Benin: Sustained economic growth of 7.5% in 2024, driven by the tertiary sector

A marked increase compared to 2023

According to the bulletin published on March 27, 2025 by the National Institute of Statistics and Demography (Instad), Benin’s economic growth amounted to 7.5% in 2024 , compared to 6.4% in 2023. This performance is based on the growth of the three major economic sectors , led by the tertiary sector.

The tertiary sector: the main driving force of the economy

Representing 47.5% of real GDP , the tertiary sector remains the main driver of growth , with a contribution of 3.6 points to GDP growth. It posted growth of 7.5% , supported by the dynamism of trade and the rise of public services .

Strong growth in the secondary sector

The secondary sector saw an increase of 9.7% , compared to 7.3% in 2023. This development is driven by agro -industry and the acceleration of infrastructure projects , in particular major construction sites on a national scale.

The primary sector is also progressing

The primary sector , meanwhile , posted growth of 5.9% , compared to 5.1% the previous year. This performance is based on agricultural activities, livestock farming, fishing, forestry and hunting.

Private investment remains a major lever

Investment at constant prices increased by 10.5% in 2024, despite a slowdown compared to 2023. Private investment contributed 3.0% to real GDP growth, while public investment fell slightly ( -0.2% ).

It should also be noted that the share of investments in GDP in current values ​​stands at 35.1% , a figure slightly up compared to the previous year (34.5%), reflecting a continued effort.

A structural transformation strategy in progress

The Beninese government is pursuing its strategy of structural transformation of the economy , notably through the Glo-Djigbé Special Economic Zone (GDIZ) , which aims to stimulate exports and strengthen national competitiveness. In 2024, the operationalization of industries in the zone has intensified , according to Instad.

Resilience to external challenges

Despite a complicated regional context – notably the depreciation of the Nigerian naira and diplomatic tensions – Benin’s economy is showing resilience , according to the World Bank.

Conclusion

With robust growth of 7.5% in 2024 , Benin confirms its economic momentum, driven by a high-performing tertiary sector and continued solid private investment. The country is pursuing its diversification and modernization ambitions, relying on strategic levers such as the GDIZ and regional integration. For 2025, the government forecasts growth of 6.8% , in line with development geared towards sustainability and economic attractiveness.