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Country name:

conventional long form: Republic of Benin
conventional short form: Benin
local long form: Republique du Benin
local short form: Benin
former: Dahomey
 

 

Capital:

name: Porto-Novo (official capital)
 

 

Location:

Western Africa, bordering the Bight of Benin, between Nigeria and Togo

 

Area:

total: 112,622 sq km
land: 110,622 sq km
water: 2,000 sq km

 

Population:

8,791,832

 

Climate:
tropical; hot, humid in south; semiarid in north

 

Benin www.meteo-benin.net 

 

Languages:

French (official), Fon and Yoruba (most common vernaculars in south), tribal languages (at least six major ones in north)

 

Economy- 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 seven 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. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, and the financial sector 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 though the government annulled the privatization of Benin's state cotton company in November 2007 after the discovery of irregularities in the bidding process. 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. An insufficient electrical supply continues to adversely affect Benin's economic growth though the government recently has taken steps to increase domestic power production.
 

 

Economy:

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 seven 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. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, and the financial sector 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 though the government annulled the privatization of Benin's state cotton company in November 2007 after the discovery of irregularities in the bidding process. 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. An insufficient electrical supply continues to adversely affect Benin's economic growth though the government recently has taken steps to increase domestic power production.

 

 

Industries:

textiles, food processing, construction materials, cement

 

Exports - commodities:

$894 million (2008 est.)
cotton, cashews, shea butter, textiles, palm products, seafood
 
 

 

Imports - commodities:

$1.399 billion (2008 est.)
foodstuffs, capital goods, petroleum products

 

Exchange rates:

Communaute Financiere Africaine francs (XOF) per US dollar - 447.81 (2008 est.), 493.51 (2007), 522.59 (2006), 527.47 (2005), 528.29 (2004) note: since 1 January 1999, the West African CFA franc (XOF) has been pegged to the euro at a rate of 655.957 CFA francs per euro; West African CFA franc (XOF) coins and banknotes are not accepted in countries using Central African CFA francs (XAF), and vice versa, even though the two currencies trade at par
 

GDP :
$12.83 billion (2008 est.)
$12.25 billion (2007 est.)
$11.72 billion (2006 est.)

 

 

Map of Benin

Useful links:

  • Ministries & Organization
  • Trade Associations & Chamber of Commerce
  • Benin Chamber of Commerce
    There is available to get information about Benin Chamber of Commerce’s contact address.
  • Economy and Industry
  • Benin Business Links
    There are listed the business links of Benin which provide assistance to the potential investors for getting into Benin's business environment.
  • Doing Business in Benin
    World Bank represents a snapshot of the business climate in Benin by identifying specific regulations and policies that encourage or discourage investment, productivity, and growth related to Benin.
  • Benin Yellow Pages
    It is available to find out category-wise listings of business in Benin, including telephone numbers and postal address.
  • Trade Guide for Benin
    There is available to get comprehensive information not only about Benin imports, export regulations and other formalities and documents related to commercial transactions but also main exported and imported products & trading partners in Benin and so forth.
  • Trade Fairs

 

 

 

  • Others

 

  Copyright By :  Kish Trade Promotion Center  2002