Trade misinvoicing cost Togo almost $4 billion in 2008-2017 (report)

Economy
Tuesday, 06 July 2021 18:50
Trade misinvoicing cost Togo almost $4 billion in 2008-2017 (report)

(Togo First) - Togo lost at least $3.9 billion between 2008 and 2017 due to trade misinvoicing. The figure is disclosed in a report recently published by Global Trade Integrity. 

The American NGO said that on average Togo lost about $361 million or 30% of its total trade, per year, with the 36 advanced economies in the world, over 2008-2017. This makes it the second developing country worldwide, after Gambia (whose average is 37% per year), to have lost the most over the period.  

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