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    Senegal Economy - 2004
    https://immigration-usa.com/wfb2004/senegal/senegal_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the French franc. Government price controls and subsidies have been steadily dismantled. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to the reform program, with real growth in GDP averaging 5% annually during 1995-2003. Annual inflation had been pushed down to the low single digits. As a member of the West African Economic and Monetary Union (WAEMU), Senegal is working toward greater regional integration with a unified external tariff. Senegal also realized full Internet connectivity in 1996, creating a miniboom in information technology-based services. Private activity now accounts for 82% of GDP. On the negative side, Senegal faces deep-seated urban problems of chronic unemployment, trade union militancy, juvenile delinquency, and drug addiction.

      GDP:
      purchasing power parity - $16.93 billion (2003 est.)

      GDP - real growth rate:
      4.5% (2003 est.)

      GDP - per capita:
      purchasing power parity - $1,600 (2003 est.)

      GDP - composition by sector:
      agriculture: 18%
      industry: 27%
      services: 55% (2001 est.)

      Population below poverty line:
      54% (2001 est.)

      Household income or consumption by percentage share:
      lowest 10%: 2.6%
      highest 10%: 33.5% (1995)

      Distribution of family income - Gini index:
      41.3 (1995)

      Inflation rate (consumer prices):
      3% (2002 est.)

      Labor force:
      NA (2001 est.)

      Labor force - by occupation:
      agriculture 70%

      Unemployment rate:
      48% (urban youth 40%) (2001 est.)

      Budget:
      revenues: $1.373 billion
      expenditures: $1.373 billion, including capital expenditures of $357 million (2002 est.)

      Industries:
      agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, construction materials

      Industrial production growth rate:
      8.1% (2002 est.)

      Electricity - production:
      1.518 billion kWh (2001)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      1.412 billion kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      31,000 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

      Natural gas - production:
      50 million cu m (2001 est.)

      Natural gas - consumption:
      50 million cu m (2001 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      0 cu m (2001 est.)

      Agriculture - products:
      peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish

      Exports:
      $1.23 billion f.o.b. (2003 est.)

      Exports - commodities:
      fish, groundnuts (peanuts), petroleum products, phosphates, cotton

      Exports - partners:
      India 20.8%, France 13%, Mali 8.9%, Greece 7.7%, Italy 4.4% (2002)

      Imports:
      $1.753 billion f.o.b. (2003 est.)

      Imports - commodities:
      foods and beverages, capital goods, fuels

      Imports - partners:
      France 25.6%, Nigeria 8.7%, Thailand 7.2%, US 5.4%, Germany 5.4%, Italy 4.5% (2002)

      Debt - external:
      $3 billion (2003 est.)

      Economic aid - recipient:
      $362.6 million (2002 est.)

      Currency:
      Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States

      Currency code:
      XOF

      Exchange rates:
      Communaute Financiere Africaine francs (XOF) per US dollar - 581.2 (2003), 696.99 (2002), 733.04 (2001), 711.98 (2000), 615.7 (1999)

      Fiscal year:
      calendar year


      NOTE: The information regarding Senegal on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Senegal Economy 2004 information contained here. All suggestions for corrections of any errors about Senegal Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/senegal/senegal_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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