Includes Senegal real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Senegal economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Senegal best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Dakar
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Central Bank of West African States (BCEAO) |
---|---|
Currency |
Communaute Financiere Africaine francs (XOF) |
International Reserves | N/A |
Gross Domestic Product – GDP | USD 24.0 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 59.5 billion (2018, estimate) |
GDP Data
Real GDP growth |
2014: 6.6% 2015: 6.4% 2016: 6.2% 2017*: 7.2% 2018*: 6.2% *Estimate |
---|---|
GDP per capita – current prices | USD 1,473.8 (2018, estimate) |
GDP per capita – PPP | Intl$ 3,651.2 (2018, estimate) |
GDP (PPP) – share of world total | 0.05% (2019, estimate) |
GDP – composition by sector |
agriculture: 16.6% industry: 22.7% services: 50.4% (2016 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2014: 0.1% 2015: 0.8% 2016: 1.3% 2017: 0.5% (Estimate) 2018: 1.0% (Estimate) |
Senegal
Inflation & Debt
Inflation |
2014: 0.1% 2015: 0.8% 2016: 1.3% 2017: 0.5% (Estimate) 2018: 1.0% (Estimate) |
---|---|
Government Bond Ratings |
Standard & Poors: B+ Moodys: B1 Standard & Poors / Moodys (January 2022) |
Unemployment rate | N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2014: 44.5% 2015: 47.5% 2016: 61.2% 2017: 61.6% (Estimate) 2018: 63.3% (Estimate) |
Public deficit (General government net lending/borrowing as a % of GDP) |
2014: -3.7% 2015: -3.3% 2016: -2.5% 2017: -3.6% (Estimate) 2018: -3.0% (Estimate) |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
29.2% (2015) |
---|---|
Shares in world total merchandising export |
0.02% (2015) |
Shares in world total commercial services export |
0.02% (2014) |
Total exports |
USD 2.4 billion (2016 estimate) |
Export commodities |
Fish, groundnuts (peanuts), petroleum products, phosphates, cotton |
Total imports |
USD 5.0 billion (2016 estimate) |
Import commodities |
Food and beverages, capital goods, fuels |
Exports – major partners |
Mali 12.8%, Switzerland 9.7%, India 5.9%, Cote dIvoire 5.3%, China 5.1%, UAE 4.1%, France 4.1% (2015) |
Imports – major partners |
France 17.9%, China 10%, Nigeria 8.7%, India 5.6%, Spain 4.9%, Netherlands 4.5% (2015) |
Competitiveness & Trade
Current account balance |
USD -1.3 billion (2017 estimate) |
---|---|
Current account balance by percentage of GDP |
-8.2% (2017 estimate) |
FDI inflows |
2013: USD 311 million 2014: USD 403 million 2015: USD 345 million |
FDI Outflows |
2013: USD 33 million 2014: USD 27 million 2015: USD 27 million |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 147 out of 190 countries (2017) Subcategories: Starting a business: 90 out of 190 countries Enforcing Contracts: 144 out of 190 countries Registering Property: 142 out of 190 countries Getting Credit: 139 out of 190 countries Protecting Minority Investors: 137 out of 190 countries Trading Across Borders: 130 out of 190 countries Paying Taxes: 174 out of 190 countries Dealing with Construction Permits: 139 out of 190 countries Getting Electricity: 162 out of 190 countries Resolving Insolvency: 101 out of 190 countries |
Global competitiveness ranking |
112 out of 138 countries (2016-2017) |
Index of Economic Freedom |
Ranking: 111 / Score: 58.09 (Mostly unfree) (2016) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC 0 |
---|---|
Total Area |
196,722 sq km |
Total Population |
1990: 7.562 million 2000: 9.862 million 2010: 12.951 million 2016*: 15.406 million 2021*: 17.804 million (*Estimate) |
Urban population as % of total population |
1960: 23% 1980: 36% 2000: 40% 2015: 44% |
Population median age |
18.7 years (2016 estimate) |
Population growth rate |
2.42% (2016 estimate) |
Life expectancy |
61.7 years (2016 estimate) |
% of population living on less than $3.10 a day |
28.4% (2011) |
Inequality of wealth distribution (Gini index) |
40.3 (2011) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Political Rights: 2 Civil Liberties: 2 (2017) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 2.01% Mobile 99.95% (2015) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
21.69% (2015) |
Language & Religon
Languages |
French (official), Wolof, Pulaar, Jola, Mandinka |
---|---|
Literacy |
Total population: 57.7% Male: 69.7% Female: 46.6% (2015 est.) (age 15 and over can read and write) |
Religions |
Muslim 95.4% (most adhere to one of the four main Sufi brotherhoods), Christian 4.2% (mostly Roman Catholic), animist 0.4% (2011 est.) |
World Rankings
Population | 17.804 M |
---|---|
Mercer Cost of living index |
Dakar: 79th (2016) |
C02 Emissions per capita |
0.6 (2013) |
Global Finance Rankings & Awards: Senegal
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000