Editing Economy of Senegal

{{Short description|None}}
{{Infobox economy
|country = Senegal
|image = Dakar-Indépendance.jpg
|image_size = 300px
|caption = [[Dakar]], Senegal's ''place de l'Indépendance'': a center of government, banking and trade. In the background is the commercial port and the tourist area, [[Gorée]] island.
|organs = [[African Union|AU]], [[African Continental Free Trade Agreement|AfCFTA]], [[Economic Community of West African States|ECOWAS]], [[Community of Sahel–Saharan States|CEN-SAD]], [[World Trade Organization|WTO]]
|group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
*Lower-middle income economy<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
|population = {{increase}} 18,384,660 (2023)<ref>{{cite web |title=Population, total - Senegal |url=https://data.worldbank.org/indicator/SP.POP.TOTL?locations=SN&name_desc=false |website=data.worldbank.org |publisher=World Bank |access-date=25 January 2020}}</ref>
|gdp = {{plainlist|
*{{increase}} $35.45 billion (nominal, 2024 est.)<ref name="imfsg">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/April/weo-report?c=722,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPRPPPPC,NGDPDPC,PPPPC,PPPEX,PCPI,PCPIPCH,LP,&sy=2020&ey=2026&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, April 2024 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=15 May 2024}}</ref>
*{{increase}} $86.98 billion ([[Purchasing power parity|PPP]], 2024 est.)<ref name="imfsg"/>}}
|gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|102nd (nominal, 2024)]]
*[[List of countries by GDP (PPP)|103rd (PPP, 2024)]]}}
|growth        = {{plainlist|
*6.54%&nbsp;(2021) 4.00%&nbsp;(2022e)
*4.10%&nbsp;(2023e) 8.25%&nbsp;(2024f)<ref name="imfsg"/>}}
|per capita = {{plainlist|
*{{increase}} $1,900 (nominal, 2024 est.)<ref name="imfsg"/>
*{{increase}} $4,661 (PPP, 2024 est.)<ref name="imfsg"/>}}
|per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|154th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|152nd (PPP, 2024)]]}}
|sectors = {{plainlist|
*agriculture: 16.9%
*industry: 24.3%
*services: 58.8%
*(2017 est.)<ref name="CIAWFSG">{{cite web |url=https://www.cia.gov/the-world-factbook/countries/senegal/ |title=The World Factbook |publisher=[[Central Intelligence Agency]] |website=CIA.gov |access-date=1 February 2019}}</ref>}}
|inflation = 2.2% (2021)<ref name="imfsg"/>
|poverty = {{plainlist|
*46.7% (2011 est.)<ref name="CIAWFSG"/>
*67.5% on less than $3.20/day (2011)<ref>{{cite web |title=Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) - Senegal |url=https://data.worldbank.org/indicator/SI.POV.LMIC?locations=SN&name_desc=false |website=data.worldbank.org |publisher=World Bank |access-date=25 January 2020}}</ref>}}
|gini = 38.1 {{color|darkorange|medium}} (2018, [[World Bank]])<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=SN |title=GINI index (World Bank estimate) |publisher=[[World Bank]] |website=data.worldbank.org |access-date=18 March 2019}}</ref>
|hdi = {{plainlist|
*{{increase}} 0.517 {{color|red|low}} (2022)<ref>{{cite web |url=http://hdr.undp.org/en/indicators/137506 |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=17 November 2022}}</ref> ([[List of countries by Human Development Index|169th]])
*{{decrease}} 0.334 {{color|red|low}} [[List of countries by inequality-adjusted HDI|IHDI]] (2022)<ref>{{cite web |url=http://hdr.undp.org/en/content/table-3-inequality-adjusted-human-development-index-ihdi |title=Inequality-adjusted Human Development Index (IHDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=17 November 2022}}</ref>}}
|labor = {{plainlist|
*{{increase}} 5,257,332 (2023)<ref>{{cite web |title=Labor force, total - Senegal |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=SN&name_desc=false |website=data.worldbank.org |publisher=World Bank |access-date=25 January 2020}}</ref>
*42.4% employment rate (2015)<ref>{{cite web |title=Employment to population ratio, 15+, total (%) (national estimate) - Senegal |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=SN&name_desc=false |website=data.worldbank.org |publisher=World Bank |access-date=25 January 2020}}</ref>}}
|occupations = {{plainlist|
*agriculture: 77.5%
*industry: 22.5%
*industry and services: 22.5%
*(2007 est.)<ref name="CIAWFSG"/>}}
|unemployment = 15,7% (2017)<ref>[http://www.ansd.sn/index.php?option=com_content&view=article&id=370:2018-04-13-08-41-29&catid=56:depeches&Itemid=264 "Le taux de chômage est estimé à 15,7% (T4 2017)"], 27 December 2019.</ref>
|industries = agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, zircon, and gold mining, construction materials, ship construction and repair
|edbr = {{increase}} [[Ease of doing business index#Ranking|123rd (medium, 2020)]]<ref>{{cite web|url=http://www.doingbusiness.org/data/exploreeconomies/senegal |title=Ease of Doing Business in Senegal |publisher=Doingbusiness.org |access-date=2017-01-23 }}</ref>
|exports = {{decrease}} $2.362 billion (2017 est.)<ref name="CIAWFSG"/>
|export-goods = fish, groundnuts (peanuts), petroleum products, phosphates, cotton
|export-partners = {{plainlist|
*{{flag|Mali}} 20%
*{{flag|Switzerland}} 14.5%
*{{flag|India}} 10.1%
*{{flag|China}} 6.68%
*{{flag|Australia}} 4.18%
*{{flag|Cote d'Ivoire}} 4.13%
*{{flag|Spain}} 3.73%
*{{flag|Gambia}} 3.38%
*{{flag|Guinea}} 2.76%
*{{flag|United States}} 2.57%
*(2017)<ref name="CIAWFSG"/>}}
|imports = {{increase}} $5.217 billion (2017 est.)<ref name="CIAWFSG"/>
|import-goods = food and beverages, capital goods, fuels
|import-partners = {{plainlist|
*{{flag|China}} 21.1%
*{{flag|Russia}} 9.15%
*{{flag|France}} 7.62%
*{{flag|India}} 6.33%
*{{flag|Netherlands}} 4.96%
*{{flag|Belgium}} 4.52%
*{{flag|United States}} 3.9%
*{{flag|Turkey}} 3.86%
*{{flag|Nigeria}} 3.3%
*{{flag|Spain}} 2.85%
*(2017)<ref name="CIAWFSG"/>}}
|current account = {{decrease}} −$1.547 billion (2017 est.)<ref name="CIAWFSG"/>
|gross external debt = {{increaseNegative}} $8.571 billion (31 December 2017 est.)<ref name="CIAWFSG"/>
|debt = {{increaseNegative}} 48.3% of GDP (2017 est.)<ref name="CIAWFSG"/>
|balance = −3.6% (of GDP) (2017 est.)<ref name="CIAWFSG"/>
|revenue = 4.139 billion (2017 est.)<ref name="CIAWFSG"/>
|expenses = 4.9 billion (2017 est.)<ref name="CIAWFSG"/>
|reserves = {{gain}} $1.827 billion (31 December 2017 est.)<ref name="CIAWFSG"/>
|cianame = senegal
}}
[[Image:Dakar-BCEAO1.jpg|thumb|The headquarters of the [[Central Bank of West African States]], Dakar.]]
[[Image:Air Senegal International B737 6V-AHU.jpg|thumb|A jet of the national airline, [[Air Senegal International]].]]
[[Image:Sucrerie richard toll2.jpg|thumb|A sugar processing plant of the ''Compagnie sucrière sénégalaise'' at [[Richard Toll]].]]
[[Image:Saly Senegal1.JPG|thumb|The main street of the tourist resort town of [[Saly]].]]
[[Image:Senegal Touba Pneu Thies 800x600.jpg|thumb|Many small businesses, like this tyre repair shop in [[Touba, Senegal|Touba]], are financed through the [[Mouride]] Islamic brotherhood.]]
[[Image:SénégalParis.jpg|thumb|Paris ''Salon international de l'Agriculture'' 2007: the government actively promotes agricultural exports to markets outside the developing world.]]
[[Image:Senegal retour de peche a Soumbedioun 800x600.jpg|thumb|Small scale fishing for local markets is visible all through the country. Here fishermen return to the beach at Soumbedioun, Dakar.]]
[[Image:PhosphateSenegal.jpg|thumb|A [[Rock phosphate]] [[Surface mining|surface mine]] in western Senegal, near Taïba.]]
The '''economy of Senegal''' is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from [[commercial fishing|fish]], [[Rock phosphate|phosphate]]s, [[peanut|groundnut]]s, [[tourist industry|tourism]], and services. As one of the dominant parts of the economy, the [[agriculture|agricultural]] sector of [[Senegal]] is highly vulnerable to environmental conditions, such as variations in rainfall [[Climate change in Senegal|and climate change]], and changes in world [[commodity market|commodity prices]].

[[Dakar]], the former capital of [[French West Africa]], is also home to banks and other institutions which serve all of Francophone West Africa, and is a hub for shipping and transport in the region.

Senegal also has one of the best developed tourist industries in Africa. Senegal's economy depends on foreign assistance. It is a member of the [[World Trade Organization]].

The main obstacles to the economic development of the country are its great [[Corruption in Senegal|corruption]] with inefficient justice, very slow administrative formalities, and a failing education sector.<ref>The Economist, The African Century, March 28th 2020.</ref>

== History ==

The [[GDP per capita]]<ref>[http://earthtrends.wri.org/text/economics-business/variable-638.html EarthTrends -> Economics, Business, and the Environment -> Variable -> Searchable Database Results: Economics, Business, and the Environment — GDP: GDP per capita, Units: Current US$ per person] {{webarchive |url=https://web.archive.org/web/20080131140920/http://earthtrends.wri.org/text/economics-business/variable-638.html |date=January 31, 2008 }}</ref> of Senegal shrank by 1.30% in the 1960s. However, it registered a peak growth of 158% in the 1970s, and still expanded 43% in the turbulent 1980s. However, this proved unsustainable and the economy consequently shrank by 40% in the 1990s.

=== IMF and 1990s economic reforms ===

Since the January 1994 CFA franc devaluation, the [[International Monetary Fund]] (IMF), the [[World Bank]], and other multilateral and creditors have been supporting the Government of Senegal's structural and sectoral adjustment programs. The broad objectives of the program have been to facilitate growth and development by reducing the role of government in the economy, improving public sector management, enhancing incentives for the private sector, and reducing poverty.

In January 1994, [[Senegal]] undertook a radical economic reform program at the behest of the international donor community. This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the [[French franc]]. Government price controls and subsidies have been steadily dismantled as another economic reform.

This currency devaluation had severe social consequences, because most essential goods were imported. Overnight, the price of goods such as milk, rice, fertilizer and machinery doubled. As a result, Senegal suffered a large exodus, with many of the most educated people and those who could afford it choosing to leave the country.

After an economic contraction of 2.1% in 1993, Senegal made an important turnaround, thanks to the reform program, with a growth in [[GDP]] averaging over 5% annually during 1995–2004. Annual [[inflation]] had been pushed down to the low single digits.

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. Senegal still relies heavily upon outside donor assistance, however. Under the IMF's [[Highly Indebted Poor Countries]] debt relief program, Senegal will benefit from eradication of two-thirds of its bilateral, multilateral, and private sector debt, contingent on the completion of privatization program proposed by the government and approved by the IMF.

== Current state of economy ==
Two thirds of Senegalese expect living conditions to improve in the coming decades.<ref>The Economist, March 28th 2020, page 4.</ref>

===External trade and investment===

The [[commercial fishing|fishing]] sector has replaced the [[peanut|groundnut]] sector as Senegal's export leader. Its export earnings reached U.S.$239 million in 2000. The industrial fishing operations struggle with high costs, and Senegalese [[tuna]] is rapidly losing the French market to more efficient Asian competitors.

[[Rock phosphate|Phosphate]] production, the second major foreign exchange earner, has been steady at about U.S.$95 million. Exports of peanut products reached U.S.$79 million in 2000 and represented 11% of total export earnings. Receipts from tourism, the fourth major foreign exchange earner, have picked up since the January 1994 devaluation. In 2000, some 500,000 tourists visited Senegal, earning the country $120 million.

Senegal's new ''Agency for the Promotion of Investment'' (APIX) plays a pivotal role in the government's foreign investment program. Its objective is to increase the investment rate from its current level of 20.6% to 30%. Currently, there are no restrictions on the transfer or repatriation of capital and income earned, or investment financed with convertible foreign exchange. Direct U.S. investment in Senegal remains about U.S.$38 million, mainly in petroleum marketing, pharmaceuticals manufacturing, chemicals, and banking. Economic assistance, about U.S.$350 million a year, comes largely from [[France]], the IMF, the World Bank, and the [[United States]]. [[Canada]], [[Italy]], [[Japan]], and [[Germany]] also provide assistance.

Senegal has well-developed though costly port facilities, a major international airport serving 23 international airlines, and direct and expanding [[telecommunications]] links with major world centers.

===Indebtedness===
With an external debt of U.S.$2,495 million,<ref>2006</ref> and with its economic reform program on track, Senegal qualified for the multilateral [[debt relief]] initiative for [[Heavily Indebted Poor Countries]] (HIPC). Progress on structural reforms is on track, but the pace of reforms remains slow, as delays occur in implementing a number of measures on the privatization program, [[good governance]] issues, and the promotion of private sector activity.

Macroeconomic indicators show that Senegal turned in a respectable performance in meeting IMF targets in 2000: annual GDP growth increased to 5.7%, compared to 5.1% in 1999. Inflation was reported to be 0.7% compared to 0.8% in 1999, and the current account deficit (excluding transfers) was held at less than 6% of GDP.

===Trade unions===
{{Further|Trade unions in Senegal}}

Senegalese trade unions include The [[National Confederation of Senegalese Workers]] (CNTS) and its affiliate the [[Dakar Dem Dikk Workers Democratic Union]] (Dakar Public Transport workers), The
[[Democratic Union of Senegalese Workers]] (UTDS), The General Confederation Of Democratic Workers Of Senegal (CGTDS) and the [[National Union of Autonomous Trade Unions of Senegal]] (UNSAS). Mean wages were $0.99 per [[man-hour]] in 2009.

===Stock exchange===
Senegal's corporations are included in the [[BRVM|Bourse Régionale des Valeurs Mobilières SA]] (BRVM), a regional [[stock exchange]] serving the following eight West African countries, and located in [[Abidjan, Cote d'Ivoire]].

==Regional and international economic groupings==

*[[Organization of African Unity]] (OAU)/Africa Union
*The [[Franc Zone]]
*The [[Lomé Convention]]
*[[Economic Community of West African States]] (ECOWAS)
*[[West African Economic and Monetary Union|Union économique et monétaire Ouest Africaine]] (UEMOA)
*The [[African Groundnut Council]]
*the [[Organisation pour la mise en valeur du fleuve Sénégal]]

==Statistics==
<ref>{{CIA World Factbook|year=2014}}</ref>
[[Image:2006Senegalese exports.PNG|thumb|450px|Senegal's export destinations, 2006.]]
[[File:GDP_per_capita_development_in_Senegal_and_Gambia.svg|thumb|Historical development of real GDP per capita in Senegal, since 1950]]
;;GDP (purchasing power parity)
U.S.$43.24 billion (2017 est.)

;;GDP (official exchange rate)
U.S.$16.46 billion (2017 est.)

;;GDP - real growth rate
7.2% (2017 est.)

;;GDP - per capita (PPP)
$2,700 (2017 est.)

;;GDP - composition by sector
agriculture: 16.9% industry: 24.3% services: 58.8% (2017 est.)

;;Population below poverty line
46.7% (2011 est.)

;;Household income or consumption by percentage share
lowest 10%: 2.5% highest 10%: 31.1% (2011)

;;Inflation rate (consumer prices)
1.4% (2017 est.)

;;Investment (gross fixed)
41% of GDP (2006 est.)

;;Labor force
6.966 million (2017 est.)

;;Labor force - by occupation
agriculture: 77.5% industry and services: 22.5% (2007 est.)

;;Unemployment rate
48%; note - urban youth 40% (2001 est.)

;;Distribution of family income - [[Gini index]]
40.3 (2011)

;;Budget
;;;revenues: U.S.$3.863 billion
;;;expenditures: U.S.$4.474 billion (2017 est.)

;;Public debt
61.2% of GDP (2017 est.)

;;Industries
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, construction materials, ship construction and repair

;;Industrial production growth rate
8.4% (2017 est.)

;;Electricity - production
3.673 billion kWh (2015 est.)

;;Electricity - consumption
3.014 billion kWh (2015 est.)

;;Electricity - exports
0 kWh (2016)

;;Electricity - imports
0 kWh (2016)

;;Oil - production
{{convert|0|oilbbl/d|abbr=on}} (2004 est.)

;;Oil - consumption
{{convert|35000|oilbbl/d|abbr=on}} (2007 est.)

;;Natural gas - production
62 million cu m (2015 est.)

;;Natural gas - consumption
60 million cu m (2015 est.)

;;Natural gas - exports
0 cu m (2013 est.)

;;Natural gas - imports
0 cu m (2013 est.)

;;Current Account Balance
U.S.-$1.547 billion (2017 est.)

;;Agriculture - products
peanuts, millet, maize, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish

;;Exports
U.S.$2.546 billion (2017 est.)

;;Exports - commodities
fish, groundnuts (peanuts), petroleum products, phosphates, cotton

;;Exports - partners
Mali 14.8%, Switzerland 11.4%, India 6%, Cote dIvoire 5.3%, UAE 5.1%, Gambia, The 4.2%, Spain 4.1% (2017)

;;Imports
U.S.$5.227 billion (2017 est.)

;;Imports - commodities
food and beverages, capital goods, fuels

;;Imports - partners
France 16.3%, China 10.4%, Nigeria 8%, India 7.2%, Netherlands 4.8%, Spain 4.2% (2017)

;;Reserves of foreign exchange and gold
U.S.$151.8 million (31 December 2017 est.)

;;Debt - external
U.S.$6.745 billion (31 December 2017 est.)

;;Economic aid - recipient
U.S.$449.6 million (2003 est.)

;;Currency (code)
[[West African CFA franc|Communaute Financiere Africaine franc]] (XOF); note - responsible authority is the [[Central Bank of West African States]]

;;Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar - 617.4 (2017), 593.01 (2016), 593.01 (2015), 591.45 (2014), 494.42 (2013) 522.89 (2006), 527.47 (2005), 528.29 (2004), 581.2 (2003), 696.99 (2002).
In 2006, 1 € = 655.82 XOF (West-African CFA), or 1 XOF = 0.001525 € / [https://web.archive.org/web/20041010053913/http://finance.yahoo.com/currency/convert?amt=1&from=EUR&to=XAF&submit=Convert € to XOF] / [https://web.archive.org/web/20080502022717/http://finance.yahoo.com/currency/convert?amt=1 XOF to €]

;;Fiscal year
calendar year

=== Macro-economic trends ===

This is a chart of trend of gross domestic product of Senegal at market prices [http://www.imf.org/external/pubs/ft/weo/2006/01/data/dbginim.cfm estimated] by the [[International Monetary Fund]] with figures in millions of CFA Francs.

{| class="wikitable"
|-
! Year || Gross Domestic Product || US Dollar Exchange || Inflation Index (2000=100)
|-
| 1980 || 652,221 || 211.27 CFA Francs || ?
|-
| 1985 || 1,197,462 || 449.32 CFA Francs || 66
|-
| 1990 || 1,603,679 || 272.27 CFA Francs || 66
|-
| 1995 || 2,309,091 || 499.15 CFA Francs || 93
|-
| 2000 || 3,192,019 || 709.96 CFA Francs || 100
|-
| 2005 || 4,387,230 || 526.55 CFA Francs || 107
|}
Average wages in 2007 hover around $4–5 per day.

The following table shows the main economic indicators in 1980–2021. Inflation below 5% is in green<ref>{{cite web|title=Report for Selected Countries and Subjects|url=https://www.imf.org/external/pubs/ft/weo/2018/01/weodata/weorept.aspx?pr.x=53&pr.y=9&sy=1980&ey=2023&scsm=1&ssd=1&sort=country&ds=.&br=1&c=722&s=NGDP_RPCH,PPPGDP,PPPPC,PCPIPCH,GGXWDG_NGDP&grp=0&a=|access-date=2018-09-07|language=en-US}}</ref>
{| class="wikitable" style="text-align:center;"
!Year
!GDP<br /><small>(in Bil. US$PPP)</small>
!GDP per capita<br /><small>(in US$ PPP)</small>
!GDP
<small>(in bil. US$ nominal)</small>
!GDP growth<br /><small>(real)</small>
!Inflation rate<br /><small>(in Percent)</small>
!Government debt<br /><small>(in % of GDP)</small>
|-
|1980
|6.0
|1,069
|4.3
| {{Decrease}}-0.8%
|{{IncreaseNegative}}8.8%
|n/a
|-
|1981
|{{Increase}}6.9
|{{Increase}}1,197
|{{Decrease}}3.9
|{{Increase}}5.1%
|{{IncreaseNegative}}5.8%
|n/a
|-
|1982
|{{Increase}}8.0
|{{Increase}}1,333
|{{Increase}}3.9
|{{Increase}}7.8%
|{{IncreaseNegative}}17.4%
|n/a
|-
|1983
|{{Decrease}}7.8
|{{Decrease}}1,274
|{{Decrease}}3.4
| {{Decrease}}-5.3%
|{{IncreaseNegative}}11.7%
|n/a
|-
|1984
|{{Increase}}8.4
|{{Increase}}1,330
|{{Decrease}}3.4
|{{Increase}}3.7%
|{{IncreaseNegative}}11.7%
|n/a
|-
|1985
|{{Increase}}9.0
|{{Increase}}1,376
|{{Increase}}3.7
|{{Increase}}3.3%
|{{IncreaseNegative}}13.0%
|n/a
|-
|1986
|{{Increase}}9.4
|{{Increase}}1,404
|{{Increase}}5.2
|{{Increase}}3.1%
|{{IncreaseNegative}}6.1%
|n/a
|-
|1987
|{{Increase}}10.2
|{{Increase}}1,481
|{{Increase}}6.2
|{{Increase}}6.1%
| {{DecreasePositive}}-4.1%
|n/a
|-
|1988
|{{Increase}}10.5
|{{Decrease}}1,479
|{{Increase}}6.2
| {{Decrease}}-0.6%
| {{DecreasePositive}}-1.8%
|n/a
|-
|1989
|{{Increase}}11.4
|{{Increase}}1,551
|{{Decrease}}6.1
|{{Increase}}4.0%
|{{Increase}}0.4%
|n/a
|-
|1990
|{{Increase}}11.7
|{{Increase}}1,553
|{{Increase}}7.1
| {{Decrease}}-0.7%
|{{Increase}}0.3%
|n/a
|-
|1991
|{{Increase}}12.4
|{{Increase}}1,601
|{{Decrease}}7.0
|{{Increase}}2.6%
| {{DecreasePositive}}-1.8%
|n/a
|-
|1992
|{{Increase}}12.9
|{{Increase}}1,613
|{{Increase}}7.4
|{{Increase}}1.2%
|{{Increase}}0.0%
|n/a
|-
|1993
|{{Increase}}13.4
|{{Increase}}1,625
|{{Decrease}}7.0
|{{Increase}}1.3%
| {{DecreasePositive}}-0.7%
|n/a
|-
|1994
|{{Increase}}13.6
|{{Decrease}}1,610
|{{Decrease}}4.7
| {{Decrease}}-0.2%
|{{IncreaseNegative}}32.1%
|n/a
|-
|1995
|{{Increase}}14.8
|{{Increase}}1,698
|{{Increase}}6.0
|{{Increase}}6.1%
|{{IncreaseNegative}}8.1%
|n/a
|-
|1996
|{{Increase}}15.3
|{{Increase}}1,717
|{{Increase}}6.3
|{{Increase}}1.9%
|{{Increase}}2.8%
|71.0%
|-
|1997
|{{Increase}}16.0
|{{Increase}}1,751
|{{Decrease}}5.9
|{{Increase}}2.7%
|{{Increase}}1.8%
|{{DecreasePositive}}67.8%
|-
|1998
|{{Increase}}17.1
|{{Increase}}1,833
|{{Increase}}6.4
|{{Increase}}6.0%
|{{Increase}}1.0%
|{{DecreasePositive}}18.8%
|-
|1999
|{{Increase}}18.4
|{{Increase}}1,925
|{{Increase}}6.6
|{{Increase}}6.0%
|{{Increase}}0.8%
|{{DecreasePositive}}15.0%
|-
|2000
|{{Increase}}19.6
|{{Increase}}1,997
|{{Decrease}}6.0
|{{Increase}}3.9%
|{{Increase}}0.8%
|{{IncreaseNegative}}57.5%
|-
|2001
|{{Increase}}20.9
|{{Increase}}2,080
|{{Decrease}}6.5
|{{Increase}}4.3%
|{{Increase}}3.1%
|{{DecreasePositive}}53.2%
|-
|2002
|{{Increase}}21.2
|{{Decrease}}2,063
|{{Increase}}7.0
|{{Increase}}0.1%
|{{Increase}}2.4%
|{{DecreasePositive}}52.0%
|-
|2003
|{{Increase}}22.8
|{{Increase}}2,167
|{{Increase}}8.8
|{{Increase}}5.6%
|{{Increase}}0.0%
|{{DecreasePositive}}42.9%
|-
|2004
|{{Increase}}24.5
|{{Increase}}2,270
|{{Increase}}10.1
|{{Increase}}4.6%
|{{Increase}}0.5%
|{{DecreasePositive}}38.0%
|-
|2005
|{{Increase}}26.4
|{{Increase}}2,381
|{{Increase}}11.0
|{{Increase}}4.3%
|{{Increase}}1.7%
|{{DecreasePositive}}36.1%
|-
|2006
|{{Increase}}27.9
|{{Increase}}2,447
|{{Increase}}11.7
|{{Increase}}2.3%
|{{Increase}}2.1%
|{{DecreasePositive}}17.5%
|-
|2007
|{{Increase}}29.4
|{{Increase}}2,517
|{{Increase}}14.0
|{{Increase}}2.8%
|{{IncreaseNegative}}5.9%
|{{IncreaseNegative}}19.0%
|-
|2008
|{{Increase}}31.1
|{{Increase}}2,590
|{{Increase}}16.9
|{{Increase}}3.7%
|{{IncreaseNegative}}6.3%
|{{IncreaseNegative}}19.1%
|-
|2009
|{{Increase}}32.1
|{{Increase}}2,606
|{{Decrease}}16.1
|{{Increase}}2.8%
| {{DecreasePositive}}-2.2%
|{{IncreaseNegative}}29.9%
|-
|2010
|{{Increase}}33.6
|{{Increase}}2,653
|{{Increase}}16.1
|{{Increase}}3.4%
|{{Increase}}1.2%
|{{IncreaseNegative}}34.6%
|-
|2011
|{{Increase}}34.8
|{{Increase}}2,670
|{{Increase}}17.8
|{{Increase}}1.3%
|{{Increase}}3.4%
|{{DecreasePositive}}32.9%
|-
|2012
|{{Increase}}36.7
|{{Increase}}2,739
|{{Decrease}}17.7
|{{Increase}}4.0%
|{{Increase}}1.4%
|{{IncreaseNegative}}34.5%
|-
|2013
|{{Increase}}37.8
|{{Increase}}2,742
|{{Increase}}18.9
|{{Increase}}2.4%
|{{Increase}}0.7%
|{{IncreaseNegative}}36.9%
|-
|2014
|{{Increase}}40.1
|{{Increase}}2,831
|{{Increase}}19.8
|{{Increase}}6.2%
| {{DecreasePositive}}-1.1%
|{{IncreaseNegative}}42.4%
|-
|2015
|{{Increase}}43.3
|{{Increase}}2,971
|{{Decrease}}17.8
|{{Increase}}6.4%
|{{Increase}}0.9%
|{{IncreaseNegative}}44.5%
|-
|2016
|{{Increase}}46.1
|{{Increase}}3,076
|{{Increase}}19.0
|{{Increase}}6.4%
|{{Increase}}1.2%
|{{IncreaseNegative}}47.5%
|-
|2017
|{{Increase}}49.4
|{{Increase}}3,204
|{{Increase}}21.0
|{{Increase}}7.4%
|{{Increase}}1.1%
|{{IncreaseNegative}}61.1%
|-
|2018
|{{Increase}}53.7
|{{Increase}}3,389
|{{Increase}}23.1
|{{Increase}}6.2%
|{{Increase}}0.5%
|{{IncreaseNegative}}61.5%
|-
|2019
|{{Increase}}57.2
|{{Increase}}3,510
|{{Increase}}23.4
|{{Increase}}4.6%
|{{Increase}}1.0%
|{{IncreaseNegative}}63.6%
|-
|2020
|{{Increase}}58.7
|{{Decrease}}3,504
|{{Increase}}24.5
|{{Increase}}1.3%
|{{Increase}}2.5%
|{{IncreaseNegative}}69.2%
|-
|2021
|{{Increase}}64.8
|{{Increase}}3,767
|{{Increase}}27.6
|{{Increase}}6.1%
|{{Increase}}2.2%
|{{IncreaseNegative}}73.2%
|}

== See also ==

* [[Senegal]]
* [[Tourism in Senegal]]
* [[Agriculture in Senegal]]
* [[Communications in Senegal]]
* [[Transport in Senegal]]
* [[Economy of Africa]]
* [[CFA franc]]
* [[United Nations Economic Commission for Africa]]

== References ==
{{Reflist}}

==External links==
* {{in lang|fr}} [http://www.finances.gouv.sn/ Official Website: Republique du Senegal: MINISTÈRE DE L'ECONOMIE ET DES FINANCES] {{Webarchive|url=https://web.archive.org/web/20210907220651/http://www.finances.gouv.sn/ |date=2021-09-07 }}.
* {{in lang|fr}} [https://web.archive.org/web/20080421154005/http://www.gouv.sn/annuaire/detail_dep.cfm?sigle=MEF Annuaire des services administratifs, Republique du Senegal: MINISTÈRE DE L'ECONOMIE ET DES FINANCES].
* [http://goliath.ecnext.com/coms2/gi_0199-6899682/SENEGAL-CHINESE-GOODS-STIMULATE-INFORMAL.html SENEGAL: CHINESE GOODS STIMULATE INFORMAL TRADING ECONOMY]. Interpress Service, Publication Date: 28-AUG-07.
* [https://www.cia.gov/the-world-factbook/countries/senegal/ Senegal]. ''[[The World Factbook]]''. [[Central Intelligence Agency]].
* François Boye. [https://web.archive.org/web/20080216021709/http://alpha.montclair.edu/~lebelp/CERAFRM024Boye1990.pdf A Retrospective Analysis of the Senegalese Economy, December 1990]: Conference paper from School of Business, Montclair State University.
* [http://www.trademap.org/open_access/Index.aspx?proceed=true&reporter=686 Senegal latest trade data on ITC Trade Map]
* The Senegalese [[Country commercial guides|Country Commercial Guide]], published by the [[United States government]] to aid the export of US products to foreign markets, can be found at: [http://www.buyusainfo.net/z_body.cfm?dbf=ccg1%2Cbmr1%2Cmrsearch1&search_type2=int&avar=19999&country=Senegal&logic=and&loadnav=no Senegalese Country Commercial Guides].
* [https://web.archive.org/web/20051217122530/http://www.unido-aaitpc.org/unido-aaitpc/new1/senegal/country-guide-buss-sen.html Wages of Senegalese workers]
* Institute for Security Studies [https://web.archive.org/web/20080310030546/http://www.iss.co.za/af/profiles/Senegal/Economy.html Senegal Economic Summary], 2001.
* [http://www.le-senegal.com Senegal Commerce Business and Trading]: Republic of Senegal. (/)
* [http://africa.oneworld.net/article/archive/5329 Senegal: Economy.] {{Webarchive|url=https://web.archive.org/web/20080216032608/http://africa.oneworld.net/article/archive/5329 |date=2008-02-16 }} Aggregated press articles at OneWorldAfrica
* African Studies, Columbia University: [http://www.columbia.edu/cu/lweb/indiv/africa/cuvl/SGecon.html Senegal, Banking and investment information].
* [http://www.resimao.org West African Agricultural Market Observer/Observatoire du Marché Agricole  (RESIMAO)], a project of the West-African Market Information Network (WAMIS-NET),  provides live market and commodity prices from fifty seven regional and local public agricultural markets across Benin, Burkina Faso, Côte d'Ivoire, Guinea, Niger, Mali, Senegal, Togo, and Nigeria.  Sixty commodities are tracked weekly. The project is run by the Benin Ministry of Agriculture, and a number of European, African, and United Nations agencies.
* [http://wits.worldbank.org/CountryProfile/Country/SEN/Year/2012/Summary World Bank Summary Trade Statistics Senegal]

=== Published works ===
* Amadou Sakho. [https://web.archive.org/web/20080304040927/http://www.afrol.com/Countries/Senegal/backgr_ldc.htm Senegal's slide from "model economy" to "least developed country"]. Misanet.com / IPS (2001).
* Birahim Bouna Niang. [https://web.archive.org/web/20080216021710/http://www.uneca.org/debtforum/English%20version-Radioscopie%20de%20la%20dette.pdf A diagnosis of Senegal's public external debt, Provisional report]. Republic of Senegal Ministry of Economy and Finance, Political Economy Unit (UPE). January 2003.
* Pamela Cox. The Political Economy of Underdevelopment: Dependence in Senegal. African Affairs, Volume 79, Number 317. pp.&nbsp;603–605
* Maghan Keita. The Political Economy of Health Care in Senegal, Journal of Asian and African Studies, Vol. 31, No. 3-4, 145-161 (1996)
* John Waterbury and Mark Gersovitz, eds., The political economy of risk and choice in Senegal. Frank Cass & Co. Ltd, London, (1987) {{ISBN|0-7146-3297-X}}
* Christopher L. Delgado, Sidi Jammeh. The Political Economy of Senegal Under Structural Adjustment. School of Advanced International Studies, Johns Hopkins University (1991). {{ISBN|0-275-93525-6}}
* Cathy L. Jabara, Robert L. Thompson. Agricultural Comparative Advantage under International Price Uncertainty: The Case of Senegal. [[American Journal of Agricultural Economics]], Vol. 62, No. 2 (May, 1980), pp.&nbsp;188–198
* Peter Mark. Urban Migration, Cash Cropping, and Calamity: The Spread of Islam among the Diola of Boulouf (Senegal), 1900–1940. African Studies Review, Vol. 21, No. 2 (Sep., 1978), pp.&nbsp;1–14
* Monique Lakroum. Le Travail Inegal: Paysans et Salaries Senegalais Face à la Crise des Annees Trente. Paris (1982).
* Ibrahima Thioub, Momar-Coumba Diop, Catherine Boone. Economic Liberalization in Senegal: Shifting Politics of Indigenous Business Interests. African Studies Review, Vol. 41, No. 2 (Sep., 1998), pp.&nbsp;63–89
* Catherine Boone. Merchant Capital and the Roots of State Power in Senegal, 1930–1985, McGill, (1995).
* {{in lang|fr}} Jean Copans, Philippe Couty, Jean Roch, G. Rocheteau. Maintenance sociale et changement economique au Senegal I: Doctrine economique et pratique du travail chez les Mourides. Paris (1974).

{{Senegal topics}}
{{Africa in topic|Economy of}}
{{World Trade Organization}}

[[Category:Economy of Senegal| ]]
[[Category:World Trade Organization member economies|Senegal]]
[[Category:African Union member economies|Senegal]]