Trade: Togo’s share in WAEMU exports fell by 5% average over the past decade

Investments
Wednesday, 04 September 2019 16:32
Trade: Togo’s share in WAEMU exports fell by 5% average over the past decade

(Togo First) - Over the past decade (from 2008 to 2018), Togo’s share of exports in the West African Economic and Monetary Union (WAEMU) slumped by 5% average per year. From 5.6% in 2008, the figure fell to 3.3% at end-2018, its lowest since the 2008 global financial crisis.

Despite the fall, compared to other WAEMU States, Togolese exports have actually risen slightly over the period reviewed.

It should also be noted that from 2008 to 2013, Togo’s share in the Union’s exports grew. However, they started dipping with the 2014 commodity prices crisis. Last year, the same trend was sustained but imports were less affected by the fall in prices of commodities.

The fall of exports was reflected on trade balance which degraded at end-2018, after improving the year before. Trade deficit kept widening in Q1 2019 as imports were more important than exports.

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