In 2020, Benin exported a total of $1.24B, making it the number 149 exporter in the world. During the last five reported years the exports of Benin have changed by $145M from $1.1B in 2015 to $1.24B in 2020.
In 2020 Benin imported $4.22B, making it the number 139 trade destination in the world. During the last five reported years the imports of Benin changed by -$2.82B from $7.04B in 2015 to $4.22B in 2020.
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).
The top export opportunities for Benin according to the relatedness index, are Cocoa Beans (0.11), Bran (0.1), Dried Legumes (0.098), Crude Petroleum (0.098), and Molasses (0.097). 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 a country currently specializes in.
This network shows the products most related to the production structure of Benin. These are products that tend to be co-exported with the products that Benin exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is 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 greenhouse emissions.
During the last 1 years Benin's economy has become relatively more complex, moving from the 92nd to the 87th 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.