Xifres de comerç exterior de Senegal

Foreign Trade in Figures

Senegal is an open economy where foreign trade accounts for 71% of its GDP (World Bank's latest available data). Senegal is a member of the Economic Community of West African States, and the country has trade agreements with several countries, including the EU, the United States, Switzerland, South Korea, Japan, and Australia. Given its growing influence in the African continent, China has become an increasingly important partner of Senegal. The country’s trade policies are designed to help reduce the trade deficit, ensure regular supplies to the domestic market, promote local value chains, strengthen the regional integration process and access to international markets and promote competition. Under the Emerging Senegal Plan, the government seeks to deepen regional integration by further developing the infrastructure network; eliminating barriers to the free movement of persons, goods, and services; and developing intra-community trade. According to Comtrade, in 2023, the country’s main exports were petroleum oils (17.8%), gold (16.3%), diphosphorus pentaoxide and phosphoric acid (13.2%), frozen fish (4.8%), and molluscs (3.8%); while imports were led by petroleum oils (27.9%), rice (4.6%), wheat and meslin (3.1%), and light-vessels, fire-floats, dredgers, floating (3.1%).

In 2023, Senegal's exports were primarily directed towards the African continent (43.7%), Europe (24.6%), and Asia (19.4%). Despite the trade agreement related to AGOA and the diversification of exports, the share for the Americas remains low (3.8%) compared to the top three destinations. On a country level, the main export destinations in 2023 were Mali (19.9%), India (15.2%), Switzerland (11.6%), China (4.0%), Australia (3.9%), and Spain (3.6%); whereas imports came chiefly from China (10.0%), France (9.2%), India (7.5%), Belgium (6.3%), and Spain (6.1% - data Comtrade). The main continents that supplied Senegal remained Europe (44.6%) and Asia (30.5%). They are followed by Africa (16.8%), the Americas (6.3%), and Oceania (0.4% - data ANSD).

Senegalese foreign trade is characterized by a structural current account deficit, which historically represents more than 10% of GDP. However, offshore oil production should help narrow the deficit in the medium term. In 2023, imports of goods decreased to USD 11 billion (-8.3% y-o-y) while exports of goods stood at USD 5.43 billion (-6.9% y-o-y – WTO). The overall trade balance was estimated to be in deficit by 25% of GDP by the World Bank (from 26.3% one year earlier). According to preliminary figures from the ANSD, in the period Jan-Sep 2024, exports totalled XOF 2,696 billion against XOF 5,164 billion in imports.