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Benin News

Benins economy is still underdeveloped and dependent on subsistence Agriculture, fisheries and farming, cotton production, and regional trade. The production of cotton accounts for about 40% of GDP and approximately 80% of all export income. Growth in real output has averaged around 5 per cent in the past seven years, but rapid general populace growth has offset much of this increase. Inflation rate has subsided over the past several years. The major items which constitute the export business in the Benin Economy are Cotton, Cashews, Shea Butter, Textiles, Palm Products, Seafood, while the chief goods of import consist of foodstuffs, petroleum products and the capital goods. The countrys main trading partners include Nigeria, France, China, Italy, Brazil, Libya, Indonesia, U.K. and Cote d'Ivoire

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