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Benin

Headline economic indicators for Benin, with the most recent official readings.

Prices

Prices — Benin
Indicator Value Change
Inflation rate · 1.1% -0.06 (-5.1%)
Consumer price index · 123.6 +1.35 (+1.1%)
GDP deflator inflation · 1.6% -0.02 (-1.3%)

GDP

GDP — Benin
Indicator Value Change
GDP growth rate · 8.1% +0.62 (+8.3%)
GDP per capita · 1,658.27 +172.89 (+11.6%)
GDP per capita, long-run history · 2,477 +81.92 (+3.4%)
GDP · 24,566,420,903.53 +3,083,777,197 (+14.4%)
GDP, PPP · 71,359,402,708 +7,130,381,280 (+11.1%)
GDP per capita, PPP · 4,817 +375.87 (+8.5%)
GDP per capita growth · 5.5% +0.67 (+13.8%)
GNI per capita · 1,600 +170.00 (+11.9%)
Agriculture to GDP · 22.9% -1.31 (-5.4%)
Industry to GDP · 17.5% +0.12 (+0.7%)
Manufacturing to GDP · 10.2% -0.02 (-0.2%)
Services to GDP · 50.1% +1.18 (+2.4%)
Household consumption to GDP · 58.3% -0.57 (-1.0%)
Gross capital formation to GDP · 35.8% +0.76 (+2.2%)
Gross savings to GDP · 30.3% +1.68 (+5.9%)

Labour

Labour — Benin
Indicator Value Change
Unemployment rate · 1.6% -0.05 (-2.9%)
Labour force participation rate · 76.4% +0.09 (+0.1%)
Female labour force participation rate · 75.2% +0.18 (+0.2%)
Youth unemployment rate · 2.9% -0.20 (-6.5%)
Employment to population ratio · 75.1% +0.12 (+0.2%)
Employment in agriculture · 40.2% -0.81 (-2.0%)
Employment in industry · 18.3% +0.03 (+0.2%)
Employment in services · 41.4% +0.78 (+1.9%)

Money

Money — Benin
Indicator Value Change
Real interest rate · 4.6% +1.00 (+28.1%)
Broad money to GDP · 29.6% +1.46 (+5.2%)
Private sector credit to GDP · 19.8% +0.80 (+4.2%)
Lending rate · 6.3% -0.29 (-4.4%)
Bank deposit rate · 5.3% +0.21 (+4.0%)
Official exchange rate · 581.93 -24.42 (-4.0%)

Trade

Trade — Benin
Indicator Value Change
Current account to GDP · -8.2% -2.49 (-43.8%)
Exports to GDP · 17.1% -1.79 (-9.5%)
Imports to GDP · 20.1% -1.74 (-8.0%)
Trade to GDP · 37.1% -3.52 (-8.7%)
Exports of goods and services · 4,189,174,580.03 +141,810,796 (+3.5%)
Imports of goods and services · 4,929,128,052.08 +245,987,918 (+5.3%)
Trade balance, goods and services (annual) · -1,678,118,172.23 -653,645,599 (-63.8%)
Current account balance (annual) · -1,608,543,370.68 -617,538,748 (-62.3%)
Foreign direct investment to GDP · 2.0% +0.12 (+6.3%)
Remittances received to GDP · 1.7% +0.28 (+19.7%)
External debt to GNI · 66.6% +2.14 (+3.3%)

Government

Government — Benin
Indicator Value Change
Government revenue to GDP · 12.9% -1.18 (-8.3%)
Tax revenue to GDP · 10.8% -1.47 (-12.0%)
Government consumption to GDP · 8.9% -0.14 (-1.6%)
Education spending to GDP · 3.2% +0.13 (+4.3%)
Health spending to GDP · 3.3% +0.36 (+11.9%)

Demography

Demography — Benin
Indicator Value Change
Population · 14,814,460 +351,736 (+2.4%)
Population, long-run history · 13,439 +358.27 (+2.7%)
Population growth · 2.4% -0.06 (-2.4%)
Life expectancy · 61.0 +0.19 (+0.3%)
Fertility rate · 4.48 -0.08 (-1.7%)
Birth rate · 33.4 -0.46 (-1.4%)
Death rate · 8.7 -0.09 (-1.0%)
Urban population share · 53.4% +0.82 (+1.6%)
Population aged 65 and over · 3.2% +0.03 (+1.1%)
Under-five mortality rate · 74.7 -2.50 (-3.2%)
Population density · 128.3 +3.12 (+2.5%)
Net migration · -7,847 -122.00 (-1.6%)
Gini index · 34.4 -3.50 (-9.2%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Benin; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.