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Benin's economy is overwhelmingly agricultural, with most workers engaged in subsistence farming. The chief crops are cotton, corn, sorghum, cassava, beans, rice, peanuts, and palm oil. Goats, sheep, and pigs are raised. There is a sizable freshwater fishing industry, and some sea fish are also caught. Most of Benin's few manufactures are either processed agricultural goods or basic consumer items; the main products include foods and beverages, textiles, footwear, cement, and ginned cotton.
Petroleum, which was discovered offshore of Porto-Novo in 1968, became Benin's largest export in the 1990s. The country's other mineral resources, which include chromite, low-quality iron ore, ilmenite, and titanium, have not as yet been exploited on a large scale. There is also a developing tourist industry. The country has limited rail and road systems, and they are almost exclusively in the southern and central parts of the country; rail lines are being extended to Niger. In the 1980s, Benin began to develop its hydroelectric potential through the Mono River Dam project.
The chief imports are foodstuffs, beverages, petroleum products, machinery, electrical equipment, motor vehicles, and metals. In addition to crude oil, the principal exports are cotton, palm products, and cocoa. The annual cost of imports usually far exceeds earnings from exports. The leading trade partners are France, Brazil, Portugal, and Thailand. Benin is a member of the Franc Zone.
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