Saturday, June 15, 2024

Senegal Economy 6-15-24

Nominal GDP $31.141B, Per capita GDP $1714.65, Population 17,763,163, Debt to GDP 74.0%, Inflation 16.8%, Unemployment 2.96%, Labor force participation rate 52%, Land area 75,955 sq miles, Agricultural land 49.4%, Urban 50% Rural 50%, Exports $6.2B Imports $16.4B Trade Deficit $10.2B

Exports include petroleum oils (17.8%), gold (16.3%), diphosphorus pentoxide and phosphoric acid (13.2%),

Senegal's major export industries include fish, gold, phosphates, horticulture products, cement, peanuts, and nut oil.

Imports include Refined Petroleum ($2.65B), Special Purpose Ships ($814M), Rice ($657M), Crude Petroleum ($420M), and Wheat ($386M), importing mostly from China ($3.61B), India ($1.25B), France ($1.11B), Belgium ($877M), and Netherlands ($726M).

Comments

Senegal has a low Labor Force Participation rate and should increase its agriculture to reduce imports and provide clean water.

Norb Leahy, Dunwoody GA Tea Party Leader

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