Economy of Senegal
Population: 15.85 M (2018)
GDP per Capita: 1,522 USD (2018)
24,130 M.

GDP USD

(2018)

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5,270 M.

EXPORTS USD

(2018)

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8,710 M.

IMPORTS USD

(2018)

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61.55 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.77 % (2018)
GDP of 2010 USD USD 24.50 B. (2018)
GDP Current USD USD 24.13 B. (2018)
GDP per Capita Current USD USD 1,522 (2018)
GDP per capita, PPP USD 3,356 (2018)
GDP per Capita, 2010 USD USD 1,547 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 13.60 % (2018)
Government Spending USD 3.28 B. (2018)
Government Debt % GDP 61.55 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 111.83 (2018)
Trade Openness 57.94 % (2018)
Exports of Goods and Services % GDP 21.85 % (2018)
Exports Goods & Services USD 5.27 B. (2018)
Exports Annual Growth 7.15 % (2018)
Imports as % GDP 36.09 % (2018)
Total Imports USD 8.71 B. (2018)
Foreign Direct Investment % GDP 2.61 % (2018)
Foreign Direct Investment USD 0.63 B. (2018)
Current Account Balance % GDP USD % (2018)
Current Account Balance USD B. (2018)
Trade Balance % GDP -14.23 % (2018)
Trade Balance USD B. (2018)
Foreign Exchange Reserves incl Gold
Remittances % GDP 9.17 % (2018)
Remittances USD 2,017 M. (2017)
Balance of Payments USD 6 M. (2017)

Labor Market

Indicator Value
Labor Force 4.33 M. (2019)
Unemployment Rate 6.52 % (2019)
Unemployment Rate Females 7.45 % (2019)
Unemployment Rate Males 6.03 % (2019)
Youth Unemployment (ages 15-24) 8.40 % (2019)
Labor Force Participation Rate 46.47 % (2019)
Labor Force (Percent Female) 40.40 % (2019)
Female Labor Force Participation Rate 35.29 % (2019)
Male Labor Force Participation Rate 58.55 % (2019)
Dependent People 85.67 % (2018)

Agriculture Sector

Indicator Value
Forest Area 42.80 % (2016)
Forest Area km² 82,330 km² (2016)
Agricultural Land 46.06 % (2016)
Agricultural Land km² 88,680 km² (2016)
Employment 31.54 % (2019)
Value added % GDP 16.56 % (2018)
Agriculture Value added USD 4.00 B. (2018)
Crop Production Index 155.50 (2016)
Precipitation 686 mm (2014)
Arable Land 17 % (2016)
Cereal Yield 1,275 kg/hectare (2017)
Food production index 149 (2016)
Rural Population 53 % (2018)
Fertilizer use of Arable Land 16 kg/hectare (2016)
Livestock Production Index 125 (2016)
Economy of Senegal

According to the World Bank and its latest published data, the economy of the Senegal presents a growth rate of 6.77 % (2018) to the previous year.

With a population that reaches 15.85 M (2018) and a gross domestic product of USD 24.13 B. (2018), it translates a Gross Domestic Product per Capita of USD 1,522 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Senegal also has a workforce of 4.33 M. (2019) with an unemployment rate of 6.52 % (2019), where women represent 7.45 % (2019) and men 6.03 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.40 % (2019). The total number of dependent people stands at 85.67 % (2018).

The central government spent 13.60 % (2018) of its gross domestic product that year, which in absolute terms is USD 3.28 B. (2018). Its consolidated public debt reached 61.55 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Senegal exported USD 5.27 B. (2018), which represents 21.85 % (2018) of its gross domestic product, in that same sense its imports reached USD 8.71 B. (2018) with a direct foreign investment of USD 0.63 B. (2018).

Senegal has a forest area of 82,330 km² (2016), which represents 42.80 % (2016) of its total area, an average rainfall of 686 mm (2014) per year and a population of 53 % (2018) living in rural areas. With a total area of 88,680 km² (2016) available for agriculture and 31.54 % (2019) of its employments, the agricultural sector contributes to the economy of the Senegal about USD 4.00 B. (2018) (16.56 % (2018) of its GDP).