The 2011 Import and Export Market for Mineral Fuels, Lubricants, and Related Materials in Benin by ICONGroup


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									   The 2011 Import and Export
    Market for Mineral Fuels,
     Lubricants, and Related
        Materials in Benin

                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)                                      ©2011 ICON Group Ltd.

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                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.

                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.

Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.                                                    ©2011 ICON Group Ltd.

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                                                               Contents        v

Table of Contents
1     INTRODUCTION AND METHODOLOGY                                         6
2     BENIN AND THE WORLD MARKET                                           8
    2.1        Imports in Benin in 2011                                    8
    2.2        Exports from Benin in 2011                                  9
3     IMPORTS IN BENIN                                                    10
    3.1        Africa                                                     10
       3.1.1      Cameroon                                                10
       3.1.2      Congo (formerly Zaire)                                  11
       3.1.3      Cote d'Ivoire                                           11
       3.1.4      Ghana                                                   12
       3.1.5      Liberia                                                 12
       3.1.6      Morocco                                                 13
       3.1.7      Nigeria                                                 14
       3.1.8      Senegal                                                 15
       3.1.9      Togo                                                    15
    3.2        Europe                                                     16
       3.2.1      Croatia                                                 16
    3.3        Latin America                                              17
       3.3.1      Honduras                                                17
    3.4        the Middle East                                            18
       3.4.1      Bahrain                                                 18
4     EXPORTS FROM BENIN                                                  19
    4.1      Africa                                                       19
       4.1.1   Togo                                                       19
    5.1        Disclaimers & Safe Harbor                                  20
    5.2        ICON Group Ltd. User Agreement Provisions                  21                                    ©2011 ICON Group Ltd.
                                    Mineral Fuels, Lubricants, and Related Materials in Benin     6

On the demand side, exporters and strategic planners focusing on mineral fuels, lubricants, and
related materials in Benin face a number of questions. Which countries are supplying mineral
fuels, lubricants, and related materials to Benin? How important is Benin compared to others in
terms of the entire global and regional market? How much do the imports of mineral fuels,
lubricants, and related materials vary from one country of origin to another in Benin? On the
supply side, Benin also exports mineral fuels, lubricants, and related materials. Which countries
receive the most exports from Benin? How are these exports concentrated across buyers? What
is the value of these exports and which countries are the largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for mineral fuels, lubricants, and
related materials in Benin. With the globalization of this market, managers can no longer be
contented with a local view. Nor can managers be contented with out-of-date statistics which
appear several years after the fact. I have developed a methodology, based on macroeconomic
and trade models, to estimate the market for mineral fuels, lubricants, and related materials for
those countries serving Benin via exports, or supplying from Benin via imports. It does so for the
current year based on a variety of key historical indicators and econometric models.

In what follows, Chapter 2 begins by summarizing where Benin fits into the world market for
imported and exported mineral fuels, lubricants, and related materials. The total level of imports
and exports on a worldwide basis, and those for Benin in particular, is estimated using a model
which aggregates across over 150 key country markets and projects these to the current year.
From there, each country represents a percent of the world market. This market is served from a
number of competitive countries of origin. Based on both demand- and supply-side dynamics,
market shares by country of origin are then calculated across each country market destination.
These shares lead to a volume of import and export values for each country and are aggregated to
regional and world totals. In doing so, we are able to obtain maximum likelihood estimates of
both the value of each market and the share that Benin is likely to receive this year. From these
figures, rankings are calculated to allow managers to prioritize Benin compared to other major
country markets. In this way, all the figures provided in this report are forecasts that can be
combined with internal information sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of mineral fuels,
lubricants, and related materials, Chapter 3 goes into detail on imports, but for each major
country of origin serving Benin. A “major” market is defined as a country where Benin
represents a substantially large share of either imports or exports. For each major country
exporting to Benin, one can thus observe how important Benin is to that exporting country
compared to other countries of the world. Chapter 4 does the same, but for exports of mineral
fuels, lubricants, and related materials originating from Benin, for each major country of
destination. In doing so, one can discover the share that Benin has in each major market; this
share value is often used as a measure of competitiveness for Benin. In all cases, the total dollar                                                        ©2011 ICON Group Ltd.
                                     Mineral Fuels, Lubricants, and Related Materials in Benin      7

volume and percentage share values by major trading partner are provided. Combined, Chapters
3 and 4 present a the total picture for imports and exports of mineral fuels, lubricants, and related
materials to and from Benin to and from all other major countries in the world. "Mineral Fuels,
Lubricants, and Related Materials" as a category is defined in this report following the definition
given by the United Nations Statistics Division Classification Registry using the Standard
International Trade Classification, Revision 3 (SITC, Rev. 3). The SITC code that defined
"mineral fuels, lubricants, and related materials" is 3 . For more information on this definition,
please refer to the following web site: .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.                                                         ©2011 ICON Group Ltd.
                                       Mineral Fuels, Lubricants, and Related Materials in Benin        8

2.1         IMPORTS IN BENIN IN 2011
      Imported Mineral Fuels, Lubricants, and Related Materials in Benin, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank         Value (000 US$)              % Share        Cumulative %
Ghana                             1                  103,778                31.29                   31.29
Cote d'Ivoire                     2                   83,891                25.30                   56.59
Nigeria                           3                   35,579                10.73                   67.32
the United Kingdom                4                   18,036                 5.44                   72.76
Cameroon                          5                   16,743                 5.05                   77.81
Bahrain                           6                   16,261                 4.90                   82.71
Togo                              7                   14,955                 4.51                   87.22
the United Arab Emirates          8                    8,631                 2.60                   89.82
the Netherlands                   9                    7,133                 2.15                   91.97
Congo (formerly Zaire)           10                    5,058                 1.53                   93.50
Belgium                          11                    4,144                 1.25                   94.75
Liberia                          12                    3,752                 1.13                   95.88
Senegal                          13                    3,012                 0.91                   96.79
Kuwait                           14                    2,272                 0.69                   97.47
Spain                            15                    2,089                 0.63                   98.10
Saudi Arabia                     16                    1,822                 0.55                   98.65
France                           17                    1,739                 0.52                   99.17
South Africa                     18                    1,190                 0.36                   99.53
Morocco                          19                      681                 0.21                   99.74
Egypt                            20                      260                 0.08                   99.82
Honduras                         21                      258                 0.08                   99.90
India                            22                      242                 0.07                   99.97
Italy                            23                       63                 0.02                   99.99
Croatia                          24                       40                 0.01                  100.00
the United States                25                        2                 0.00                  100.00
Total                                                331,631               100.00                  100.00
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011,                                                           ©2011 ICON Group Ltd.
                                       Mineral Fuels, Lubricants, and Related Materials in Benin        9

2.2         EXPORTS FROM BENIN IN 2011
      Mineral Fuels, Lubricants, and Related Materials Exports from Benin, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
Togo                               1                    3,592              100.00                  100.00
Total                                                   3,592              100.00       
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