1UpTravel


 

You are here > 1Up Travel > Countries of the World > Africa > Benin



ADVERTISEMENT

Country

 Country Facts

  Introduction

  Geography

  People

  Government

  Economy

  Communications

  Transportation

  Military

  Maps & Cities

  Transnational issues


Related

  Benin Guide
  Benin Maps
  Benin Hotels
  Benin Flag
  More Benin Flags
  Benin Geography
  Benin Travel Warning



Travel & Tourism . Tourist Guide to the Country

Benin Economy




Benin    Economy Top of Page
Economy - overview: The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output averaged a sound 5% in 1996-99, but a rapid population rise offset much of this growth. Inflation has subsided over the past several years. Commercial and transport activities, which make up a large part of GDP, are vulnerable to developments in Nigeria, particularly fuel shortages. The Paris Club and bilateral creditors have eased the external debt situation in recent years. While high fuel prices constrained growth in 2000, increased cotton production - enabled by a major restructuring program - and an expansion of the Cotonou port, may lead to increased growth in 2001.
GDP: purchasing power parity - $6.6 billion (2000 est.)
GDP - real growth rate: 5% (2000 est.)
GDP - per capita: purchasing power parity - $1,030 (2000 est.)
GDP - composition by sector: agriculture:  37.9%

industry:  13.5%

services:  48.6% (1999)
Population below poverty line: 37.2% (1999 est.)
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 3% (2000 est.)
Labor force: NA
Unemployment rate: NA%
Budget: revenues:  $299 million

expenditures:  $445 million, including capital expenditures of $14 million (1995 est.)
Industries: textiles, cigarettes; beverages, food; construction materials, petroleum
Industrial production growth rate: 6.9% (2000 est.)
Electricity - production: 226 million kWh (1999)
Electricity - production by source: fossil fuel:  24.78%

hydro:  75.22%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 510.2 million kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 300 million kWh (1999)
Agriculture - products: corn, sorghum, cassava (tapioca), yams, beans, rice, cotton, palm oil, peanuts; poultry, livestock
Exports: $396 million (f.o.b., 1999)
Exports - commodities: cotton, crude oil, palm products, cocoa
Exports - partners: Brazil 14%, Libya 5%, Indonesia 4%, Italy 4% (1999)
Imports: $566 million (c.i.f., 1999)
Imports - commodities: foodstuffs, tobacco, petroleum products, capital goods
Imports - partners: France 38%, China 16%, UK 9%, Cote d'Ivoire 5% (1999)
Debt - external: $1.6 billion (1998 est.)
Economic aid - recipient: $274.6 million (1997)
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 - 699.21 (January 2001), 711.98 (2000), 615.70 (1999), 589.95 (1998), 583.67 (1997), 511.55 (1996); note - from 1 January 1999, the XOF is pegged to the euro at a rate of 655.957 XOF per euro
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


CHANNELS

Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks

DESTINATIONS

Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions

PHOTO SPECIAL

Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders

UTILITIES

World Time ISD Codes Travel Links Link Exchange

 



Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy