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Indicators of economy in Benin

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,232 USD per capita. GDP in Benin, on the other hand, reached USD 1,319 per capita, or 17.14 billion USD for the whole country. Benin is one of the smaller economies and is currently ranked 125. If this is calculated per inhabitant, taking purchasing power parity into account, then Benin ranks 158th in the list of the richest countries.

Inflation in Benin in 2021 was around 1.73%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

The index for perceived corruption in the public sector is 43, which is below average by global standards.


Back to overview: Benin

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Benin in 2020 increased from 14.39 billion US dollars to 15.65 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 8.8 percent increase has been rather unusual this year. While most countries have suffered significant losses, Benin has certainly held its own. The unemployment rate rose from 1.5 to 1.7 percent. The consumer inflation rate has risen from -0.7 percent previously to 3.0 percent now.

Income and purchasing power

The average monthly income in Benin is 113 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 62.5 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Benin than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 94.9 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Benin
Total
Benin
per capita
EU
Total
EU
per capita
GDP17.14 bn USD1,319.15 USD17.177 tn USD33,384.92 USD
Gross national product17.60 bn USD1,354.42 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Benin ranked 124th in 2022 with 14.6 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2020

 Benin
Total
Benin
per capita
EU
Total
EU
per capita
Imports3.94 bn USD303.30 USD8.916 tn USD17,329.02 USD
Exports3.51 bn USD269.77 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1974 - 2020

Exports
Imports



Benin: AirportsThe Cadjehoun Airport (COO) in BeninCadjehoun Airport - the only public airport in Benin
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
Language: ChineseChinese - Worldwide distributionInternational distribution of mother tongue Chinese including regional allocations. Mainly in in China.