Natural Resources and Trade

Togo is a relatively small strip of land and as a result does not have a surplus of natural resources like many of its fellow African countries but that does not stop it from contributing in the global economy and global trade. According to the Economic Complexity Index, Togo is the 137th largest export economy and the 95th most complex. Togo still maintains a trade deficit despite its resources.

 "Small Speculators Bet Big on Gold as Price Remains Range-Bound." Energy and Gold Ltd. 2016. Accessed June 08, 2016. http://energyandgold.com/2016/04/27/small-speculators-bet-big-on-gold-as-price-remains-in-trading-range/. 

Togo’s top export is gold which accounted for 540 million dollars of Togo’s exports in 2014 which is the most recent data provided by the ECI. Gold accounted for 27 percent of Togo’s exports in 2014 but they also export refined petroleum, calcium phosphates and cement.1

The value of the gold in Togo has increased and decreased consistently with the global market which has remained relatively steady over time. There have been peaks and valleys but gold has traditionally been viewed as a desirable commodity by many cultures for many years. Gold was used a symbol of power and prestige in the ancient world. It was often used as jewelry and shrines for gods. Eventually, gold began to be used as currency and now is often used as a standard when comparing currencies of varying countries to one another.2

The value of refined petroleum has increased significantly over time. With the increase in products that use petroleum, it has become a very desirable and needed resource.3 Because of this increase in need, Togo has benefited from the increase in export of refined petroleum.

Trade through West Africa would typically be done through major hubs such as Timbuktu and Gao. This trade would be done through caravan and then would disperse through the rest of the African tribes and nations.4 These caravans typically used camels as their main mode of transportation and sometimes had up to 10,000 camels at a time.5

 "Trade in Ancient West Africa." -History for Kids-mrdowling.com. Accessed June 08, 2016. http://www.mrdowling.com/609-trade.html. 

Sources:
1. "Togo." OEC. Accessed June 08, 2016. http://atlas.media.mit.edu/en/profile/country/tgo.
2.  "Gold in Antiquity." Ancient History Encyclopedia. Accessed June 08, 2016. http://www.ancient.eu/gold/.
3.  "U.S. Refiner Petroleum Product Prices." U.S. Refiner Petroleum Product Prices. Accessed June 08, 2016. https://www.eia.gov/dnav/pet/pet_pri_refoth_dcu_nus_m.htm. 
4. "Trade in Ancient West Africa." -History for Kids-mrdowling.com. Accessed June 08, 2016. http://www.mrdowling.com/609-trade.html.
5.  "Ancient Africa." For Kids: Trade Routes. Accessed June 08, 2016. http://www.ducksters.com/history/africa/trade_routes_of_ancient_africa.php.