Names: conventional long form: Republic of Benin conventional short form: Benin local long form: Republique du Benin local short form: Benin former: Dahomey
Capital City: Porto-Novo (official capital)
Population: 7,862,944 note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality and death rates, lower population and growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2006 est.)
GDP Per Capita: $1,100 (2006 est.)
Currency: Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States
Languages: French (official), Fon and Yoruba (most common vernaculars in south), tribal languages (at least six major ones in north)
Total Area: total: 112,620 sq km land: 110,620 sq km water: 2,000 sq km slightly smaller than Pennsylvania
Region: Africa
Industries: textiles, food processing, construction materials, cement
Agriculture: cotton, corn, cassava (tapioca), yams, beans, palm oil, peanuts; livestock
Resources: small offshore oil deposits, limestone, marble, timber
Labor Force:
3.211 million (1996)
Exports:
$563.1 million f.o.b. (2006 est.)
cotton, crude oil, palm products, cocoa
Imports:
$927.3 million f.o.b. (2006 est.)
foodstuffs, capital goods, petroleum products
Overview:
The economy of Benin remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output has averaged around 5% in the past six years, but rapid population growth has offset much of this increase. Inflation has subsided over the past several years. In order to raise growth still further, Benin plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new food processing systems and agricultural products, and encourage new information and communication technology. Many of these proposals were included in Benin's $307 million Millennium Challenge Account grant signed in February 2006. The 2001 privatization policy continues in telecommunications, water, electricity, and agriculture in spite of government reluctance. The Paris Club and bilateral creditors have eased the external debt situation, with Benin benefiting from a G8 debt reduction announced in July 2005, while pressing for more rapid structural reforms. Benin continues to be hurt by Nigerian trade protection that bans imports of a growing list of products from Benin and elsewhere, which has resulted in increased smuggling and criminality in the border region.
In 2007 Missouri exported $473,299 in goods to Benin. This ranks Benin 88th among the 223 international buyers of Missouri goods. Missouri exports to Benin decreased from the previous year by $16,492 a change of -3.37%. State exports to Benin have decreased over the last 5 years by $104,887 a change of -18.14%. Missouri exports account for .00%. of all 2007 US exports to Benin.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 578,186 | 890,956 | 524,005 | 676,009 | 489,791 | 473,299 | |
| 000 - Total All Industries US | 35,171,871 | 30,243,843 | 44,906,926 | 70,820,138 | 115,537,358 | 289,410,571 | |