- published: 08 Nov 2013
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The economy of Benin remains underdeveloped and dependent on subsistence agriculture and cotton. Cotton accounts for 40% of GDP and roughly 80% of official export receipts. There is also production of textiles, palm products, and cocoa beans. Maize (corn), beans, rice, peanuts, cashews, pineapples, cassava, yams, and other various tubers are grown for local subsistence. Benin began producing a modest quantity of offshore oil in October 1982. Production ceased in recent years but exploration of new sites is ongoing. A modest fishing fleet provides fish and shrimp for local subsistence and export to Europe. Formerly government-owned commercial activities are now privatized. A French brewer acquired the former state-run brewery. Smaller businesses are privately owned by Beninese citizens, but some firms are foreign owned, primarily French and Lebanese. The private commercial and agricultural sectors remain the principal contributors to growth.
Benin i/bɨˈniːn/ (formerly, Dahomey), officially the Republic of Benin, is a country in West Africa. It is bordered by Togo to the west, by Nigeria to the east and by Burkina Faso and Niger to the north. A majority of the population live on its small southern coastline on the Bight of Benin. The capital of Benin is Porto-Novo, but the seat of government is in Cotonou, the country's largest city. Benin covers an area of approximately 110,000 square kilometers (42,000 sq mi), with a population of approximately 9.05 million. Benin is a tropical, sub-Saharan nation, highly dependent on agriculture, with substantial employment and income arising from subsistence farming.
The official language of Benin is French, however, indigenous languages such as Fon and Yoruba are commonly spoken. The largest religious group in Benin is Roman Catholicism, followed closely by Islam, Vodun and Protestantism. Benin is a member of the United Nations, the African Union, the Organisation of Islamic Cooperation, South Atlantic Peace and Cooperation Zone, La Francophonie, the Community of Sahel-Saharan States, the African Petroleum Producers Association and the Niger Basin Authority.