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Togo is a member of the Organization for the Harmonization of Business Law in Africa (OHADA). Cocoa, coffee, and cotton generate about 40% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and seeks to develop its carbonate phosphate reserves. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors.
Subsistence agriculture is the main economic activity in Togo; the majority of the population depends on subsistence agriculture. Food and cash crop production employs the majority of the labor force and contributes about 42% to the gross domestic product (GDP). Coffee and cocoa are traditionally the major cash crops for export. In the industrial sector, phosphates are Togo's most important commodity, and the country has an estimated 60 million metric tons of phosphate reserves.
Togo’s main export partners include Burkina Faso, China, France, Germany, Niger and Ghana.
The economy of Togo depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share of the labor force. Some basic foodstuffs must still be imported.
Togo serves as a regional commercial and trade center. The government's decade-long effort, supported by the World Bank and the International Monetary Fund (IMF), to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures, has stalled. Political unrest, including private and public sector strikes throughout 1992 and 1993, jeopardized the reform program, shrank the tax base, and disrupted vital economic activity.
Togo’s main import partners are France, China, Burkina Faso, Niger, Ghana and Japan.