Economic and Political Overview

Benin: Economic and Political Overview

In this page: Economic Indicators | Foreign Trade in Figures | Sources of General Economic Information | Political Outline | COVID-19 Country Response

Economic Indicators

For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19.

Benin’s strong macroeconomic fundamentals have helped the country achieve strong economic growth despite the recent external shocks of the Covid-19 pandemic and the war in Ukraine. After reaching 7.2% in 2021, GDP growth remained resilient in 2022, slowing down to 5.7% (IMF). Economic growth is expected to accelerate to 6.2% in 2023 and 6% in 2024, driven by agroindustry, construction, and port-related activity (IMF). Higher infrastructure spending and a wider regional recovery will support activity (The Economist Intelligence Unit).

In 2022, despite a challenging global and regional context, Benin’s economy remained resilient, supported by
a strong investment push. Investments in the electricity grid and freight transport have driven growth (Coface). In July 2022, a blended 42-month Extended Fund Facility and Extended Credit Facility was approved by the IMF to help Benin address financing needs, support the country’s National Development Plan centered on achieving the Sustainable Development Goals (SDGs), and catalyze donor support (IMF). Reflecting the spillovers of the war in Ukraine, inflation increased from 1.7% in 2021 to 5% in 2022, but remained subdued owing to a strong harvest season and subsidy measures adopted by the government (IMF). Households have benefited from subsidies on agricultural inputs and fuels, as well as from tariff reductions (Coface). According to IMF forecast, inflation is expected to decrease to 1.8% in 2023 and 2% in 2024. Budget deficit decreased only slightly, from -5.7% GDP in 2021 to -5.5% GDP in 2022, as policy remained accommodative to cushion the impact of the repeated shocks (IMF). Consolidation efforts are scheduled to resume in 2023, with a forecast budget balance of -4.3% GDP (IMF). Public debt increased from 49.9% GDP in 2021 to 54.8% GDP in 2022, and it is expected to slowly decrease to 55.6% GDP in 2023 and 54.3% GDP in 2024 (IMF). Public debt is divided equally between multilateral loans, external obligations and domestic obligations and it should stabilise thanks to continued fiscal consolidation and growth (Coface). Around 20% higher than the previous one, the 2023 Budget resumed the consolidation of public finances while allocating substantial resources to critical social and security-related spending. The priorities remain the promotion of high-potential sectors such as agriculture, tourism and digital economy; the development of key transport, energy and sanitation infrastructure; the reduction of poverty and social vulnerability; and fiscal consolidation.

Despite many efforts to reduce it, the poverty rate remains as high as 38.5% according to World Bank data. In 2021, the unemployment rate in the country was estimated at 1.8% (ILO estimate). However, underemployment rate stood at more than 70%, and informal employment rate at more than 90% (World Bank).

Main Indicators	2020	2021	2022 (E)	2023 (E)	2024 (E)
GDP (billions USD)	15.67	17.70	17.41	19.24	20.64
GDP (Constant Prices, Annual % Change)	3.8	7.2	6.0	6.0	5.9
GDP per Capita (USD)	1,238	1,357	1,297	1,391	1,449
General Government Gross Debt (in % of GDP)	46.1	50.3	52.4	52.8	51.6
Inflation Rate (%)	3.0	1.7	1.5	3.0	2.0
Current Account (billions USD)	-0.27	-0.74	-1.00	-1.12	-1.04
Current Account (in % of GDP)	-1.7	-4.2	-5.7	-5.8	-5.0

Source: IMF – World Economic Outlook Database , Latest available data

Note: (e) Estimated Data

Main Sectors of Industry

Benin’s economy is heavily reliant on agriculture. This sector accounts for 29.4% of Benin’s GDP and employs an estimated 38% of the workforce (World Bank, latest data available). The country has a fertile land, and a third of Benin’s territory is suitable for agriculture (World Bank). Around half of the population rely on subsistence farming for their livelihood, whereas cotton is the main crop and the key export commodity. The cotton sector contributes to 40% of the GDP. Other cultivations include cashew nuts, corn, cassava, yams, beans, palm oil, and peanuts. The export of raw cashew nuts will be banned in 2024 to promote local processing (Coface).

The industrial sector contributes 17% of GDP and gives employment to roughly 18% of the active population. Textiles, food processing, construction materials, and cement are the main sub-sectors.

Services (dominated by trade and transport) account for 47.3% of Benin’s GDP and almost 43% of total employment.

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	38.3	18.3	43.4
Value Added (in % of GDP)	29.4	17.0	47.3
Value Added (Annual % Change)	5.2	9.1	6.6

Source: World Bank - Latest available data.

Find more information about your business sector on our service Market Reports.

Monetary Indicators	2016	2017	2018	2019	2020
CFA Franc BCEAO (XOF) - Average Annual Exchange Rate For 1 MUR	16.68	16.88	16.37	16.51	14.63

Source: World Bank - Latest available data.

Find out all the exchange rates daily on our service Currency Converter.

Indicator of Economic Freedom

Definition

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.

Score:: 59,6/100
World Rank:: 100
Regional Rank:: 10

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

Country Risk

See the country risk analysis provided by Coface.

Foreign Trade in Figures

Benin is open to foreign trade which represents 63% of its GDP (World Bank). The country is a member of various trade organizations including the World Trade Organisation and the West African Economic and Monetary Union (WAEMU). The vast majority of its trade passes through the port of Cotonou, the capacity of which the government wants to develop.

Benin mainly exports cotton (61% of total exports), cashew nut, coconut, Brazilian nuts, shea nuts, petroleum products, cement, gold, textile products, and seafood to Bangladesh, India, China, Vietnam, Chad, Niger and Egypt. Its main imports are food products (rice, meat, frozen fish), oil products, drugs, vehicles and capital goods from India, China, France, Belgium, Togo, the United Arab Emirates and Turkey. It is also quite active in re-exportation, from Nigeria mainly.

For years now, Benin has had a structural trade deficit. In 2021, the trade deficit in goods amounted to USD 888 million (WTO). This is mainly due to low exports which are largely made up of low-cost agricultural products, and the country’s heavy reliance on foreign countries for its oil and energy supply. According to WTO data, in 2021, Benin exported goods with a total value of USD 3.4 billion while it imported goods worth USD 4.3 billion. Concerning services, Benin exported USD 555 million worth of services in 2021 and imported USD 984 million worth of services (WTO). In 2022, net imports deteriorated due to the post-pandemic reduction in shortages, food and energy inflation, and the depreciation of the CFA franc against the dollar (Coface).

Foreign Trade Indicators	2017	2018	2019	2020	2021
Imports of Goods (million USD)	3,494	4,375	3,932	3,263	4,333
Exports of Goods (million USD)	2,216	3,344	3,052	2,316	3,445
Imports of Services (million USD)	577	762	803	578	984
Exports of Services (million USD)	323	485	510	410	555
Imports of Goods and Services (Annual % Change)	14.3	4.8	3.4	-19.8	44.4
Exports of Goods and Services (Annual % Change)	7.0	5.0	8.6	-25.0	53.5
Imports of Goods and Services (in % of GDP)	34.3	34.5	34.1	25.0	34.3
Exports of Goods and Services (in % of GDP)	27.2	27.3	29.6	19.9	28.5
Trade Balance (million USD)	-344	-556	-444	-156	n/a
Trade Balance (Including Service) (million USD)	-704	-821	-722	-436	n/a
Foreign Trade (in % of GDP)	61.5	61.8	63.7	44.8	62.7

Source: WTO – World Trade Organisation ; World Bank , Latest Available Data

Main Partner Countries

Main Customers (% of Exports)	2021
Bangladesh	41.7%
India	10.0%
China	9.8%
Vietnam	5.0%
Chad	3.6%
Niger	2.9%
Egypt	2.7%
Denmark	2.3%
Ukraine	2.2%
United Arab Emirates	2.1%
Pakistan	2.0%
Türkiye	1.6%
Burkina Faso	1.5%
Malaysia	1.5%
Togo	1.5%
Ivory Coast	1.1%
Indonesia	1.0%
Nigeria	0.8%
United Kingdom	0.8%
Belgium	0.8%
See More Countries	29.9%

Main Suppliers (% of Imports)	2021
India	17.2%
China	11.7%
France	11.0%
Belgium	5.6%
Togo	4.2%
United Arab Emirates	4.0%
Türkiye	3.4%
Thailand	3.2%
United States	2.7%
Morocco	2.4%
Russia	2.1%
Nigeria	2.1%
United Kingdom	2.1%
Switzerland	1.8%
Indonesia	1.6%
Brazil	1.5%
Netherlands	1.5%
Italy	1.5%
Singapore	1.4%
Malaysia	1.3%
See More Countries	50.4%

Source: Comtrade, Latest Available Data

Main Products

1.0 bn USD of products exported in 2021
Cotton, neither carded nor combedCotton, neither carded nor combed	61.0%
Coconuts, brazil nuts and cashew nuts, fresh or...Coconuts, brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled	4.8%
Other oil seeds and oleaginous fruits, whether or...Other oil seeds and oleaginous fruits, whether or not broken (excl. edible nuts, olives, soya beans, groundnuts, copra, linseed, rape or colza seeds and sunflower seeds)	4.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	3.6%
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of vegetable fats or oils (excl. from soya-bean oil and groundnut oil)	3.1%
Bars and rods, of iron or non-alloy steel, not...Bars and rods, of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but incl. those twisted after rolling (excl. in irregularly wound coils)	1.8%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form	1.5%
Wood sawn or chipped lengthwise, sliced or peeled,...Wood sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, of a thickness of > 6 mm	1.4%
Sunflower-seed, safflower or cotton-seed oil and...Sunflower-seed, safflower or cotton-seed oil and fractions thereof, whether or not refined, but not chemically modified	1.2%
Woven fabrics of cotton, containing >= 85% cotton...Woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m²	1.1%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured	1.0%
Bars and rods of iron or non-alloy steel,...Bars and rods of iron or non-alloy steel, hot-rolled, in irregularly wound coils	1.0%
Soya beans, whether or not brokenSoya beans, whether or not broken	0.9%
Bars and rods of alloy steel other than stainless,...Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils	0.7%
Wood, incl. strips and friezes for parquet...Wood, incl. strips and friezes for parquet flooring, not assembled, continuously shaped "tongued, grooved, rebated, chamfered, v-jointed beaded, moulded, rounded or the like" along any of its edges, ends or faces, whether or not planed, sanded or end-jointed	0.7%
Tubes, pipes and hollow profiles "e.g., open seam...Tubes, pipes and hollow profiles "e.g., open seam or welded, riveted or similarly closed", of iron or steel (excl. of cast iron, seamless tubes and pipes and tubes having internal and external circular cross-sections and an external diameter of > 406,4 mm)	0.7%
Fixed vegetable fats and oils, incl. jojoba oil,...Fixed vegetable fats and oils, incl. jojoba oil, and their fractions, whether or not refined, but not chemically modified (excl. soya-bean, groundnut, olive, palm, sunflower-seed, safflower, cotton-seed, coconut, palm kernel, babassu, rape, colza and mustard oil)	0.6%
Self-propelled bulldozers, angledozers, graders,...Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines and roadrollers	0.6%
Fuel wood, in logs, billets, twigs, faggots or...Fuel wood, in logs, billets, twigs, faggots or similar forms; wood in chips or particles; sawdust and wood waste and scrap, whether or not agglomerated in logs, briquettes, pellets or similar forms	0.6%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width of >= 600 mm, cold-rolled "cold-reduced", not clad, plated or coated	0.5%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated	0.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	0.4%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form	0.4%
Other nuts, fresh or dried, whether or not shelled...Other nuts, fresh or dried, whether or not shelled or peeled (excl. coconuts, brazil nuts and cashew nuts)	0.3%
Nails, tacks, drawing pins, corrugated nails,...Nails, tacks, drawing pins, corrugated nails, staples and similar articles of iron or steel, whether or not with heads of other material (excl. such articles with heads of copper and staples in strips)	0.3%
Fruit juices, incl. grape must, and vegetable...Fruit juices, incl. grape must, and vegetable juices, unfermented, not containing added spirit, whether or not containing added sugar or other sweetening matter	0.3%
Fruits, nuts and other edible parts of plants,...Fruits, nuts and other edible parts of plants, prepared or preserved, whether or not containing added sugar or other sweetening matter or spirit (excl. prepared or preserved with vinegar, preserved with sugar but not laid in syrup, and jams, fruit jellies, marmalades, fruit purée and pastes, obtained by cooking)	0.3%
Electric generating sets and rotary convertersElectric generating sets and rotary converters	0.3%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified)	0.3%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s.	0.3%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab	0.3%
Wood in the rough, whether or not stripped of bark...Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared (excl. rough-cut wood for walking sticks, umbrellas, tool shafts and the like; wood in the form of railway sleepers; wood cut into boards or beams, etc.)	0.2%
Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics	0.2%
Sacks and bags, of a kind used for the packing of...Sacks and bags, of a kind used for the packing of goods, of all types of textile materials	0.2%
Angles, shapes and sections of iron or non-alloy...Angles, shapes and sections of iron or non-alloy steel, n.e.s.	0.2%
Pasta, whether or not cooked or stuffed with meat...Pasta, whether or not cooked or stuffed with meat or other substances or otherwise prepared, such as spaghetti, macaroni, noodles, lasagne, gnocchi, ravioli, cannelloni; couscous, whether or not prepared	0.2%
Motorcycles, incl. mopeds, and cycles fitted with...Motorcycles, incl. mopeds, and cycles fitted with an auxiliary motor, with or without side-cars; side-cars	0.2%
Beer made from maltBeer made from malt	0.2%
Soap; organic surface-active products and...Soap; organic surface-active products and preparations for use as soap, in the form of bars, cakes, moulded pieces or shapes, whether or not containing soap; organic surface-active products and preparations for washing the skin, in the form of liquid or cream and put up for retail sale, whether or not containing soap; paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent	0.1%
Engines and motors (excl. steam turbines, internal...Engines and motors (excl. steam turbines, internal combustion piston engine, hydraulic turbines, water wheels, gas turbines and electric motors); parts thereof	0.1%
Worn clothing and clothing accessories, blankets...Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles for interior furnishing, of all types of textile materials, incl. all types of footwear and headgear, showing signs of appreciable wear and presented in bulk or in bales, sacks or similar packings (excl. carpets, other floor coverings and tapestries)	0.1%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled, not clad, plated or coated	0.1%
Wheat or meslin flourWheat or meslin flour	0.1%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)	0.1%
Wire of iron or non-alloy steel, in coils (excl....Wire of iron or non-alloy steel, in coils (excl. bars and rods)	0.1%
Tugs and pusher craftTugs and pusher craft	0.1%
Electrical transformers, static converters, e.g....Electrical transformers, static converters, e.g. rectifiers, and inductors; parts thereof	0.1%
Containers, incl. containers for the transport of...Containers, incl. containers for the transport of fluids, specially designed and equipped for carriage by one or more modes of transport	0.1%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with electric motors and generators, electric generating sets and rotary converters, n.e.s.	0.1%
See More Products	23.5%

3.2 bn USD of products imported in 2021
RiceRice	20.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	10.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	3.9%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304)	3.6%
Meat and edible offal of fowls of the species...Meat and edible offal of fowls of the species gallus domesticus, ducks, geese, turkeys and guinea fowls, fresh, chilled or frozen	3.4%
Motorcycles, incl. mopeds, and cycles fitted with...Motorcycles, incl. mopeds, and cycles fitted with an auxiliary motor, with or without side-cars; side-cars	2.9%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)	2.7%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified)	2.4%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured	1.7%
Petroleum coke, petroleum bitumen and other...Petroleum coke, petroleum bitumen and other residues of petroleum oil or of oil obtained from bituminous minerals, n.e.s.	1.5%
Wheat or meslin flourWheat or meslin flour	1.4%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab	1.4%
Mineral or chemical fertilisers containing two or...Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers (excl. pure animal or vegetable fertilisers or mineral or chemical nitrogenous, phosphatic or potassic fertilisers); animal, vegetable, mineral or chemical fertilisers in tablets or similar forms or in packages of a gross weight of <= 10 kg	1.3%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528)	1.2%
Bars and rods of iron or non-alloy steel,...Bars and rods of iron or non-alloy steel, hot-rolled, in irregularly wound coils	1.2%
Worn clothing and clothing accessories, blankets...Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles for interior furnishing, of all types of textile materials, incl. all types of footwear and headgear, showing signs of appreciable wear and presented in bulk or in bales, sacks or similar packings (excl. carpets, other floor coverings and tapestries)	1.1%
Self-propelled bulldozers, angledozers, graders,...Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines and roadrollers	1.0%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form	1.0%
Bars and rods of alloy steel other than stainless,...Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils	1.0%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated	0.8%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406)	0.8%
Woven fabrics of cotton, containing >= 85% cotton...Woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m²	0.8%
Pasta, whether or not cooked or stuffed with meat...Pasta, whether or not cooked or stuffed with meat or other substances or otherwise prepared, such as spaghetti, macaroni, noodles, lasagne, gnocchi, ravioli, cannelloni; couscous, whether or not prepared	0.7%
Parts and accessories for motorcycles and bicycles...Parts and accessories for motorcycles and bicycles and for carriages for disabled persons, n.e.s.	0.7%
Insecticides, rodenticides, fungicides, herbicides...Insecticides, rodenticides, fungicides, herbicides, anti-sprouting products and plant-growth regulators, disinfectants and similar products, put up for retail sale or as preparations or articles, e.g. sulphur-treated bands, wicks and candles, and fly-papers	0.7%
Unglazed ceramic flags and paving, hearth or wall...Unglazed ceramic flags and paving, hearth or wall tiles; unglazed ceramic mosaic cubes and the like, whether or not on a backing (excl. of siliceous fossil meals or similar siliceous earths, refractory ceramic goods, tiles specially adapted as table mats, ornamental articles and tiles specifically manufactured for stoves)	0.7%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal	0.7%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	0.6%
Wheat and meslinWheat and meslin	0.6%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products	0.6%
Bars and rods, of iron or non-alloy steel, not...Bars and rods, of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but incl. those twisted after rolling (excl. in irregularly wound coils)	0.6%
Tubes, pipes and hoses, and fittings therefor, e.g...Tubes, pipes and hoses, and fittings therefor, e.g. joints, elbows, flanges, of plastics	0.6%
Special purpose motor vehicles (other than those...Special purpose motor vehicles (other than those principally designed for the transport of persons or goods), e.g. breakdown lorries, crane lorries, fire fighting vehicles, concrete-mixer lorries, road sweeper lorries, spraying lorries, mobile workshops and mobile radiological units	0.5%
Tractors (other than tractors of heading 8709)Tractors (other than tractors of heading 8709)	0.5%
Malt extract; food preparations of flour, groats,...Malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or containing < 40% by weight of cocoa calculated on a totally defatted basis, n.e.s.; food preparations of milk, cream, butter milk, sour milk, sour cream, whey, yogurt, kephir, and similar goods of heading 0401 to 0404, not containing cocoa or containing < 5% by weight of cocoa calculated on a totally defatted basis, n.e.s.	0.5%
Tugs and pusher craftTugs and pusher craft	0.5%
Tomatoes, prepared or preserved otherwise than by...Tomatoes, prepared or preserved otherwise than by vinegar or acetic acid	0.5%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors	0.4%
Cartons, boxes, cases, bags and other packing...Cartons, boxes, cases, bags and other packing containers, of paper, paperboard, cellulose wadding or webs of cellulose fibres, n.e.s.; box files, letter trays, and similar articles, of paperboard of a kind used in offices, shops or the like	0.4%
Centrifuges, incl. centrifugal dryers (excl. those...Centrifuges, incl. centrifugal dryers (excl. those for isotope separation); filtering or purifying machinery and apparatus, for liquids or gases; parts thereof (excl. artificial kidneys)	0.4%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg)	0.4%
Diodes, transistors and similar semiconductor...Diodes, transistors and similar semiconductor devices; photosensitive semiconductor devices, incl. photovoltaic cells whether or not assembled in modules or made up into panels (excl. photovotaic generators); light emitting diodes; mounted piezoelectric crystals; parts thereof	0.4%
Diagnostic or laboratory reagents on a backing,...Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, and certified reference materials (excl. compound diagnostic reagents designed to be administered to the patient, blood-grouping reagents, animal blood prepared for therapeutic, prophylactic or diagnostic uses and vaccines, toxins, cultures of micro-organisms and similar products)	0.4%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width of >= 600 mm, cold-rolled "cold-reduced", not clad, plated or coated	0.4%
Tanks and other armoured fighting vehicles,...Tanks and other armoured fighting vehicles, motorised, whether or not fitted with weapons, and parts of such vehicles, n.e.s.	0.4%
Electrical transformers, static converters, e.g....Electrical transformers, static converters, e.g. rectifiers, and inductors; parts thereof	0.4%
Tubes and pipes, having circular cross-sections...Tubes and pipes, having circular cross-sections and an external diameter of > 406,4 mm, of flat-rolled products of iron or steel "e.g., welded, riveted or similarly closed"	0.4%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy)	0.3%
Machinery for sorting, screening, separating,...Machinery for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth, stone, ores or other mineral substances, in solid, incl. powder or paste, form; machinery for agglomerating, shaping or moulding solid mineral fuels, ceramic paste, unhardened cements, plastering materials or other mineral products in powder or paste form; machines for forming foundry moulds of sand; parts thereof	0.3%
Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics	0.3%
Gypsum; anhydrite; plasters consisting of calcined...Gypsum; anhydrite; plasters consisting of calcined gypsum or calcium sulphate, whether or not coloured, with or without small quantities of accelerators or retarders	0.3%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber	0.3%
Electrical apparatus for switching or protecting...Electrical apparatus for switching or protecting electrical circuits, or for making connections to or in electrical circuits, e.g., switches, fuses, lightning arresters, voltage limiters, surge suppressors, plugs and other connectors, junction boxes, for a voltage > 1.000 v (excl. control desks, cabinets, panels etc. of heading 8537)	0.3%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s.	0.3%
Light-vessels, fire-floats, dredgers, floating...Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability of which is subsidiary to their main function; floating docks, floating or submersible drilling or production platforms (excl. fishing vessels and warships)	0.3%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s.	0.3%
Soups and broths and preparations therefor; food...Soups and broths and preparations therefor; food preparations consisting of finely homogenised mixtures of two or more basic ingredients such as meat, fish, vegetables or fruit, put up for retail sale as infant food or for dietetic purposes, in containers of <= 250 g	0.3%
Trailers and semi-trailers; other vehicles, not...Trailers and semi-trailers; other vehicles, not mechanically propelled (excl. railway and tramway vehicles); parts thereof, n.e.s.	0.2%
Machines and mechanical appliances having...Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter; parts thereof	0.2%
Monitors and projectors, not incorporating...Monitors and projectors, not incorporating television reception apparatus; reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus	0.2%
Uncoated paper and paperboard, of a kind used for...Uncoated paper and paperboard, of a kind used for writing, printing or other graphic purposes, and non-perforated punchcards and punch-tape paper, in rolls or in square or rectangular sheets, of any size, and handmade paper and paperboard (excl. newsprint of heading 4801 and paper of heading 4803)	0.2%
Electric generating sets and rotary convertersElectric generating sets and rotary converters	0.2%
Beer made from maltBeer made from malt	0.2%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s.	0.2%
Ships' derricks; cranes, incl. cable cranes (excl....Ships' derricks; cranes, incl. cable cranes (excl. wheel-mounted cranes and vehicle cranes for railways); mobile lifting frames, straddle carriers and works trucks fitted with a crane	0.2%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture)	0.2%
Malt, whether or not roastedMalt, whether or not roasted	0.2%
Motor vehicles for the transport of >= 10 persons,...Motor vehicles for the transport of >= 10 persons, incl. driver	0.2%
Footwear with outer soles and uppers of rubber or...Footwear with outer soles and uppers of rubber or plastics (excl. waterproof footwear of heading 6401, orthopaedic footwear, skating boots with ice or roller skates attached, and toy footwear)	0.2%
Refrigerators, freezers and other refrigerating or...Refrigerators, freezers and other refrigerating or freezing equipment, electric or other; heat pumps; parts thereof (excl. air conditioning machines of heading 8415)	0.2%
Guts, bladders and stomachs of animals (other than...Guts, bladders and stomachs of animals (other than fish), whole and pieces thereof, fresh, chilled, frozen, salted, in brine, dried or smoked	0.2%
Sacks and bags, of a kind used for the packing of...Sacks and bags, of a kind used for the packing of goods, of all types of textile materials	0.2%
Electric accumulators, incl. separators therefor,...Electric accumulators, incl. separators therefor, whether or not square or rectangular; parts thereof (excl. spent and those of unhardened rubber or textiles)	0.2%
Air conditioning machines comprising a...Air conditioning machines comprising a motor-driven fan and elements for changing the temperature and humidity, incl. those machines in which the humidity cannot be separately regulated; parts thereof	0.2%
Pumps for liquids, whether or not fitted with a...Pumps for liquids, whether or not fitted with a measuring device (excl. ceramic pumps and secretion aspirating pumps for medical use and medical pumps carried on or implanted in the body); liquid elevators (excl. pumps); parts thereof	0.2%
Cereal groats, meal and pelletsCereal groats, meal and pellets	0.2%
Milk and cream, concentrated or containing added...Milk and cream, concentrated or containing added sugar or other sweetening matter	0.2%
Prefabricated buildings, whether or not complete...Prefabricated buildings, whether or not complete or already assembled	0.2%
Plates, sheets and strip, of aluminium, of a...Plates, sheets and strip, of aluminium, of a thickness of > 0,2 mm (excl. expanded plates, sheets and strip)	0.2%
Electrical apparatus for switching or protecting...Electrical apparatus for switching or protecting electrical circuits, or for making connections to or in electrical circuits, e.g., switches, relays, fuses, surge suppressors, plugs, sockets, lamp holders and junction boxes, for a voltage <= 1.000 v (excl. control desks, cabinets, panels etc. of heading 8537)	0.2%
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s.	0.2%
Bread, pastry, cakes, biscuits and other bakers'...Bread, pastry, cakes, biscuits and other bakers' wares, whether or not containing cocoa; communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products	0.2%
Undenatured ethyl alcohol of an alcoholic strength...Undenatured ethyl alcohol of an alcoholic strength of >= 80%; ethyl alcohol and other spirits, denatured, of any strength	0.2%
Angles, shapes and sections of iron or non-alloy...Angles, shapes and sections of iron or non-alloy steel, n.e.s.	0.2%
Waters, incl. mineral waters and aerated waters,...Waters, incl. mineral waters and aerated waters, containing added sugar or other sweetening matter or flavoured, and other non-alcoholic beverages (excl. fruit or vegetable juices and milk)	0.2%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, towers, lattice masts, pillars and columns, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades", of aluminium (excl. prefabricated buildings of heading 9406); plates, rods, profiles, tubes and the like, prepared for use in structures, of aluminium	0.1%
Preparations of a kind used in animal feedingPreparations of a kind used in animal feeding	0.1%
Prepared binders for foundry moulds or cores;...Prepared binders for foundry moulds or cores; chemical products and preparations for the chemical or allied industries, incl. mixtures of natural products, n.e.s.	0.1%
Bituminous mastics, cut-backs and other bituminous...Bituminous mastics, cut-backs and other bituminous mixtures based on natural asphalt, on natural bitumen, on petroleum bitumen, on mineral tar or on mineral tar pitch	0.1%
Polyacetals, other polyethers and epoxide resins,...Polyacetals, other polyethers and epoxide resins, in primary forms; polycarbonates, alkyd resins, polyallyl esters and other polyesters, in primary forms	0.1%
Woven fabrics containing >= 85% synthetic staple...Woven fabrics containing >= 85% synthetic staple fibres by weight	0.1%
Fork-lift trucks; other works trucks fitted with...Fork-lift trucks; other works trucks fitted with lifting or handling equipment (excl. straddle carriers and works trucks fitted with a crane)	0.1%
Soap; organic surface-active products and...Soap; organic surface-active products and preparations for use as soap, in the form of bars, cakes, moulded pieces or shapes, whether or not containing soap; organic surface-active products and preparations for washing the skin, in the form of liquid or cream and put up for retail sale, whether or not containing soap; paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent	0.1%
Mixtures of odoriferous substances and mixtures,...Mixtures of odoriferous substances and mixtures, incl. alcoholic solutions, based on one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for the manufacture of beverages	0.1%
Taps, cocks, valves and similar appliances for...Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, incl. pressure-reducing valves and thermostatically controlled valves; parts thereof	0.1%
Extracts, essences and concentrates, of coffee,...Extracts, essences and concentrates, of coffee, tea or maté and preparations with a basis of these products or with a basis of coffee, tea or mate; roasted chicory and other roasted coffee substitutes, and extracts, essences and concentrates thereof	0.1%
Salts, incl. table salt and denatured salt, and...Salts, incl. table salt and denatured salt, and pure sodium chloride, whether or not in aqueous solution or containing added anti-caking or free-flowing agents; sea water	0.1%
Food preparations, n.e.s.Food preparations, n.e.s.	0.1%
Tubes, pipes and hollow profiles "e.g., open seam...Tubes, pipes and hollow profiles "e.g., open seam or welded, riveted or similarly closed", of iron or steel (excl. of cast iron, seamless tubes and pipes and tubes having internal and external circular cross-sections and an external diameter of > 406,4 mm)	0.1%
Beauty or make-up preparations and preparations...Beauty or make-up preparations and preparations for the care of the skin, incl. sunscreen or suntan preparations (excl. medicaments); manicure or pedicure preparations	0.1%
Lamps and lighting fittings, incl. searchlights...Lamps and lighting fittings, incl. searchlights and spotlights, and parts thereof, n.e.s; illuminated signs, illuminated nameplates and the like having a permanently fixed light source, and parts thereof, n.e.s.	0.1%
Containers of iron or steel, for compressed or...Containers of iron or steel, for compressed or liquefied gas (excl. containers specifically constructed or equipped for one or more types of transport)	0.1%
Carboys, bottles, flasks, jars, pots, phials,...Carboys, bottles, flasks, jars, pots, phials, ampoules and other containers, of glass, of a kind used for the conveyance or packing of goods, preserving jars, stoppers, lids and other closures, of glass (excl. glass envelopes and containers, with vacuum insulation, perfume atomizers, flasks, bottles etc. for atomizers)	0.1%
Polymers of ethylene, in primary formsPolymers of ethylene, in primary forms	0.1%
Discs, tapes, solid-state non-volatile storage...Discs, tapes, solid-state non-volatile storage devices, "smart cards" and other media for the recording of sound or of other phenomena, whether or not recorded, incl. matrices and masters for the production of discs (excl. products of chapter 37)	0.1%
Bars, rods and profiles, of aluminium, n.e.s.Bars, rods and profiles, of aluminium, n.e.s.	0.1%
Registers, account books, notebooks, order books,...Registers, account books, notebooks, order books, receipt books, letter pads, memorandum pads, diaries and similar articles, exercise books, blotting pads, binders, folders, file covers, manifold business forms, interleaved carbon sets and other articles of stationery, of paper or paperboard; albums for samples or for collections and book covers, of paper and paperboard	0.1%
Ceramic sinks, washbasins, washbasin pedestals,...Ceramic sinks, washbasins, washbasin pedestals, baths, bidets, water closet pans, flushing cisterns, urinals and similar sanitary fixtures (excl. soap dishes, sponge holders, tooth-brush holders, towel hooks and toilet paper holders)	0.1%
Sausages and similar products, of meat, offal or...Sausages and similar products, of meat, offal or blood; food preparations based on these products	0.1%
Printing machinery used for printing by means of...Printing machinery used for printing by means of plates, cylinders and other printing components of heading 8442 (excl. hectograph or stencil duplicating machines, addressing machines and other office printing machines of heading 8469 to 8472); other printers, copying machines and facsimile machines, whether or not combined; parts thereof	0.1%
Moving, grading, levelling, scraping, excavating,...Moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for earth, minerals or ores; pile-drivers and pile-extractors; snowploughs and snowblowers (excl. those mounted on railway wagons, motor vehicle chassis or lorries, self-propelled machinery of heading 8429, lifting, handling, loading or unloading machinery of heading 8425 to 8428 and hand-operated tools)	0.1%
Heterocyclic compounds with nitrogen hetero-atom[s...Heterocyclic compounds with nitrogen hetero-atom[s] only	0.1%
Wire of iron or non-alloy steel, in coils (excl....Wire of iron or non-alloy steel, in coils (excl. bars and rods)	0.1%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled, not clad, plated or coated	0.1%
Bars and rods, of iron or non-alloy steel,...Bars and rods, of iron or non-alloy steel, cold-formed or cold-finished, whether or not further worked, or hot-formed and further worked, n.e.s.	0.1%
See More Products	58.5%

Source: Comtrade, Latest Available Data

To go further, check out our service Import Export Flows.

Sources of General Economic Information

Ministries: List of Benin's Ministries
Statistical Office: National Institute of Statistics and Demography (INSTAD)
Central Bank: West Africa Central Bank
Stock Exchange: Regional Securities Exchange
Search Engines: Google Benin
Economic Portals: Actu Benin
BBC - Benin profile

Political Outline

Current Political Leaders: President: Patrice TALON (since 6 April 2016) - the president is both chief of state and head of government
Next Election Dates: Presidential: April 2026
National Assembly: April 2023
Main Political Parties: Benin is formally a multy-party country, however opposition parties have no real chance of gaining power. The main parties are:

Alliance for a Triumphant Benin or ABT : leader Abdoulaye BIO TCHANE
African Movement for Development and Progress or MADEP : leader Sefou FAGBOHOUN
Benin Renaissance or RB : leader Lehady SOGLO
Cowrie Force for an Emerging Benin or FCBE : leader Yayi BONI
Democratic Renewal Party or PRD : leader Adrien HOUNGBEDJI
National Alliance for Development and Democracy or AND : leader Valentin Aditi HOUDE
New Consciousness Rally or NC : leader Pascal KOUPAKI
Patriotic Awakening or RP : leader Janvier YAHOUEDEOU
Social Democrat Party or PSD : leader Emmanuel GOLOU
Sun Alliance or AS : leader Sacca LAFIA
Union Makes the Nation or UN : leader Adrien HOUNGBEDJI (includes PRD, MADEP)
United Democratic Forces or FDU : leader Mathurin NAGO
Type of State: Democratic Republic.
Executive Power: The President of the Republic is elected for a five-year term by universal suffrage with uninominal majority ballot in two rounds, for maximum two terms (whether consecutive or not). He is the head of state, the holder of the executive power, the head of the Government, and with this title he shall determine and conduct the politics of the nation (art. 54). After an advisory opinion of the National Assembly, the President appoints the members of the Government.
Legislative Power: The legislative power in Benin is vested in the parliament, which is composed of a single chamber called the National Assembly. It is composed of 83 deputies elected every four years by proportional representation in 24 multi-member constituencies.

Indicator of Freedom of the Press

Definition

Definition:

The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).

World Rank:: 114/180

Indicator of Political Freedom

Definition

Definition:

The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.

Ranking:: Free
Political Freedom:: 4/7

Political freedom in the world (interactive map)
Source: Freedom in the World Report, Freedom House

COVID-19 Country Response

COVID-19 epidemic evolution: To find out about the latest status of the COVID19 pandemic evolution and the most up-to-date statistics on the COVID19 disease in Benin, please visit the Beninese government platform with the official data. The platform provides a daily epidemiological update, which includes key national figures.
For the international outlook you can consult the latest situation reports published by the World Health Organisation as well as the global daily statistics on the coronavirus pandemic evolution including data on confirmed cases and deaths by country.
Sanitary measures: To find out about the latest public health situation in Benin and the current sanitary measures in vigour, please consult the Beninese government platform including the up-to-date information on the containment measures put in place and public health recommendations.
Travel restrictions: The COVID-19 situation, including the spread of new variants, evolves rapidly and differs from country to country. All travelers need to pay close attention to the conditions at their destination before traveling. Regularly updated information for all countries with regards to Covid-19 related travel restrictions in place including entry regulations, flight bans, test requirements and quarantine is available on TravelDoc Infopage.
It is also highly recommended to consult COVID-19 Travel Regulations Map provided and updated on the daily basis by IATA.
The US government website of Centers of Disease Control and Prevention provides COVID-19 Travel Recommendations by Destination.
The UK Foreign travel advice also provides travelling abroad advice for all countries, including the latest information on coronavirus, safety and security, entry requirements and travel warnings.
Import & export restrictions: So far, no restrictions have been imposed on imports or exports in the Republic of Benin. For information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual import and export restrictions, if applicable), please consult the Beninese government platform.
For a general overview of trade restrictions due to COVID-19 pandemic, please consult the section dedicated to Benin on the International Trade Centre's COVID-19 Temporary Trade Measures webpage.c
Economic recovery plan: So far, no information on the economic recovery plan to deal with the consequences of the COVID19 pandemic on the Beninese economy has been published on the official websites of the Beninese government.
For a general overview of the main economic policy measures (fiscal, monetary and macroeconomic) taken by the Beninese government to limit the socio-economic impact of the COVID-19 pandemic, please consult the section dedicated to Benin in the IMF’s Policy Tracker platform.
Support plan for businesses: The country's official sources do not provide information on specific business support programmes following the coronavirus epidemic outbreak.
For a general overview of international SME support policies in response to the COVID-19 epidemic, please refer to the World Bank's Map of SME-Support Measures in Response to COVID-19.
Support plan for exporters: The country's government official sources do not provide information with regards to specific schemes for exporting companies following the coronavirus epidemic outbreak.

Any Comment About This Content? Report It to Us.