How much does the maritime sector contribute to the Togolese economy?

Economic governance
Thursday, 10 June 2021 13:37
How much does the maritime sector contribute to the Togolese economy?

(Togo First) - In Togo, 70% of economic activities are related to the coastline and the country gets more than 75% of its tax earnings from them. The figures were disclosed last Tuesday, World Oceans day, by the minister of maritime economy, fishery, and coast protection, Edem Tengue. 

According to Togolese authorities, trade via the port of Lomé generates a massive portion of the State’s revenues. In detail, says minister of transports Zouréatou Kassa Traoré, customs revenues garnered at the Port of Lomé make up 80% of all sea-related activities and 60% of the State’s earnings. In 2019, the volume of goods that passed through the port stood at 22.610 million tons, against 22.117 million tons the year before. 

For the fishery sector, it represents 4.5% of the GDP and employs more than 20,000 people. Each year, the country is estimated to produce 20,000 tons of fishes but reached a peak of 37,000 tons in 2018-2019 according to data from the Fishery and Aquaculture Directorate (DPA). 

Tengue says these numbers translate the importance of the ocean to the Togolese economy, and thus the need to protect it. “The ocean is an important asset for humanity and it deserves to be preserved. We must find the right balance between human activities and the preservation of the ocean,” he declared. 

Togo, to preserve the sea and regulate related activities, took many initiatives, such as establishing the High Council for the Sea (HCM). It also ratified multiple international agreements, to fight illegal actions at sea. Last May, a law to protect and valorize the Togolese coast was also adopted by the State.

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