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| Economy overview | In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. This reform began with a 50% devaluation of Senegal's currency, the CFA franc, which was linked at a fixed rate to the French franc. Government price controls and subsidies have been steadily dismantled. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to the reform program, with real growth in GDP averaging 5% annually during 1995-2003. Annual inflation had been pushed down to the low single digits. As a member of the West African Economic and Monetary Union (WAEMU), Senegal is working toward greater regional integration with a unified external tariff. Senegal also realized full Internet connectivity in 1996, creating a miniboom in information technology-based services. Private activity now accounts for 82% of GDP. On the negative side, Senegal faces deep-seated urban problems of chronic unemployment, trade union militancy, juvenile delinquency, and drug addiction. |
| GDP | purchasing power parity - $17.09 billion (2004 est.) |
| GDP - real growth rate | 5.5% (2004 est.) |
| GDP - per capita | purchasing power parity - $1,600 (2004 est.) |
| GDP - composition by sector |
agriculture: 16.8% industry: 27.2% services: 56% (2004 est.) |
| Investment gross fixed | 21.3% of GDP (2004 est.) |
| Population below poverty line | 54% (2001 est.) |
| Household income or consumption by percentage share |
lowest 10%: 2.6% highest 10%: 33.5% (1995) |
| Distribution of family income - Gini index | 41.3 (1995) |
| Inflation rate consumer prices | 0% (2004 est.) |
| Labor force | 4.62 million NA (2004 est.) |
| Labor force by occupation | agriculture 70% |
| Unemployment rate | 48% (urban youth 40%) (2001 est.) |
| Budget |
revenues: $1.304 billion expenditures: $1.367 billion, including capital expenditures of $357 million (2004 est.) |
| Public debt | 54.2% of GDP (2004 est.) |
| 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, construction materials |
| Industrial production growth rate | 2.9% (2004 est.) |
| Electricity production | 1.518 billion kWh (2001) |
| Electricity production by source |
fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0% |
| Electricity consumption | 1.412 billion kWh (2001) |
| Electricity exports | 0 kWh (2001) |
| Electricity imports | 0 kWh (2001) |
| Oil production | 0 bbl/day (2001 est.) |
| Oil consumption | 31,000 bbl/day (2001 est.) |
| Oil exports | NA (2001) |
| Oil imports | NA (2001) |
| Oil proved reserves | |
| Natural gas production | 50 million cu m (2001 est.) |
| Natural gas consumption | 50 million cu m (2001 est.) |
| Natural gas exports | 0 cu m (2001 est.) |
| Natural gas imports | 0 cu m (2001 est.) |
| Natural gas proved reserves | |
| Current account balance | $-389 million (2004 est.) |
| Exports | $1.23 billion f.o.b. (2004 est.) |
| Exports commodities | fish, groundnuts (peanuts), petroleum products, phosphates, cotton |
| Exports partners | India 13%, France 12.2%, Mali 9.5%, Italy 8.5%, Cote d'Ivoire 5.4%, Spain 5% (2003) |
| Imports | $1.753 billion f.o.b. (2003 est.) |
| Imports commodities | foods and beverages, capital goods, fuels |
| Imports partners | France 24.9%, Nigeria 12.2%, Thailand 6.7%, Spain 4.3% (2003) |
| Reserves of foreign exchange gold | $780 million (2004 est.) |
| Debt external | $3.009 billion (2004 est.) |
| Economic aid recipient | $362.6 million (2002 est.) |
| Currency | Communaute Financiere Africaine franc (XOF); note - responsible authority is the Central Bank of the West African States |
| Currency code | XOF |
| Exchange rates | Communaute Financiere Africaine francs (XOF) per US dollar - 581.2 (2003), 696.988 (2002), 733.039 (2001), 711.976 (2000), 615.699 (1999) |
| Fiscal year | calendar year |
Introduction and Background to Senegal | Geography Of Senegal | People Of Senegal | Government Of Senegal | Communications Of Senegal | Transportation Of Senegal | Military Of Senegal | Transnational Issues Of Senegal
Senegalese Flag Map Of Senegal Wolof language
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