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Economy of Benin vs Ukraine compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $191B for Ukraine, ranking 126/197 and 57/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Benin vs Ukraine GDP by year

Benin
Ukraine
1x
Year GDP, current $
Benin Ukraine
2024 $21,482,643,706 $190,741,262,415
2023 $19,673,291,004 $181,221,517,869
2022 $17,425,405,091 $161,989,520,721
2021 $17,687,623,530 $199,765,859,571
2020 $15,686,741,884 $156,617,722,013
2019 $14,391,686,313 $153,883,047,510
2018 $14,262,408,090 $130,891,088,294
2017 $12,701,655,837 $112,090,505,082
2016 $11,821,065,853 $93,355,869,404
2015 $11,388,160,997 $91,030,967,789
2014 $13,284,527,847 $133,503,871,862
2013 $12,517,845,124 $190,498,811,460
2012 $11,141,358,116 $182,591,753,828
2011 $10,693,321,364 $169,333,835,202
2010 $9,535,345,016 $141,209,170,427
2009 $9,738,626,517 $121,552,153,444
2008 $9,787,734,526 $188,110,390,660
2007 $8,169,048,383 $148,733,861,386
2006 $7,034,111,315 $111,884,752,475
2005 $6,567,654,954 $89,238,865,119
2004 $6,190,270,380 $67,220,154,164
2003 $5,349,258,094 $52,010,355,753
2002 $4,194,342,686 $43,956,163,612
2001 $3,666,222,635 $39,309,580,983
2000 $3,519,991,440 $32,375,083,935
1999 $3,677,393,999 $31,580,639,554
1998 $2,455,092,686 $41,882,523,345
1997 $2,268,301,646 $50,151,531,592
1996 $2,361,116,449 $44,558,831,005
1995 $2,169,627,138 $48,213,856,469
1994 $1,598,075,944 $52,549,580,265
1993 $2,274,558,083 $65,648,559,903
1992 $1,695,315,306 $73,945,908,384
1991 $1,986,437,797 $77,350,733,982
1990 $1,959,965,330 $81,393,558,423
1989 $1,502,294,416 $82,709,161,099
1988 $1,620,246,084 $74,703,517,903
1987 $1,562,412,228 $64,087,694,038
1986 $1,336,102,025 -
1985 $1,045,712,789 -
1984 $1,051,134,009 -
1983 $1,095,348,199 -
1982 $1,267,778,670 -
1981 $1,291,120,188 -
1980 $1,405,251,847 -
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/ukraine | CC BY

GDP per capita in Benin vs Ukraine by year

Benin
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $5,038 $18,550
2023 $1,394 $4,130 $4,803 $17,665
2022 $1,266 $3,844 $3,946 $14,770
2021 $1,319 $3,464 $4,510 $17,846
2020 $1,200 $3,245 $3,505 $15,541
2019 $1,131 $3,149 $3,423 $14,217
2018 $1,152 $2,965 $2,895 $12,555
2017 $1,055 $2,886 $2,467 $11,536
2016 $1,011 $2,842 $2,047 $10,865
2015 $1,002 $2,725 $1,988 $9,922
2014 $1,204 $2,670 $2,904 $10,494
2013 $1,169 $2,512 $4,130 $10,904
2012 $1,072 $2,346 $3,951 $9,552
2011 $1,059 $2,265 $3,657 $9,127
2010 $973 $2,220 $3,040 $8,453
2009 $1,024 $2,213 $2,607 $7,995
2008 $1,061 $2,215 $4,018 $9,324
2007 $912 $2,136 $3,160 $8,900
2006 $809 $2,021 $2,366 $7,971
2005 $779 $1,946 $1,875 $7,142
2004 $759 $1,915 $1,401 $6,663
2003 $676 $1,842 $1,076 $5,764
2002 $546 $1,800 $903 $5,123
2001 $492 $1,746 $800 $4,747
2000 $487 $1,671 $653 $4,228
1999 $525 $1,592 $632 $3,871
1998 $362 $1,537 $831 $3,794
1997 $345 $1,508 $987 $3,794
1996 $369 $1,444 $870 $3,812
1995 $348 $1,395 $933 $4,124
1994 $262.1 $1,316 $1,009 $4,565
1993 $387 $1,311 $1,254 $5,766
1992 $302 $1,265 $1,413 $6,568
1991 $365 $1,239 $1,483 $7,148
1990 $371 $1,186 $1,564 $7,591
1989 $293.3 - $1,593 -
1988 $326 - $1,444 -
1987 $324 - $1,244 -
1986 $285.8 - - -
1985 $230.4 - - -
1984 $238.6 - - -
1983 $256 - - -
1982 $305 - - -
1981 $320 - - -
1980 $358 - - -
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/ukraine | CC BY

Benin's GDP per capita is $1,485, ranking 162/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Ukraine ranks 101st at $18,550.

Economic indicators

Benin Ukraine
Gross domestic product
$21.5B
2024
$191B
2024
GDP rank
126/197
2024
57/197
2024
GDP growth
7.45%
2023-2024
2.91%
2023-2024
GDP per capita
$1,485
2024
$5,038
2024
GDP per capita rank
162/197
2024
120/197
2024
GDP per capita, PPP
$4,435
2024
$18,550
2024
GDP per capita PPP rank
162/197
2024
101/197
2024
Government debt
$11.5B
2024
$171B
2024
Debt-to-GDP ratio
53.4%
2024
89.7%
2024
Government debt per person
$794
2024
$4,520
2024
Government debt per person rank
151/185
2024
86/185
2024
Average annual personal income after taxes
$1,091
2026
$5,370
2026
Market capitalization of domestic companies n/a
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10%
27.2%
2021
21.7%
2020
Income share by poorest 10%
3.1%
2021
4.3%
2020
Government expenditure, % of GDP
18.1%
2024
71.3%
2024
Consumer prices inflation
1.2%
2023-2024
6.5%
2023-2024
Central bank interest rate n/a
15.5%
2025
Unemployment rate
1.69%
2022
9.83%
2021
Population
15272847
40125599

Spending and national debt comparison by year

Benin
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Benin Ukraine
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 71.3% 89.7%
2023 19.2% 54.9% 73.4% 81.2%
2022 19.9% 54.2% 65.4% 77.7%
2021 19.9% 50.3% 40.5% 48.9%
2020 19.1% 46.1% 45.6% 60.5%
2019 14.3% 40.4% 41.5% 50.5%
2018 16.5% 40.8% 41.9% 60.4%
2017 17.7% 39.4% 41.7% 71.6%
2016 15.4% 35.9% 40.8% 79.5%
2015 18.2% 30.9% 43% 79.3%
2014 14.2% 22.3% 44.8% 70.3%
2013 14.9% 18.5% 48.1% 40.5%
2012 14.2% 19.5% 49% 37.5%
2011 14.7% 21.9% 45.7% 36.9%
2010 14.1% 21% 49.2% 40.6%
2009 17% 18.7% 48.6% 35.4%
2008 14.5% 18.3% 47.1% 20.4%
2007 15.8% 14.3% 43.7% 12.3%
2006 13% 8.37% 44.6% 14.8%
2005 14.1% 27% 44.2% 17.7%
2004 13.4% 21.5% 41.6% 24.8%
2003 13.7% 23.4% 38.9% 29.4%
2002 15.3% 30.8% 37.9% 33.6%
2001 15.4% 38% 36.7% 36.7%
2000 15.6% 39.6% 35.5% 43.8%
1999 10.7% 39.4% 25.8% 59%
1998 10.9% 39.2% 37.1% 46.5%
1997 12.7% 42.9% 40.8% 28.9%
1996 13.3% 43.4% 36.9% 24.4%
1995 14.8% 48.3% 41.3% 30.2%
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/ukraine | CC BY

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 89.7% in Ukraine, ranking 99/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Ukraine
1x
Year Deficit/surplus, % of GDP
Benin Ukraine
2024 -3.06% -17.2%
2023 -4.13% -19.3%
2022 -5.55% -15.6%
2021 -5.71% -3.97%
2020 -4.68% -5.92%
2019 -0.53% -2.08%
2018 -2.96% -2.12%
2017 -4.18% -2.36%
2016 -4.29% -2.46%
2015 -5.55% -1.16%
2014 -1.65% -4.46%
2013 -1.37% -4.78%
2012 -0.22% -4.31%
2011 -0.98% -2.76%
2010 -0.28% -5.77%
2009 -2.24% -6.27%
2008 -0.04% -3.14%
2007 0.22% -1.97%
2006 -0.15% -1.36%
2005 -1.52% -2.28%
2004 -0.7% -4.41%
2003 -1.07% -0.89%
2002 -3.33% -1.84%
2001 -3.27% -3.03%
2000 -3.69% -3.19%
1999 1.94% 4.95%
1998 1.83% -2.69%
1997 0.47% -5.37%
1996 -0.11% -3.09%
1995 -1.91% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, Benin recorded a fiscal deficit in 26 of those years, while Ukraine ran a deficit in 29 years. On average, Benin posted an annual deficit equal to 1.96% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Benin

Ukraine
1x
Year Consumer prices inflation
Benin Ukraine
2024 1.2% 6.5%
2023 2.7% 12.9%
2022 1.4% 20.2%
2021 1.7% 9.4%
2020 3% 2.7%
2019 -0.9% 7.9%
2018 0.8% 10.9%
2017 1.8% 14.4%
2016 -0.8% 13.9%
2015 0.2% 48.7%
2014 -0.6% 12.1%
2013 0.4% -0.3%
2012 6.7% 0.6%
2011 2.7% 8%
2010 2.1% 9.4%
2009 0.9% 15.9%
2008 7.4% 25.2%
2007 1.3% 12.8%
2006 3.8% 9.1%
2005 5.4% 13.5%
2004 0.9% 9%
2003 1.5% 5.2%
2002 2.4% 0.8%
2001 4% 12%
2000 4.2% 28.2%
1999 0.3% 22.7%
1998 5.8% 10.6%
1997 3.8% 15.9%

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

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

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 12.8% in Ukraine. In 2024, inflation was 1.2% in Benin and 6.5% in Ukraine.

Top exports between countries

Benin
Export category Export value
Textiles & consumer goods $10.5M
Precious metals & jewellery $1.97M
Metals $1.07M
Animal & marine products $29K
Ukraine
Export category Export value
Metals $9.56M
Raw materials & minerals $8.8M
Processed food, beverages & tobacco $1.97M
Raw agricultural goods $702K
Textiles & consumer goods $267K
Animal & marine products $172K
Machinery & equipment $167K

Balance of trade

Benin Ukraine
Current account balance
-$1.61B
2023
-$15.1B
2024
Current account balance ranking
135/190
2023
179/190
2024
Current account balance, % of GDP
-8.18%
2023
-7.94%
2024
Goods imports
$4.65B
2023
$72.3B
2024
Goods exports
$4.05B
2023
$39.3B
2024
Service imports
$1.54B
2023
$22.9B
2024
Service exports
$461M
2023
$17.3B
2024
Imports of goods and services, % of GDP
21.8%
2024
48.3%
2024
Exports of goods and services, % of GDP
18.8%
2024
29.4%
2024

Economic freedom indices

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

Benin Ukraine
Economic freedom 60 54.1
Economic freedom ranking 96/197 135/197
Property rights 46.4 21.6
Government integrity 44.1 35
Judicial effectiveness 47.7 28.2
Tax burden 69.4 83.7
Government spending 89.1 0
Fiscal health 65.4 3.9
Business freedom 53.3 57.4
Labor freedom 60.2 46.9
Monetary freedom 82.1 65.7
Trade freedom 62.6 73
Investment freedom 50 35
Financial freedom 50 30

Economic freedom comparison by year

Benin
Ukraine
1x
Year Economic freedom index
Benin Ukraine
2026 60 -
2025 58.5 -
2024 57.7 -
2023 59.8 -
2022 61 54.1
2021 59.6 56.2
2020 55.2 54.9
2019 55.3 52.3
2018 56.7 51.9
2017 59.2 48.1
2016 59.3 46.8
2015 58.8 46.9
2014 57.1 49.3
2013 57.6 46.3
2012 55.7 46.1
2011 56 45.8
2010 55.4 46.4
2009 55.4 48.8
2008 55.2 51
2007 55.1 51.5
2006 54 54.4
2005 52.3 55.8
2004 54.6 53.7
2003 54.9 51.1
2002 57.3 48.2
2001 60.1 48.5
2000 61.5 47.8
1999 60.6 43.7
1998 61.7 40.4
1997 61.3 43.5
1996 54.5 40.6
1995 - 39.9

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

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

The Economic Freedom Index for Benin is 60, ranking 96/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Benin Ukraine
Services, % of GDP
48.9%
2024
60.6%
2024
Industry, % of GDP
17.4%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
7.11%
2024
GNI, Atlas method
$20.6B
2024
$184B
2024
GNI per capita, PPP
$4,390
2024
$18,560
2024
Total reserves including gold n/a
$43.8B
2024
Total reserves ranking n/a
46/177
2024
Net foreign direct investment
-$430M
2023
-$3.71B
2024
Net inflows of foreign direct investment
$543M
2024
$4.02B
2024
Net outflows of foreign direct investment
$60.3M
2024
$305M
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
5.42%
2024
Poverty at national poverty lines
36.2%
2021
23.2%
2020
Gross capital formation, % of GDP
35.1%
2024
18.6%
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/ukraine | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1989–1997, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  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.