Benin: exports up and imports down in the fourth quarter of 2024

Benin’s merchandise exports rose by 4.1% in the fourth quarter of 2024 compared with the previous quarter, while imports fell by 7.4%, according to a report published Tuesday by the National Institute of Statistics and Demography (Instad).

According to Instad’s quarterly bulletin of foreign trade statistics, this rise in exports was mainly due to increased sales of oil seeds and fruits ( 29.2%), cotton ( 3.3%) and other vegetable fats ( 3.2%), which were the main growth drivers this year compared to the previous quarter.

By contrast, on an annual basis, exports recorded a 20.4% response, the report points out. With regard to imports, the decline observed in the fourth quarter was mainly due to lower purchases of rice, petroleum bitumen, petroleum coke and bituminous mixes, as well as construction, with decreases of 4.5%, 1.1% and 0.8% respectively.

Year-on-year, imports fell by 17.7%, according to Instad data.