Insurance and financial services (% of commercial service imports) in Togo
Togo: Insurance and financial services (% of commercial service imports) was 12.2% 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 commercial service imports.
Analysis
The most recent figure for insurance and financial services in Togo is 12.2%, measured in 2020.
That represents a change of up 11.1% on the previous year and up 10.9% over ten years.
Over the whole period, insurance and financial services in Togo peaked at 15.8% in 1998 and was at its lowest, 4.3%, in 1985.
That places Togo 36th out of 197 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently rising across the 47 years of available data.
Insurance and financial services (% of commercial service imports) in Togo, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1974 | 9.6% | — |
| 1975 | 8.4% | -12.7% |
| 1976 | 7.9% | -6.1% |
| 1977 | 7.8% | -1.0% |
| 1978 | 8.4% | +7.5% |
| 1979 | 8.6% | +2.9% |
| 1980 | 7.2% | -16.6% |
| 1981 | 6.6% | -8.6% |
| 1982 | 8.4% | +27.8% |
| 1983 | 6.1% | -27.4% |
| 1984 | 7.7% | +25.4% |
| 1985 | 4.3% | -44.3% |
| 1986 | 8.5% | +99.9% |
| 1987 | 7.9% | -7.2% |
| 1988 | 7.3% | -7.9% |
| 1989 | 5.2% | -29.3% |
| 1990 | 9.1% | +77.1% |
| 1991 | 7.7% | -15.9% |
| 1992 | 11.5% | +49.4% |
| 1993 | 14.2% | +23.4% |
| 1994 | 7.5% | -47.2% |
| 1995 | 4.4% | -40.9% |
| 1996 | 12.5% | +182.1% |
| 1997 | 9.1% | -26.8% |
| 1998 | 15.8% | +73.3% |
| 1999 | 13.9% | -12.1% |
| 2000 | 14.5% | +4.2% |
| 2001 | 15.3% | +5.4% |
| 2002 | 13.3% | -12.8% |
| 2003 | 11.7% | -11.9% |
| 2004 | 11.4% | -3.0% |
| 2005 | 13.3% | +17.0% |
| 2006 | 12.9% | -3.1% |
| 2007 | 11.3% | -12.3% |
| 2008 | 10.2% | -9.9% |
| 2009 | 9.2% | -9.6% |
| 2010 | 11.0% | +18.9% |
| 2011 | 10.0% | -8.6% |
| 2012 | 9.8% | -2.0% |
| 2013 | 9.1% | -7.1% |
| 2014 | 10.5% | +15.1% |
| 2015 | 10.9% | +3.5% |
| 2016 | 10.7% | -1.3% |
| 2017 | 11.0% | +2.1% |
| 2018 | 11.1% | +1.0% |
| 2019 | 10.9% | -1.3% |
| 2020 | 12.2% | +11.1% |
Togo compared with similar countries
- Togo's 12.2% is above the median for lower middle income countries, which is 6.0%, 2.0× the median. (47 countries reporting)
- Togo's 12.2% is above the median for Sub-Saharan Africa, which is 4.9%, 2.5× the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service imports) 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 | +182.1% | 4.4% | 12.5% |
| 1986 | +99.9% | 4.3% | 8.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 8.5% | 7.8% | 9.6% | 6 |
| 1980s | 6.9% | 4.3% | 8.5% | 10 |
| 1990s | 10.6% | 4.4% | 15.8% | 10 |
| 2000s | 12.3% | 9.2% | 15.3% | 10 |
| 2010s | 10.5% | 9.1% | 11.1% | 10 |
| 2020s | 12.2% | 12.2% | 12.2% | 1 |
Countries ranked near Togo
- 33 Yemen 12.4% compare
- 34 East Timor 12.4% compare
- 35 Dominican Republic 12.3% compare
- 37 Egypt 12.0% compare
- 38 Chile 12.0% compare
- 39 Kyrgyzstan 11.7% compare
More private sector data for Togo
- Merchandise trade 43.7% (2025)
- Food imports 20.6% (2025)
- Manufactures imports 69.0% (2025)
- Merchandise imports 3.40 billion current US$ (2025)
- Commercial service imports 435.35 million current US$ (2020)
- Food exports 34.4% (2025)
- Manufactures exports 35.0% (2025)
- Merchandise exports 1.80 billion current US$ (2025)
- Commercial service exports 479.01 million current US$ (2020)
- Merchandise exports (current US$), per capita 209.51 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Togo?
- Insurance and financial services in Togo was 12.2% 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 4.3% in 1985.
- How does Togo rank for insurance and financial services?
- Togo ranks 36th 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 10.9%. 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 commercial service imports). 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
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service imports which are commercial services provided by non-residents to residents.