Benin Archives - Economy Watch

Benin Held Elections as Current President Leaves Office

Benin voters have chosen their new president over the weekend as President Thomas Boni Yayi steps down after two terms, according to Reuters. The country had 33 candidates to choose from, but leading contender Prime Minister Lionel Zinsou is supported by Yayi and he has campaigned on a platform of bringing jobs to young people and aiding small businesses.

Benin is a small West African country, which has suffered immensely due to political instability and the decline of Nigeria’s economy. The election results are pending.

Benin Export Import, Export Import in Benin, Benin Foreign Trade, Benin Export Commodity

Exports and Imports levels in the country are as follows:

Economic Structure Of Benin

The economy is more dependent upon the agriculture sector including palm products, cocoa, beans, rice and peanuts. The major industries in the country are the food processing, textiles, cement and construction.

The following diagram shows the percentage share of the different sectors of the economy in total GDP.

Benin Economy and facts of Benin Economy

Benin Economy : Benin is a Lower-income country comes under the Sub-Saharan African region, according to the classification made by the World Bank on the basis of Region and Income for the year 2006.

The country has a total surface area of 112.6 thousand square kilometer as of the year 2004 with a forest area of 26,750.0 square kilometer as in 2000.

The Socioeconomic indicators of the country over the years are as follows:

Benin – Fast Facts

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.