Senegal: economy

How fast is Senegal's economy growing?

Senegal's real GDP grew 6.7% in 2025 after 6.5% in 2024, and growth is projected at 2.7% for 2026, according to a 1 September 2026 communiqué from the Ministry of Economy, Finance and Planning. The ministry links recent growth to the start of oil and gas production.

The ministry says 2026 growth has been reduced by tighter public finances and by the war in the Middle East, which weighed on public and private investment and on energy spending. Growth outside hydrocarbons is much lower: a ministry presentation to creditors shows non-hydrocarbon growth of 2.4% in 2025 and 2.6% projected for 2026. GDP has also been rebased, raising the 2025 level by 20% to 25,767 billion CFA francs.

Official sources: communiqué from the Ministry of Economy, Finance and Planning · presentation to creditors

What is the inflation rate in Senegal?

Consumer prices in Senegal rose 1.2% in the year to August 2026, up from 0.3% in July, according to the BCEAO's Monthly Statistical Bulletin for August 2026. Average inflation was 1.4% in 2025 and 0.8% in 2024.

The figures are based on the harmonised consumer price index compiled by Senegal's national statistics agency (ANSD) and reported by the regional central bank. The August pick-up follows a rise in pump prices from 15 August 2026. Across the eight-country West African Economic and Monetary Union, inflation was 1.3% in August. The BCEAO's economic conditions note records the 15 August rise of 7.6% for petrol and 11.0% for diesel as one cause of the August increase.

Official sources: Monthly Statistical Bulletin for August 2026 · economic conditions note

What are interest rates in Senegal?

The BCEAO's minimum bid rate for liquidity auctions is 3.00% and its marginal lending rate is 5.00%, in force since 16 March 2026, according to the BCEAO website. Senegal uses the CFA franc and shares these rates with the other West African Economic and Monetary Union members.

Bank lending rates are higher. The BCEAO's Monthly Statistical Bulletin shows average lending rates in Senegal in August 2026 of 5.34% for non-financial companies and 7.31% for households. The same table shows a rate of 7.65% for consumer loans and 7.38% for property loans.

Official sources: BCEAO website · Monthly Statistical Bulletin

What does Senegal export and what is its trade balance?

Senegal's goods exports rose 49.2% in 2025 while imports fell 1.1%, cutting the trade deficit from 12.0% of GDP in 2024 to 1.5% in 2025, according to the Ministry of Economy, Finance and Planning's multi-year budget programme (DPBEP) 2027-2029.

The ministry attributes the change mainly to the start of oil and gas exports. The current account deficit fell from 11.5% of GDP to 1.2% over the same period, helped by hydrocarbons, services and higher remittances from Senegalese abroad. The ministry also reports a 2.0% loss of price competitiveness in 2025, mainly because the CFA franc rose against partners' currencies.

Official sources: multi-year budget programme (DPBEP) 2027-2029

What is Senegal's economic growth rate?

In 2025, real GDP growth in Senegal was 6.7%, according to the World Bank. The peak was 7.4% in 2017 and the low 1.3% in 2011. Sub-Saharan Africa median: 4.6%; Senegal is 7th highest of 46. Worldwide: 20th of 180.

How rich is Senegal per person?

In 2025, GDP per person in Senegal was $1,955, according to the World Bank. No year since 2005 has been higher. Sub-Saharan Africa median: $1,351; Senegal is 20th highest of 46. World rank, highest first: 149th of 180.

What is Senegal's GDP per capita at PPP?

According to the World Bank, GDP per person at purchasing power parity in Senegal was $5,463 in international dollars in 2025. It is the top of the series, which starts in 2005. Across Sub-Saharan Africa the middle value was $4,425 in international dollars, and Senegal placed 20th highest of 46. Of 179 countries with 2025 data, 146th highest.

How big are Senegal's exports?

32.5% of GDP: that is exports of goods and services in Senegal for 2025, according to the World Bank. It is the top of the series, which starts in 2005. It is 14th highest of 38 in Sub-Saharan Africa, where the median is 26.1% of GDP. World rank, highest first: 72nd of 133.

Does Senegal have a current account surplus or deficit?

The IMF puts the current account balance in Senegal at -19.8% of GDP in 2023, a deficit. Since 2005 it has ranged from -19.9% of GDP (2022) to -3.7% of GDP (2010). Across Sub-Saharan Africa the middle value was -5.1% of GDP, and Senegal placed 40th highest of 40. Worldwide: 165th of 172.

How much foreign direct investment goes into Senegal?

According to the IMF, net inflows of foreign direct investment in Senegal was 0.1% of GDP in 2025. That is the lowest since at least 2005. Sub-Saharan Africa median: 2.0% of GDP; Senegal is 42nd highest of 46. World rank, highest first: 157th of 179.

What interest rate do banks charge in Senegal?

The IMF puts the average bank lending rate in Senegal at 5.3% in 2016. Since 2005 it has ranged from 4.7% (2006) to 7.0% (2005). Across Sub-Saharan Africa the middle value was 11.6%, and Senegal placed 28th highest of 35. World rank, highest first: 100th of 128.