About

Overview In 2023, Senegal was the number 108 economy in the world in terms of GDP (current US$), the number 125 in total exports, the number 101 in total imports, the number 162 economy in terms of GDP per capita (current US$) and the number 87 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Senegal are Gold ($1.07B), Refined Petroleum ($844M), Phosphoric Acid ($497M), Non-fillet Frozen Fish ($284M), and Cement ($178M), exporting mostly to Mali ($1.22B), India ($681M), Switzerland ($625M), China ($310M), and United Arab Emirates ($251M).

In 2023, Senegal was the world's biggest exporter of Processed Synthetic Staple Fibers ($41M)

Imports The top imports of Senegal are Refined Petroleum ($2.07B), Crude Petroleum ($951M), Rice ($612M), Wheat ($340M), and Cars ($290M), importing mostly from China ($2.93B), France ($1.4B), Nigeria ($1.02B), India ($1.01B), and Russia ($828M).

In 2023, Senegal was the world's biggest importer of Processed Synthetic Staple Fibers ($38.9M)

Location Senegal borders Gambia, Guinea, Guinea-Bissau, Mali, and Mauritania by land and Cape Verde by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Senegal.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Gold$1.07B
Top Destination (2023)Mali$1.22B

In 2023, Senegal exported a total of $5.72B, making it the number 125 exporter in the world. During the last five reported years the exports of Senegal have changed by $944M from $4.78B in 2018 to $5.72B in 2023.

The most recent exports are led by Gold ($1.07B), Refined Petroleum ($844M), Phosphoric Acid ($497M), Non-fillet Frozen Fish ($284M), and Cement ($178M). The most common destination for the exports of Senegal are Mali ($1.22B), India ($681M), Switzerland ($625M), China ($310M), and United Arab Emirates ($251M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Mali$84.4M (+ 7.44%)
Guinea-Bissau$68.9M (+ 77.9%)
United Arab Emirates$67.1M (+ 36.4%)
Fastest Growing Import Markets (2022 - 2023)
Nigeria$536M (+ 112%)
China$446M (+ 18%)
France$325M (+ 30.2%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Senegal Exports Services (2018)$1.4B
Senegal Imports Services (2018)$1.68B

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-0.51Rank 87 of 132
Economic Complexity (Technology)-1.36Rank 88 of 96
Economic Complexity (Research)-0.63Rank 95 of 140

Most Specialized Products by RCA Index

Senegal has a high level of specialization in Phosphoric Acid (328), Titanium Ore (225), Niobium, Tantalum, Vanadium and Zirconium Ore (168), Ground Nuts (142), and Soups and Broths (127). Specialization is measured using RCA, an index that takes the ratio between Senegal observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Senegal according to the relatedness index, were Cocoa Beans (0.19), Bran (0.19), Cassava (0.18), Other Hides and Skins (0.18), and Raw Sugar (0.17). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Senegal is not specialized in.

Product Space

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Senegal. These are products that tend to be co-exported with the products that Senegal exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Senegal's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 87th⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

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