structural:summarization
Economy

The country possesses phosphate deposits and an export sector based on agricultural products such as coffee, cocoa bean, and peanuts (groundnuts), which together generate roughly 30% of export earnings. Cotton is a cash crop. The fertile land occupies 11.3% of the country, most of which is developed. Some crops are cassava, jasmine rice, maize and millet. Some other sectors are brewery and the textile industry. Low market prices for Togo's major export commodities coupled with the volatile political situation of the 1990s and 2000s had a negative effect on the economy.

It is listed in the least developed country group. It serves as a regional commercial and trade centre. The government's decade-long efforts supported by the World Bank and the International Monetary Fund (IMF) to carry out economic reforms, to encourage investments, and to create the balance between income and consumption has stalled. Political unrest, including private and public sector strikes throughout 1992 and 1993, jeopardized the reform program, shrank the tax base, and disrupted economic activities in the country. Togo was ranked 114th in the Global Innovation Index in 2023.

It imports machinery, equipment, petroleum products, and food. Its main import partners are France (21.1%), the Netherlands (12.1%), Côte d'Ivoire (5.9%), Germany (4.6%), Italy (4.4%), South Africa (4.3%) and China (4.1%). The main exports are cocoa, coffee, re-export of goods, phosphates and cotton. "Major export partners" are Burkina Faso (16.6%), China (15.4%), the Netherlands (13%), Benin (9.6%) and Mali (7.4%).

In terms of structural reforms, it has made progress in the liberalization of the economy, namely in the fields of trade and port activities. The privatization program of the cotton sector, telecommunications and water supply has stalled.

On 12 January 1994, the devaluation of the currency by 50% provided an impetus to renewed structural adjustment; these efforts were facilitated by the end of strife in 1994 and a return to overt political calm. Progress depends on increased openness in government financial operations (to accommodate increased social service outlays) and possible downsizing of the armed forces, on which the regime has depended to stay in place. Lack of aid and depressed cocoa prices generated a 1% fall in GDP in 1998, with growth resuming in 1999. Togo is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).

Agriculture is the "backbone" of the economy. A shortage of funds for the purchase of irrigation equipment and fertilizers has reduced agricultural output. Agriculture generated 28.2% of GDP in 2012 and employed 49% of the working population in 2010. The country is essentially self-sufficient in food production. Livestock production is dominated by cattle breeding.

Mining generated about 33.9% of GDP in 2012 and employed 12% of the population in 2010. Togo has the fourth-largest phosphate deposits in the world. Their production is 2.1 million tons per year. There are reserves of limestone, marble and salt. Industry provides 20.4% of Togo's national income, as it consists of light industries and builders. Some reserves of limestone allows Togo to produce cement.