Benin GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Benin's GDP changed from approximately $2B 302M in 1980 to $21B 371M in 2024, showing an overall 828.4% sharply increased during the period.
The lowest GDP was recorded in 1983 at $1B 365M, and the highest in 2024 at $21B 371M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.2%.
For comparison, the average annual growth rate of Togo was 3.7%, and that of Nigeria was 4.2%.

Overview of Benin's GDP (1980–2024)

The Gross Domestic Product (GDP) of Benin recorded a 828.4% sharply increased from 1980 to 2024.
The average GDP during this period was $7B 281M, and the median was $4B 191M.
GDP fluctuated within a range of $20B 6M, with a standard deviation of $5B 660M.
The average annual change was $404M 379K.


Benin GDP from 1980 to 2024

The total market value of goods and services produced annually in Benin.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1983, $1B 365M
    • Highest GDP: 2024, $21B 371M
    • Most Recent GDP: 2024, $21B 371M

    Notable Annual GDP Changes

    • 2021: Significant increase in GDP
    • 2015: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Benin's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $14B 392M → $15B 674M
    • Outcome: increased

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $8B 170M → $9B 728M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $3B 522M → $3B 666M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $3B 124M → $3B 362M
    • Outcome: increased

    Key Economic Indicators of Benin (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 2B 302M
    $ 614.04
    $ 955.19
    $ 3B 582M
    9.255 %
    -4.672 %
    20.17 %
    0 %
    3M 750K people
    1981
    $ 1B 557M
    $ 401.43
    $ 1,030.01
    $ 3B 996M
    1.929 %
    -16.923 %
    13.14 %
    0 %
    3M 880K people
    1982
    $ 1B 542M
    $ 385.57
    $ 1,078.90
    $ 4B 314M
    1.682 %
    -20.877 %
    1.99 %
    0 %
    3M 999K people
    1983
    $ 1B 365M
    $ 330.58
    $ 1,064.12
    $ 4B 394M
    -2 %
    -11.655 %
    0.67 %
    0 %
    4M 128K people
    1984
    $ 1B 456M
    $ 341.86
    $ 1,073.14
    $ 4B 570M
    0.4 %
    -3.66 %
    5.85 %
    0 %
    4M 259K people
    1985
    $ 1B 580M
    $ 359.17
    $ 1,118
    $ 4B 919M
    4.327 %
    -2.566 %
    3.30 %
    0 %
    4M 400K people
    1986
    $ 2B 36M
    $ 448.48
    $ 1,135.48
    $ 5B 156M
    2.748 %
    -2.725 %
    4.62 %
    0 %
    4M 541K people
    1987
    $ 2B 430M
    $ 519.04
    $ 1,105.19
    $ 5B 174M
    -2.074 %
    -1.512 %
    4.67 %
    0 %
    4M 682K people
    1988
    $ 2B 552M
    $ 527.91
    $ 1,146.24
    $ 5B 540M
    3.428 %
    -4.468 %
    5.31 %
    0 %
    4M 833K people
    1989
    $ 2B 370M
    $ 476.32
    $ 1,124.04
    $ 5B 593M
    -2.849 %
    -0.615 %
    6.94 %
    3.833 %
    4M 976K people
    1990
    $ 2B 890M
    $ 562.90
    $ 1,231.82
    $ 6B 323M
    8.976 %
    -0.677 %
    9.87 %
    -0.376 %
    5M 133K people
    1991
    $ 2B 954M
    $ 558.10
    $ 1,287.27
    $ 6B 814M
    4.226 %
    -7.971 %
    9.79 %
    -0.597 %
    5M 293K people
    1992
    $ 3B 284M
    $ 601.64
    $ 1,314.63
    $ 7B 175M
    2.958 %
    -2.369 %
    8.18 %
    0.788 %
    5M 458K people
    1993
    $ 3B 199M
    $ 560.71
    $ 1,362.33
    $ 7B 774M
    5.836 %
    -1.89 %
    8.82 %
    1.907 %
    5M 706K people
    1994
    $ 2B 227M
    $ 375.96
    $ 1,367.48
    $ 8B 100M
    2.02 %
    0.483 %
    11.19 %
    0.814 %
    5M 923K people
    1995
    $ 2B 993M
    $ 495.05
    $ 1,450.40
    $ 8B 770M
    6.045 %
    -5.631 %
    11.77 %
    -0.043 %
    6M 47K people
    1996
    $ 3B 251M
    $ 524.07
    $ 1,501.74
    $ 9B 317M
    4.324 %
    -1.269 %
    9.87 %
    2.118 %
    6M 204K people
    1997
    $ 3B 124M
    $ 489.14
    $ 1,568.92
    $ 10B 21M
    5.735 %
    -4.966 %
    9.42 %
    2.232 %
    6M 387K people
    1998
    $ 3B 362M
    $ 510.57
    $ 1,600.01
    $ 10B 535M
    3.961 %
    -3.949 %
    9.89 %
    3.492 %
    6M 584K people
    1999
    $ 3B 681M
    $ 542.24
    $ 1,642.38
    $ 11B 149M
    4.358 %
    -4.232 %
    13.32 %
    2.557 %
    6M 789K people