Benin is generally considered a low-income to lower-middle-income country, depending on the metrics used. Here’s a breakdown to give you a clear picture:
Economic Classification
According to the World Bank (2025):
- Income Level: Lower-middle income
- GDP (2024 estimate): ~$20 billion USD
- GDP per capita: ~$1,400 USD
- Ranked among the poorest countries in terms of GDP per capita, though improving steadily.
🌾 Key Facts:
- Main industries: Agriculture (cotton, cashew nuts, maize), trade, and services
- Over 40% of the population lives in poverty, especially in rural areas
- High youth unemployment and underemployment persist
- Inequality between urban and rural areas is significant
📈 Signs of Progress
Benin has shown:
- Stable economic growth (5–6% annually in recent years)
- Strong investments in infrastructure, ports, and energy
- Increased foreign aid and development funding (e.g., World Bank, IMF, AfDB)
⚖️ But… Challenges Remain
- Access to basic services (healthcare, education, clean water) is limited in many regions
- Heavy dependence on informal economy
- Northern regions face security concerns and climate stress
✅ Summary:
| Category | Status |
|---|---|
| Income Level | Lower-middle income |
| GDP per Capita | ~$1,400 USD |
| Poverty Rate | ~40% |
| Economic Growth | Positive (5–6%) |
| Human Development | Low (but improving) |
So, Benin is not considered rich, but it is developing and showing positive economic trends.
