In-Depth Analysis
Senegal
The focus of Senegal’s economic growth environment over the medium term will shift towards the expanding mining sector, as oil and gas production are expected to commence in 2023. Infrastructure development is also improving the operating environment.
From a health perspective, Senegal has been able to deal with the Covid-19 pandemic fairly successfully. However, from an economic perspective, the country will continue to feel the effects for some years to come. We expect the economy to contract this year. The contraction will be exacerbated by the imposed curfew, border closures, social distancing measures and global developments, which are expected to have a significant impact on local trade, tourism, investment and consumption. Nonetheless, a decade of robust economic growth has set the country up to bounce back quicker than most other countries on the continent. (Source: Senegal Quarterly Update, June 2020)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-3.7 |
|
Consumer Price Index (% change y-o-y, avg) |
1.0 |
|
Current Account Balance (as a % of GDP) |
-8.3 |
|
Real GDP (annual % change) |
5.2 |
|
GDP per Capita, US$ |
1,490.9 |
|
Import Cover (months) |
4.5 |
|
Population, million |
16.3 |
| Total External Debt (as a % of GDP) |
85.5 |