Economy - overview:
Senegal relies heavily on donor assistance and foreign direct investment. 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. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to an economic reform program backed by the donor community, which led to real growth in GDP averaging over 5% annually during 1995-2007. Annual inflation was pushed down to the single digits. The global economic downturn reduced growth to 2.2% in 2009. The IMF completed a non-dispersing, Policy Support Initiative program in 2010 and approved a new three-year policy support instrument in December 2010 to assist with economic reforms. Senegal also receives disbursements from a $540 million Millennium Challenge Account for infrastructure and agriculture development. In 2012, the economy began to rebound after a weak 2011. The economy continues to suffer from unreliable power supply, which has led to public protests and high unemployment and has prompted migrants to flee Senegal in search of better job opportunities in Europe.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Senegal on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Senegal Economy 2014 information contained here. All suggestions for corrections of any errors about Senegal Economy 2014 should be addressed to the CIA.
$26.29 billion (2012 est.)
country comparison to the world: 119
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$13.89 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
3.5% (2012 est.)
country comparison to the world: 98
[see also: GDP - real growth rate country ranks ]
$2,000 (2012 est.)
country comparison to the world: 193
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
19.3% of GDP (2012 est.)
country comparison to the world: 79
[see also: Gross national saving country ranks ]
household consumption: 80.5%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
9%
investment in fixed capital:
30.8%
investment in inventories:
0%
exports of goods and services:
25.3%
imports of goods and services:
-46.2%
agriculture: 15%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
22.9%
services:
62.1% (2012 est.)
peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining; iron ore, zircon, and gold mining, construction materials, ship construction and repair
0.1% (2012 est.)
country comparison to the world: 136
[see also: Industrial production growth rate country ranks ]
5.91 million (2012 est.)
country comparison to the world: 67
[see also: Labor force country ranks ]
agriculture: 77.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services:
22.5% (2007 est.)
48% (2007 est.)
country comparison to the world: 193
[see also: Unemployment rate country ranks ]
54% (2001 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
30.1% (2005)
41.3 (2001)
country comparison to the world: 54
[see also: Distribution of family income - Gini index country ranks ]
revenues: $3.271 billion
[see also: Budget revenues country ranks ]
expenditures:
$4.094 billion (2012 est.)
23.5% of GDP (2012 est.)
country comparison to the world: 139
[see also: Taxes and other revenues country ranks ]
-5.9% of GDP (2012 est.)
country comparison to the world: 173
[see also: Budget surplus (+) or deficit (-) country ranks ]
38.8% of GDP (2012 est.)
country comparison to the world: 92
[see also: Public debt country ranks ]
calendar year
1.4% (2012 est.)
country comparison to the world: 27
[see also: Inflation rate (consumer prices) country ranks ]
0.25% (31 December 2010 est.)
country comparison to the world: 90
[see also: Central bank discount rate country ranks ]
14.3% (31 December 2012 est.)
country comparison to the world: 49
[see also: Commercial bank prime lending rate country ranks ]
$3.577 billion (31 December 2012 est.)
country comparison to the world: 110
[see also: Stock of narrow money country ranks ]
$5.818 billion (31 December 2012 est.)
country comparison to the world: 122
[see also: Stock of broad money country ranks ]
$4.509 billion (31 December 2012 est.)
country comparison to the world: 116
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
$-1.618 billion (2012 est.)
country comparison to the world: 131
[see also: Current account balance country ranks ]
$2.382 billion (2012 est.)
country comparison to the world: 138
[see also: Exports country ranks ]
fish, groundnuts (peanuts), petroleum products, phosphates, cotton
Mali 14.4%, Switzerland 14.1%, India 11.9%, France 4.7%, Guinea 4.2% (2012)
$5.733 billion (2012 est.)
country comparison to the world: 124
[see also: Imports country ranks ]
food and beverages, capital goods, fuels
France 16.2%, Nigeria 12.9%, India 6.3%, China 6.3%, UK 4.6% (2012)
$2.082 billion (31 December 2012 est.)
country comparison to the world: 120
[see also: Reserves of foreign exchange and gold country ranks ]
$4.221 billion (31 December 2012 est.)
country comparison to the world: 128
[see also: Debt - external country ranks ]
Communaute Financiere Africaine francs (XOF) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14