Ambassador Candide AHOUANSOUchancery:
2737 Cathedral Avenue NW, Washington, DC 20008
telephone:
(202) 232–6656
FAX:
(202) 265–1996
US diplomatic representation:
chief of mission:
Ambassador Ruth A. DAVIS
embassy:
Rue Caporal Anani Bernard, Cotonou
mailing address:
B. P. 2012, Cotonou
telephone:
[229] 30–06-50, 30–05-13, 30–17-92
FAX:
[229] 30–14-39 and 30–19-74
Flag:
two equal horizontal bands of yellow (top) and red with a vertical
green band on the hoist side
@Benin, Economy
Overview:
Benin is one of the least developed countries in the world because of
limited natural resources and a poorly developed infrastructure.
Agriculture accounts for about 35% of GDP, employs about 60% of the
labor force, and generates a major share of foreign exchange earnings.
The industrial sector contributes only about 10% to GDP and employs 2%
of the work force. Low prices in recent years have kept down hard
currency earnings from Benin's major exports of agricultural products,
primarily cotton. A World Bank supported structural adjustment program
begun in 1989 has helped strengthen the economy through such measures
as trimming the government payroll, reforming the tax system, and
encouraging private investment, both domestic and foreign. Benin has
experienced 3 consecutive years of moderate growth as a result.
National product:
GDP - purchasing power equivalent - $6.2 billion (1993 est.)
National product real growth rate:
3% (1991)
National product per capita:
$1,200 (1993 est.)
Inflation rate (consumer prices):
3.4% (1990)
Unemployment rate:
NA%
Budget:
revenues:
$218 million
expenditures:
$355 million, including capital expenditures of $100 million (1991
est.)
Exports:
$328.8 million (f.o.b., 1991 est.)
commodities:
crude oil, cotton, palm products, cocoa
partners:
FRG 36%, France 16%, Spain 14%, Italy 8%, UK 4%
Imports:
$482.3 million (f.o.b., 1991 est.)
commodities:
foodstuffs, beverages, tobacco, petroleum products, intermediate
goods, capital goods, light consumer goods
partners:
France 20%, Thailand 8%, Netherlands 7%, US 5%
External debt:
$1 billion (December 1990 est.)
Industrial production:
growth rate −0.7% (1988); accounts for 10% of GDP
Electricity:
capacity:
30,000 kW
production:
25 million kWh
consumption per capita:
5 kWh (1991)
Industries:
textiles, cigarettes, construction materials, beverages, food
production, petroleum
Agriculture:
accounts for 35% of GDP; small farms produce 90% of agricultural
output; production is dominated by food crops - corn, sorghum,
cassava, beans, rice; cash crops include cotton, palm oil, peanuts;
poultry and livestock output has not kept up with consumption
Economic aid:
recipient:
US commitments, including Ex-Im (FY70–89), $46 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970–89), $1.3
billion; OPEC bilateral aid (1979–89), $19 million; Communist
countries (1970–89), $101 million
Currency:
1 CFA franc (CFAF) = 100 centimes
Exchange rates:
Communaute Financiere Africaine francs (CFAF) per US$1 - 592.05
(January 1994), 283.16 (1993), 264.69 (1992), 282.11 (1991), 272.26
(1990), 319.01 (1989)
note:
beginning 12 January 1994 the CFA franc was devalued to CFAF 100 per
French franc from CFAF 50 at which it had been fixed since 1948
Fiscal year:
calendar year
@Benin,
