Togo is a tertiary economy, not primary

Economic governance
Friday, 03 May 2019 13:00
Togo is a tertiary economy, not primary

(Togo First) - Though agriculture is its main driver, Togo’s economy is tertiary not primary, according to data compiled by Togo First and dating from 2015.

In the country, services contributes 59.1% of gross domestic product (GDP) which is estimated at XOF2,935.7 billion (nominal GDP at market prices), shows provisional data released by the BCEAO end-April.

Also, while it has been contracting since 2016, the tertiary sector still is twice the size of the primary sector (26.2%), and four times that of the secondary sector. The latter, it should be noted, is among the least important across the West African Economic and Monetary Union (WAEMU).

It should also be emphasized the tertiary sector benefits from agriculture’s dynamism, an industry now oriented towards processing and subsequently creating new niches with value-added.

After Senegal, Togo was in 2018 second in terms of dominant tertiary sector in the WAEMU.

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