Countries
Benin
Key Economic Indicators
$64.14 billion
$4,435
7.45%
1.16%
1.59%
$21.483 billion (2024 est.)
49.7% of GDP (2016 est.)
$-1,608,543,371
Economic Overview
robust economic growth; slightly declining but still widespread poverty; strong trade relations with Nigeria; cotton exporter; COVID-19 has led to capital outflows and border closures; WAEMU member with currency pegged to the euro; recent fiscal deficit and debt reductions
All Economic Data
Agricultural products
cassava, yams, maize, oil palm fruit, cotton, soybeans, rice, pineapples, tomatoes, chillies/peppers (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$2.101 billion (2019 est.)
Revenues:
$2.024 billion (2019 est.)
Currency
code:
XOF
name:
West African CFA franc (XOF) [Fr]
Current account balance
$-1,608,543,371
Current account balance 2021:
-$734.659 million (2021 est.)
Current account balance 2022:
-$991.005 million (2022 est.)
Current account balance 2023:
-$1.609 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$14.16 billion
Debt - external 2023:
$6.309 billion (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2020:
574.295 (2020 est.)
Exchange rates 2021:
554.608 (2021 est.)
Exchange rates 2022:
622.912 (2022 est.)
Exchange rates 2023:
606.655 (2023 est.)
Exchange rates 2024:
606.345 (2024 est.)
Exports
$4.05 billion
Exports 2021:
$4.154 billion (2021 est.)
Exports 2022:
$4.271 billion (2022 est.)
Exports 2023:
$4.511 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
gold, cotton, coconuts/brazil nuts/cashews, soybeans, wood (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
UAE 42%, Bangladesh 20%, India 11%, China 5%, Togo 3% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$543.01 million
GDP - composition, by end use
Exports of goods and services:
18.8% (2024 est.)
Government consumption:
9% (2024 est.)
Household consumption:
58.9% (2024 est.)
Imports of goods and services:
-21.8% (2024 est.)
Investment in fixed capital:
34.7% (2024 est.)
Investment in inventories:
0.4% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
24.2% (2024 est.)
Industry:
17.4% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
48.9% (2024 est.)
GDP (official exchange rate)
$21.483 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$1,485
Gini Index coefficient - distribution of family income
47.8 (2015)
Gini Index coefficient - distribution of family income 2021:
34.4 (2021 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$21.26 billion
GNI per capita
$1,430
Gross domestic investment
35 % of GDP
Household income or consumption by percentage share
Highest 10%:
27.2% (2021 est.)
Lowest 10%:
3.1% (2021 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$4.68 billion
Imports 2021:
$4.925 billion (2021 est.)
Imports 2022:
$5.296 billion (2022 est.)
Imports 2023:
$6.189 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
rice, refined petroleum, palm oil, poultry, cars (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 21%, India 15%, USA 6%, France 6%, Nigeria 4% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
9.7% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
textiles, food processing, construction materials, cement
Inflation rate (consumer prices)
1.16%
Inflation rate (consumer prices) 2022:
1.4% (2022 est.)
Inflation rate (consumer prices) 2023:
2.7% (2023 est.)
Inflation rate (consumer prices) 2024:
1.2% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
6.397 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
6.64 million persons
Labor force - by occupation
agriculture:
40.24%
industry:
18.32%
services:
41.44%
Population below poverty line
38.5% (2018 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
49.7% of GDP (2016 est.)
Real GDP (purchasing power parity)
$64.14 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$49.374 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$52.51 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$56.424 billion (2024 est.)
Real GDP growth rate
7.45%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
6.3% (2022 est.)
Real GDP growth rate 2023:
6.4% (2023 est.)
Real GDP growth rate 2024:
7.5% (2024 est.)
Real GDP per capita
$4,435
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$3,600 (2022 est.)
Real GDP per capita 2023:
$3,700 (2023 est.)
Real GDP per capita 2024:
$3,900 (2024 est.)
Remittances
$235.64 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
1.3% of GDP (2021 est.)
Remittances 2022:
1.4% of GDP (2022 est.)
Remittances 2023:
1.7% of GDP (2023 est.)
Unemployment rate
1.59%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
1.7% (2022 est.)
Unemployment rate 2023:
1.7% (2023 est.)
Unemployment rate 2024:
1.8% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
2.9% (2024 est.)
Male:
3.6% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
3.3% (2024 est.)
World Bank Indicators
Currency
Brunei dollar (BND) $ (2025)
Exports (US$)
$11.39B (2024)
FDI Net Inflows (US$)
$29.06M (2024)
GDP Growth (%)
4.05 (2024)
Gdp Nominal
$15.34B (2024)
GDP Per Capita
33,153 (2024)
Imports (US$)
$8.95B (2024)
Inflation Rate (%)
-0.39 (2024)
Languages
Malay (2025)
Reserves
$4.41B (2024)
Unemployment Rate (%)
5.18 (2024)
Youth Unemployment
17.87 (2024)
Economic Rankings
Gini Index
#23
GDP Growth Rate
#38
External Debt
#60
GDP (PPP)
#118
GDP (Nominal)
#122
Imports
#142
Exports
#143
GDP per Capita
#160
Unemployment Rate
#167
Inflation Rate
#188
Quick Facts
Industries
textiles, food processing, construction materials, cement
Agricultural products
cassava, yams, maize, oil palm fruit, cotton, soybeans, rice, pineapples, tomatoes, chillies/peppers (2023)
Labor force
6.397 million (2024 est.)
Exports - partners
UAE 42%, Bangladesh 20%, India 11%, China 5%, Togo 3% (2023)
Imports - partners
China 21%, India 15%, USA 6%, France 6%, Nigeria 4% (2023)
Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar -
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