Economy - overview:
Senegal relies heavily on donor assistance. The country's key export industries are phosphate mining, fertilizer production, and commercial fishing. The country is also working on iron ore and oil exploration projects. In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. 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 over 5% annually during 1995-2007. Annual inflation had been pushed down to the single digits. The country was adversely affected by the global economic downturn in 2009 and GDP growth fell to 2%. As a member of the West African Economic and Monetary Union (WAEMU), Senegal is working toward greater regional integration with a unified external tariff and a more stable monetary policy. High unemployment, however, continues to prompt illegal migrants to flee Senegal in search of better job opportunities in Europe. Under the IMF's Highly Indebted Poor Countries (HIPC) debt relief program, Senegal benefited from eradication of two-thirds of its bilateral, multilateral, and private-sector debt. In 2007, Senegal and the IMF agreed to a new, non-disbursing, Policy Support Initiative program which was completed in 2010. The IMF approved a new three-year policy support instrument in December 2010 to assist with economic reforms. Senegal receives disbursements from the $540 million Millennium Challenge Account compact it signed in September 2009 for infrastructure and agriculture development. In 2010, the Senegalese people protested against frequent power cuts. The government pledged to expand power capacity by 2012 and to promote renewable energy, but until Senegal has more capacity, more protests are likely. Foreign investment in Senegal is retarded by Senegal's unfriendly business environment.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Senegal on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Senegal Economy 2012 information contained here. All suggestions for corrections of any errors about Senegal Economy 2012 should be addressed to the CIA.
$25.4 billion (2011 est.)
country comparison to the world: 114
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$14.7 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
4% (2011 est.)
country comparison to the world: 99
[see also: GDP - real growth rate country ranks ]
$1,900 (2011 est.)
country comparison to the world: 189
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 15.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 21.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 62.3% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
5.681 million (2011 est.)
country comparison to the world: 66
[see also: Labor force country ranks ]
agriculture: 77.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 22.5% (2007 est.)
48% (2007 est.)
country comparison to the world: 191
[see also: Unemployment rate country ranks ]
54% (2001 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.1% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
41.3 (2001)
country comparison to the world: 55
[see also: Distribution of family income - Gini index country ranks ]
25.8% of GDP (2011 est.)
country comparison to the world: 58
[see also: Investment (gross fixed) country ranks ]
revenues: $3.353 billion
[see also: Budget revenues country ranks ]
expenditures: $4.337 billion (2011 est.)
[see also: Budget expenditures country ranks ]
22.8% of GDP (2011 est.)
country comparison to the world: 132
[see also: Taxes and other revenues country ranks ]
-6.7% of GDP (2011 est.)
country comparison to the world: 175
[see also: Budget surplus (+) or deficit (-) country ranks ]
33.2% of GDP (2011 est.)
country comparison to the world: 93
[see also: Public debt country ranks ]
3.4% (2011 est.)
country comparison to the world: 69
[see also: Inflation rate (consumer prices) country ranks ]
0.25% (31 December 2010 est.)
country comparison to the world: 84
[see also: Central bank discount rate country ranks ]
15% (31 December 2011 est.)
country comparison to the world: 51
[see also: Commercial bank prime lending rate country ranks ]
$3.549 billion (31 December 2011 est.)
country comparison to the world: 110
[see also: Stock of narrow money country ranks ]
$5.851 billion (31 December 2011 est.)
country comparison to the world: 124
[see also: Stock of broad money country ranks ]
$4.401 billion (31 December 2011 est.)
country comparison to the world: 116
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining; iron ore, zircon, and gold mining, construction materials, ship construction and repair
4.9% (2011 est.)
country comparison to the world: 72
[see also: Industrial production growth rate country ranks ]
2.232 billion kWh (2008 est.)
country comparison to the world: 131
[see also: Electricity - production country ranks ]
1.763 billion kWh (2008 est.)
country comparison to the world: 138
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
65.12 bbl/day (2010 est.)
country comparison to the world: 122
[see also: Oil - production country ranks ]
41,000 bbl/day (2010 est.)
country comparison to the world: 105
[see also: Oil - consumption country ranks ]
4,550 bbl/day (2009 est.)
country comparison to the world: 106
[see also: Oil - exports country ranks ]
36,290 bbl/day (2009 est.)
country comparison to the world: 98
[see also: Oil - imports country ranks ]
50 million cu m (2009 est.)
country comparison to the world: 83
[see also: Natural gas - production country ranks ]
50 million cu m (2009 est.)
country comparison to the world: 107
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 175
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 124
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 187
[see also: Natural gas - proved reserves country ranks ]
-$1.425 billion (2011 est.)
country comparison to the world: 147
[see also: Current account balance country ranks ]
$2.515 billion (2011 est.)
country comparison to the world: 134
[see also: Exports country ranks ]
fish, groundnuts (peanuts), petroleum products, phosphates, cotton
Mali 21.6%, India 9.6%, France 4.5%, Gambia, The 4.2% (2010)
$5.366 billion (2011 est.)
country comparison to the world: 120
[see also: Imports country ranks ]
food and beverages, capital goods, fuels
France 15.9%, UK 13.6%, China 8.6%, Nigeria 8.6%, Netherlands 5.2% (2010)
$2.8 billion (31 December 2011 est.)
country comparison to the world: 108
[see also: Reserves of foreign exchange and gold country ranks ]
$4.381 billion (31 December 2011 est.)
country comparison to the world: 121
[see also: Debt - external country ranks ]
Communaute Financiere Africaine francs (XOF) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12