GFmag Online Readers Survey 2012
Benin


Benin Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Benin; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of West African States (BCEAO)
International ReservesUS$ 1.2 billion (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPUS$ 7.329 billion (2010 estimate)
GDP (Purchasing Power Parity)14.624 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
4.9%6.2%4.4%4%3%2.9%3.8%4.6%
2008200920102011*
5%2.7%2.5%3.4%

*Estimate

GDP per capita - current pricesUS$ 739 (2010 estimate)
GDP per capita - PPP$1,475 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.02%0.02%0.02%0.02%0.02%

**Forecast

GDP - composition by sector
  • agriculture: 35.5% 
  • industry: 6.1% 
  • services: 58.4% (2010 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
8%(2008)2.2%2.1%4.2%

*Estimate

Unemployment rate
2008200920102011*
N/AN/AN/A(2009)N/A

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
20.9%27.7%28.1%30.6%30%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
0.3%-0.1%-3.2%-2.6%-3.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B/Positive/B

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
N/AN/AN/A
Largest companies in BeninN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -0.4 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-5.3% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

13.8% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$1.125 billion f.o.b. (2010 estimate)
Export commoditiescotton, cashews, shea butter, textiles, palm products, seafood
Total importsUS$1.355 billion f.o.b. (2008 estimate)
Import commoditiesfoodstuffs, capital goods, petroleum products
Exports - major partnersChina 24.7%, India 8.2%, Niger 6.6%, Togo 5.4%, Nigeria 5.3%, Belgium 4.6% (2007)
Imports - major partnersChina 44.5%, France 8.2%, US 6.5%, Thailand 6.3%, Malaysia 4.8% (2007)
FDI inflows
200820092010
US$171 millionUS$135 million(2009)US$111 million(2009)
FDI outflows
200820092010
US$-4 millionUS$31 millionUS$7 million
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 170 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 157 out of 183 countries(2009)

Registering property: 129 out of 183 countries

Paying Taxes: 167 out of 183 countries

Getting credit: 152 out of 183 countries

Protecting investors: 154 out of 183 countries

Trading across border: 127 out of 183 countries

Enforcing Contracts: 177 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		104

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 117 Score: 56 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+1
Total area 112,622 km2 (2006)
CapitalPorto-Novo (official capital) (2009)
CurrencyCommunaute Financiere Africaine francs (XOF) (2009)
Government typerepublic (2009)
LanguagesFrench (official), Fon and Yoruba (most common vernaculars in south), tribal languages (at least six major ones in north)
ReligionsChristian 42.8% (Catholic 27.1%, Celestial 5%, Methodist 3.2%, other Protestant 2.2%, other 5.3%), Muslim 24.4%, Vodoun 17.3%, other 15.5% (2002 census)
Total population
1980199020002010*2015**
3.9 million5.33 million7.14 million9.64 million11.07 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
9.3%27.3%38.3%41.6%
Population median age18.0 years (2006)
Population growth rate3.1% (2009)
Life expectancy56 years (2007)
Adult literacy41% (2000/2007)
% of population living on less than $2 a day75.32% (2011)
Inequality of wealth distribution (Gini index)

38.6 (2003)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

81.45% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population3.13% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

0.4695 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE