Togo Dominates UEMOA Transport Sector in 2024
Togo emerged as the leading contributor to transport service revenue within the West African Economic and Monetary Union (UEMOA) in 2024, capturing 29.5% of the total. This significant share, representing nearly a third of the regional revenue, was highlighted in the latest foreign trade report from the Central Bank of West African States (BCEAO).
Key Financials and Regional Context
According to the BCEAO data, Togo's transport service exports reached 185.1 billion XOF (approximately $301.7 million) in 2024. This figure reflects a substantial growth of nearly 77% over five years, up from 104.4 billion XOF in 2020. However, the growth rate between 2023 and 2024 saw only a marginal increase of 0.7 billion XOF, indicating a leveling off.
In the regional ranking, Côte d'Ivoire followed Togo closely, accounting for 26.7% of the sector's revenue. The overall UEMOA transport sector experienced a decline in 2024, with total revenue falling from 670.3 billion XOF in 2023 to 627.1 billion XOF (approximately $1.02 billion). This downturn was attributed to weaker demand, and the sector's share of total UEMOA service exports decreased from 21.6% in 2023 to 19.4% in 2024.
The Pivotal Role of the Port of Lomé
Togo's strong performance in the transport sector is largely credited to the strategic importance of the Autonomous Port of Lomé. This port serves as a crucial maritime import hub for the sub-region and is the only deep-water port capable of accommodating large vessels. Its central location enables it to facilitate trade for several landlocked countries, including Niger, Burkina Faso, and Mali.
The revenue generated by Togo's transport services is primarily driven by
- land and sea transport activities
- port logistics
- international transit operations
- modernization of infrastructure
- digitalization of port procedures
- development of logistics zones, such as the Adétikopé Industrial Platform (PIA)
UEMOA Transport Sector Overview
Transport services within UEMOA encompass a range of activities, including road, maritime, and air transport. Despite its significant contribution, the transport sector ranks second among UEMOA's service exports, trailing behind tourism, which accounts for 36.1% of the total. The sector's overall contraction in 2024 highlights the challenges faced by the regional economy, even as Togo maintains its leading position through strategic investments and geographical advantages.
5 Comments
Matzomaster
Modernization and digitalization are key to success. Togo is setting a great example.
Karamba
Togo's success is a beacon for the region, but the fact that transport services are still second to tourism in UEMOA service exports indicates there's significant untapped potential and challenges in the sector as a whole.
Manolo Noriega
One country doing well doesn't fix the whole UEMOA downturn. More problems than solutions here.
Fuerza
Weak demand is a huge concern. This isn't sustainable for the entire region.
Ongania
It's great to see Togo investing in infrastructure and digitalization, but the article also highlights a general 'weaker demand' across UEMOA. Addressing that regional demand issue is paramount for sustained growth.