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FOREIGN TRADE
Exports and Imports levels in the country are as follows:
| |
2000 |
2003 |
2004 |
| Exports of goods and services (% of GDP) |
15.2 |
14.3 |
15.1 |
| Imports of goods and services (% of GDP) |
28.1 |
25.8 |
26.4 |
| Merchandise trade (% of GDP) |
44.6 |
36.5 |
37.7 |
| Net barter terms of trade (2000 = 100) |
100.0 |
96.6 |
93.2 |
| Foreign direct investment, net inflows (BoP, current US$) |
67.0 million |
48.0 million |
60.0 million |
| Long-term debt (DOD, current US$) |
1.4 billion |
1.7 billion |
1.8 billion |
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Major exportable commodities of the country are Crude oil, cotton, palm products and Cocoa. Country's exports partners are India, China, Thailand, Niger and Ghana.
Importable commodities in the country are capital goods, food items and petroleum products. Imports partners of the country are Thailand, France and China.
CONCLUSION
The country joined the World Bank in the year 1963. Benin is also a member of the World Trade Organization. The Bank from time to time has adopted different policies for reducing poverty and maintaining higher economic growth.
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