Benin: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Cotton has been one of Benin's biggest drivers toward economic growth, contributing to 40% of GDP and 80% of exports. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): India, China, and Bangladesh |
| Top Industries Source: CIA World Factbook | Textiles; Food Processing; Construction Materials; Cement |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $54,160,663,044 (2022) |
| GDP Growth Rate (annual %) | 6.253% (2022) |
| GDP Per Capita, PPP (current international) | $4,056 (2022) |
GDP Country Rank 115/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 1.351% (2022) |
| External debt stocks, total (DOD, current US$) | $6,863,789,220 (2021) |
| Total tax rate (% of commercial profits) | 48.9% (2019) |
| Real Interest Rate (5 year average %) | 4.558% (2021) |
| Manufacturing, value added (% of GDP) | 9.823% (2022) |
| Current Account Balance (BoP, current US$) | ($734,659,107) (2021) |
Labor and Employment [1]
| Labor Force, Total | 4,811,208 (2022) |
| Employment in Agriculture (% of total employment) | 28.15% (2021) |
| Employment in Industry (% of total employment) | 22.509% (2021) |
| Employment in Services (% of total employment) | 49.342% (2021) |
| Unemployment Rate | 1.654% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $5,095,285,355 (2022) |
| Exports of goods and services (current US$) | $3,768,036,594 (2022) |
| Total Merchandise Trade (% of GDP) | 49.34% (2022) |
| FDI, net inflows (BoP, current US$) | $266,603,189 (2022) |
| Commercial Service Exports (current US$) | $473,176,902 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Benin’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.