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Economy of Benin vs Saint Lucia compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $2.55B for Saint Lucia, ranking 126/197 and 173/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $1.97B (77.2% of GDP) in Saint Lucia.

Benin vs Saint Lucia GDP by year

Benin
Saint Lucia
1x
Year GDP, current $
Benin Saint Lucia
2024 $21,482,643,706 $2,549,062,963
2023 $19,673,291,004 $2,430,166,667
2022 $17,425,405,091 $2,342,714,815
2021 $17,687,623,530 $1,867,185,185
2020 $15,686,741,884 $1,499,274,074
2019 $14,391,686,313 $2,095,344,444
2018 $14,262,408,090 $2,060,955,556
2017 $12,701,655,837 $1,998,503,704
2016 $11,821,065,853 $1,868,544,444
2015 $11,388,160,997 $1,807,640,741
2014 $13,284,527,847 $1,749,185,185
2013 $12,517,845,124 $1,660,392,593
2012 $11,141,358,116 $1,598,207,407
2011 $10,693,321,364 $1,568,370,370
2010 $9,535,345,016 $1,482,385,185
2009 $9,738,626,517 $1,401,507,889
2008 $9,787,734,526 $1,437,731,111
2007 $8,169,048,383 $1,336,088,815
2006 $7,034,111,315 $1,268,319,185
2005 $6,567,654,954 $1,135,555,556
2004 $6,190,270,380 $1,066,666,667
2003 $5,349,258,094 $987,407,407
2002 $4,194,342,686 $900,000,000
2001 $3,666,222,635 $892,592,593
2000 $3,519,991,440 $932,592,593
1999 $3,677,393,999 $921,851,852
1998 $2,455,092,686 $877,407,407
1997 $2,268,301,646 $805,925,926
1996 $2,361,116,449 $788,888,889
1995 $2,169,627,138 $762,962,963
1994 $1,598,075,944 $713,703,704
1993 $2,274,558,083 $684,814,815
1992 $1,695,315,306 $674,074,074
1991 $1,986,437,797 $613,703,704
1990 $1,959,965,330 $579,629,630
1989 $1,502,294,416 $486,666,667
1988 $1,620,246,084 $429,629,630
1987 $1,562,412,228 $375,555,556
1986 $1,336,102,025 $340,000,000
1985 $1,045,712,789 $284,444,444
1984 $1,051,134,009 $251,481,481
1983 $1,095,348,199 $197,037,037
1982 $1,267,778,670 $183,333,333
1981 $1,291,120,188 $194,444,444
1980 $1,405,251,847 $170,370,370
1979 $1,186,231,020 -
1978 $928,843,469 -
1977 $750,049,779 -
1976 $698,408,262 -
1975 $676,870,140 -
1974 $554,654,861 -
1973 $504,376,074 -
1972 $410,331,857 -
1971 $335,073,028 -
1970 $333,627,713 -
1969 $330,748,245 -
1968 $326,323,105 -
1967 $306,221,953 -
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/saint-lucia | CC BY

GDP per capita in Benin vs Saint Lucia by year

Benin
GDP per capita

GDP per capita, PPP
Saint Lucia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Saint Lucia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $14,182 $27,567
2023 $1,394 $4,130 $13,555 $25,975
2022 $1,266 $3,844 $13,104 $24,599
2021 $1,319 $3,464 $10,459 $19,101
2020 $1,200 $3,245 $8,411 $14,912
2019 $1,131 $3,149 $11,794 $18,710
2018 $1,152 $2,965 $11,643 $17,433
2017 $1,055 $2,886 $11,333 $16,131
2016 $1,011 $2,842 $10,638 $15,307
2015 $1,002 $2,725 $10,335 $14,353
2014 $1,204 $2,670 $10,045 $14,403
2013 $1,169 $2,512 $9,577 $14,010
2012 $1,072 $2,346 $9,260 $13,443
2011 $1,059 $2,265 $9,129 $13,471
2010 $973 $2,220 $8,674 $12,718
2009 $1,024 $2,213 $8,251 $12,600
2008 $1,061 $2,215 $8,517 $12,969
2007 $912 $2,136 $7,964 $12,199
2006 $809 $2,021 $7,611 $11,758
2005 $779 $1,946 $6,863 $10,818
2004 $759 $1,915 $6,495 $10,610
2003 $676 $1,842 $6,059 $9,707
2002 $546 $1,800 $5,568 $9,205
2001 $492 $1,746 $5,570 $9,106
2000 $487 $1,671 $5,880 $9,314
1999 $525 $1,592 $5,883 $9,214
1998 $362 $1,537 $5,673 $8,965
1997 $345 $1,508 $5,282 $8,456
1996 $369 $1,444 $5,244 $8,490
1995 $348 $1,395 $5,148 $8,222
1994 $262.1 $1,316 $4,892 $8,041
1993 $387 $1,311 $4,765 $7,865
1992 $302 $1,265 $4,760 $7,753
1991 $365 $1,239 $4,399 $7,127
1990 $371 $1,186 $4,205 $6,951
1989 $293.3 - $3,565 -
1988 $326 - $3,182 -
1987 $324 - $2,819 -
1986 $285.8 - $2,591 -
1985 $230.4 - $2,202 -
1984 $238.6 - $1,979 -
1983 $256 - $1,576 -
1982 $305 - $1,489 -
1981 $320 - $1,605 -
1980 $358 - $1,428 -
1979 $311 - - -
1978 $249.8 - - -
1977 $207 - - -
1976 $197.7 - - -
1975 $196.5 - - -
1974 $164.9 - - -
1973 $153.6 - - -
1972 $127.9 - - -
1971 $106.9 - - -
1970 $108.8 - - -
1969 $110.3 - - -
1968 $111.2 - - -
1967 $106.6 - - -
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/saint-lucia | CC BY

Benin's GDP per capita is $1,485, ranking 162/197, compared to $14,182 in Saint Lucia, ranking 70/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Saint Lucia ranks 75th at $27,567.

Economic indicators

Benin Saint Lucia
Gross domestic product
$21.5B
2024
$2.55B
2024
GDP rank
126/197
2024
173/197
2024
GDP growth
7.45%
2023-2024
3.89%
2023-2024
GDP per capita
$1,485
2024
$14,182
2024
GDP per capita rank
162/197
2024
70/197
2024
GDP per capita, PPP
$4,435
2024
$27,567
2024
GDP per capita PPP rank
162/197
2024
75/197
2024
Government debt
$11.5B
2024
$1.97B
2024
Debt-to-GDP ratio
53.4%
2024
77.2%
2024
Government debt per person
$794
2024
$10,952
2024
Government debt per person rank
151/185
2024
52/185
2024
Average annual personal income after taxes
$1,091
2026
$10,412
2026
Income share by richest 10%
27.2%
2021
34.1%
2015
Income share by poorest 10%
3.1%
2021
2.1%
2015
Government expenditure, % of GDP
18.1%
2024
24.5%
2024
Consumer prices inflation
1.2%
2023-2024
-0.11%
2023-2024
Unemployment rate
1.69%
2022
10.1%
2024
Population
15272847
180638

Spending and national debt comparison by year

Benin
Spending

Debt
Saint Lucia
Spending

Debt
1x
Year % of GDP
Benin Saint Lucia
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 24.5% 77.2%
2023 19.2% 54.9% 25.6% 76.6%
2022 19.9% 54.2% 23% 74.4%
2021 19.9% 50.3% 27.4% 87%
2020 19.1% 46.1% 34.9% 100%
2019 14.3% 40.4% 25.1% 62.1%
2018 16.5% 40.8% 23.2% 60.5%
2017 17.7% 39.4% 23.3% 60.4%
2016 15.4% 35.9% 23% 61.3%
2015 18.2% 30.9% 23.7% 61.1%
2014 14.2% 22.3% 23.6% 62.4%
2013 14.9% 18.5% 25.4% 62.1%
2012 14.2% 19.5% 28% 60.8%
2011 14.7% 21.9% 27% 55.2%
2010 14.1% 21% 26% 53%
2009 17% 18.7% 24.5% 51%
2008 14.5% 18.3% 22.2% 46.7%
2007 15.8% 14.3% 22.6% 49.1%
2006 13% 8.37% 24.7% 48.6%
2005 14.1% 27% 26% 51.9%
2004 13.4% 21.5% 22.9% 49.6%
2003 13.7% 23.4% 22.9% 45.6%
2002 15.3% 30.8% 23.6% 48.8%
2001 15.4% 38% 22.1% 38.1%
2000 15.6% 39.6% 20.7% 32.5%
1999 10.7% 39.4% 20.9% 28.9%
1998 10.9% 39.2% 18.8% 29.4%
1997 12.7% 42.9% 19.5% 27.2%
1996 13.3% 43.4% 18.9% 24.1%
1995 14.8% 48.3% 19.2% 22.9%
1994 13.6% 64.6% 19.1% 23.8%
1993 12% 41.9% 21.8% 22.9%
1992 13.5% 41.8% 18.4% 22.2%
1991 12.6% 44% 18.4% 19.8%
1990 13.3% 45.3% 16.7% 17%
1989 17.1% 50.3% 19% 18.1%
1988 - - 18.2% 18.6%
1987 - - 19.9% 19.6%
1986 - - 21.1% 17.2%
1985 - - 20.4% 17.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1997, retrieved 2026-02-20).

GeoRank.org/economy/benin/saint-lucia | CC BY

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Saint Lucia spent $625M, or 24.5% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 77.2% in Saint Lucia, ranking 99/185 and 46/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Saint Lucia
1x
Year Deficit/surplus, % of GDP
Benin Saint Lucia
2024 -3.06% -2.13%
2023 -4.13% -3.09%
2022 -5.55% -1.67%
2021 -5.71% -5.1%
2020 -4.68% -12%
2019 -0.53% -3.51%
2018 -2.96% -1.03%
2017 -4.18% -1.14%
2016 -4.29% -0.79%
2015 -5.55% -2.35%
2014 -1.65% -3.08%
2013 -1.37% -4.84%
2012 -0.22% -7.62%
2011 -0.98% -5.38%
2010 -0.28% -4.17%
2009 -2.24% -2.67%
2008 -0.04% -0.72%
2007 0.22% -1.62%
2006 -0.15% -5.07%
2005 -1.52% -6.18%
2004 -0.7% -2.63%
2003 -1.07% -3.23%
2002 -3.33% -3.1%
2001 -3.27% -3.08%
2000 -3.69% -1.16%
1999 1.94% 1.62%
1998 1.83% 2.25%
1997 0.47% -1.13%
1996 -0.11% -0.58%
1995 -1.91% -0.13%
1994 -1.57% -0.02%
1993 -0.41% -0.26%
1992 -1.98% -0.66%
1991 -2.25% -0.43%
1990 -2.37% 0.29%
1989 0.89% 0.89%
1988 - 2.02%
1987 - 0.56%
1986 - -1.61%
1985 - -1.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/benin/saint-lucia | 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 Saint Lucia's deficit of $54.2M, or 2.13% of GDP.

Over the past 36 years, Benin recorded a fiscal deficit in 31 of those years, while Saint Lucia ran a deficit in 32 years. On average, Benin posted an annual deficit equal to 1.84% of GDP, compared to deficit of 2.38% of GDP for Saint Lucia.

Inflation comparison by year

Inflation
Benin

Saint Lucia
1x
Year Consumer prices inflation
Benin Saint Lucia
2024 1.2% -0.11%
2023 2.7% 4.07%
2022 1.4% 6.38%
2021 1.7% 2.41%
2020 3% -1.76%
2019 -0.9% 0.54%
2018 0.8% 1.94%
2017 1.8% 0.1%
2016 -0.8% -3.08%
2015 0.2% -0.98%
2014 -0.6% 3.52%
2013 0.4% 1.47%
2012 6.7% 4.18%
2011 2.7% 2.77%
2010 2.1% 3.25%
2009 0.9% -0.16%
2008 7.4% 5.55%
2007 1.3% 2.82%
2006 3.8% 2.4%
2005 5.4% 3.9%
2004 0.9% 1.46%
2003 1.5% 1.03%
2002 2.4% -0.26%
2001 4% 5.31%
2000 4.2% 3.71%
1999 0.3% 3.5%
1998 5.8% 3.2%
1997 3.8% -0.006%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/benin/saint-lucia | CC BY

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 2.04% in Saint Lucia. In 2024, inflation was 1.2% in Benin and -0.11% in Saint Lucia.

Balance of trade

Benin Saint Lucia
Current account balance
-$1.61B
2023
-$64.1M
2024
Current account balance ranking
135/190
2023
86/190
2024
Current account balance, % of GDP
-8.18%
2023
-2.52%
2024
Goods imports
$4.65B
2023
$848M
2024
Goods exports
$4.05B
2023
$137M
2024
Service imports
$1.54B
2023
$598M
2024
Service exports
$461M
2023
$1.46B
2024
Imports of goods and services, % of GDP
21.8%
2024
n/a
Exports of goods and services, % of GDP
18.8%
2024
19%
2025

Economic freedom indices

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

Benin Saint Lucia
Economic freedom 60 67.5
Economic freedom ranking 96/197 57/197
Property rights 46.4 64.3
Government integrity 44.1 59.7
Judicial effectiveness 47.7 77.3
Tax burden 69.4 77.7
Government spending 89.1 82.6
Fiscal health 65.4 80
Business freedom 53.3 71.9
Labor freedom 60.2 65.2
Monetary freedom 82.1 81
Trade freedom 62.6 60
Investment freedom 50 50
Financial freedom 50 40

Economic freedom comparison by year

Benin
Saint Lucia
1x
Year Economic freedom index
Benin Saint Lucia
2026 60 67.5
2025 58.5 67
2024 57.7 62.2
2023 59.8 60.7
2022 61 64.3
2021 59.6 67.5
2020 55.2 68.2
2019 55.3 68.7
2018 56.7 67.6
2017 59.2 65
2016 59.3 70
2015 58.8 70.2
2014 57.1 70.7
2013 57.6 70.4
2012 55.7 71.3
2011 56 70.8
2010 55.4 70.5
2009 55.4 68.8
2008 55.2 -
2007 55.1 -
2006 54 -
2005 52.3 -
2004 54.6 -
2003 54.9 -
2002 57.3 -
2001 60.1 -
2000 61.5 -
1999 60.6 -
1998 61.7 -
1997 61.3 -
1996 54.5 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/benin/saint-lucia | CC BY

The Economic Freedom Index for Benin is 60, ranking 96/197, compared to 67.5 for Saint Lucia, ranking 57/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Benin Saint Lucia
Services, % of GDP
48.9%
2024
75.9%
2024
Industry, % of GDP
17.4%
2024
9.75%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
1.13%
2024
GNI, Atlas method
$20.6B
2024
$2.27B
2024
GNI per capita, PPP
$4,390
2024
$24,840
2024
Total reserves including gold n/a
$406M
2024
Total reserves ranking n/a
162/177
2024
Net foreign direct investment
-$430M
2023
-$187M
2024
Net inflows of foreign direct investment
$543M
2024
$187M
2024
Net outflows of foreign direct investment
$60.3M
2024
-$350K
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
3.42%
2024
Poverty at national poverty lines
36.2%
2021
25%
2016
Gross capital formation, % of GDP
35.1%
2024
n/a

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/saint-lucia | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–1997, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.