Benin Cotton Exports To Decline This Year.

Oct. 16, 2009 - PRLog -- Cotton is the most important component of Benin's economy and it accounts for about 80% of government export receipts and about 40% GDP. The declining cotton exports will lower it's economic growth to 2.5 percent. There are several proposals to limit the damage to economy including benefits of government employees. These findings were released in the recent IMF visit to the country.

Other agricultural industries in Benin are extremely small and do not play a significant role in the economy. Benin has experienced some economic recovery after a democratic government was formed in 1990 and at least some private investments have flown in the country. The recent economic slowdown has taken its toll on this underdeveloped country.

Benin is a country located in West Africa between Togo and Nigeria. It has a total population of about 8.5 million and and area of 110,000 square km. Benin is trying to promote itself as a tourist destination and planning is also undergoing to set up information and communication technology centers. About 42% of the people are Christian,  25% Muslims, 17.3%  Vodun and rest are smaller factions. Literacy is below 50 % and AIDS is a major problem in the country. Healthcare services are not available to a large percentage of people and Benin's Adjegounle market is a kingdom of street pharmacies. The majority of Benin's population lives in the south. Present day Benin was the site of Dahomey, a prominent West African kingdom that rose in the 15th century. Growth in real output has averaged around 5% in the past seven years, but rapid population growth has offset much of this increase. An insufficient electrical supply continues to adversely affect Benin's economic growth though the government recently has taken steps to increase domestic power production. The population is young, with a life expectancy of 55 years. Benin's climate is hot and humid. Annual rainfall in the coastal area averages 36 cm.

Benin's economy is chiefly based on agriculture. The private commercial and agricultural sectors remain the principal contributors to growth.

Prepared by Alan
In collaboration with Saching (http://www.saching.com)