Countries
Senegal
Key Economic Indicators
$93.82 billion
$5,071
6.06%
0.8%
2.74%
$32.267 billion (2024 est.)
47.8% of GDP (2016 est.)
$-6,071,838,779
Economic Overview
lower middle-income, services-driven West African economy; key mining, construction, agriculture, and fishing industries; tourism and exports hit hard by COVID-19; large informal economy; developing offshore oil and gas fields; systemic corruption
All Economic Data
Agricultural products
rice, groundnuts, watermelons, millet, cassava, sugarcane, maize, sorghum, onions, milk (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$9.267 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$7.749 billion (2023 est.)
Currency
code:
XOF
name:
West African CFA franc (XOF) [Fr]
Current account balance
$-6,071,838,779
Current account balance 2021:
-$3.327 billion (2021 est.)
Current account balance 2022:
-$5.542 billion (2022 est.)
Current account balance 2023:
-$6.072 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$47.15 billion
Debt - external 2023:
$14.985 billion (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
Communaute Financiere Africaine francs (XOF) per US dollar -
Exchange rates 2020:
575.586 (2020 est.)
Exchange rates 2021:
554.531 (2021 est.)
Exchange rates 2022:
623.76 (2022 est.)
Exchange rates 2023:
606.57 (2023 est.)
Exchange rates 2024:
606.345 (2024 est.)
Exports
$8.1 billion
Exports 2021:
$6.78 billion (2021 est.)
Exports 2022:
$7.418 billion (2022 est.)
Exports 2023:
$7.001 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
gold, refined petroleum, phosphoric acid, fish, cement (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Mali 21%, India 12%, Switzerland 11%, China 5%, UAE 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$2.02 billion
GDP - composition, by end use
Exports of goods and services:
28.1% (2024 est.)
Government consumption:
16.4% (2024 est.)
Household consumption:
65.8% (2024 est.)
Imports of goods and services:
-43.1% (2024 est.)
Investment in fixed capital:
32.1% (2024 est.)
Investment in inventories:
0.8% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
15.5% (2024 est.)
Industry:
25.4% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
49.1% (2024 est.)
GDP (official exchange rate)
$32.267 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$1,773
Gini Index coefficient - distribution of family income
40.3 (2011)
Gini Index coefficient - distribution of family income 2021:
36.2 (2021 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$31.83 billion
GNI per capita
$1,680
Gross domestic investment
37 % of GDP
Household income or consumption by percentage share
Highest 10%:
28.8% (2021 est.)
Lowest 10%:
3% (2021 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$14.25 billion
Imports 2021:
$12.278 billion (2021 est.)
Imports 2022:
$14.698 billion (2022 est.)
Imports 2023:
$14.916 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, crude petroleum, rice, garments, wheat (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 19%, France 9%, Nigeria 7%, India 7%, Russia 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
20% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, zircon, and gold mining, construction materials, ship construction and repair
Inflation rate (consumer prices)
0.8%
Inflation rate (consumer prices) 2022:
9.7% (2022 est.)
Inflation rate (consumer prices) 2023:
5.9% (2023 est.)
Inflation rate (consumer prices) 2024:
0.8% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
5.763 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
6.13 million persons
Labor force - by occupation
agriculture:
29.58%
industry:
22.5%
services:
47.92%
Population below poverty line
37.5%
Public debt
Public debt 2016:
47.8% of GDP (2016 est.)
Real GDP (purchasing power parity)
$93.82 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$74.642 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$77.82 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$83.183 billion (2024 est.)
Real GDP growth rate
6.06%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
3.9% (2022 est.)
Real GDP growth rate 2023:
4.3% (2023 est.)
Real GDP growth rate 2024:
6.9% (2024 est.)
Real GDP per capita
$5,071
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$4,200 (2022 est.)
Real GDP per capita 2023:
$4,300 (2023 est.)
Real GDP per capita 2024:
$4,500 (2024 est.)
Remittances
$3.75 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
11.3% of GDP (2021 est.)
Remittances 2022:
10.5% of GDP (2022 est.)
Remittances 2023:
10.6% of GDP (2023 est.)
Revenue (excl grants)
24 % of GDP
Tax revenue
20 % of GDP
Taxes and other revenues
19.5% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
2.74%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
2.9% (2022 est.)
Unemployment rate 2023:
2.8% (2023 est.)
Unemployment rate 2024:
3% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
6.3% (2024 est.)
Male:
3.2% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
4.1% (2024 est.)
World Bank Indicators
Currency
Singapore dollar (SGD) $ (2025)
Languages
English, Chinese, Malay, Tamil (2025)
Economic Rankings
External Debt
#31
GDP Growth Rate
#48
Gini Index
#66
Inflation Rate
#77
GDP (PPP)
#102
Imports
#105
GDP (Nominal)
#108
Exports
#124
Unemployment Rate
#152
GDP per Capita
#155
Quick Facts
Industries
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, zircon, and gold mining, construction materials, ship construction and repair
Agricultural products
rice, groundnuts, watermelons, millet, cassava, sugarcane, maize, sorghum, onions, milk (2023)
Labor force
5.763 million (2024 est.)
Exports - partners
Mali 21%, India 12%, Switzerland 11%, China 5%, UAE 4% (2023)
Imports - partners
China 19%, France 9%, Nigeria 7%, India 7%, Russia 5% (2023)
Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar -
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