Xifres de comerç exterior de Senegal

Foreign Trade in Figures

Senegal is an open economy where foreign trade accounts for 80% of its GDP (World Bank's latest available data). According to Comtrade, in 2022, the country’s main exports were petroleum oils (17.8%), gold (16.3%), diphosphorus pentoxide and phosphoric acid (13.2%), frozen fish (excl. fish fillets, 4.8%), and molluscs (3.8%). Meanwhile, main imports included petroleum oils (27.9%), rice (4.6%), wheat and meslin (3.1%), and light-vessels (3.1%).

The country's main export destinations in 2022 were Mali (19.9%), India (15.2%), Switzerland (11.6%), China (4.0%), and Australia (3.9%); whereas imports came chiefly from China (10.0%), France (9.2%), India (7.5%), Belgium (6.3%), and Spain (6.1% - data Comtrade). 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.

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 2022, imports of goods increased to USD 10 billion (+11.3% y-o-y) while exports of goods stood at USD 5.4 billion (+4% y-o-y – WTO). In the same year, the country imported services for the total value of USD 3.5 billion while its services exports amounted to USD 1.1 billion. The overall trade balance was estimated to be in deficit by 26% of GDP by the World Bank (from 19.9% in 2021).