Insurance and financial services in Togo
Togo: Insurance and financial services was 6.4% in 2020. ◆ Volatile
Insurance and financial services in Togo, 1980–2020
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
The most recent figure for insurance and financial services in Togo is 6.4%, measured in 2020.
Compared with earlier readings it is up 36.3% on the previous year and up 57.1% over ten years.
Over the whole period, insurance and financial services in Togo peaked at 10.5% in 1990 and was at its lowest, 0.4%, in 1988.
That places Togo 53rd out of 190 countries with data for 2020, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Togo, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1980 | 1.4% | — |
| 1981 | 0.7% | -49.3% |
| 1982 | 0.6% | -19.4% |
| 1983 | 0.5% | -18.6% |
| 1984 | 0.4% | -7.8% |
| 1985 | 4.4% | +923.3% |
| 1986 | 0.4% | -90.0% |
| 1987 | 0.4% | -0.5% |
| 1988 | 0.4% | -14.7% |
| 1989 | 4.7% | +1167.2% |
| 1990 | 10.5% | +123.5% |
| 1991 | 4.1% | -61.5% |
| 1992 | 0.4% | -89.9% |
| 1993 | 0.4% | +1.9% |
| 1994 | 0.5% | +21.8% |
| 1995 | 1.3% | +158.2% |
| 1996 | 2.4% | +84.5% |
| 1997 | 3.1% | +26.8% |
| 1998 | 3.2% | +5.1% |
| 1999 | 4.6% | +44.0% |
| 2000 | 6.5% | +40.5% |
| 2001 | 2.1% | -68.0% |
| 2002 | 5.2% | +146.7% |
| 2003 | 0.9% | -82.7% |
| 2004 | 1.2% | +34.3% |
| 2005 | 0.8% | -32.8% |
| 2006 | 3.3% | +311.3% |
| 2007 | 4.0% | +21.4% |
| 2008 | 4.4% | +8.1% |
| 2009 | 4.6% | +5.5% |
| 2010 | 4.1% | -11.6% |
| 2011 | 3.4% | -16.8% |
| 2012 | 4.1% | +22.7% |
| 2013 | 2.6% | -36.4% |
| 2014 | 2.2% | -15.2% |
| 2015 | 0.8% | -62.4% |
| 2016 | 2.0% | +134.7% |
| 2017 | 2.4% | +19.6% |
| 2018 | 3.6% | +53.8% |
| 2019 | 4.7% | +29.1% |
| 2020 | 6.4% | +36.3% |
Togo compared with similar countries
- Togo's 6.4% is above the median for lower middle income countries, which is 1.6%, 3.9× the median. (46 countries reporting)
- Togo's 6.4% is above the median for Sub-Saharan Africa, which is 3.1%, 2.1× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Togo changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1989 | +1167.2% | 0.4% | 4.7% |
| 1985 | +923.3% | 0.4% | 4.4% |
| 2006 | +311.3% | 0.8% | 3.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 1.4% | 0.4% | 4.7% | 10 |
| 1990s | 3.1% | 0.4% | 10.5% | 10 |
| 2000s | 3.3% | 0.8% | 6.5% | 10 |
| 2010s | 3.0% | 0.8% | 4.7% | 10 |
| 2020s | 6.4% | 6.4% | 6.4% | 1 |
Countries ranked near Togo
More economy & growth data for Togo
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.25 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -73.35 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0069 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -8.73 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 83.75 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 5.04 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0079 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 9.96 BoP, current US$ per person (2024)
- General government final consumption expenditure (current US$) 19.6 % change on previous year (2023)
Frequently asked questions
- What is insurance and financial services in Togo?
- Insurance and financial services in Togo was 6.4% in 2020, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Togo?
- The highest recorded value was 10.5% in 1990.
- What is the lowest insurance and financial services recorded in Togo?
- The lowest recorded value was 0.4% in 1988.
- How does Togo rank for insurance and financial services?
- Togo ranks 53rd out of 190 countries with data for 2020.
- Is insurance and financial services rising or falling in Togo?
- Over the last ten years it is up 57.1%. The long-run trend across the full record is volatile.
- Where does this Togo data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service exports, BoP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.