Economy

Benin’s economy is principally agricultural: it is self-sufficient in basic food requirements. Economically difficult times of the early 90’s seem to be over with the help of a stable government and external investments. Benin has maintained a 5% annual growth since 1995. In recent years, there have been a spurt in cotton export and the expansion of the Cotonou port. The main export commodities are fuel and cotton, while peanuts, coffee, cocoa, cashew nuts and palm oil are the main cash crops. Benin’s natural resources are gold, iron and chrome. Membership of the CFA franc zone offers reasonable currency stability and, more importantly, access to French economic support. Apart from France, the other trading partners include Holland, Korea, India and Japan.