Overview: In 2018 Senegal was the number 110 economy in the world in terms of GDP (current US$), the number 120 in total exports, the number 97 in total imports, and the number 88 most complex economy according to the Economic Complexity Index (ECI). In 2018, Senegal exported $3.89B and imported $11.1B, resulting in a negative trade balance of -$7.23B. In 2018, Senegal's exports per capita were $245 and its imports per capita were $701.
In 2018 Senegal exported a total of $3.89B, making it the number 120 exporter in the world. During the last five reported years the exports of Senegal have changed by $1.11B from $2.78B in 2013 to $3.89B in 2018.
In 2018 Senegal imported $11.1B, making it the number 97 trade destination in the world. During the last five reported years the imports of Senegal changed by $3.57B from $7.55B in 2013 to $11.1B in 2018.
In 2018, Senegal exported $1.4B worth of services. The top services exported by Senegal in 2018 were Personal travel ($396M), Computer and information services ($206M), Government services, n.i.e. ($205M), Other business services ($197M), and Transportation ($162M).
The top services imported by Senegal in 2018 were Transportation ($935M), Other business services ($177M), Insurance services ($135M), Computer and information services ($124M), and Personal travel ($91M).
This section shows forecasts for total product exports and imports for Senegal. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Senegal are:136: Most Favoured Nation duty rate treatement323: Preferential tariff for UEMOA (French: Union Economique et Monétaire Ouest-Africaine)
During the last 14 years Senegal's economy has become relatively less complex, moving from the 66th to the 88th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
The top export opportunities for Senegal according to the relatedness index, are Crude Petroleum (0.23), Cocoa Beans (0.21), Bananas (0.2), Molasses (0.2), and Petroleum Gas (0.2). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Senegal is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Senegal
