Sénégal’s Economy

by Grayson Klinger

Overview• Imports: $5.391 billion (2011)• Exports: $2.413 billion (2011)• Main exports:– Phosphate mining

• Started in the 40s & 50s– Commercial fishing– Vast unexplored mineral resources

• GDP: $27.72 billion, $2,100 per capita (2013)

More Statistics• Composition of GDP (as of 2013):

– Agriculture 14.9%– Industry 22.7%– Services 62.4%

• Industrial Production growth rate-3% (100th in the world)

• Labor force: 6.096 million (67th in the world)– 77.5% agriculture, 22.55 industry &service

• Unemployment- 48% (194th in the world)• Population below poverty line- 54%• Budget defecit- (-5.3%)

Currency• West African CFA Franc– 1 Euro= 656 CFA Francs– Euros are generally accepted by hotels

• CFA-Communaute Financiere Africaine

Agriculture• 50% of population• 15% of GDP• Highly vulnerable to natural hazards• Commercial fishing• Peanuts, black-eyed peas, cassava,

watermelons, millet, rice and corn & Livestock

• Peanuts and cotton are the main cash crops

Acacia Senegal (Gum Arabic)

• Biggest Markets in Europe, USA, and India

• Used in production of cosmetics and preparation of food

Developing Industry• 23% of GDP• Relies on privatization for stability• Receives monetary aid from World

Bank & other international agencies• Slowed by faulty power grid

Senegal Airlines• Founded in 2009• 15 destinations available in Africa

Growing Infrastructure• 62% of GDP• Telecommunications employs less

than agriculture, but accounts for a much larger portion of the GDP

Government Intervention

Sources• https://www.cia.gov/library/publications/the-w• http://www.senegalairlines.aero/content/notre-reseauorld-factb

ook/geos/sg.html• http://www.mediaguinee.net/images/rub17/calb6966b_jpg.jpg• http://www.senegal.co.uk/Docs/Travel-Info/Know-Before-You-Go

/Currency.aspx• http://upload.wikimedia.org/wikipedia/commons/3/35/Cfa_map

_fr.png• http://www.gouv.sn/Pavillon-National-du-Senegal.html• http://www.reportlinker.com/r0660/Senegal-industry-reports.ht

ml• http://www.africanmining.com/country_info.php?id=32• http://www.travelblog.org/Photos/3700067• http://www.rnw.nl/africa/article/food-prices-soaring-african-mar

kets• http://www.britannica.com/EBchecked/topic/534445/Senegal/5

5050/Economy