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Market Opportunites in Benin :
The total untapped import potential for the market Benin stands at $5.6 bn
The products with greatest export potential from World to Benin are Semi-milled or wholly milled rice, False beards, eyebrows & -lashes, and Motor vehicles for the transport of persons,. Semi-milled or wholly milled rice shows the largest absolute difference between potential and actual exports in value terms, leaving room to realize additional exports worth $677.2 mn.
Benin is an LDC with strong agricultural potential. Its main exports are cotton, cashews, shea butter, textiles, palm products, seafood and increasingly pineapple.
In terms of regional integration, Benin is a member of the Economic Community of West African States (ECOWAS), the West African Economic and Monetary Union (WAEMU) and the Community of Sahel-Saharan States (CEN-SAD). Benin had a total export of 952,223.71 in thousands of US$ and total imports of 3,278,030.28 in thousands of US$ leading to a negative trade balance of -2,325,806.57 in thousands of US$ The Effectively Applied Tariff Weighted Average (customs duty) for Benin is 15.25% and the Most Favored Nation (MFN) Weighted Average tariff is 15.52%.
The trade growth is -14.84% compared to a world growth of 3.50%. GDP of Benin is 10,354,274,635 in current US$. Benin exports of goods and services as percentage of GDP is 35.38% and imports of goods and services as percentage of GDP is 44.19%.
Benin plays an important role in sub-regional trade thanks in particular to the Port of Cotonou which makes
Benin a transit country for the transport of goods to and from Niger, Burkina Faso, Mali, Chad and Nigeria. Benin leverages its port as a platform to reach over 100 million consumers in neighboring landlocked countries such as Burkina Faso, Mali, Niger, and Chad, and 155 million in Nigeria.
Benin is good markets for automobile spare parts, tyres, batteries, textiles, used machinery, foodstuff, computer hardware, lubricants, perfumes, cosmetics, stationery items etc
Until recently, Benin was best known for its cotton exports and its vibrant clothing designs. Since this year it is also the fastest place in the world to start a company. By providing a full online service, the government helped entrepreneurs create businesses and jobs during the pandemic. A third of Benin’s new entrepreneurs are women.
Market Opportunites in Togo
The total untapped import potential for the market Togo stands at $3.6 bn
The products with greatest export potential from World to Togo are Motorcycles, piston engine >50cm3 but <=250cm3, Plain wovens, >=85% cotton, >=100to 200g/m2, printed, and Palm oil (excl crude) & fractions. Motorcycles, piston engine >50cm3 but <=250cm3 shows the largest absolute difference between potential and actual exports in value terms, leaving room to realize additional exports worth $292.6 mn.
