How much did Togo spend on imports of petroleum products in 2018-2020?

Oil and gas
Monday, 14 June 2021 17:39
How much did Togo spend on imports of petroleum products in 2018-2020?

(Togo First) - Between 2018 and 2020, Togo imported CFA472 billion worth of petroleum products, data from the West African Development Bank (BCEAO) shows. 

The amount breaks down into CFA167 billion, CFA165 billion, and CFA140 billion in 2018, 2019, and 2020 respectively. The significant slump in the last year, 15%, is attributable to the pandemic which caused oil prices to plunge drastically.

Imports of oil and its derivatives represented about 15% of all goods Togo imported over the three years reviewed. In terms of volume, while that imported in 2020 is yet to be known, the country bought 758,219 tons of petroleum products in 2019, almost the same as it did in 2018 (758,218 tons).  

The government, let’s recall, recently increased pump prices, following a recommendation of the Comité de Suivi des Fluctuations des Prix des Produits Pétroliers (CSFPPP), a committee that monitors fluctuations in prices of petroleum products. 

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