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Economy of Benin vs Zambia compared: GDP & Debt

Updated on by Georank team

Benin has a GDP of $21.5B compared to $25.3B for Zambia, ranking 126/197 and 116/197 by economy size, respectively.

Benin has $11.5B in government debt (53.4% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Benin vs Zambia GDP by year

Benin
Zambia
1x
Year GDP, current $
Benin Zambia
2024 $21,482,643,706 $25,303,185,342
2023 $19,673,291,004 $27,577,956,471
2022 $17,425,405,091 $29,163,782,140
2021 $17,687,623,530 $22,096,416,932
2020 $15,686,741,884 $18,137,764,931
2019 $14,391,686,313 $23,308,667,781
2018 $14,262,408,090 $26,311,507,274
2017 $12,701,655,837 $25,873,601,261
2016 $11,821,065,853 $20,958,412,538
2015 $11,388,160,997 $21,251,216,799
2014 $13,284,527,847 $27,141,023,558
2013 $12,517,845,124 $28,037,239,463
2012 $11,141,358,116 $25,503,060,420
2011 $10,693,321,364 $23,459,515,276
2010 $9,535,345,016 $20,265,559,484
2009 $9,738,626,517 $15,328,342,304
2008 $9,787,734,526 $17,910,858,638
2007 $8,169,048,383 $14,056,957,976
2006 $7,034,111,315 $12,756,858,899
2005 $6,567,654,954 $8,331,870,169
2004 $6,190,270,380 $6,221,110,219
2003 $5,349,258,094 $4,901,869,764
2002 $4,194,342,686 $4,193,850,445
2001 $3,666,222,635 $4,094,441,301
2000 $3,519,991,440 $3,600,632,111
1999 $3,677,393,999 $3,404,284,891
1998 $2,455,092,686 $3,537,741,942
1997 $2,268,301,646 $4,303,288,480
1996 $2,361,116,449 $3,597,220,962
1995 $2,169,627,138 $3,806,983,413
1994 $1,598,075,944 $3,656,806,166
1993 $2,274,558,083 $3,273,505,344
1992 $1,695,315,306 $3,182,810,841
1991 $1,986,437,797 $3,376,806,697
1990 $1,959,965,330 $3,288,381,797
1989 $1,502,294,416 $3,994,673,161
1988 $1,620,246,084 $3,728,878,149
1987 $1,562,412,228 $2,265,250,972
1986 $1,336,102,025 $1,664,413,508
1985 $1,045,712,789 $2,252,454,500
1984 $1,051,134,009 $2,719,518,933
1983 $1,095,348,199 $3,321,048,451
1982 $1,267,778,670 $3,871,117,093
1981 $1,291,120,188 $4,008,126,497
1980 $1,405,251,847 $3,884,530,854
1979 $1,186,231,020 $3,353,445,378
1978 $928,843,469 $2,811,032,473
1977 $750,049,779 $2,515,296,940
1976 $698,408,262 $2,742,859,263
1975 $676,870,140 $2,442,672,141
1974 $554,654,861 $2,910,981,262
1973 $504,376,074 $2,434,255,237
1972 $410,331,857 $1,872,416,680
1971 $335,073,028 $1,653,259,341
1970 $333,627,713 $1,788,779,285
1969 $330,748,245 $1,926,399,230
1968 $326,323,105 $1,573,739,371
1967 $306,221,953 $1,340,639,464
1966 $302,925,235 $1,238,999,505
1965 $289,908,680 $1,061,199,576
1964 $269,819,006 $822,639,671
1963 $253,927,697 $704,339,719
1962 $236,434,954 $679,279,729
1961 $235,668,221 $682,359,727
1960 $226,195,578 $698,739,721

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

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

GDP per capita in Benin vs Zambia by year

Benin
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Benin Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,485 $4,435 $1,187 $4,215
2023 $1,394 $4,130 $1,331 $4,077
2022 $1,266 $3,844 $1,447 $3,841
2021 $1,319 $3,464 $1,127 $3,503
2020 $1,200 $3,245 $952 $3,157
2019 $1,131 $3,149 $1,259 $3,361
2018 $1,152 $2,965 $1,464 $3,442
2017 $1,055 $2,886 $1,483 $3,392
2016 $1,011 $2,842 $1,239 $3,313
2015 $1,002 $2,725 $1,296 $3,337
2014 $1,204 $2,670 $1,707 $3,441
2013 $1,169 $2,512 $1,821 $3,477
2012 $1,072 $2,346 $1,710 $3,324
2011 $1,059 $2,265 $1,625 $3,228
2010 $973 $2,220 $1,451 $3,098
2009 $1,024 $2,213 $1,136 $2,872
2008 $1,061 $2,215 $1,376 $2,708
2007 $912 $2,136 $1,119 $2,555
2006 $809 $2,021 $1,052 $2,378
2005 $779 $1,946 $711 $2,213
2004 $759 $1,915 $549 $2,068
2003 $676 $1,842 $446 $1,942
2002 $546 $1,800 $394 $1,837
2001 $492 $1,746 $397 $1,785
2000 $487 $1,671 $359 $1,709
1999 $525 $1,592 $350 $1,654
1998 $362 $1,537 $373 $1,601
1997 $345 $1,508 $466 $1,631
1996 $369 $1,444 $400 $1,585
1995 $348 $1,395 $433 $1,501
1994 $262.1 $1,316 $426 $1,464
1993 $387 $1,311 $391 $1,607
1992 $302 $1,265 $389 $1,505
1991 $365 $1,239 $423 $1,534
1990 $371 $1,186 $422 $1,522
1989 $293.3 - $526 -
1988 $326 - $504 -
1987 $324 - $315 -
1986 $285.8 - $238.2 -
1985 $230.4 - $332 -
1984 $238.6 - $413 -
1983 $256 - $520 -
1982 $305 - $627 -
1981 $320 - $670 -
1980 $358 - $669 -
1979 $311 - $595 -
1978 $249.8 - $514 -
1977 $207 - $474 -
1976 $197.7 - $533 -
1975 $196.5 - $490 -
1974 $164.9 - $601 -
1973 $153.6 - $518 -
1972 $127.9 - $410 -
1971 $106.9 - $372 -
1970 $108.8 - $414 -
1969 $110.3 - $459 -
1968 $111.2 - $387 -
1967 $106.6 - $341 -
1966 $107.6 - $325 -
1965 $105.1 - $287.4 -
1964 $99.8 - $230 -
1963 $95.7 - $203.2 -
1962 $90.8 - $202.3 -
1961 $92.1 - $209.7 -
1960 $89.9 - $221.6 -

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

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

Benin's GDP per capita is $1,485, ranking 162/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Benin ranks 162nd at $4,435, while Zambia ranks 166th at $4,215.

Economic indicators

Benin Zambia
Gross domestic product
$21.5B
2024
$25.3B
2024
GDP rank
126/197
2024
116/197
2024
GDP growth
7.45%
2023-2024
3.82%
2023-2024
GDP per capita
$1,485
2024
$1,187
2024
GDP per capita rank
162/197
2024
169/197
2024
GDP per capita, PPP
$4,435
2024
$4,215
2024
GDP per capita PPP rank
162/197
2024
166/197
2024
Government debt
$11.5B
2024
$29.1B
2024
Debt-to-GDP ratio
53.4%
2024
114.9%
2024
Government debt per person
$794
2024
$1,365
2024
Government debt per person rank
151/185
2024
134/185
2024
Average annual personal income after taxes
$1,091
2026
$1,349
2026
Market capitalization of domestic companies n/a
$7.77B
2024
Income share by richest 10%
27.2%
2021
39.1%
2022
Income share by poorest 10%
3.1%
2021
1.5%
2022
Government expenditure, % of GDP
18.1%
2024
25.5%
2024
Consumer prices inflation
1.2%
2023-2024
15%
2023-2024
Central bank interest rate n/a
14.3%
2025
Unemployment rate
1.69%
2022
5.86%
2023
Population
15272847
22697916

Spending and national debt comparison by year

Benin
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Benin Zambia
Government spending Government debt Government spending Government debt
2024 18.1% 53.4% 25.5% 114.9%
2023 19.2% 54.9% 27.4% 129.1%
2022 19.9% 54.2% 28.2% 99.5%
2021 19.9% 50.3% 30.5% 111%
2020 19.1% 46.1% 34% 140%
2019 14.3% 40.4% 29.8% 103.3%
2018 16.5% 40.8% 27.7% 81.2%
2017 17.7% 39.4% 25% 66.6%
2016 15.4% 35.9% 23.9% 61.2%
2015 18.2% 30.9% 27.6% 61.9%
2014 14.2% 22.3% 24.3% 33.9%
2013 14.9% 18.5% 24% 25.9%
2012 14.2% 19.5% 21.9% 24.9%
2011 14.7% 21.9% 19.5% 20.8%
2010 14.1% 21% 18.1% 18.9%
2009 17% 18.7% 17.8% 20.5%
2008 14.5% 18.3% 19.5% 19.2%
2007 15.8% 14.3% 19.9% 21.9%
2006 13% 8.37% 19.7% 25%
2005 14.1% 27% 22.5% 75.7%
2004 13.4% 21.5% 23.3% 129.9%
2003 13.7% 23.4% 27.3% 159.5%
2002 15.3% 30.8% 27.6% 180.2%
2001 15.4% 38% 28% 210.2%
2000 15.6% 39.6% 21.4% 261%
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/zambia | CC BY

In 2024, Benin's government spending was $3.88B, accounting for 18.1% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 53.4% in Benin and 114.9% in Zambia, ranking 99/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Benin

Zambia
1x
Year Deficit/surplus, % of GDP
Benin Zambia
2024 -3.06% -3.32%
2023 -4.13% -5.48%
2022 -5.55% -7.82%
2021 -5.71% -8.13%
2020 -4.68% -13.8%
2019 -0.53% -9.41%
2018 -2.96% -8.31%
2017 -4.18% -7.5%
2016 -4.29% -5.69%
2015 -5.55% -8.88%
2014 -1.65% -5.43%
2013 -1.37% -6.4%
2012 -0.22% -3.16%
2011 -0.98% -1.78%
2010 -0.28% -2.43%
2009 -2.24% -2.06%
2008 -0.04% -0.67%
2007 0.22% -1.04%
2006 -0.15% 16.9%
2005 -1.52% -2.37%
2004 -0.7% -2.51%
2003 -1.07% -5.31%
2002 -3.33% -4.5%
2001 -3.27% -5.89%
2000 -3.69% 1.16%
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/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Benin recorded a fiscal deficit in 24 of those years, while Zambia ran a deficit in 23 years. On average, Benin posted an annual deficit equal to 2.44% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Benin

Zambia
1x
Year Consumer prices inflation
Benin Zambia
2024 1.2% 15%
2023 2.7% 10.9%
2022 1.4% 11%
2021 1.7% 22%
2020 3% 15.7%
2019 -0.9% 9.2%
2018 0.8% 7.5%
2017 1.8% 6.6%
2016 -0.8% 17.9%
2015 0.2% 10.1%
2014 -0.6% 7.8%
2013 0.4% 7%
2012 6.7% 6.6%
2011 2.7% 8.7%
2010 2.1% 8.5%
2009 0.9% 13.4%
2008 7.4% 12.4%
2007 1.3% 10.7%
2006 3.8% 9%
2005 5.4% 18.3%
2004 0.9% 18%
2003 1.5% 21.4%
2002 2.4% 22.2%
2001 4% 21.4%
2000 4.2% 24.1%
1999 0.3% 23.9%
1998 5.8% 22.7%
1997 3.8% 21.4%

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

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

Over the past 28 years, Benin has recorded an average annual inflation rate of 2.29%, compared with 14.4% in Zambia. In 2024, inflation was 1.2% in Benin and 15% in Zambia.

Top exports between countries

Benin
Export category Export value
Zambia
Export category Export value
Chemicals & pharma $47K
Machinery & equipment $23K
Miscellaneous $10K
Textiles & consumer goods $1K

Balance of trade

Benin Zambia
Current account balance
-$1.61B
2023
-$487M
2024
Current account balance ranking
135/190
2023
106/190
2024
Current account balance, % of GDP
-8.18%
2023
-1.93%
2024
Goods imports
$4.65B
2023
$10.1B
2024
Goods exports
$4.05B
2023
$11.4B
2024
Service imports
$1.54B
2023
$1.94B
2024
Service exports
$461M
2023
$1.38B
2024
Imports of goods and services, % of GDP
21.8%
2024
27.6%
2024
Exports of goods and services, % of GDP
18.8%
2024
35%
2024

Economic freedom indices

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

Benin Zambia
Economic freedom 60 51.9
Economic freedom ranking 96/197 152/197
Property rights 46.4 43.9
Government integrity 44.1 39.3
Judicial effectiveness 47.7 45
Tax burden 69.4 74.3
Government spending 89.1 78.1
Fiscal health 65.4 30.9
Business freedom 53.3 53.4
Labor freedom 60.2 48.8
Monetary freedom 82.1 66.6
Trade freedom 62.6 62.8
Investment freedom 50 40
Financial freedom 50 40

Economic freedom comparison by year

Benin
Zambia
1x
Year Economic freedom index
Benin Zambia
2026 60 51.9
2025 58.5 50.9
2024 57.7 48.4
2023 59.8 47.8
2022 61 48.7
2021 59.6 50.4
2020 55.2 53.5
2019 55.3 53.6
2018 56.7 54.3
2017 59.2 55.8
2016 59.3 58.8
2015 58.8 58.7
2014 57.1 60.4
2013 57.6 58.7
2012 55.7 58.3
2011 56 59.7
2010 55.4 58
2009 55.4 56.6
2008 55.2 56.2
2007 55.1 56.2
2006 54 56.8
2005 52.3 55
2004 54.6 54.9
2003 54.9 55.3
2002 57.3 59.6
2001 60.1 59.5
2000 61.5 62.8
1999 60.6 64.2
1998 61.7 62.7
1997 61.3 62.1
1996 54.5 59.6
1995 - 55.1

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

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

The Economic Freedom Index for Benin is 60, ranking 96/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Benin Zambia
Services, % of GDP
48.9%
2024
57.2%
2024
Industry, % of GDP
17.4%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
24.2%
2024
2.83%
2024
GNI, Atlas method
$20.6B
2024
$25.9B
2024
GNI per capita, PPP
$4,390
2024
$3,850
2024
Total reserves including gold n/a
$4.09B
2024
Total reserves ranking n/a
106/177
2024
Net foreign direct investment
-$430M
2023
-$1.32B
2024
Net inflows of foreign direct investment
$543M
2024
$2.36B
2024
Net outflows of foreign direct investment
$60.3M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
5.38%
2024
16.9%
2024
Poverty at national poverty lines
36.2%
2021
60%
2022
Gross capital formation, % of GDP
35.1%
2024
23.8%
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/zambia | 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 (2020–2023, 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.