Togo’s Nominal GDP Crosses Historic 6,000 Billion CFA Franc Milestone

Economic governance

Tuesday, 16 September 2025 14:56

Togo’s Nominal GDP Crosses Historic 6,000 Billion CFA Franc Milestone

(Togo First) - • Togo's GDP crosses historic 6,000 billion CFA franc threshold, reaching 6,458.3 billion in 2024

• Economy grows 6.5% in real terms, outpacing WAEMU average of 5.5% despite volatile quarterly performance

• Growth driven by services (+6.1%), construction boom (+44.7%), and strong performance at Port of Lomé exceeding 30 million tonnes

Togo reached a symbolic economic milestone in 2024 as its nominal gross domestic product exceeded 6,000 billion CFA francs for the first time in history. The National Statistics Committee estimates the indicator hit 6,458.3 billion CFA francs, up from 5,954.2 billion the previous year.

Meanwhile, Real GDP grew 6.5% in volume terms, slightly above 2023's 6.2% rate. This performance placed Togo above the West African Economic and Monetary Union average of 5.5%. However, growth proved volatile with a first-quarter decline of 5.8% offset by a spectacular 17.7% surge in the fourth quarter.

Three sectors drove the expansion. The tertiary sector generated 2,716.9 billion CFA francs in value added, growing 6.1% and contributing 2.7 points to overall growth. Trade jumped 16% to 1,054.7 billion CFA francs. Telecommunications rose 11.4% to 324.4 billion CFA francs. Business services surged 18.5% to 245.8 billion CFA francs.

The secondary sector accelerated sharply, rising 7.1% to 1,338.7 billion CFA francs. Construction led this momentum with a 44.7% leap to 418.4 billion CFA francs. Metallurgy grew 23.1% to 116.2 billion CFA francs. Agrifood expanded 5.2% to 497.5 billion CFA francs.

The primary sector recorded 5.9% growth, representing 1,036.9 billion CFA francs in added value. Performance dipped slightly from 2023 but remained supported by strong agricultural harvests and planned agricultural zones.

Major infrastructure projects proved crucial. The Plateforme Industrielle d'Adétikopé entered full operation with new textile and agrifood units. The Port of Lomé exceeded 30 million tonnes of traffic, consolidating its regional hub status. Digital service upgrades from customs to payments streamlined business operations across sectors.

Fiacre E. Kakpo

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.