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.
Senegal’s economy got off to a poor start as economic growth slowed considerably in Q1 this year. In addition, we expect economic activity would have slumped even further and contracted during the second quarter. Nevertheless, trade has surprised somewhat as both exports and imports declined by much less than initially expected, while consumer price pressures have intensified in recent months as a result of higher food costs. We still expect the fiscal deficit to widen this year as the stimulus package drives spending. (Source: Senegal Annual Country Profile, September 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) |
-8.6 |
|
Real GDP (annual % change) |
5.3 |
|
GDP per Capita, US$ |
1,446.3 |
|
Import Cover (months) |
4.5 |
|
Population, million |
16.3 |
| Total External Debt (as a % of GDP) |
88.1 |