Benin | Imports and Exports | World | Woven fabrics of cotton, containing less than 85 % by weight of cotton, mixed mainly or solely with man-made fibres, weighing not more than 200 g/m2 | Value (US$) and Value Growth, YoY (%) | 2011 - 2022 (2024)

FAQs

What is Benin's main export? ›

Benin exports mostly agricultural products. Cotton (40 percent of total exports) is the most important export followed by cocoa, maize and seafood. This lack of diversification makes the country's trade highly vulnerable to weather conditions and price fluctuations.

In 2020, Benin imported about $4.22 billion in goods such as rice, meat and poultry, alcoholic beverages, fuel, plastic materials, palm oil, electricity, and passenger vehicles.

Exports The top exports of Togo are Gold ($1.18B), Refined Petroleum ($1.07B), Calcium Phosphates ($434M), Soybeans ($234M), and Electricity ($105M), exporting mostly to United Arab Emirates ($1.19B), India ($511M), Cote d'Ivoire ($474M), South Africa ($271M), and Burkina Faso ($249M).

In 2021-2022, the national poverty rate was 36.2%, down 2.3 percentage points on 2018-2019, with an unemployment rate of 2.4% but a level of underemployment at 72% and 90.1% of working people in informal employment.

Top commodities produced by value are yams, cassava, cotton lint, cashew nuts, pineapples, corn, tomatoes, cattle, hot peppers, and rice.

Benin currently exports 100% of its ginned cotton to Vietnam and Bangladesh. With the exponential growth of consumer demand in ECOWAS and WAEMU (apart from Americas and Europe) there is an unrivalled opportunity to process cotton bales within the country.

Benin City has long been famous for its “bronzes”—actually brass work, some of which is said to date from the 13th century—and for its ivory and wood carvings. Its museum (1960) has a notable collection of some of the kingdom's early pieces.

Principal exports are ginned cotton, cotton cake and cotton seeds, cashew, shea butter, cooking oil, and lumber. Benin's chief import partners include the United Arab Emirates, Brazil, China, Germany, Spain, France, India, Malaysia, the Netherlands, Togo, and Thailand.

According to the most recent 2020 estimate, the population of Benin is 52.2% Christian, 24.6% Muslim, 17.9% traditionalist and 5.3% follows other faiths or has no religion.

What does Nigeria import from Benin? ›

Togo is centred as one of the leading countries with the largest producer of minerals. Some of the most significant minerals produced here include limestone, gold, and diamonds.

FOREIGN RELATIONS

Although Togo's foreign policy is nonaligned, it has strong historical and cultural ties with western Europe, especially France and Germany. Togo recognizes the People's Republic of China, North Korea, and Cuba. It reestablished relations with Israel in 1987.

In 2019, Top exporters of Vegetable oils; sesame oil and its fractions, whether or not refined, but not chemically modified are Japan ($59,537.59K , 9,244,450 Kg), India ($27,133.14K , 8,593,100 Kg), Mexico ($24,904.66K , 4,071,500 Kg), Other Asia, nes ($24,001.02K , 4,877,700 Kg), China ($22,712.27K , 5,663,990 Kg).

Benin's export earnings rely on agricultural products, such as cotton, palm oil, cocoa, and coffee, exported to such countries as India, Malaysia, and Bangladesh. Informal trade (smuggling) across the border with Nigeria has also affected Benin's negative trade balance.

Benin's economy largely depends on subsistence agriculture including cotton, textile, oil, and regional trade.

The success of Benin was fueled by its lively trade. Tradesmen and artisans from Benin developed relationships with the Portuguese, who sought after the kingdom's artwork, gold, ivory, and pepper. In the early modern era, Benin was also heavily involved in the West African slave trade.

Cotton accounts for 40% of Benin's GDP and roughly 80% of official export receipts. There is also production of textiles, palm products, and cocoa beans. Maize (corn), beans, rice, peanuts, cashews, pineapples, cassava, yams, and other various tubers are grown for local subsistence.