Business & Markets · Credit to private sector · Togo
Togo’s credit to private sector fell to 23% of GDP in 2025.
23% of GDP
2025
Down 2.4 pp from 2024.
Updated 8 Oct 2026
In plain words
23% of GDP
What it is. This measure adds up the loans, trade credits and other financial claims that banks and other financial institutions hold on households and private firms, then divides the total by the size of the economy. It shows how much of national output is matched by borrowing from the domestic financial system. Credit to government is excluded, as are informal loans between neighbours or within savings groups and lending from abroad that bypasses local institutions.
Neither way is good in itself. A higher ratio can mean the financial system is funding more homes and businesses, but it can also mean households and firms carry more debt. A lower ratio can mean cautious borrowing or tighter lending. For that reason the direction alone settles little. The latest figure, for 2025, is 23% of GDP, down from 25.4% of GDP a year earlier, a fall of 2.4 percentage points. It is the lowest reading since 2016, when the ratio stood at 30.4% of GDP, the highest in that span.
Why it matters. Private credit at 23% of GDP means bank lending to households and firms makes up a smaller part of Togo's economy than it did in 2016. Businesses that want to expand and families that want to buy or build have less borrowed money behind them relative to national output. The next annual reading will show whether the ratio keeps falling from 23% of GDP or starts to recover.
| Period | Credit to private sector · Togo |
|---|---|
| 2016 | 30.4% of GDP |
| 2017 | 29.6% of GDP |
| 2018 | 27.8% of GDP |
| 2019 | 27.6% of GDP |
| 2020 | 26.9% of GDP |
| 2021 | 26.2% of GDP |
| 2022 | 26.6% of GDP |
| 2023 | 26.3% of GDP |
| 2024 | 25.4% of GDP |
| 2025 | 23% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Credit to private sector, Togo, 2025; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/business/private-sector-credit/togo
Data insights · Worked out from the published figures
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Methodology
Domestic credit to the private sector as a share of GDP. Unit: % of GDP.
Source: World Bank, World Development Indicators (series FS.AST.PRVT.GD.ZS), retrieved through the World Bank API and published under CC BY 4.0. Updated annually; the World Bank's own source notes apply.