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%.
Benin GDP from 1980 to 2024
The total market value of goods and services produced annually in Benin.
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.
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)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |