Togo earned CFA748.6 billion from goods exports in 2021

Economic governance
Tuesday, 22 November 2022 14:09
Togo earned CFA748.6 billion from goods exports in 2021

(Togo First) - Togo earned more last year from its goods exports than it did in 2020. The segment generated CFA748.6 billion or 7.1% more than 2020’s CFA695 billion. The figures were posted by the Banque Centrale des Etats d'Afrique de l'Ouest (BCEAO), in its latest report on external trade in the WAEMU.

Thus, last year’s performance sustains a growth trend that started since 2017; that year, Togo’s goods exports revenues stood at CFA591.5 billion.

Last year, Togo mostly exported raw materials and intermediate goods, earning CFA158.6 billion from them (+23.4% compared to 2020). Revenues from capital goods exports also rose in 2021, from CFA47.1 billion to CFA66.7 billion (+41.6%).

Growth was more moderate for food exports. Over the year under review, they generated CFA118.5 billion for Togo, which is 1.3% more than in 2020 when they stood at CFA116.9 billion.

The main food products exported by Togo in 2021 were Chocolate and Cocoa, which earned the country CFA10.6 billion, Cereals and Flour (CFA11.1 billion), and Fats and Oils (CFA45.5 billion).

Togo also improved its share in the WAEMU’s overall goods exports. From 3.2% in 2020, this share rose to 3.7% in 2021. Overall, the Union’s eight (8) member States earned, last year, 20,466 billion CFA from exporting goods.

Ayi Renaud Dossavi

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