6658
FAX: [1] (202) 265-1996

Diplomatic representation from the US:
chief of mission: Ambassador John M. YATES
embassy: Rue Caporal Bernard Anani, Cotonou
mailing address: B. P. 2012, Cotonou
telephone: [229] 30-06-50, 30-05-13, 30-17-92
FAX: [229] 30-14-39, 30-19-74

Flag description: two equal horizontal bands of yellow (top) and red
with a vertical green band on the hoist side

@Benin:Economy

Economy-overview: The economy of Benin remains underdeveloped and
dependent on subsistence agriculture, cotton production, and regional
trade. Growth in real output, which had averaged a sound 4% during
1990-95, rose to 5.5% in 1996 and was targeted at 4.8% for 1997. Rapid
population growth offset much of this growth in output. Inflation
jumped to 55% in 1994 (compared to 3% in 1993) following the 50%
currency devaluation in January 1994, but has subsided over the past
three years, with a target of 3.5% inflation in 1997. Commercial and
transport activities, which make up a large part of GDP, are extremely
vulnerable to developments in Nigeria, particularly fuel shortages.
Support by the Paris Club and official bilateral creditors has eased
the external debt situation in recent years. The government, still
burdened with money-losing state enterprises and a bloated civil
service, has been gradually implementing a World Bank supported
structural adjustment program since 1991.

GDP: purchasing power parity-$11.3 billion (1997 est.)

GDP-real growth rate: 5.8% (1997 est.)

GDP-per capita: purchasing power parity-$1,900 (1997 est.)

GDP-composition by sector:
agriculture: 34%
industry: 14%
services: 52% (1995)

Inflation rate-consumer price index: 3.5% (1997 est.)

Labor force: NA

Unemployment rate: NA%

Budget:
revenues: $299 million
expenditures: $445 million, including capital expenditures of $14
million (1995 est.)

Industries: textiles, cigarettes; beverages, food; construction
materials, petroleum

Industrial production growth rate: NA%

Electricity-capacity: 15,000 kW (1995)

Electricity-production: 6 million kWh (1995)

Electricity-consumption per capita: 45 kWh (1995)

Agriculture-products: corn, sorghum, cassava (tapioca), yams, beans,
rice, cotton, palm oil, peanuts; poultry, livestock

Exports:
total value: $192 million (f.o.b., 1995)
commodities: cotton, crude oil, palm products, cocoa
partners: Brazil 18%, Portugal 14%, Morocco, Libya, France

Imports:
total value: $693 million (c