Togo: Financial openness
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Togo |
Financial openness index |
---|---|
Latest value | -1.242 |
Year | 2021 |
Measure | index points |
Data availability | 1970 - 2021 |
Average | -1.127 |
Min - Max | -1.678 - -0.166 |
Source | Chinn-Ito Index |
The latest value from 2021 is -1.242 index points, unchanged from -1.242 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Togo from 1970 to 2021 is -1.127 index points. The minimum value, -1.678 index points, was reached in 1971 while the maximum of -0.166 index points was recorded in 1974.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
Related indicators | Latest | Reference | Measure |
---|---|---|---|
Terms of trade | 101.89 | 2021 | percent |
Trade openness | 61.43 | 2023 | percent |
Financial openness | -1.242 | 2021 | index points |
Exports, percent of GDP | 23.91 | 2023 | percent |
Exports, billion dollars | 2.19 | 2023 | billion U.S. dollars |
Growth of exports | 6.80 | 2023 | percent |
Imports, percent of GDP | 37.52 | 2023 | percent |
Imports, billion dollars | 3.44 | 2023 | billion U.S. dollars |
Foreign Direct Investment, percent of GDP | 0.37 | 2023 | percent |
Foreign Direct Investment, billion dollars | -0.23 | 2022 | billion U.S. dollars |
Portfolio investment inflows, equities | -173.93 | 2020 | million dollars (current) |
Current account, percent of GDP | -1.30 | 2022 | percent |
Current account, in dollars | -0.02 | 2020 | billion U.S. dollars |
Trade balance, percent of GDP | -13.62 | 2023 | percent |
Trade balance, in dollars | -0.67 | 2020 | billion U.S. dollars |
Remittances, percent of GDP | 6.10 | 2023 | percent |
Remittances | 559.76 | 2023 | million U.S. dollars |
Net errors and omissions | 3.69 | 2020 | million USD |
External debt | 37.31 | 2022 | percent |
Short-term external debt | 5.45 | 2022 | percent |
Foreign exchange reserves | 200.50 | 11/2022 | billion |