unbekannter Gast

Senegal: Economy#

Senegal’s economy is driven by agriculture and that sector is the primary source of employment for the rural areas. 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. senegal relies heavily on donor assistance and foreign direct investment. President Macky SALL, who was elected in March 2012 under a reformist policy agenda, inherited an economy with a weak infrastructure, challenging business environment, and a culture of overspending that still plagued the country in 2013. The IMF completed a non-dispersing, Policy Support Initiative program in December 2010 and approved a new three-year policy support instrument to assist with economic reforms. The economy continues to suffer from unreliable power supplies and rising costs of living, which has led to public protests and high unemployment and has prompted migrants to flee Senegal in search of better job opportunities in Europe.

Economic Facts#

GDP (purchasing power parity)$27.72 billion (2013 est.)
$26.65 billion (2012 est.)
$25.74 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate4% (2013 est.)
3.5% (2012 est.)
2.6% (2011 est.)
GDP - per capita (PPP)$2,100 (2013 est.)
$2,000 (2012 est.)
$2,000 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 14.9%
industry: 22.7%
services: 62.4% (2013 est.)
Population below poverty line54% (2001 est.)
Household income or consumption by percentage sharelowest 10%: 2.5%
highest 10%: 30.1% (2005)
Labor force - by occupationagriculture: 77.5%
industry and services: 22.5% (2007 est.)
Exports - commoditiesfish, groundnuts (peanuts), petroleum products, phosphates, cotton
Exports - partnersMali 14.4%, Switzerland 14.1%, India 11.9%, France 4.7%, Guinea 4.2% (2012)
Agriculture - productspeanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish
Budgetrevenues: $3.555 billion
expenditures: $4.366 billion (2013 est.)
Imports - commoditiesfood and beverages, capital goods, fuels
Imports - partnersFrance 16.2%, Nigeria 12.9%, India 6.3%, China 6.3%, UK 4.6% (2012)
Exchange ratesCommunaute Financiere Africaine francs (XOF) per US dollar -
500.7 (2013 est.)
510.53 (2012 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)
Exports$2.691 billion (2013 est.)
$2.382 billion (2012 est.)
Debt - external$4.375 billion (31 December 2013 est.)
$4.221 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$5.61 billion (2013 est.)
$5.733 billion (2012 est.)
Industrial production growth rate3% (2013 est.)
Industriesagricultural and fish processing, phosphate mining, fertilizer production, petroleum refining; iron ore, zircon, and gold mining, construction materials, ship construction and repair
Inflation rate (consumer prices)0.8% (2013 est.)
1.4% (2012 est.)
Labor force6.096 million (2013 est.)
Unemployment rate48% (2007 est.)
Distribution of family income - Gini index41.3 (2001)
41.3 (1995)
Public debt38.4% of GDP (2013 est.)
38.8% of GDP (2012 est.)
Current account balance-$1.291 billion (2013 est.)
-$1.618 billion (2012 est.)
Reserves of foreign exchange and gold$2.15 billion (31 December 2013 est.)
$2.082 billion (31 December 2012 est.)
GDP (official exchange rate)$15.36 billion (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate0.25% (31 December 2010 est.)
4.25% (31 December 2009 est.)
Commercial bank prime lending rate13.8% (31 December 2013 est.)
14.3% (31 December 2012 est.)
Stock of domestic credit$4.574 billion (31 December 2013 est.)
$4.509 billion (31 December 2012 est.)
Stock of narrow money$3.809 billion (31 December 2013 est.)
$3.577 billion (31 December 2012 est.)
Stock of broad money$6.193 billion (31 December 2013 est.)
$5.826 billion (31 December 2012 est.)
Taxes and other revenues23.2% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-5.3% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 81.8%
government consumption: 9%
investment in fixed capital: 31%
investment in inventories: 0%
exports of goods and services: 25.6%
imports of goods and services: -47.4%
(2013 est.)
Gross national saving22.4% of GDP (2013 est.)
19.3% of GDP (2012 est.)
20.2% of GDP (2011 est.)