The report on the external accounts of Benin in 2024 indicates that the trade deficit fell by 56.6% in 2024 to reach 157,688.6 million CFA francs, or 1.2% of GDP, against 363 257.6 million in 2023.

Exports increased from 2,457,043.8 million FCFA in 2023 to 2,439,597.0 million in 2024, thus registering a down by 0.7%, according to the report. In the structure of exports, soybeans became Benin's second export product in 2024. Soybeans are imposed in 2024 as the second export product, according to the composition Beninese exports. Foreign sales are made up of soybeans and soybean meal, derived in particular from processing by local industries. Since April 2024, the export of grain soybeans has not processed is highly regulated, or even prohibited, in order to promote local industrialization. This policy is beginning to have an effect.

Grain soybeans and soybean meal represent respectively 8.4% and 8.8% of the total amount of exports, according to report. Exports of soybeans were 57,445.5 million FCFA in 2024, down by 4.4% compared to 2023, where they reached 60,117.6 million FCFA.

In addition, soybean meal exports grew strongly, registering an increase of 112.1%, to reach 60 635.4 million FCFA, against 28,583.5 million FCFA in 2023.

Exports to UEMOA countries are valued at 86 775.1 million CFA francs in 2024, against 114,636.4 million CFA francs in 2023, and represent 3.6% of exports totals. The main partners are Togo (1.2%), Niger (0.8%), Ivory Coast (0.5%) and Burkina Faso (0.5%).