Senegal


Senegal Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Senegal; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of West African States (BCEAO)
International Reserves US$ 1.946 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 14.151 billion (2011 estimate)
GDP (Purchasing Power Parity) 26.452 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
4.6% 0.7% 6.7% 5.9% 5.6% 2.4% 5% 3.7%
2009 2010 2011 2012*
2.1% 4.1% 2.6% 3.8%

*Estimate

GDP per capita - current prices US$ 1,028 (2009 estimate)
GDP per capita - PPP $1,921 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.04% 0.03% 0.03% 0.03% 0.03%

**Forecast

GDP - composition by sector
  • agriculture: 15.9% 
  • industry: 21.7% 
  • services: 62.3% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
-1.7%(2008) 1.2% 3.4% 3%

*Estimate

Unemployment rate
2009 2010 2011 2012*
N/A N/A N/A(2009) N/A

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
24.8% 34.6% 35.9% 40.6% 43.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-4.7% -4.9% -5.2% -6.1% -5.8%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B+

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in Senegal N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -1.4 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -10% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

24.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.01%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.02% (2010)(2007)

(Data were released in 2012)

Total exports US$2.458 billion (2012 estimate) 
Export commodities fish, groundnuts (peanuts), petroleum products, phosphates, cotton
Total imports US$5.109 billion (2012 estimate) 
Import commodities food and beverages, capital goods, fuels
Exports - major partners Mali 22.6%, India 9.2%, France 4.8%, Italy 4.4% (2011)
Imports - major partners France 17.5%, China 10%, UK 8.8%, Nigeria 8.7%, Netherlands 6%, US 5% (2011)
FDI inflows
2009 2010 2011
US$320 million US$266 million(2009) US$286 million(2009)
FDI outflows
2009 2010 2011
US$77 million US$2 million US$66 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) N/A(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 166 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 102 out of 185 countries(2009)

Enforcing Contracts: 148 out of 185 countries

Registering Property: 173 out of 185 countries

Getting credit: 129 out of 185 countries

Protecting investors: 169 out of 185 countries

Trading across border: 67 out of 185 countries

Paying Taxes: 178 out of 185 countries

Dealing with Construction Permits: 133 out of 185 countries

Getting Electricity: 180 out of 185 countries

Resolving Insolvency: 90 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
117

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 120 Score: 55.4 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC 0
Total area 196,722 km2 (2006)
Capital Dakar (2009)
Currency Communaute Financiere Africaine francs (XOF) (2009)
Government type republic (2009)
Languages French (official), Wolof, Pulaar, Jola, Mandinka
Religions Muslim 94%, Christian 5% (mostly Roman Catholic), indigenous beliefs 1%
Total population
1980 1990 2000 2012* 2017**
5.96 million 7.98 million 10.34 million 13.77 million 15.5 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
23% 35.8% 40.6% 42.6%
Population median age 18 years (2010)
Population growth rate 2.6% (2011)
Life expectancy 59 years (2010)
Adult literacy 50% (2005/2010)
% of population living on less than $2 a day 60.36% (2011)
Inequality of wealth distribution (Gini index)

39.19 (2005)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:3 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

75.96% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 17.5% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Dakar: 44th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.378 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Southeast Asia, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Ecobank Senegal (National, 2012)
2011:
  • COUNTRY WINNERS CBAO Attijariwafa Bank (National, 2011)
2010:
  • COUNTRY WINNERS Ecobank Senegal (Ravi Menon, 2010)
2009:
  • COUNTRY WINNERS Ecobank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE