Benin – Fast Facts
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Benin is a Lower income economies comes under the Sub-Saharan African region as to the classification made by the world bank on the basis of income and region for the year 2006.
The country’s economy is largely dependent upon the agricultural sector. As to the statistics, in the year 2004, the percentage share of the agricultural sector in the total GDP was 36.3%. The country has attracted a larger amount of both private and public foreign investment in the recent years. The economic performance of the country is experiencing a phase of recovery recently.
Benin is a Lower income economies comes under the Sub-Saharan African region as to the classification made by the world bank on the basis of income and region for the year 2006.
The country’s economy is largely dependent upon the agricultural sector. As to the statistics, in the year 2004, the percentage share of the agricultural sector in the total GDP was 36.3%. The country has attracted a larger amount of both private and public foreign investment in the recent years. The economic performance of the country is experiencing a phase of recovery recently.
Major agricultural products of the country are palm oil, coffee and tobacco and cotton. Important industries in the country are sugar, oil processing and food processing and textiles.
