Editing Economy of Benin (section)

==Economic development==
Since the transition to a [[Democracy|democratic]] government in 1990, Benin has undergone an economic recovery. A large injection of external investment from both private and public sources has alleviated the economic difficulties of the early 1990s caused by global recession and persistently low commodity prices (although the latter continues to affect the economy). The manufacturing sector is confined to some light industry, which is mainly involved in processing primary products and the cow production of consumer goods. A planned joint [[hydroelectric]] project with neighboring [[Togo]] is intended to reduce Benin's dependence on imported energy mostly from [[Ghana]], which currently accounts for a significant proportion of the country's imports.

The service sector has grown quickly, stimulated by economic liberalization and fiscal reform, and the use of modern technology such as automobiles and computers has grown considerably as a result. Membership of the [[CFA Franc Zone]] offers reasonable currency stability as well as access to French economic support. Benin sells its products mainly to France and, in smaller quantities, to the Netherlands, Korea, Japan, and India. France is Benin's leading source for imports. Benin is also a member of the [[Economic Community of West African States]] (ECOWAS).

Despite its rapid growth, the economy of Benin still remains underdeveloped and dependent on subsistence agriculture, cotton production, and regional trade. Growth in real output averaged a sound 5% since 1996, but a rapid population rise offset much of this growth on a per capita basis.  Inflation has subsided over the past several years. Commercial and transport activities, which make up a large part of GDP, are vulnerable to developments in [[Nigeria]], particularly fuel shortages.

Although [[trade unions in Benin]] represent up to 75% of the formal workforce, the large informal economy has been noted by the [[International Trade Union Confederation]] (ITCU) to contain ongoing problems, including a lack of women's wage equality, the use of [[child labor|child labour]], and the continuing issue of [[unfree labour|forced labour]].<ref>{{cite web
 | title=Serious violations of core labour standards in Benin, Burkina Faso and Mali
 | work=ICFTU Online
 | url=http://www.icftu.org/displaydocument.asp?Index=991220267&Language=EN
 | access-date=30 July 2007
}}</ref>

In December 2014, the [[Bureau of International Labor Affairs]] issued a ''[[List of Goods Produced by Child Labor or Forced Labor]]''<ref>{{cite web| url = http://www.dol.gov/ilab/reports/child-labor/list-of-goods/| title = List of Goods Produced by Child Labor or Forced Labor}}</ref> in which the Republic of Benin was mentioned among 74 other countries where significant instances of child labor were observed. Two major products involved such working conditions in Benin: cotton and crushed granite.