Benin2021 Economic Complexity Trade : -0.61, Rank 89 of 131
false: false, Rank false of 96
2021 Economic Complexity Research : -0.33, Rank 84 of 140
2021 Product Exports | Imports: $2.18B | $4.92B, 144 of 226 | 142 of 226
2021 Per Capita Product Exports | Imports: $175 | $395, 188 of 219 | 188 of 219
Overview In 2021, Benin was the number 118 economy in the world in terms of GDP (current US$), the number 144 in total exports, the number 142 in total imports, the number 153 economy in terms of GDP per capita (current US$) and the number 89 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Benin are Gold ($849M), Raw Cotton ($625M), Coconuts, Brazil Nuts, and Cashews ($275M), Other Oily Seeds ($43.6M), and Refined Petroleum ($39.8M), exporting mostly to United Arab Emirates ($854M), Bangladesh ($427M), India ($341M), China ($128M), and Vietnam ($51.3M).
Imports The top imports of Benin are Rice ($690M), Cars ($343M), Palm Oil ($294M), Poultry Meat ($178M), and Light Pure Woven Cotton ($121M), importing mostly from China ($1.06B), India ($603M), United States ($317M), France ($287M), and Indonesia ($260M).
Location Benin borders Burkina Faso, Niger, Nigeria, and Togo by land and Ghana by sea.
The following section uses the most recent trade data from partners of Benin.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Gold, $849M
Top Destination (2021): United Arab Emirates, $854M
In 2021, Benin exported a total of $2.18B, making it the number 144 exporter in the world. During the last five reported years the exports of Benin have changed by $1.3B from $877M in 2016 to $2.18B in 2021.
The most recent exports are led by Gold ($849M), Raw Cotton ($625M), Coconuts, Brazil Nuts, and Cashews ($275M), Other Oily Seeds ($43.6M), and Refined Petroleum ($39.8M). The most common destination for the exports of Benin are United Arab Emirates ($854M), Bangladesh ($427M), India ($341M), China ($128M), and Vietnam ($51.3M).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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).
Benin has a high level of specialization in Raw Cotton (324), Coconuts, Brazil Nuts, and Cashews (267), Other Oily Seeds (71.6), Other Vegetable Residues (31.3), and Gold (18.9). Specialization is measured using RCA, an index that takes the ratio between Benin observed and expected exports in each product.
The highest complexity exports of Benin according to the product complexity index (PCI) are Bulldozers, graders, levellers, scrapers, angledozers, mechanical shovels, excavators, shovel loaders, tamping machines and road rollers, self-propelled (1.1), Iron or steel (excluding cast iron); tubes and pipes (e.g. welded, riveted or similarly closed), having circular cross-sections, external diameter of which exceeds 406.4mm, not seamless (0.72), Railway or tramway track fixtures and fittings; mechanical (including electro-mechanical) signalling, safety or traffic control equipment for railways, tramways, roads, inland waterways, parking facilities, port installations or airfields; parts thereof (0.7), Steel, alloy; bars and rods, hot-rolled, in irregularly wound coils (0.56), and Derricks, cranes, including cable cranes, mobile lifting frames, straddle carriers and works trucks fitted with a crane (0.56). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Benin according to the relatedness index, were Manganese Ore (0.089), Cocoa Beans (0.088), Crude Petroleum (0.088), Bran (0.087), and Dried Legumes (0.086). 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.
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 20 years Benin's economy has become relatively less complex, moving from the nullth to the 89th 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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