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The French colonies of Senegal and the French Sudan were merged in 1959 and granted their independence as the Mali Federation in 1960. The union broke up after only a few months. Senegal joined with The Gambia to form the nominal confederation of Senegambia in 1982. The envisaged integration of the two countries was never carried out, and the union was dissolved in 1989. The Movement of Democratic Forces in the Casamance (MFDC) has led a low-level separatist insurgency in southern Senegal since the 1980s, and several peace deals have failed to resolve the conflict. Nevertheless, Senegal remains one of the most stable democracies in Africa and has a long history of participating in international peacekeeping and regional mediation. Senegal was ruled by a Socialist Party for 40 years until Abdoulaye WADE was elected president in 2000. He was reelected in 2007 and during his two terms amended Senegal's constitution over a dozen times to increase executive power and to weaken the opposition. His attempt to change the constitution in June 2011 prompted large public protests and his decision to run for a third presidential term sparked a large public backlash that led to his defeat in a March 2012 runoff election with Macky SALL.


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Economy

Economy - overview
Senegal relies heavily on donor assistance. The country's key export industries are phosphate mining, fertilizer production, and commercial fishing. The country is also working on iron ore and oil exploration projects. In January 1994, Senegal undertook a bold and ambitious economic reform program with the support of the international donor community. Government price controls and subsidies have been steadily dismantled. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to the reform program, with real growth in GDP averaging over 5% annually during 1995-2007. Annual inflation had been pushed down to the single digits. The country was adversely affected by the global economic downturn in 2009, when GDP growth fell to 2.2%. As a member of the West African Economic and Monetary Union, Senegal is working toward greater regional integration with a unified external tariff and a more stable monetary policy. High unemployment, however, continues to prompt migrants to flee Senegal in search of better job opportunities in Europe. Under the IMF''s Highly Indebted Poor Countries (HIPC) debt relief program, Senegal benefited from eradication of two-thirds of its bilateral, multilateral, and private-sector debt. In 2007, Senegal and the IMF agreed to a new, non-disbursing, Policy Support Initiative program which was completed in 2010. The IMF approved a new three-year policy support instrument in December 2010 to assist with economic reforms. Senegal receives disbursements from the $540 million Millennium Challenge Account compact it signed in September 2009 for infrastructure and agriculture development. In 2010, the Senegalese people protested against frequent power cuts. The government pledged to expand power capacity by 2012 and to promote renewable energy, but until Senegal has more capacity, more protests are likely. Foreign investment in Senegal is retarded by Senegal''s unfriendly business environment.

Gdp (purchasing power parity) World Ranking: 116
$25.47 billion (2011 est.)
$24.83 billion (2010 est.)
$23.84 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$14.46 billion (2011 est.)

Gdp - real growth rate World Ranking: 131
2.6% (2011 est.)
4.1% (2010 est.)
2.1% (2009 est.)

Gdp - per capita (ppp) World Ranking: 192
$1,900 (2011 est.)
$1,900 (2010 est.)
$1,900 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 15%
Industry 22.8%
Services 62.2% (2011 est.)

Labor force World Ranking: 67
5.687 million (2011 est.)

Labor force - by occupation
Agriculture 77.5%
Industry and services 22.5% (2007 est.)

Unemployment rate World Ranking: 192
48% (2007 est.)

Population below poverty line
54% (2001 est.)

Household income or consumption by percentage share
Lowest 10% 2.5%
Highest 10% 30.1% (2005)

Distribution of family income - gini index World Ranking: 54
41.3 (2001)
41.3 (1995)

Investment (gross fixed) World Ranking: 44
24.7% of GDP (2011 est.)

Budget
Revenues $3.321 billion
Expenditures $4.284 billion (2011 est.)

Taxes and other revenues World Ranking: 135
23% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 181
-6.7% of GDP (2011 est.)

Public debt World Ranking: 101
34.6% of GDP (2011 est.)
34.2% of GDP (2010 est.)

Inflation rate (consumer prices) World Ranking: 74
3.4% (2011 est.)
1.2% (2010 est.)

Central bank discount rate World Ranking: 80
0.25% (31 December 2010 est.)
4.25% (31 December 2009 est.)

Commercial bank prime lending rate World Ranking: 48
15% (31 December 2011 est.)
14.5% (31 December 2010 est.)

Stock of narrow money World Ranking: 115
$3.254 billion (31 December 2011 est.)
$3.162 billion (31 December 2010 est.)

Stock of broad money World Ranking: 126
$5.35 billion (31 December 2011 est.)
$5.186 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 118
$4.151 billion (31 December 2011 est.)
$3.771 billion (31 December 2010 est.)

Market value of publicly traded shares
$NA

Agriculture - products
Peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish

Industries
Agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining; iron ore, zircon, and gold mining, construction materials, ship construction and repair

Industrial production growth rate World Ranking: 67
4.9% (2011 est.)

Electricity - production World Ranking: 130
2.232 billion kWh (2008 est.)

Electricity - consumption World Ranking: 138
1.763 billion kWh (2008 est.)

Electricity - exports
0 kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production World Ranking: 121
65.12 bbl/day (2010 est.)

Oil - consumption World Ranking: 103
41,000 bbl/day (2010 est.)

Oil - exports World Ranking: 105
4,550 bbl/day (2009 est.)

Oil - imports World Ranking: 95
36,290 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 188
0 bbl (1 January 2011 est.)

Natural gas - production World Ranking: 83
50 million cu m (2009 est.)

Natural gas - consumption World Ranking: 107
50 million cu m (2009 est.)

Natural gas - exports World Ranking: 174
0 cu m (2009 est.)

Natural gas - imports World Ranking: 124
0 cu m (2009 est.)

Natural gas - proved reserves World Ranking: 124
0 cu m (1 January 2011 est.)

Current account balance World Ranking: 138
-$1.681 billion (2011 est.)
-$1.418 billion (2010 est.)

Exports World Ranking: 134
$2.413 billion (2011 est.)
$1.983 billion (2010 est.)

Exports - commodities
Fish, groundnuts (peanuts), petroleum products, phosphates, cotton

Exports - partners
Mali 22.6%, India 9.2%, France 4.8%, Italy 4.4% (2011)

Imports World Ranking: 124
$5.391 billion (2011 est.)
$4.453 billion (2010 est.)

Imports - commodities
Food and beverages, capital goods, fuels

Imports - partners
France 17.5%, China 10%, UK 8.8%, Nigeria 8.7%, Netherlands 6%, US 5% (2011)

Reserves of foreign exchange and gold World Ranking: 110
$2.635 billion (31 December 2011 est.)
$2.048 billion (31 December 2010 est.)

Debt - external World Ranking: 123
$4.429 billion (31 December 2011 est.)
$3.872 billion (31 December 2010 est.)

Exchange rates
Communaute Financiere Africaine francs (XOF) per US dollar -
471.87 (2011)
495.28 (2010)
472.19 (2009)
447.81 (2008)
481.83 (2007)

Fiscal year
Calendar year


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  Senegal (Dakar):


  GPS points from Senegal (Dakar)


Keur Diata Region De Kaolack

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N'gate Region De Louga

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Pointe De Nikine Region De Ziguinchor




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