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.
The Senegalese economy has proven to be more resilient than previously expected. Both the tertiary and the secondary sectors are holding up well, indicative of healthy domestic consumption. We are accordingly more optimistic about GDP than we were in June. In turn, the political environment is generally calm, but there are currents under the surface. The dynamics that drove the extraordinary protest action in March of this year are still present – in fact, they will only have been amplified by high levels of inflation (and food price inflation especially) in recent months. (Source: Senegal Annual Country Profile, October 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-6.5 |
|
Consumer Price Index (% change y-o-y, avg) |
2.5 |
|
Current Account Balance (as a % of GDP) |
-12.5 |
|
Real GDP (annual % change) |
2.1 |
|
GDP per Capita, US$ |
1,442.5 |
|
Import Cover (months) |
4.78 |
|
Population, million |
16.7 |
| Total External Debt (as a % of GDP) |
99.8 |