Benin
Africa
Trade in Benin
| Benin was the world’s 162nd largest exporter of goods and 138th largest exporter of commercial services in 2022. Export values were $3.57 billion and $540 million USD respectively. Benin’s top export category was Agricultural products, followed by Manufactures, and Iron and steel. In 2022, Benin’s main export destination markets for goods and services trade were to Bangladesh, India and China, with trade representing 50.93 per cent of GDP. In terms of imports, Benin is the world’s 156th largest importer of goods and 136th largest importer of commercial services. Import values were $4.78 billion and $982 million USD respectively in 2022. Benin’s top import category was Manufactures, followed by Agricultural products and Fuels and mining products. Leading import partners were China, India and France. Benin is part of 3 different Regional Trade Agreements, including Economic Community of West African States (ECOWAS) and Global System of Trade Preferences among Developing Countries (GSTP). |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
|
|---|---|
Official Name |
Republic of Benin |
Abbreviation |
BJ |
Capital |
Porto-Novo |
WTO Membership Date |
22 February 1996 |
Legal System |
civil law system modeled largely on the French system and some customary law |
Language |
French |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
|
Currency |
West African CFA franc |
|
Exchange Rate |
Google Finance Currencies |
|
GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
|
Contact InformationThis section includes contact information for business support organizations and national resources. |
|
|
Business Support Organizations |
|
|
Copyright Offices |
|
|
Industrial Property Offices |
|
|
SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
|
|
TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
|
|
Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
|
Trade Information Portal |
https://tradeportal.bj/ |
Last Reviewed: June, 2024
Businesses & Entrepreneurs
Find a concise overview of key aspects of international trade for micro, small, and medium-sized enterprises with our Businesses & Entrepreneurs Guides.
Policymakers & Researchers
Find a concise overview of key aspects of trade and MSME-related policymaking with our dedicated library of Policymakers & Researchers Guides.
Resources related to Benin
View ResourceMSMEs, value chains and trade development in Southern Africa Case studies from selected countries
This study analyzes how Southern African micro-, small, and medium sized enterprises (MSMEs) are using innovations and technologies to integrate themselves into value chains and better utilize trade agreements.
- View Resource
Free Trade Deal Boosts Africa’s Economic Development
A World Bank study, released in collaboration with the AfCFTA Secretariat, accounts for the additional benefits that would accrue from an increase in foreign direct investment (FDI) – both from within and outside of Africa – that the deal is expected to generate.
- View Resource
Trade Facilitation and Gender Dimensions in South Africa
To identify specific challenges that men and women face in cross-border trade and determine where further reforms can be made, the World Bank Group completed a study on Trade Facilitation and Gender Dimensions in South Africa. Traders, customs brokers and freight forwarders were interviewed.
