From a health perspective, Benin seems to have fared better than many other countries during the COVID–19 pandemic. But the economic effects of the pandemic have been significant in a country considered among the best-performing in Africa. Benin’s real GDP growth was estimated to have slowed to 2.3% in 2020, following 6.9% in 2019 and 6.7% in 2018. The slowdown in growth on the supply side reflects the underperformance of commerce, transport, agriculture, and hotels and restaurants—the sectors most affected by the pandemic. On the demand side, the slowdown in growth in 2020 is linked to lower investment and private consumption. Inflation doubled from –0.9% in 2019 to 2% in 2020, mainly because of higher food prices. Tax revenue fell 6.5%, and spending increased 14.3% in 2020 due to the slowdown in economic activity and higher health and social spending. The budget deficit was 3% of GDP in 2020, compared with 0.5% in 2019. The current account deficit improved slightly to 4.0% of GDP in 2020 from 4.7% in 2019—due to a 4.6% decline in the value of imports. (Download detailed Analysis Source : Report African Economic Outlook 2021 ; AfDB)
As a member of UEMOA, the Benin is a member of the Regional Securities Exchange (BRVM), which account 59 listed companies, representing, in the end of 2017, representing a market capitalization of $ 16.3 billion.
in the end of 2016, the banking sector of UEMOA represented a total asset of $ 36 billion.
Credit distributed to private sector in 2017 represents $ 30 billion.
Amounts invested by private equity represents $ 103 million.