International organization participation:
ACCT, ACP, AfDB, AU, ECOWAS, Entente, FAO, FZ, G-77, IAEA, IBRD,
ICAO, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO,
Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC, MIGA,
MONUC, NAM, OIC, OIF, ONUB, OPCW, UN, UNCTAD, UNESCO, UNIDO, UNMIL,
UNMIS, UNOCI, UNWTO, UPU, WADB (regional), WAEMU, WCL, WCO, WFTU,
WHO, WIPO, WMO, WTO
Diplomatic representation in the US: chief of mission: Ambassador Cyrille Segbe OGUIN chancery: 2124 Kalorama Road NW, Washington, DC 20008 telephone: [1] (202) 232-6656 FAX: [1] (202) 265-1996
Diplomatic representation from the US: chief of mission: Ambassador Gayleatha B. BROWN embassy: Rue Caporal Bernard Anani, Cotonou mailing address: 01 B. P. 2012, Cotonou telephone: [229] 30-06-50 FAX: [229] 30-06-70
Flag description:
two equal horizontal bands of yellow (top) and red (bottom) with a
vertical green band on the hoist side
Economy Benin
Economy - overview:
The economy of Benin remains underdeveloped and dependent on
subsistence agriculture, cotton production, and regional trade.
Growth in real output has averaged around 5% in the past six years,
but rapid population growth has offset much of this increase.
Inflation has subsided over the past several years. In order to
raise growth still further, Benin plans to attract more foreign
investment, place more emphasis on tourism, facilitate the
development of new food processing systems and agricultural
products, and encourage new information and communication
technology. Many of these proposals were included in Benin's $307
million Millennium Challenge Account grant signed in February 2006.
The 2001 privatization policy continues in telecommunications,
water, electricity, and agriculture in spite of government
reluctance. The Paris Club and bilateral creditors have eased the
external debt situation, with Benin benefiting from a G8 debt
reduction announced in July 2005, while pressing for more rapid
structural reforms. Benin continues to be hurt by Nigerian trade
protection that bans imports of a growing list of products from
Benin and elsewhere, which has resulted in increased smuggling and
criminality in the border region.
GDP (purchasing power parity):
$8.931 billion (2006 est.)
GDP (official exchange rate):
$4.622 billion (2006 est.)
GDP - real growth rate:
4% (2006 est.)
GDP - per capita (PPP):
$1,100 (2006 est.)