2024-08-29 03:40:43
In the first quarter of 2024, Benin’s merchandise exports increased by 69.3% compared to the fourth quarter of 2023. Cotton sales are estimated at 107.5 billion, according to the July Quarterly Bulletin on Foreign Trade Statistics 2024 from the National Institute of Statistics and Demography (INStaD ).
Falco VIGNON
Bangladesh is the leader of Benin’s customer partners, with 42.7% of the total value of foreign sales during the quarter under review. The main commodity exported to this country, for the first quarter of 2024, is “cotton (excluding linters), not carded or combed” with a value of 102.7 billion FCFA (87,193.0 tons). “Cotton (excluding linters), not carded or combed” dominated foreign sales during the quarter, with a value of 107.5 billion FCFA (91,220.9 tons). It is followed by “soybeans”, sold for 39.1 billion FCFA (170,077.5 tons), “oilseed seeds and fruits, nes” sold for 13.5 billion FCFA (37,244.3 tons) and “cakes and other solid residues (except spent grains )…” for a value of 13.5 billion FCFA (41,052.0 tons).
The Quarterly Bulletin on Foreign Trade Statistics for July 2024 from the National Institute of Statistics and Demography reports that in the first quarter of 2024, “cotton (excluding linters), not carded or combed” (+ 35.4 percentage points), “soybeans ” ( +14.2 percentage points) and “olive seeds and fruits, nes” (+8.8 percentage points) are the main products that contributed to the increase in exports compared to the previous quarter.
Year on year, external sales increased by 35.2%. “Soybeans” (+21.1 percentage points), “cakes and other solid residues…” (+5.3 percentage points) and “olive seeds and fruit, nes” (+4.1 percentage points), are the main products sold abroad contribution with the increase in exports. It should be noted that the evolution of the different layers of foreign trade is characterized by the presence of seasonal phenomena. In the last four quarters, Benin’s exports have experienced very irregular developments. Foreign sales, adjusted for seasonal variations, were at 195.8 billion FCFA in the first quarter of 2024, compared to 146.7 billion FCFA in the same period of the previous year, an increase of 33. 4% shows INStaD.
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