Nominal GDP $19.940B, Per capita GDP $1,449.11, Population 13,712,828, Debt to GDP 53.0%, Inflation 16.8%, Unemployment 1.41%, Labor force participation rate 62.6%, Land area 44,310 sq miles. Arable land 24.83%, Exports $1.67B, Imports $6.09B, Trade Deficit $4.42B
The top exports of Benin are Raw Cotton ($587M), Gold ($386M), Coconuts, Brazil Nuts, and Cashews ($279M), Soybeans ($84.8M), and Other Oily Seeds ($42.3M), exporting mostly to India ($448M), Bangladesh ($406M), United Arab Emirates ($382M), China ($60.2M), and Egypt ($41.7M).
The top imports of Benin are Rice ($751M), Refined Petroleum ($370M), Palm Oil ($312M), Cars ($311M), and Poultry Meat ($199M), importing mostly from China ($1.49B), India ($840M), United States ($371M), United Arab Emirates ($346M), and France ($295M).
The main risks to the economy are unfavorable variations in global cotton and oil prices. Furthermore, the unfavorable evolution of Nigeria's economic situation and the worsening security situation in Benin's northern areas could compromise the economic outlook.
https://oec.world/en/profile/country/ben
Comments
Benin needs to grow their own food using their 25% Arable Land to reduce their Imports.
Norb Leahy, Dunwoody GA Tea Party Leader
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