light manufacturing and agribusiness.
Port and Logistics
Togo is leveraging its strategic location for regional trade:
The Port of Lomé is a major asset, facilitating trade with neighboring countries.
The government aims to modernize the port’s facilities and increase its annual cargo handling capacity.
Emerging Sectors
Togo is actively promoting growth in several emerging sectors:
The government is encouraging private sector participation in agriculture, transport, and logistics.
Efforts are being made to strengthen energy and telecommunications infrastructure.
The country is working to position itself as a logistics and business hub in West Africa.
Conclusion
Despite these economic activities, it’s important to note that the informal sector continues to dominate Togo’s economy, and the government is working to counteract this through public investments and improvements in the business climate.
