• Togo’s GDP grew 17.7% in Q4 2024
• Agriculture, construction, services drove sharp year-end rebound
• Electricity, hospitality, and public sector saw major declines 

The Togolese economy accelerated sharply at the end of 2024, with the national statistics institute (INSEED) reporting that gross domestic product (GDP) surged by 17.7% in the fourth quarter compared to the same period in 2023. This performance contrasted with the slowdown earlier in the year and helped the country achieve an overall annual growth rate of 6.5%, up from 6.2% in 2023.

The country's economic journey in 2024 was marked by a challenging first quarter, which saw a 5.8% contraction reflecting persistent sectoral strains and cyclical fragility. The trend then reversed throughout the year, with growth of 9.3% in the second quarter and 3.8% in the third, before the spectacular rebound in the final quarter.

The strong finish was driven by three key sectors: agriculture, construction, and services.

The primary sector expanded by 10.8%, boosted by strong agricultural harvests. This was supported by planned agricultural zones, subsidized fertilizer distribution, and mechanization efforts.

The secondary sector grew by 18.2%. Construction, in particular, saw spectacular growth, fueled by major public and private projects and activity at the Adétikopé Industrial Platform. Extractive industries also rebounded with an annual increase of more than 25%.

The tertiary sector remained the economic backbone, growing by 19.4% in the final quarter. Commerce benefited from the year-end holidays and intensified import-export flows. Digital and communication services continued their expansion, up 11.4% for the year, while business services showed a growth of 18.5%.

Despite the overall performance, some sectors experienced significant setbacks. The production and distribution of electricity and gas collapsed by 42% in 2024. Accommodation and food services also declined by 8.6%, and the public administration's contribution decreased by 8.9%.

Togolese authorities attributed the results to reforms implemented under the 2020-2025 Government Roadmap. These initiatives aim to diversify the productive base, strengthen logistics, and modernize infrastructure. Key measures include support for agribusiness SMEs, the digitalization of services, and the modernization of the Port of Lomé, a strategic hub for the sub-region.

Fiacre E. Kakpo