Flag Benin

2019
Economic
Complexity
: -0.54, Rank 104 of 157

2019
Product
Exports | Imports
: $1.62B | $5B, 144 of 225 |  137 of 225

2019
Per Capita Product
Exports | Imports
: $137 | $424, 188 of 219 |  179 of 219

2015
Service
Exports | Imports
: $258M | $607M, 142 of 170 | 139 of 170

Overview: In 2019 Benin was the number 124 economy in the world in terms of GDP (current US$), the number 144 in total exports, the number 137 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 104 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Benin are Raw Cotton ($463M), Refined Petroleum ($380M), Gold ($223M), Coconuts, Brazil Nuts, and Cashews ($153M), and Raw Copper ($49.4M), exporting mostly to Nigeria ($408M), Bangladesh ($229M), United Arab Emirates ($222M), India ($213M), and China ($132M).

Imports: The top imports of Benin are Rice ($761M), Cars ($315M), Palm Oil ($225M), Electricity ($197M), and Light Pure Woven Cotton ($178M), importing mostly from China ($1.41B), Thailand ($425M), India ($422M), Togo ($290M), and United States ($270M).

Location: Benin borders Burkina Faso, Niger, Nigeria, and Togo by land and Ghana by sea.

Yearly Exports

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Value
Depth

Top Export (2019): Raw Cotton, $463M

Top Destination (2019): Nigeria, $408M

In 2019, Benin exported a total of $1.62B, making it the number 144 exporter in the world. During the last five reported years the exports of Benin have changed by -$536M from $2.15B in 2014 to $1.62B in 2019.

The most recent exports are led by Raw Cotton ($463M), Refined Petroleum ($380M), Gold ($223M), Coconuts, Brazil Nuts, and Cashews ($153M), and Raw Copper ($49.4M). The most common destination for the exports of Benin are Nigeria ($408M), Bangladesh ($229M), United Arab Emirates ($222M), India ($213M), and China ($132M).

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Yearly Imports

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Value
Depth

Top Import (2019): Rice, $761M

Top Origin (2019): China, $1.41B

In 2019 Benin imported $5B, making it the number 137 trade destination in the world. During the last five reported years the imports of Benin changed by -$3.97B from $8.98B in 2014 to $5B in 2019.

The most recent imports of Benin are led by Rice ($761M), Cars ($315M), Palm Oil ($225M), Electricity ($197M), and Light Pure Woven Cotton ($178M). The most common import partners for Benin are China ($1.41B), Thailand ($425M), India ($422M), Togo ($290M), and United States ($270M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Benin Exports Services (2015): $258M

Benin Imports Services (2015): $607M

In 2015, Benin exported $258M worth of services. The top services exported by Benin in 2015 were Other transport ($128M), Business travel ($78.3M), Air transport ($14.9M), Financial services ($12.3M), and Insurance services ($11.5M).

The top services imported by Benin in 2015 were Sea transport ($279M), Air transport ($140M), Miscellaneous business, professional, and technical services ($92M), Computer and information services ($20.4M), and Insurance services ($19.6M).

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Benin's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨98th to the 104th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Benin has a high level of specialization in Raw Cotton (337), Coconuts, Brazil Nuts, and Cashews (190), Other Oily Seeds (94.1), Raw Copper (48.3), and Other Vegetable Residues (24.3). Specialization is measured using RCA, an index that takes the ratio between Benin observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Benin according to the product complexity index (PCI) are Copper nails, screws, bolts, pins, washers, etc (1.18), Signals etc for rail, tram, water-way, port, airfield (0.66), Paints and varnishes nes, water pigments for leather (0.41), Bar, rod, hot-rolled alloy steel, irregular coils nes (0.32), and Non-illuminated base metal sign plates, letter, number (0.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Benin according to the relatedness index, are Crude Petroleum (0.12), Tropical Fruits (0.1), Cocoa Beans (0.1), Manganese Ore (0.1), and Dried Legumes (0.099). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Benin is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.