page_title: Porto-Novo
section_title: Economy
hierarchical_section_title: Porto-Novo / Economy
caption_attribution_description: English: Ouando Market, in Porto-Novo, Benin Français&#160;: Marché Ouando de Porto-Novo, Bénin
context_page_description: Porto-Novo is the capital of Benin. The commune covers an area of 110 square kilometres and as of 2002 had a population of 223,552 people.
  As the name suggests, Porto-Novo was originally developed as a port for the slave trade led by the Portuguese Empire.
  Porto-Novo is a port on an inlet of the Gulf of Guinea, in the southeastern portion of the country. It is Benin's second-largest city, and although Porto-Novo is the official capital, where the national legislature sits, the larger city of Cotonou is the seat of government, where most of the government buildings are situated and government departments operate.
context_section_description: The region around Porto-Novo produces palm oil, cotton and kapok. Petroleum was discovered off the coast of the city in the 1990s, and has since then become an important export. Porto-Novo has a cement factory. The city is home to a branch of the Banque Internationale du Bénin, a major bank in Benin, and the Ouando Market.
caption: Ouando Market in Porto-Novo
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