The insurance and financial services exports in Togo started experiencing varying trends from 2013 to 2023. Initially, the exports saw a significant decline, particularly from 2015 when it hit its lowest value. From 2018 onwards, the sector saw a resurgence, peaking in 2020. However, there has been a notable decline from 2021, stabilizing at a value of 3.81 by 2023. The year-on-year variation highlights the sector's volatility, with notable increases and sharp declines, ultimately showing minimal growth by 2023. The Compound Annual Growth Rate (CAGR) over the past five years points to slight negative growth.
Looking to the future, the forecast from 2024 to 2028 predicts a stabilization around the current value, indicating no substantial growth or decline. Togo's insurance and financial services sector is expected to maintain its current level, suggesting future trends to watch will be:
• Emerging opportunities in digital finance and insurance.
• Regulatory changes that could impact the market.
• Potential impacts of broader economic conditions on service exports.
