In 2019, Togo’s food import bill was CFA158 billion

Economy
Tuesday, 15 September 2020 10:04
In 2019, Togo’s food import bill was CFA158 billion

(Togo First) - In 2019, Togolese imports were twice its exports, despite the latter having slightly increased over the period.

The country’s exports generated CFA647 billion (fob) over the period while it spent CFA1,287 billion on imports (at customs value), thus about CFA110 billion more than it did in 2018. 

The new statistics published by the BCEAO and based on Togolese customs data also reveal that Togo sells cocoa, coffee, pineapples, energy, and chemical products, and other raw materials in exchange for food products. 

Last year, imports of consumer goods bill amounted to CFA392 billion. They were mainly dominated by food products which were estimated at CFA158 billion.

This contrasts with the overall trend in the WAEMU where imports of consumer goods declined marginally by 1% from their 2018 level. As for imports of food products (55.8% of consumer goods), they were down by more than 4%.

While Nigeria’s decision to close its border with Benin and Niger has lowered the Union's food purchase bill, Togo seemed to have narrowly escaped the Buhari restrictions. However, it is mainly Lomé’s re-exports that suffered the latter. Indeed, over the period considered, re-exports plunged by almost 50%, mainly due to the drop in used vehicle traffic since 20 August 2019.

Fiacre E. KAKPO

 
Sondage
Should we encourage young togolese toward agriculture?
  • 57 Votes
    Yes
    55.88%
  • 25 Votes
    No
    24.51%
  • 20 Votes
    Don't have opinion
    19.61%
← Back
Total 102 Votes

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.