Overview of Benin
Republic of Benin has a population of about 11.5 million people and it is the 39th largest country in
Africa in terms of land mass. It is the 23rd largest economy in Africa, and it is classified as a lowerincome country. It is located in the West African region, surrounded by countries like Togo, Burkina
Faso, Nigeria and Niger Republic.
The sales of Raw Cotton (28.6%), Petroleum (23.5%) and its derivatives accounts for over 50% of its export revenues of the revenue. Republic of Benin is among the Southern African Development Community (SADC) countries. The market opportunities and the demographics of the country has made this African market to become a place to explore by African exporters under AfCFTA.
Economic Snapshots
Benin has a coastline of 124km and a predominantly Christians (52.2%) nation, 24.6% practice the Islamic Faith and 17.9% practice Vodun (voodoo). French is the official language, Fon and Yoruba are other languages spoken in the country. It is a lowincome country with a per capita income of about $1,207 (2019 est.).
The GDP was about $15.65 billion in the year 2020. 26.88% was attributed to Agriculture, Services contributed 48.03% of the GDP while the level of urbanization is 47.86% as at 2019. The major products produced are Cotton, Corn, Cassava, Yam, Bean, Palm Oil, Peanuts, Cashew, livestock, Textiles, Food Processing, Construction material, Cement. Industries contributed 16.31% (2019 est). The inflation rate is 5% (2020 est.), the literacy rate is 42.4%, while 65.92% of the country’s population is between 1-24years of age.
The major agricultural products produced in Benin include Banana, Sugacane, Coffee, corn, cotton, Cassava, tobacco and Livestock while the industries in the country produce petroleum, cement, metal Products, brewing, Tobacco products, sugar, and textiles.