Senegal

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Senegal’s economy is driven by mining, construction, tourism, fisheries and agriculture which is the primary source of employment in rural areas. The country's key export industries include phosphate mining, fertilizer production, agricultural products and commercial fishing and it is also working on oil exploration projects. Senegal relies heavily on donor assistance, remittances and foreign direct investment. President Macky SALL, who was elected in March 2012 under a reformist policy agenda, inherited an economy with high energy costs, a challenging business environment, and a culture of overspending. Senegal received technical support from the IMF in 2010-2014 under a Policy Support Instrument to assist economic reform through sound macroeconomic and fiscal policies to reduce the fiscal deficit, increase transparency and facilitate private investment. President SALL unveiled an ambitious economic plan, the Emerging Senegal Plan, which aims to implement priority economic reforms and investment projects to increase economic growth. Bureaucratic bottlenecks and a challenging business climate are among the perennial challenges that may slow the implementation of this plan. Investors have signaled confidence in the country through Senegal’s successful Eurobond issuances in recent years, including in 2014..

$33.61 billion (2014 est.)
$32.15 billion (2013 est.)
$31.06 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 119
4.5% (2014 est.)
3.5% (2013 est.)
3.4% (2012 est.)
country comparison to the world: 59
$2,300 (2014 est.)
$2,200 (2013 est.)
$2,100 (2012 est.)
note: data are in 2013 US dollars
country comparison to the world: 199
household consumption: 73.1%
government consumption: 16.6%
investment in fixed capital: 23.5%
investment in inventories: 4.2%
exports of goods and services: 21.1%
imports of goods and services: -38.5%
(2014 est.)
agriculture: 15.6%
industry: 23.8%
services: 60.6% (2014 est.)
24.2% of GDP (2014 est.)
country comparison to the world: 125
-5.2% of GDP (2014 est.)
country comparison to the world: 174
$2.462 billion (2014 est.)
$2.563 billion (2013 est.)
country comparison to the world: 139
$5.481 billion (2014 est.)
$5.698 billion (2013 est.)
country comparison to the world: 125
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