Benin

Republic of Benin

French West African CFA (XOF) French civil law
AU, ECOWAS, WAEMU, AfCFTA, WTO
Benin is one of West Africa's fastest-growing economies, driven by port services (Cotonou is a major transit hub for Nigeria and landlocked neighbors), cotton production (Africa's largest producer), agriculture, and trade. President Patrice Talon's reform agenda has improved the business climate significantly. The Glo-Djigbe Industrial Zone (GDIZ) near Cotonou targets textile and agro-processing. Tourism is growing with the restoration of the Royal Palaces of Abomey (UNESCO site) and development of the Route des Esclaves. Benin benefits from CFA franc stability and ECOWAS market access.

Snapshot

Population~14.9 MWorld Bank WDI
GDP (current USD)$24.4 BIMF WEO
GDP per Capita$1,640IMF WEO
GDP Growth6.00%IMF WEO
Inflation (y/y)~2.80%Central Bank / IMF
Policy Rate (BCEAO rate)3.50%Central Bank
Internet Use~35.00%World Bank WDI
Electrification~42.00%World Bank WDI
CPI Score (Rank)42.0/100 (#75)Transparency Intl
HDI (Rank)0.504 (#166)UNDP HDR

Focus Sectors

Cotton
Agriculture (cashew
shea)
Port Services (Cotonou)
Trade & Transit
Tourism
Telecoms
Construction
Digital Economy
Energy

Regulations & Taxes

Corporate Income Tax30% standard
VAT / Sales Tax18% standard
Data Notes: Population, GDP, and GDP per capita are latest IMF WEO / World Bank estimates. Inflation is year-over-year. Trade data from UN Comtrade/OEC (2023). Tax rates from PwC/KPMG country guides. CPI from Transparency International. HDI from UNDP Human Development Report.
Narrative last updated: April 8, 2026.