Economy Of Benin - Benin Information

Translation Services » Country Guides A - N » Benin

Choose the first letter to select required country:

Economy Of Benin
Benin Information - Country Guides

Economy overview	The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output has averaged a stable 5% in the past six years, but rapid population rise has offset much of this increase. Inflation has subsided over the past several years. In order to raise growth still further, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. The 2001 privatization policy should continue in telecommunications, water, electricity, and agriculture in spite of initial government reluctance. The Paris Club and bilateral creditors have eased the external debt situation, while pressing for speeded-up structural reforms.
GDP	purchasing power parity - $7.742 billion (2004 est.)
GDP - real growth rate	5.5% (2004 est.)
GDP - per capita	purchasing power parity - $1,100 (2004 est.)
GDP - composition by sector	agriculture: 36.4% industry: 14.5% services: 49.1% (2004 est.)
Investment gross fixed	19.3% of GDP (2004 est.)
Population below poverty line	37% (2001 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	1.5% (2004 est.)
Labor force	NA (1996)
Labor force by occupation
Unemployment rate	NA
Budget	revenues: $698.9 million expenditures: $613.2 million, including capital expenditures of na (2004 est.)
Public debt
Agriculture products	cotton, corn, cassava (tapioca), yams, beans, palm oil, peanuts, livestock (2001)
Industries	textiles, food processing, chemical production, construction materials (2001)
Industrial production growth rate	8.3% (2001 est.)
Electricity production	274.3 million kWh (2001)
Electricity production by source	fossil fuel: 14.2% hydro: 85.8% other: 0% (2001) nuclear: 0%
Electricity consumption	631.1 million kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	376 million kWh (2001)
Oil production	700 bbl/day (2001 est.)
Oil consumption	11,500 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	4.105 million bbl (1 January 2002)
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves	608.8 million cu m (1 January 2002)
Current account balance	$-112 million (2004 est.)
Exports	$485 million f.o.b. (2004 est.)
Exports commodities	cotton, crude oil, palm products, cocoa
Exports partners	China 21.1%, India 18%, Thailand 6.8%, Ghana 5.8%, Niger 4.4%, Indonesia 4.1% (2003)
Imports	$726 million f.o.b. (2003 est.)
Imports commodities	foodstuffs, capital goods, petroleum products
Imports partners	China 29.5%, France 14.9%, UK 4.7%, Cote d'Ivoire 4.7%, Thailand 4.6% (2003)
Reserves of foreign exchange gold	$636 million (2004 est.)
Debt external	$1.6 billion (2000)
Economic aid recipient	$342.6 million (2000)
Currency	Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Currency code	XOF
Exchange rates	Communaute Financiere Africaine francs (XOF) per US dollar - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999)
Fiscal year	calendar year

Beninese Flag Map Of Benin Songhay language

Economy Of BeninBenin Information - Country Guides

Economy Of Benin
Benin Information - Country Guides