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Senegal

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)

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

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