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Senegal Economy 2013
http://www.theodora.com/wfbcurrent/senegal/senegal_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 5, 2013

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-dispursing, 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):
$26.5 billion (2012 est.)
country comparison to the world: 118

$25.56 billion (2011 est.)
$24.91 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$13.95 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2012 est.)
country comparison to the world: 94

2.6% (2011 est.)
4.1% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,900 (2012 est.)
country comparison to the world: 194

$2,000 (2011 est.)
$2,000 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 15.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 22.7%
services: 61.9% (2012 est.)

Labor force:
5.852 million (2012 est.)
country comparison to the world: 66
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 77.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 22.5% (2007 est.)

Unemployment rate:
48% (2007 est.)
country comparison to the world: 193
[see also: Unemployment rate country ranks ]

Population below poverty line:
54% (2001 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.1% (2005)

Distribution of family income - Gini index:
41.3 (2001)
country comparison to the world: 53

41.3 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
24.8% of GDP (2012 est.)
country comparison to the world: 51
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $3.307 billion
[see also: Budget revenues country ranks ]
expenditures: $4.112 billion (2012 est.)

Taxes and other revenues:
23.7% of GDP (2012 est.)
country comparison to the world: 134
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.8% of GDP (2012 est.)
country comparison to the world: 168
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
33.6% of GDP (2012 est.)
country comparison to the world: 107

32.7% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.5% (2012 est.)
country comparison to the world: 23

3.4% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.25% (31 December 2010 est.)
country comparison to the world: 89

4.25% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.3% (31 December 2012 est.)
country comparison to the world: 50

14.5% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.538 billion (31 December 2012 est.)
country comparison to the world: 114

$3.254 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$5.818 billion (31 December 2012 est.)
country comparison to the world: 123

$5.35 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.315 billion (31 December 2012 est.)
country comparison to the world: 118

$4.186 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish

Industries:
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining; iron ore, zircon, and gold mining, construction materials, ship construction and repair

Industrial production growth rate:
4.9% (2011 est.)
country comparison to the world: 67
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$1.298 billion (2012 est.)
country comparison to the world: 121

-$1.685 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$2.458 billion (2012 est.)
country comparison to the world: 139

$2.416 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
fish, groundnuts (peanuts), petroleum products, phosphates, cotton

Exports - partners:
Mali 21.9%, India 12.4%, France 4.6%, Italy 4.2% (2011)

Imports:
$5.109 billion (2012 est.)
country comparison to the world: 129

$5.398 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
food and beverages, capital goods, fuels

Imports - partners:
France 16.7%, China 9.6%, UK 8.4%, Nigeria 8.3%, Netherlands 5.8%, US 4.8% (2011)

Reserves of foreign exchange and gold:
$2.25 billion (31 December 2012 est.)
country comparison to the world: 118

$1.946 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.117 billion (31 December 2012 est.)
country comparison to the world: 128

$4.068 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar -

511.4 (2012 est.)
471.33 (2011 est.)
495.28 (2010)
472.19 (2009)
447.81 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Senegal on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Senegal Economy 2013 information contained here. All suggestions for corrections of any errors about Senegal Economy 2013 should be addressed to the CIA.


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