Insurance and financial services in Togo
Togo: Insurance and financial services was 12.1% in 2020. ▲ Rising
Insurance and financial services in Togo, 1974–2020
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Togo recorded 12.1% for insurance and financial services in 2020.
Compared with earlier readings it is up 10.9% on the previous year and up 12.7% over ten years.
Over the whole period, insurance and financial services in Togo peaked at 15.8% in 1998 and was at its lowest, 4.0%, in 1995.
Togo ranks 31st of 197 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services in Togo, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1974 | 8.6% | — |
| 1975 | 7.2% | -15.4% |
| 1976 | 7.2% | -0.1% |
| 1977 | 7.2% | -1.1% |
| 1978 | 7.8% | +9.1% |
| 1979 | 7.9% | +1.8% |
| 1980 | 6.6% | -16.7% |
| 1981 | 6.1% | -7.5% |
| 1982 | 7.9% | +29.0% |
| 1983 | 5.8% | -26.1% |
| 1984 | 7.3% | +25.2% |
| 1985 | 4.0% | -44.6% |
| 1986 | 8.0% | +98.6% |
| 1987 | 7.3% | -8.5% |
| 1988 | 6.7% | -9.2% |
| 1989 | 4.6% | -31.2% |
| 1990 | 8.1% | +76.9% |
| 1991 | 6.8% | -15.7% |
| 1992 | 10.2% | +49.9% |
| 1993 | 12.2% | +19.5% |
| 1994 | 6.5% | -46.7% |
| 1995 | 4.0% | -38.9% |
| 1996 | 12.2% | +206.2% |
| 1997 | 9.1% | -25.3% |
| 1998 | 15.8% | +73.3% |
| 1999 | 13.9% | -12.1% |
| 2000 | 14.4% | +3.4% |
| 2001 | 15.1% | +5.4% |
| 2002 | 13.2% | -12.6% |
| 2003 | 11.7% | -11.4% |
| 2004 | 11.3% | -3.7% |
| 2005 | 13.2% | +17.0% |
| 2006 | 12.8% | -3.4% |
| 2007 | 11.2% | -11.9% |
| 2008 | 10.2% | -9.7% |
| 2009 | 9.2% | -9.4% |
| 2010 | 10.7% | +16.5% |
| 2011 | 9.9% | -7.8% |
| 2012 | 9.7% | -1.8% |
| 2013 | 9.1% | -6.1% |
| 2014 | 10.5% | +15.3% |
| 2015 | 10.9% | +3.4% |
| 2016 | 10.7% | -1.1% |
| 2017 | 11.0% | +2.1% |
| 2018 | 11.0% | +0.7% |
| 2019 | 10.9% | -1.4% |
| 2020 | 12.1% | +10.9% |
Togo compared with similar countries
- Togo's 12.1% is above the median for lower middle income countries, which is 6.5%, 1.9× the median. (47 countries reporting)
- Togo's 12.1% is above the median for Sub-Saharan Africa, which is 6.5%, 1.9× 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 |
|---|---|---|---|
| 1996 | +206.2% | 4.0% | 12.2% |
| 1986 | +98.6% | 4.0% | 8.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.7% | 7.2% | 8.6% | 6 |
| 1980s | 6.4% | 4.0% | 8.0% | 10 |
| 1990s | 9.9% | 4.0% | 15.8% | 10 |
| 2000s | 12.2% | 9.2% | 15.1% | 10 |
| 2010s | 10.4% | 9.1% | 11.0% | 10 |
| 2020s | 12.1% | 12.1% | 12.1% | 1 |
Countries ranked near Togo
- 28 New Zealand 13.0% compare
- 29 Japan 12.7% compare
- 30 Yemen 12.4% compare
- 32 Dominican Republic 11.9% compare
- 33 Hong Kong, China 11.9% compare
- 34 Timor-Leste 11.9% compare
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 12.1% 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 15.8% in 1998.
- What is the lowest insurance and financial services recorded in Togo?
- The lowest recorded value was 4.0% in 1995.
- How does Togo rank for insurance and financial services?
- Togo ranks 31st out of 197 countries with data for 2020.
- Is insurance and financial services rising or falling in Togo?
- Over the last ten years it is up 12.7%. The long-run trend across the full record is rising.
- 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 imports, BoP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 imports which are services provided by non-residents to residents.