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Economy of Benin vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $1.24T for Saudi Arabia, ranking 126/197 and 18/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Benin vs Saudi Arabia GDP by year

Benin
Saudi Arabia
1x
Year GDP, current $
Benin Saudi Arabia
2024 $21,482,643,706 $1,239,804,533,333
2023 $19,673,291,004 $1,218,584,533,333
2022 $17,425,405,091 $1,239,075,200,000
2021 $17,687,623,530 $982,661,066,667
2020 $15,686,741,884 $767,951,200,000
2019 $14,391,686,313 $888,890,133,333
2018 $14,262,408,090 $886,564,800,000
2017 $12,701,655,837 $741,266,133,333
2016 $11,821,065,853 $689,279,466,667
2015 $11,388,160,997 $693,414,400,000
2014 $13,284,527,847 $787,153,066,667
2013 $12,517,845,124 $769,755,733,333
2012 $11,141,358,116 $751,921,333,333
2011 $10,693,321,364 $680,660,800,000
2010 $9,535,345,016 $528,207,466,667
2009 $9,738,626,517 $429,097,866,667
2008 $9,787,734,526 $519,796,800,000
2007 $8,169,048,383 $415,964,509,673
2006 $7,034,111,315 $376,900,133,511
2005 $6,567,654,954 $328,459,608,764
2004 $6,190,270,380 $258,742,133,333
2003 $5,349,258,094 $215,807,733,333
2002 $4,194,342,686 $189,605,866,667
2001 $3,666,222,635 $184,137,600,000
2000 $3,519,991,440 $189,514,933,333
1999 $3,677,393,999 $161,717,066,667
1998 $2,455,092,686 $146,775,466,667
1997 $2,268,301,646 $165,963,684,913
1996 $2,361,116,449 $158,662,483,311
1995 $2,169,627,138 $143,343,124,166
1994 $1,598,075,944 $135,174,899,866
1993 $2,274,558,083 $132,967,957,276
1992 $1,695,315,306 $137,087,850,467
1991 $1,986,437,797 $132,223,230,975
1990 $1,959,965,330 $117,630,173,565
1989 $1,502,294,416 $95,344,459,279
1988 $1,620,246,084 $88,256,074,766
1987 $1,562,412,228 $85,695,861,148
1986 $1,336,102,025 $86,961,922,765
1985 $1,045,712,789 $103,897,846,494
1984 $1,051,134,009 $119,624,858,116
1983 $1,095,348,199 $129,171,635,311
1982 $1,267,778,670 $153,240,313,858
1981 $1,291,120,188 $184,291,360,139
1980 $1,405,251,847 $164,539,660,725
1979 $1,186,231,020 $111,858,444,786
1978 $928,843,469 $80,266,516,687
1977 $750,049,779 $74,188,986,586
1976 $698,408,262 $64,005,665,722
1975 $676,870,140 $46,773,208,643
1974 $554,654,861 $45,412,957,746
1973 $504,376,074 $14,947,435,499
1972 $410,331,857 $9,664,267,087
1971 $335,073,028 $7,184,806,909
1970 $333,627,713 $5,377,333,333
1969 $330,748,245 $4,485,777,644
1968 $326,323,105 $4,187,777,711
1967 $306,221,953 $3,257,022,223
1966 $302,925,235 $2,920,555,557
1965 $289,908,680 $2,647,955,558
1964 $269,819,006 $2,371,808,713
1963 $253,927,697 $2,207,393,172
1962 $236,434,954 $2,130,606,532
1961 $235,668,221 $1,920,811,284
1960 $226,195,578 $1,748,124,064

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

GeoRank.org/economy/benin/saudi-arabia | CC BY

GDP per capita in Benin vs Saudi Arabia by year

Benin
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $35,122 $71,375
2023 $1,394 $4,130 $36,157 $71,565
2022 $1,266 $3,844 $38,510 $71,968
2021 $1,319 $3,464 $31,921 $62,690
2020 $1,200 $3,245 $24,339 $47,518
2019 $1,131 $3,149 $29,567 $59,560
2018 $1,152 $2,965 $29,360 $59,378
2017 $1,055 $2,886 $23,929 $53,120
2016 $1,011 $2,842 $22,268 $49,937
2015 $1,002 $2,725 $23,256 $53,931
2014 $1,204 $2,670 $27,805 $62,578
2013 $1,169 $2,512 $27,865 $62,203
2012 $1,072 $2,346 $28,733 $65,034
2011 $1,059 $2,265 $27,127 $64,125
2010 $973 $2,220 $22,028 $58,829
2009 $1,024 $2,213 $17,718 $54,787
2008 $1,061 $2,215 $22,320 $57,236
2007 $912 $2,136 $18,596 $55,030
2006 $809 $2,021 $17,564 $54,639
2005 $779 $1,946 $15,976 $53,548
2004 $759 $1,915 $13,154 $51,225
2003 $676 $1,842 $11,487 $48,078
2002 $546 $1,800 $10,586 $45,466
2001 $492 $1,746 $10,805 $47,381
2000 $487 $1,671 $11,715 $48,644
1999 $525 $1,592 $10,452 $47,495
1998 $362 $1,537 $9,836 $48,867
1997 $345 $1,508 $11,545 $48,796
1996 $369 $1,444 $11,472 $48,569
1995 $348 $1,395 $10,786 $48,052
1994 $262.1 $1,316 $10,602 $48,904
1993 $387 $1,311 $10,885 $49,503
1992 $302 $1,265 $11,730 $50,355
1991 $365 $1,239 $11,847 $49,295
1990 $371 $1,186 $11,055 $46,214
1989 $293.3 - $9,414 -
1988 $326 - $9,165 -
1987 $324 - $9,386 -
1986 $285.8 - $10,078 -
1985 $230.4 - $12,745 -
1984 $238.6 - $15,541 -
1983 $256 - $17,810 -
1982 $305 - $22,454 -
1981 $320 - $28,703 -
1980 $358 - $27,206 -
1979 $311 - $19,612 -
1978 $249.8 - $14,914 -
1977 $207 - $14,595 -
1976 $197.7 - $13,313 -
1975 $196.5 - $10,266 -
1974 $164.9 - $10,503 -
1973 $153.6 - $3,640 -
1972 $127.9 - $2,474 -
1971 $106.9 - $1,929 -
1970 $108.8 - $1,509 -
1969 $110.3 - $1,313 -
1968 $111.2 - $1,276 -
1967 $106.6 - $1,032 -
1966 $107.6 - $961 -
1965 $105.1 - $904 -
1964 $99.8 - $840 -
1963 $95.7 - $812 -
1962 $90.8 - $813 -
1961 $92.1 - $760 -
1960 $89.9 - $718 -

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

GeoRank.org/economy/benin/saudi-arabia | CC BY

Benin's GDP per capita is $1,485, ranking 162/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Benin Saudi Arabia
Gross domestic product
$21.5B
2024
$1.24T
2024
GDP rank
126/197
2024
18/197
2024
GDP growth
7.45%
2023-2024
2%
2023-2024
GDP per capita
$1,485
2024
$35,122
2024
GDP per capita rank
162/197
2024
33/197
2024
GDP per capita, PPP
$4,435
2024
$71,375
2024
GDP per capita PPP rank
162/197
2024
24/197
2024
Government debt
$11.5B
2024
$324B
2024
Debt-to-GDP ratio
53.4%
2024
26.2%
2024
Government debt per person
$794
2024
$9,185
2024
Government debt per person rank
151/185
2024
58/185
2024
Average annual personal income after taxes
$1,091
2026
$23,076
2026
Market capitalization of domestic companies n/a
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires n/a
15
2025
Income share by richest 10%
27.2%
2021
n/a
Income share by poorest 10%
3.1%
2021
n/a
Government expenditure, % of GDP
18.1%
2024
29.6%
2024
Consumer prices inflation
1.2%
2023-2024
1.69%
2023-2024
Central bank interest rate n/a
4.25%
2025
Unemployment rate
1.69%
2022
3.52%
2024
Population
15272847
36734925

Spending and national debt comparison by year

Benin
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Benin Saudi Arabia
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 29.6% 26.2%
2023 19.2% 54.9% 28.3% 23%
2022 19.9% 54.2% 25.3% 21.3%
2021 19.9% 50.3% 28.2% 25.5%
2020 19.1% 46.1% 37.4% 29.7%
2019 14.3% 40.4% 31.8% 20.3%
2018 16.5% 40.8% 32.4% 16.8%
2017 17.7% 39.4% 30.9% 15.9%
2016 15.4% 35.9% 33.3% 12.2%
2015 18.2% 30.9% 38.5% 5.47%
2014 14.2% 22.3% 38.6% 1.5%
2013 14.9% 18.5% 34.5% 2.08%
2012 14.2% 19.5% 32.5% 2.97%
2011 14.7% 21.9% 32.4% 5.31%
2010 14.1% 21% 33% 8.43%
2009 17% 18.7% 37.1% 14%
2008 14.5% 18.3% 26.7% 12.1%
2007 15.8% 14.3% 29.5% 17.1%
2006 13% 8.37% 27.3% 25.8%
2005 14.1% 27% 28.2% 37.3%
2004 13.4% 21.5% 31.1% 62.9%
2003 13.7% 23.4% 33.1% 81.6%
2002 15.3% 30.8% 35.9% 96.4%
2001 15.4% 38% 36.9% 93.1%
2000 15.6% 39.6% 33.1% 86.7%
1999 10.7% 39.4% 30.3% 103%
1998 10.9% 39.2% 34.5% 101.5%
1997 12.7% 42.9% 35.6% 76.7%
1996 13.3% 43.4% 33.3% 75.2%
1995 14.8% 48.3% 32.4% 74.2%
1994 13.6% 64.6% 33.8% 67.9%
1993 12% 41.9% 37.7% 58.6%
1992 13.5% 41.8% 41.2% 47.8%
1991 12.6% 44% 34.9% 39.4%
1990 13.3% 45.3% 39.3% -
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/saudi-arabia | CC BY

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 26.2% in Saudi Arabia, ranking 99/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Benin Saudi Arabia
2024 -3.06% -2.49%
2023 -4.13% -1.77%
2022 -5.55% 2.24%
2021 -5.71% -1.99%
2020 -4.68% -10.2%
2019 -0.53% -3.96%
2018 -2.96% -5.21%
2017 -4.18% -8.57%
2016 -4.29% -13.2%
2015 -5.55% -14.9%
2014 -1.65% -3.4%
2013 -1.37% 5.47%
2012 -0.22% 11.7%
2011 -0.98% 11.4%
2010 -0.28% 4.39%
2009 -2.24% -5.38%
2008 -0.04% 29.8%
2007 0.22% 11.8%
2006 -0.15% 20.8%
2005 -1.52% 18%
2004 -0.7% 9.72%
2003 -1.07% 1.2%
2002 -3.33% -5.91%
2001 -3.27% -3.91%
2000 -3.69% 3.18%
1999 1.94% -5.99%
1998 1.83% -8.88%
1997 0.47% -2.51%
1996 -0.11% -3.25%
1995 -1.91% -5.12%
1994 -1.57% -8.31%
1993 -0.41% -9.33%
1992 -1.98% -8.12%
1991 -2.25% -3.28%
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/saudi-arabia | 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 Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 34 years, Benin recorded a fiscal deficit in 30 of those years, while Saudi Arabia ran a deficit in 22 years. On average, Benin posted an annual deficit equal to 1.91% of GDP, compared to deficit of 0.18% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Benin

Saudi Arabia
1x
Year Consumer prices inflation
Benin Saudi Arabia
2024 1.2% 1.69%
2023 2.7% 2.33%
2022 1.4% 2.47%
2021 1.7% 3.06%
2020 3% 3.37%
2019 -0.9% -1.19%
2018 0.8% 2.47%
2017 1.8% -0.83%
2016 -0.8% 2.05%
2015 0.2% 1.22%
2014 -0.6% 2.24%
2013 0.4% 3.51%
2012 6.7% 2.87%
2011 2.7% 5.83%
2010 2.1% 5.34%
2009 0.9% 5.06%
2008 7.4% 9.87%
2007 1.3% 4.17%
2006 3.8% 2.21%
2005 5.4% 0.48%
2004 0.9% 0.52%
2003 1.5% 0.61%
2002 2.4% 0.25%
2001 4% -1.12%
2000 4.2% -1.12%
1999 0.3% -1.33%
1998 5.8% -0.37%
1997 3.8% 0.06%

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/saudi-arabia | CC BY

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 1.2% in Benin and 1.69% in Saudi Arabia.

Top exports between countries

Benin
Export category Export value
Raw agricultural goods $1.87M
Raw materials & minerals $736K
Machinery & equipment $8K
Metals $3K
Saudi Arabia
Export category Export value
Raw materials & minerals $1.58M
Machinery & equipment $463K
Metals $393K
Chemicals & pharma $329K
Textiles & consumer goods $321K
Raw agricultural goods $128K
Animal & marine products $46K
Miscellaneous $22K
Wood & paper products $12K
Processed food, beverages & tobacco $11K

Balance of trade

Benin Saudi Arabia
Current account balance
-$1.61B
2023
-$16.3B
2024
Current account balance ranking
135/190
2023
180/190
2024
Current account balance, % of GDP
-8.18%
2023
-1.31%
2024
Goods imports
$4.65B
2023
$214B
2024
Goods exports
$4.05B
2023
$306B
2024
Service imports
$1.54B
2023
$125B
2024
Service exports
$461M
2023
$62.8B
2024
Imports of goods and services, % of GDP
21.8%
2024
25.6%
2024
Exports of goods and services, % of GDP
18.8%
2024
29.1%
2024

Economic freedom indices

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

Benin Saudi Arabia
Economic freedom 60 65.4
Economic freedom ranking 96/197 65/197
Property rights 46.4 51.4
Government integrity 44.1 52.7
Judicial effectiveness 47.7 38.2
Tax burden 69.4 99.2
Government spending 89.1 77
Fiscal health 65.4 97.9
Business freedom 53.3 71.2
Labor freedom 60.2 41.8
Monetary freedom 82.1 81.2
Trade freedom 62.6 73.8
Investment freedom 50 50
Financial freedom 50 50

Economic freedom comparison by year

Benin
Saudi Arabia
1x
Year Economic freedom index
Benin Saudi Arabia
2026 60 65.4
2025 58.5 64.4
2024 57.7 61.9
2023 59.8 58.3
2022 61 55.5
2021 59.6 66
2020 55.2 62.4
2019 55.3 60.7
2018 56.7 59.6
2017 59.2 64.4
2016 59.3 62.1
2015 58.8 62.1
2014 57.1 62.2
2013 57.6 60.6
2012 55.7 62.5
2011 56 66.2
2010 55.4 64.1
2009 55.4 64.3
2008 55.2 62.5
2007 55.1 60.9
2006 54 63
2005 52.3 63
2004 54.6 60.4
2003 54.9 63.2
2002 57.3 65.3
2001 60.1 62.2
2000 61.5 66.5
1999 60.6 65.5
1998 61.7 69.3
1997 61.3 68.7
1996 54.5 68.3

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

GeoRank.org/economy/benin/saudi-arabia | CC BY

The Economic Freedom Index for Benin is 60, ranking 96/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Benin Saudi Arabia
Services, % of GDP
48.9%
2024
47.1%
2024
Industry, % of GDP
17.4%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
2.54%
2024
GNI, Atlas method
$20.6B
2024
$1.26T
2024
GNI per capita, PPP
$4,390
2024
$71,730
2024
Total reserves including gold n/a
$464B
2024
Total reserves ranking n/a
7/177
2024
Net foreign direct investment
-$430M
2023
$6.27B
2024
Net inflows of foreign direct investment
$543M
2024
$21.3B
2024
Net outflows of foreign direct investment
$60.3M
2024
$27.6B
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
n/a
Poverty at national poverty lines
36.2%
2021
n/a
Gross capital formation, % of GDP
35.1%
2024
30.2%
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/saudi-arabia | 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. TradeMap (2023–2024, 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.