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.
Although Senegal’s economy took a smaller hit in 2020 than its peers, employment and household income still came under severe pressure, and these economic stresses showed up in the street riots in March (even though the proximate cause was political). The outlook for consumer spending is less rosy than for the rest of the economy, as agriculture, FDI (with a special focus on oil and logistics) and trade are holding up well. (Source: Senegal Quarterly Update, April 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-6.9 |
|
Consumer Price Index (% change y-o-y, avg) |
2.5 |
|
Current Account Balance (as a % of GDP) |
-11.3 |
|
Real GDP (annual % change) |
-0.5 |
|
GDP per Capita, US$ |
1,445.2 |
|
Import Cover (months) |
4.06 |
|
Population, million |
16.7 |
| Total External Debt (as a % of GDP) |
104.5 |