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Benin

République du Benin

Last updated: 2026-03-28 (today)

Budget

revenues

$2.024 billion (2019 est.)

expenditures

$2.101 billion (2019 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$4.154 billion (2021 est.)

Exports 2022

$4.271 billion (2022 est.)

Exports 2023

$4.511 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$4.925 billion (2021 est.)

Imports 2022

$5.296 billion (2022 est.)

Imports 2023

$6.189 billion (2023 est.)

Industries

textiles, food processing, construction materials, cement

Labor force

6.397 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

49.7% of GDP (2016 est.)

Remittances

note

note: 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.)

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.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$6.309 billion (2023 est.)

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

Unemployment rate

note

note: % 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.)

Exports - partners

UAE 42%, Bangladesh 20%, India 11%, China 5%, Togo 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 21%, India 15%, USA 6%, France 6%, Nigeria 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

Real GDP growth rate

note

note: 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.)

Agricultural products

cassava, yams, maize, oil palm fruit, cotton, soybeans, rice, pineapples, tomatoes, chillies/peppers (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

gold, cotton, coconuts/brazil nuts/cashews, soybeans, wood (2023)

note: top five export commodities based on value in dollars

Imports - commodities

rice, refined petroleum, palm oil, poultry, cars (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

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.)

GDP (official exchange rate)

$21.483 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

58.9% (2024 est.)

government consumption

9% (2024 est.)

investment in inventories

0.4% (2024 est.)

investment in fixed capital

34.7% (2024 est.)

exports of goods and services

18.8% (2024 est.)

imports of goods and services

-21.8% (2024 est.)

Population below poverty line

38.5% (2018 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

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.)

Industrial production growth rate

9.7% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

3.6% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

3.3% (2024 est.)

female

2.9% (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

17.4% (2024 est.)

services

48.9% (2024 est.)

agriculture

24.2% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

3.1% (2021 est.)

highest 10%

27.2% (2021 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2021

34.4 (2021 est.)