Analysis and Studies - Country Analysis
Benin: a look at the market
April 10th 2025
An Overview of Benin’s Economy
In 2023, Benin stood as the 123rd largest economy in the world based on GDP (current US$). While its overall economic size places it in the mid-range globally, its trade activity ranked 146th in exports and 142nd in imports. In terms of individual wealth, Benin ranked 168th in GDP per capita. Interestingly, despite being a developing economy, it holds the 83rd position in the Economic Complexity Index (ECI), highlighting its diverse trade and industrial capabilities.
Benin’s Key Exports
Benin’s economy is driven by several key exports, with gold leading the way at $766 million, followed by raw cotton ($490 million), cashews and other nuts ($142 million), soybeans ($113 million), and refined petroleum ($40.5 million). The country’s export market is heavily linked to a few major trading partners, with the United Arab Emirates ($803 million) being its largest destination, followed by Bangladesh, India, China, and Togo. These exports help sustain the country’s agricultural and mining sectors, which play a crucial role in its economy.
Major Imports and Trade Partners
On the import side, Benin relies heavily on products like rice ($725 million), refined petroleum ($397 million), palm oil ($306 million), cars ($196 million), and poultry meat ($196 million). China is by far the largest supplier of goods to Benin, accounting for $1.17 billion in imports, followed by India, the United States, France, and Nigeria. These imports reflect Benin’s growing demand for essential food products, fuel, and vehicles, which support both its domestic needs and regional trade.
Where is Benin Located?
Benin is a West African nation strategically positioned between Burkina Faso, Niger, Nigeria, and Togo. It also has a coastal border along the Atlantic Ocean, providing access to maritime trade routes and strengthening its role as a trade hub in the region. Its location makes it an important player in regional commerce, connecting landlocked neighbors to international markets.
Source: https://oec.world/
