Togo: Exports garnered CFA256.4 billion in Q4 2023

Economic governance
Wednesday, 21 February 2024 17:03
Togo: Exports garnered CFA256.4 billion in Q4 2023

(Togo First) - Exports from Togo earned the country CFA256.4 billion in Q4 2023. The data was disclosed by the National Data Institute, INSEED. 

Main export products

Over the period reviewed, "Petroleum oils or bituminous minerals" were the main exports. They generated CFA69 billion and represented 27.0% of quarterly exports.

"Natural calcium phosphates, natural alumino-calcium phosphates, and phosphate chalk" followed. They generated CFA38 billion and made up 15.1% of exports. 

Next came soy-based products (oilcake and other solid residues from the extraction of soybean oil) (CFA14 billion FCFA for a 5.5% share).

Togo also sold "Plastic bags, sacks, pouches, and cones", earning CFA13.6 billion from these goods (which made 5.3% of the country's exports in Q4 2023). 

Exports of beauty products generated CFA13.16 billion (for a 5,1% share volume-wise). 

Other exports included refined palm oil and its fractions, worth CFA8.9 billion (3.5% of exports), other beauty products and extensions (Wigs, beards, eyebrows, eyelashes, locks, and similar articles of hair or textile materials; articles of hair), for CFA8.3 billion or 3.2%. 

 Extractive and agricultural products came at the bottom of Togo’s top 10 exports in Q4 2023. They include soybeans (CFA7.2 billion, 2.8% share), clinkers (CFA7 billion, 2.8%), and Cotton (excluding linters) (for CFA6.4 billion, 2.5%). 

The top 10 made up 72.8% of all exports, generating CFA186.7 billion.


"Petroleum or bituminous mineral oils (excluding crude oils) and preparations" dominated imports, with a value of CFA30.8 billion and a 6.9% share. "Motor vehicles for the transport of persons" followed (CFA24 billion FCFA, 5.4%). Togo spent CFA18 billion to import "Refined palm oil and derivates". They made up 4% of all imports in Q4 2023. Over this period, imports stood at CFA448 billion, which translates into a trade balance deficit of CFA192 billion.

Trade balance improves

Compared to Q4 2022, Togolese exports went up 14.4% in value and 7.0% in quantity. Imports fell by 7.0% in value but rose by 3.6% in quantity. The trade deficit thus improved, year-on-year, with a significant drop of 25.5%.

From Q3 2023 to Q4 2023, exports rose by 33.3% in value and 18.3% in quantity. Imports also increased by 0.7% in value and 2.0% in quantity. The trade deficit was thus down by 24.2% quarter-on-quarter.

Ayi Renaud Dossavi

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