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Economy of Benin vs Mali compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $26.8B for Mali, ranking 126/197 and 113/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $13.9B (51.7% of GDP) in Mali.

Benin vs Mali GDP by year

Benin
Mali
1x
Year GDP, current $
Benin Mali
2024 $21,482,643,706 $26,794,747,240
2023 $19,673,291,004 $24,813,860,599
2022 $17,425,405,091 $22,539,987,719
2021 $17,687,623,530 $22,999,245,263
2020 $15,686,741,884 $20,698,560,939
2019 $14,391,686,313 $20,477,421,885
2018 $14,262,408,090 $20,368,015,381
2017 $12,701,655,837 $18,308,362,040
2016 $11,821,065,853 $16,743,796,800
2015 $11,388,160,997 $15,583,181,170
2014 $13,284,527,847 $17,081,681,993
2013 $12,517,845,124 $15,747,192,681
2012 $11,141,358,116 $14,795,114,603
2011 $10,693,321,364 $15,452,791,789
2010 $9,535,345,016 $12,710,739,159
2009 $9,738,626,517 $12,155,217,833
2008 $9,787,734,526 $11,462,490,840
2007 $8,169,048,383 $9,699,047,443
2006 $7,034,111,315 $8,212,007,554
2005 $6,567,654,954 $7,429,066,951
2004 $6,190,270,380 $6,485,774,930
2003 $5,349,258,094 $5,605,613,011
2002 $4,194,342,686 $4,647,238,257
2001 $3,666,222,635 $4,124,281,594
2000 $3,519,991,440 $3,521,570,876
1999 $3,677,393,999 $4,091,446,054
1998 $2,455,092,686 $3,894,433,432
1997 $2,268,301,646 $3,414,879,486
1996 $2,361,116,449 $3,743,103,420
1995 $2,169,627,138 $3,373,322,735
1994 $1,598,075,944 $2,655,768,636
1993 $2,274,558,083 $3,632,801,877
1992 $1,695,315,306 $3,680,775,037
1991 $1,986,437,797 $3,576,562,682
1990 $1,959,965,330 $3,248,417,791
1989 $1,502,294,416 $2,824,822,489
1988 $1,620,246,084 $2,712,207,901
1987 $1,562,412,228 $2,437,004,680
1986 $1,336,102,025 $2,132,938,007
1985 $1,045,712,789 $1,594,347,021
1984 $1,051,134,009 $1,387,809,615
1983 $1,095,348,199 $1,496,616,127
1982 $1,267,778,670 $1,680,304,773
1981 $1,291,120,188 $2,234,583,940
1980 $1,405,251,847 $2,704,362,789
1979 $1,186,231,020 $1,595,422,956
1978 $928,843,469 $1,222,702,573
1977 $750,049,779 $1,049,838,548
1976 $698,408,262 $939,228,017
1975 $676,870,140 $830,710,615
1974 $554,654,861 $538,747,340
1973 $504,376,074 $563,683,703
1972 $410,331,857 $486,617,280
1971 $335,073,028 $395,218,629
1970 $333,627,713 $359,772,315
1969 $330,748,245 $339,913,867
1968 $326,323,105 $343,771,973
1967 $306,221,953 $275,494,478
1966 $302,925,235 -
1965 $289,908,680 -
1964 $269,819,006 -
1963 $253,927,697 -
1962 $236,434,954 -
1961 $235,668,221 -
1960 $226,195,578 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/benin/mali | CC BY

GDP per capita in Benin vs Mali by year

Benin
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $1,095 $3,315
2023 $1,394 $4,130 $1,044 $3,175
2022 $1,266 $3,844 $977 $3,014
2021 $1,319 $3,464 $1,027 $2,796
2020 $1,200 $3,245 $953 $2,724
2019 $1,131 $3,149 $972 $2,820
2018 $1,152 $2,965 $996 $2,684
2017 $1,055 $2,886 $924 $2,607
2016 $1,011 $2,842 $872 $2,532
2015 $1,002 $2,725 $838 $2,330
2014 $1,204 $2,670 $948 $2,185
2013 $1,169 $2,512 $902 $2,059
2012 $1,072 $2,346 $873 $1,990
2011 $1,059 $2,265 $938 $2,046
2010 $973 $2,220 $797 $2,012
2009 $1,024 $2,213 $787 $1,945
2008 $1,061 $2,215 $767 $1,893
2007 $912 $2,136 $671 $1,852
2006 $809 $2,021 $587 $1,832
2005 $779 $1,946 $549 $1,771
2004 $759 $1,915 $495 $1,730
2003 $676 $1,842 $442 $1,715
2002 $546 $1,800 $378 $1,581
2001 $492 $1,746 $346 $1,559
2000 $487 $1,671 $305 $1,357
1999 $525 $1,592 $364 $1,376
1998 $362 $1,537 $357 $1,332
1997 $345 $1,508 $321 $1,267
1996 $369 $1,444 $360 $1,224
1995 $348 $1,395 $331 $1,154
1994 $262.1 $1,316 $266.5 $1,147
1993 $387 $1,311 $372 $1,087
1992 $302 $1,265 $385 $1,039
1991 $365 $1,239 $382 $1,091
1990 $371 $1,186 $354 $956
1989 $293.3 - $314 -
1988 $326 - $307 -
1987 $324 - $280.7 -
1986 $285.8 - $250 -
1985 $230.4 - $190.4 -
1984 $238.6 - $169.1 -
1983 $256 - $186.3 -
1982 $305 - $213.8 -
1981 $320 - $290.5 -
1980 $358 - $359 -
1979 $311 - $216.3 -
1978 $249.8 - $169.1 -
1977 $207 - $148.1 -
1976 $197.7 - $134.9 -
1975 $196.5 - $121.5 -
1974 $164.9 - $80.2 -
1973 $153.6 - $85.4 -
1972 $127.9 - $75.1 -
1971 $106.9 - $62 -
1970 $108.8 - $57.3 -
1969 $110.3 - $55 -
1968 $111.2 - $56.5 -
1967 $106.6 - $46 -
1966 $107.6 - - -
1965 $105.1 - - -
1964 $99.8 - - -
1963 $95.7 - - -
1962 $90.8 - - -
1961 $92.1 - - -
1960 $89.9 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/benin/mali | CC BY

Benin's GDP per capita is $1,485, ranking 162/197, compared to $1,095 in Mali, ranking 173/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Mali ranks 174th at $3,315.

Economic indicators

Benin Mali
Gross domestic product
$21.5B
2024
$26.8B
2024
GDP rank
126/197
2024
113/197
2024
GDP growth
7.45%
2023-2024
4.99%
2023-2024
GDP per capita
$1,485
2024
$1,095
2024
GDP per capita rank
162/197
2024
173/197
2024
GDP per capita, PPP
$4,435
2024
$3,315
2024
GDP per capita PPP rank
162/197
2024
174/197
2024
Government debt
$11.5B
2024
$13.9B
2024
Debt-to-GDP ratio
53.4%
2024
51.7%
2024
Government debt per person
$794
2024
$566
2024
Government debt per person rank
151/185
2024
161/185
2024
Average annual personal income after taxes
$1,091
2026
$1,463
2026
Income share by richest 10%
27.2%
2021
28.3%
2021
Income share by poorest 10%
3.1%
2021
3.2%
2021
Government expenditure, % of GDP
18.1%
2024
24.7%
2024
Consumer prices inflation
1.2%
2023-2024
3.2%
2023-2024
Unemployment rate
1.69%
2022
5.45%
2023
Population
15272847
26143152

Spending and national debt comparison by year

Benin
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Benin Mali
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 24.7% 51.7%
2023 19.2% 54.9% 24.8% 51.9%
2022 19.9% 54.2% 24.4% 50.3%
2021 19.9% 50.3% 26.9% 51.6%
2020 19.1% 46.1% 26.1% 47.3%
2019 14.3% 40.4% 23.1% 40.7%
2018 16.5% 40.8% 20.3% 37.5%
2017 17.7% 39.4% 22.9% 38.2%
2016 15.4% 35.9% 22.3% 37.2%
2015 18.2% 30.9% 20.9% 30.7%
2014 14.2% 22.3% 20% 26.9%
2013 14.9% 18.5% 19.8% 26.4%
2012 14.2% 19.5% 15.5% 25.4%
2011 14.7% 21.9% 20.6% 24%
2010 14.1% 21% 20.3% 25.3%
2009 17% 18.7% 22.8% 21.9%
2008 14.5% 18.3% 18.8% 20.1%
2007 15.8% 14.3% 21.5% 18.5%
2006 13% 8.37% 22.1% 18.1%
2005 14.1% 27% 21.6% 46.6%
2004 13.4% 21.5% 21.8% 42.4%
2003 13.7% 23.4% 20.8% 44.1%
2002 15.3% 30.8% 19.9% 42.6%
2001 15.4% 38% 18.3% 77.5%
2000 15.6% 39.6% 19.4% 90.5%
1999 10.7% 39.4% - -
1998 10.9% 39.2% - -
1997 12.7% 42.9% - -
1996 13.3% 43.4% - -
1995 14.8% 48.3% - -
1994 13.6% 64.6% - -
1993 12% 41.9% - -
1992 13.5% 41.8% - -
1991 12.6% 44% - -
1990 13.3% 45.3% - -
1989 17.1% 50.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989–1997, retrieved 2026-02-20).

GeoRank.org/economy/benin/mali | CC BY

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Mali spent $6.61B, or 24.7% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 51.7% in Mali, ranking 99/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Mali
1x
Year Deficit/surplus, % of GDP
Benin Mali
2024 -3.06% -2.57%
2023 -4.13% -3.57%
2022 -5.55% -4.75%
2021 -5.71% -4.91%
2020 -4.68% -5.42%
2019 -0.53% -1.68%
2018 -2.96% -4.74%
2017 -4.18% -2.86%
2016 -4.29% -3.95%
2015 -5.55% -1.82%
2014 -1.65% -2.89%
2013 -1.37% -2.37%
2012 -0.22% -0.96%
2011 -0.98% -3.42%
2010 -0.28% -2.57%
2009 -2.24% -3.71%
2008 -0.04% -1.97%
2007 0.22% -2.78%
2006 -0.15% 27.8%
2005 -1.52% -2.76%
2004 -0.7% -2.36%
2003 -1.07% -1.19%
2002 -3.33% -3.09%
2001 -3.27% -2.8%
2000 -3.69% -2.64%
1999 1.94% -
1998 1.83% -
1997 0.47% -
1996 -0.11% -
1995 -1.91% -
1994 -1.57% -
1993 -0.41% -
1992 -1.98% -
1991 -2.25% -
1990 -2.37% -
1989 0.89% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1989, retrieved 2026-02-20).

GeoRank.org/economy/benin/mali | CC BY

In 2024, Benin's government deficit, the difference between spending and revenue, was $658M, equivalent to 3.06% of GDP. This compares to Mali's deficit of $687M, or 2.57% of GDP.

Over the past 25 years, Benin recorded a fiscal deficit in 24 of those years, while Mali ran a deficit in 24 years. On average, Benin posted an annual deficit equal to 2.44% of GDP, compared to deficit of 1.76% of GDP for Mali.

Inflation comparison by year

Inflation
Benin

Mali
1x
Year Consumer prices inflation
Benin Mali
2024 1.2% 3.2%
2023 2.7% 2.1%
2022 1.4% 9.7%
2021 1.7% 3.8%
2020 3% 0.5%
2019 -0.9% -3%
2018 0.8% 1.9%
2017 1.8% 2.4%
2016 -0.8% -1.8%
2015 0.2% 1.4%
2014 -0.6% 0.9%
2013 0.4% -0.6%
2012 6.7% 5.3%
2011 2.7% 3%
2010 2.1% 1.2%
2009 0.9% 2.4%
2008 7.4% 9.2%
2007 1.3% 1.4%
2006 3.8% 1.6%
2005 5.4% 6.4%
2004 0.9% -3.1%
2003 1.5% -1.3%
2002 2.4% 5%
2001 4% 5.2%
2000 4.2% -0.8%
1999 0.3% -1.2%
1998 5.8% 4.1%
1997 3.8% -0.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/benin/mali | CC BY

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 2.08% in Mali. In 2024, inflation was 1.2% in Benin and 3.2% in Mali.

Top exports between countries

Benin
Export category Export value
Raw agricultural goods $8.5M
Processed food, beverages & tobacco $1.24M
Raw materials & minerals $589K
Metals $400K
Machinery & equipment $223K
Chemicals & pharma $117K
Wood & paper products $93K
Textiles & consumer goods $62K
Animal & marine products $8K
Mali
Export category Export value
Textiles & consumer goods $347K
Raw materials & minerals $313K
Chemicals & pharma $275K
Metals $117K
Processed food, beverages & tobacco $65K
Machinery & equipment $42K
Raw agricultural goods $20K
Animal & marine products $8K
Miscellaneous $1K

Balance of trade

Benin Mali
Current account balance
-$1.61B
2023
-$1.61B
2023
Current account balance ranking
135/190
2023
136/190
2023
Current account balance, % of GDP
-8.18%
2023
-6.49%
2023
Goods imports
$4.65B
2023
$5.73B
2023
Goods exports
$4.05B
2023
$5.65B
2023
Service imports
$1.54B
2023
$2.34B
2023
Service exports
$461M
2023
$475M
2023
Imports of goods and services, % of GDP
21.8%
2024
27.3%
2024
Exports of goods and services, % of GDP
18.8%
2024
22.6%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Benin Mali
Economic freedom 60 52.1
Economic freedom ranking 96/197 150/197
Property rights 46.4 13.8
Government integrity 44.1 23.2
Judicial effectiveness 47.7 23.3
Tax burden 69.4 67.9
Government spending 89.1 81.8
Fiscal health 65.4 73.6
Business freedom 53.3 40.8
Labor freedom 60.2 54.1
Monetary freedom 82.1 78.2
Trade freedom 62.6 64
Investment freedom 50 65
Financial freedom 50 40

Economic freedom comparison by year

Benin
Mali
1x
Year Economic freedom index
Benin Mali
2026 60 52.1
2025 58.5 52.6
2024 57.7 52.5
2023 59.8 54.5
2022 61 55.9
2021 59.6 55.6
2020 55.2 55.9
2019 55.3 58.1
2018 56.7 57.6
2017 59.2 58.6
2016 59.3 56.5
2015 58.8 56.4
2014 57.1 55.5
2013 57.6 56.4
2012 55.7 55.8
2011 56 56.3
2010 55.4 55.6
2009 55.4 55.6
2008 55.2 55.6
2007 55.1 54.7
2006 54 54.1
2005 52.3 57.3
2004 54.6 56.6
2003 54.9 58.6
2002 57.3 61.1
2001 60.1 60.1
2000 61.5 60.3
1999 60.6 58.4
1998 61.7 57.3
1997 61.3 56.4
1996 54.5 57
1995 - 52.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/benin/mali | CC BY

The Economic Freedom Index for Benin is 60, ranking 96/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Benin Mali
Services, % of GDP
48.9%
2024
36.3%
2024
Industry, % of GDP
17.4%
2024
23.5%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
33.3%
2024
GNI, Atlas method
$20.6B
2024
$25.2B
2024
GNI per capita, PPP
$4,390
2024
$3,230
2024
Net foreign direct investment
-$430M
2023
-$673M
2023
Net inflows of foreign direct investment
$543M
2024
$921M
2024
Net outflows of foreign direct investment
$60.3M
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
1.41%
2024
Poverty at national poverty lines
36.2%
2021
43.3%
2024
Gross capital formation, % of GDP
35.1%
2024
19.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/benin/mali | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1989–1997, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.