Economy of Benin
Population: 11.49 M (2018)
GDP per Capita: 902 USD (2018)
10,350 M.

GDP USD

(2018)

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3,660 M.

EXPORTS USD

(2018)

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4,580 M.

IMPORTS USD

(2018)

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54.44 %

PUBLIC DEBT

(2017)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.86 % (2018)
GDP of 2010 USD USD 10.30 B. (2018)
GDP Current USD USD 10.35 B. (2018)
GDP per Capita Current USD USD 902 (2018)
GDP per capita, PPP USD 2,152 (2018)
GDP per Capita, 2010 USD USD 897 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 12.64 % (2018)
Government Spending USD 1.31 B. (2018)
Government Debt % GDP 54.44 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 129.58 (2018)
Trade Openness 79.57 % (2018)
Exports of Goods and Services % GDP 35.38 % (2018)
Exports Goods & Services USD 3.66 B. (2018)
Exports Annual Growth 14.18 % (2018)
Imports as % GDP 44.19 % (2018)
Total Imports USD 4.58 B. (2018)
Foreign Direct Investment % GDP 2.00 % (2018)
Foreign Direct Investment USD 0.21 B. (2018)
Current Account Balance % GDP USD % (2018)
Current Account Balance USD B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD B. (2018)
Foreign Exchange Reserves incl Gold
Remittances % GDP 3.55 % (2018)
Remittances USD 186 M. (2017)
Balance of Payments USD 7 M. (2017)

Labor Market

Indicator Value
Labor Force 4.86 M. (2019)
Unemployment Rate 2.03 % (2019)
Unemployment Rate Females 2.34 % (2019)
Unemployment Rate Males 2.13 % (2019)
Youth Unemployment (ages 15-24) 3.98 % (2019)
Labor Force Participation Rate 71.30 % (2019)
Labor Force (Percent Female) 49.20 % (2019)
Female Labor Force Participation Rate 69.33 % (2019)
Male Labor Force Participation Rate 73.31 % (2019)
Dependent People 84.17 % (2018)

Agriculture Sector

Indicator Value
Forest Area 37.80 % (2016)
Forest Area km² 42,610 km² (2016)
Agricultural Land 33.26 % (2016)
Agricultural Land km² 37,500 km² (2016)
Employment 40.98 % (2019)
Value added % GDP 22.64 % (2018)
Agriculture Value added USD 2.34 B. (2018)
Crop Production Index 157.60 (2016)
Precipitation 1,039 mm (2014)
Arable Land 24 % (2016)
Cereal Yield 1,490 kg/hectare (2017)
Food production index 162 (2016)
Rural Population 53 % (2018)
Fertilizer use of Arable Land 15 kg/hectare (2016)
Livestock Production Index 136 (2016)
Economy of Benin

According to the World Bank and its latest published data, the economy of the Benin presents a growth rate of 6.86 % (2018) to the previous year.

With a population that reaches 11.49 M (2018) and a gross domestic product of USD 10.35 B. (2018), it translates a Gross Domestic Product per Capita of USD 902 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Benin also has a workforce of 4.86 M. (2019) with an unemployment rate of 2.03 % (2019), where women represent 2.34 % (2019) and men 2.13 % (2019), the unemployment rate for young people between 15-24 years old stood at 3.98 % (2019). The total number of dependent people stands at 84.17 % (2018).

The central government spent 12.64 % (2018) of its gross domestic product that year, which in absolute terms is USD 1.31 B. (2018). Its consolidated public debt reached 54.44 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Benin exported USD 3.66 B. (2018), which represents 35.38 % (2018) of its gross domestic product, in that same sense its imports reached USD 4.58 B. (2018) with a direct foreign investment of USD 0.21 B. (2018).

Benin has a forest area of 42,610 km² (2016), which represents 37.80 % (2016) of its total area, an average rainfall of 1,039 mm (2014) per year and a population of 53 % (2018) living in rural areas. With a total area of 37,500 km² (2016) available for agriculture and 40.98 % (2019) of its employments, the agricultural sector contributes to the economy of the Benin about USD 2.34 B. (2018) (22.64 % (2018) of its GDP).