Benin: Remittances

* indicates monthly or quarterly data series
 Benin

Remittances, million USD

 Latest value 231
 Year 2022
 Measure million U.S. dollars
 Data availability 1974 - 2022
 Average 119.13
 Min - Max 7.38 - 304.66
 Source The World Bank
For that indicator, we provide data for Benin from 1974 to 2022. The average value for Benin during that period was 119.13 million U.S. dollars with a minimum of 7.38 million U.S. dollars in 1974 and a maximum of 304.66 million U.S. dollars in 2014. The latest value from 2022 is 231 million U.S. dollars. For comparison, the world average in 2022 based on 181 countries is 4215.66 million U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Benin - Remittances - recent values

Historical chart
Benin - Remittances - historical chart - 1974-2022




Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.


 Related indicators Latest value Reference Measure
 Terms of trade 115.82 2021 percent
 Trade openness 50.93 2022 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 21.65 2022 percent
 Exports, billion dollars 3.77 2022 billion U.S. dollars
 Growth of exports 19.08 2022 percent
 Imports, percent of GDP 29.28 2022 percent
 Imports, billion dollars 5.09 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 1.53 2022 percent
 Foreign Direct Investment, billion dollars 0.27 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.70 2021 million dollars (current)
 Current account, percent of GDP -5.10 2019 percent
 Current account, in dollars -0.73 2021 billion U.S. dollars
 Trade balance, percent of GDP -7.63 2022 percent
 Trade balance, in dollars -0.77 2021 billion U.S. dollars
 Remittances, percent of GDP 1.33 2022 percent
 Remittances 231.00 2022 million U.S. dollars
 Net errors and omissions 5.14 2021 million USD
 External debt 42.36 2022 percent
 Short-term external debt 5.11 2022 percent
 Foreign exchange reserves 274.60 9/2022 billion
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