Trade Trend

In 2023, Benin's total export value is 1.06Billion USD, total import value is 3.98Billion USD, Deficit is -2.93Billion USD, and foreign trade dependency is 0.256. In 2023，Benin's top export products are Cotton; not carded or combed(505.25Million USD), Nuts, edible; coconuts, Brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled(112.84Million USD), Soya beans, whether or not broken(91.64Million USD), top export destinations are Bangladesh(392.13Million USD), India(162.94Million USD), Pakistan(76.35Million USD). In 2023, Benin's top import products are Rice(651.91Million USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(494.66Million USD), Palm oil and its fractions; whether or not refined, but not chemically modified(149.92Million USD), top import origins are India(672.65Million USD), China(546.10Million USD), France(329.31Million USD).

Comparing to 2022, Benin's total export value increased 143.98Million USD(15.80%) in 2023, this could result from its export increases of products such as Soya beans, whether or not broken(81.56Million USD or 808.73%), Nuts, edible; coconuts, Brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled(79.88Million USD or 242.43%), Oilcake and other solid residues; whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil(26.37Million USD or 13.37Thousands%) and export increases to countries/economics such as India(55.06Million USD or 51.04%), United Arab Emirates(38.44Million USD or 531.84%), Pakistan(37.58Million USD or 96.90%). Comparing to 2022, Benin's total import value increased 133.17Million USD(3.46%) in 2023, this could result from its import increases of products such as Palm oil and its fractions; whether or not refined, but not chemically modified(103.18Million USD or 220.72%), Insecticides, rodenticides, fungicides, herbicides, antisprouting products, plant growth regulators, disinfectants and the like, put up in forms or packings for retail sale or as preparations or articles(51.93Million USD or 123.91%), Fertilizers; mineral or chemical, nitrogenous(51.40Million USD or 640.83%), and its import increases from countries/economies such as India(84.29Million USD or 14.33%), Cote D'ivoire(82.01Million USD or 234.59%), Malaysia(58.65Million USD or 140.18%).

Cumulated to first 7 months of 2024, Benin's total export value is 524.89Million USD, total import value is 1.16Billion USD, and tradedeficit is -630.37Million USD. Cumulated to first 7 months of 2024, Benin's top export products are Cotton; not carded or combed(178.92Million USD), Soya beans, whether or not broken(162.71Million USD), Oil seeds and oleaginous fruits, n.e.c. in chapter 12; whether or not broken(34.78Million USD), and top export destinations are Bangladesh(170.06Million USD), China(121.75Million USD), India(59.39Million USD). Cumulated to first 7 months of 2024, Benin's top import products are Cotton; not carded or combed(178.92Million USD), Soya beans, whether or not broken(162.71Million USD), Oil seeds and oleaginous fruits, n.e.c. in chapter 12; whether or not broken(34.78Million USD), and top import origins areChina(269.58Million USD), India(128.39Million USD), United States(97.28Million USD).