Togo: Performance in the trade sector was up in July

Economy
Wednesday, 21 October 2020 16:29
Togo: Performance in the trade sector was up in July

(Togo First) - In July 2020, the overall performance of commercial services in Togo grew by 8.8%, driven by sales and business operations. 

Right behind the country are Ivory Coast (+2.9%) and Guinea (+0.5%), according to data by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO). The three countries, over the period concerned, were the only ones to have recorded a positive performance. 

In Mali, Senegal, Niger, Burkina Faso, and Benin, turnovers of businesses operating in the services sector fell by 11.8%, 5.9%, 3%, and 0.4% respectively. 

Overall, this figure slumped by 2% in July 2020, thus 5 percentage points less than the figure recorded the same month last year (+3%), despite a recovery of non-finance services. 

In general, the retail turnover index was up by 6.8% in July 2020, but less impressive than the month before (+11.5%). According to the BCEAO, the upward trend is attributable to better sales of food products (in Togo, Benin, Burkina Faso, and Ivory Coast), housing equipment (in all WAEMU countries apart from Niger and Senegal), and new cars ( in Benin, Ivory Coast, Senegal, and Togo).

Ayi Renaud Dossavi

 
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