Flag Benin

Product Exports (2018): $1.27B, Rank 142 of 222

Exports Per Capita (2018): $110, Rank 33 of 219

Product Imports (2018): $5.8B, Rank 124 of 221

Imports Per Capita (2018): $505, Rank 21 of 219

Service Exports (2015): $258M, Rank 142 of 170

Service Imports (2015): $607M, Rank 139 of 170

GDP (2018): $10.4B, CURRENT US$
Rank 141 of 196

GDP growth (2008 - 2018): 45.2%, CURRENT US$
Rank 87 of 196

GDP PC (2018): $902, CURRENT US$
Rank 173 of 196

GDP PC GROWTH (2008 - 2018): 9.92%, CURRENT US$
Rank 123 of 196

Overview: In 2018 Benin was the number 141 economy in the world in terms of GDP (current US$), the number 142 in total exports, and the number 124 in total imports. In 2018, Benin exported $1.27B and imported $5.8B, resulting in a negative trade balance of -$4.54B. In 2018, Benin's exports per capita were $110 and its imports per capita were $505.

Trade: The top exports of Benin are Raw Cotton ($437M), Coconuts, Brazil Nuts, and Cashews ($214M), Gold ($150M), Scrap Copper ($43.6M), and Other Oily Seeds ($43M). The top imports of Benin are Rice ($1.03B), Palm Oil ($418M), Fake Hair ($363M), Cars ($273M), and Light Pure Woven Cotton ($181M).

Destinations: Benin exports mostly to India ($274M), Bangladesh ($216M), United Arab Emirates ($123M), Vietnam ($95.3M), and Nigeria ($89.2M), and imports mostly from China ($1.8B), Thailand ($676M), India ($422M), France ($272M), and United States ($263M).

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

Product Exports

#permalink to section
Depth
Value

Top Export (2018): Raw Cotton, $437M

Top Destination (2018): India, $274M

In 2018 Benin exported a total of $1.27B, making it the number 142 exporter in the world. During the last five reported years the exports of Benin have changed by $231M from $1.04B in 2013 to $1.27B in 2018.

The most recent exports are led by Raw Cotton ($437M), Coconuts, Brazil Nuts, and Cashews ($214M), Gold ($150M), Scrap Copper ($43.6M), and Other Oily Seeds ($43M). The most common destination for the exports of Benin are India ($274M), Bangladesh ($216M), United Arab Emirates ($123M), Vietnam ($95.3M), and Nigeria ($89.2M).

Explore Visualizations

Product Imports

#permalink to section
Depth
Value

Top Import (2018): Rice, $1.03B

Top Origin (2018): China, $1.8B

In 2018 Benin imported $5.8B, making it the number 124 trade destination in the world. During the last five reported years the imports of Benin changed by -$708M from $6.51B in 2013 to $5.8B in 2018.

The most recent imports of Benin are led by Rice ($1.03B), Palm Oil ($418M), Fake Hair ($363M), Cars ($273M), and Light Pure Woven Cotton ($181M). The most common import partners for Benin are China ($1.8B), Thailand ($676M), India ($422M), France ($272M), and United States ($263M).

Explore Visualizations

Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

#permalink to section

This section shows forecasts for total product exports and imports for Benin. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Economic Complexity

#permalink to section

Economic Complexity Ranking

#permalink to section
Scale

During the last 5 years Benin's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨121st to the 84th⁩ 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.

Explore Rankings

Most Specialized Products by RCA Index

#permalink to section

Benin has a high level of specialization in Raw Cotton (421), Coconuts, Brazil Nuts, and Cashews (328), Other Oily Seeds (122), Iron Ingots (39.3), and Seed Oils (38). 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

#permalink to section

The highest complexity exports of Benin according to the product complexity index (PCI) are Signals etc for rail, tram, water-way, port, airfield (0.65), Primary cells and primary batteries (0.56), Turbo-jets, turbo-propellers/other gas turbine engines (0.52), Bar and rod of iron or non-alloy steel nes (0.52), and Non-illuminated base metal sign plates, letter, number (0.48). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Benin according to the relatedness index, are Crude Petroleum (0.13), Cocoa Beans (0.12), Bran (0.12), Insect Resins (0.12), and Ground Nuts (0.12). 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

#permalink to section
Depth
Filter

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.