Countriesfacts
- Is Benin rich or poor?
- Why is Benin a low income country?
- How much does Benin make a year?
- What is the poverty line in Benin?
- Is Benin poorest country in Africa?
- How does Benin make money?
- How much is the flight ticket from Nigeria to Benin Republic?
- What is the unemployment rate in Benin?
- Is Benin richer than Nigeria?
- Is Benin a LDC?
- What is Benin religion?
- What type of economy is Benin?
- Is Benin a stable country?
Is Benin rich or poor?
While the country has experienced economic growth over the past few years and is one of Africa's largest cotton producers, it ranks among the world's poorest countries.
Why is Benin a low income country?
Economic Overview
Benin's economy is heavily reliant on agriculture and the informal reexport and transit trade with Nigeria (20% of GDP). In 2020, the poverty rate was 45.9% and real GDP fell to 3.8% in the wake of the COVID-19 crisis.
How much does Benin make a year?
$1,217 (nominal, 2019 est.)
What is the poverty line in Benin?
In 2019, poverty rate at national poverty line for Benin was 38.5 %. Poverty rate at national poverty line of Benin increased from 33 % in 2007 to 38.5 % in 2019 growing at an average annual rate of 4.07%. The description is composed by our digital data assistant.
Is Benin poorest country in Africa?
Though Benin has a relatively stable democratic government, it remains one of the poorest countries in Africa. Listed below are ten facts about poverty in Benin. 1. Almost 40 percent of Benin's population lives below the poverty line.
How does Benin make money?
Trade. Benin's export earnings rely on agricultural products, such as cotton, palm oil, cocoa, and coffee, exported to such countries as India, Malaysia, and Bangladesh. Informal trade (smuggling) across the border with Nigeria has also affected Benin's negative trade balance.
How much is the flight ticket from Nigeria to Benin Republic?
The average price for one way flights from Lagos to Benin City is NGN48,620. The average price for round trip flights from Lagos to Benin City is NGN97,655.
What is the unemployment rate in Benin?
Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Benin unemployment rate for 2020 was 2.54%, a 0.22% increase from 2019. Benin unemployment rate for 2019 was 2.32%, a 0.05% decline from 2018.
Is Benin richer than Nigeria?
Nigeria has a GDP per capita of $5,900 as of 2017, while in Benin, the GDP per capita is $2,300 as of 2017.
Is Benin a LDC?
Least Developed Country Category: Benin Profile | Department of Economic and Social Affairs.
What is Benin religion?
Christianity is the most widely professed religion in Benin, with 48.5% of the nation's total population being members of various Christian denominations. Consequently, it plays an important role in shaping the country's social and cultural life.
What type of economy is Benin?
Officially, Benin has a mixed economic system, however, subsistence farming and underdeveloped industries are indicative of a traditional economy in which the allocation of available resources is based on inheritance and primitive methods. Benin is a member of the Economic Community of West African States (ECOWAS).
Is Benin a stable country?
Benin has been cited as one of the most stable democratic systems in West Africa.
