The prices of products imported into Senegal recorded a slight increase of 0.3% in September 2024 compared to the previous month, reports the National Agency for Statistics and Demography (ANSD).
This increase is mainly attributable to the appreciation in the prices of mineral products (+1.4%), machines and appliances (+0.2%), and animal or vegetable fats and oils (+0.2%).
However, this increase was partially offset by the drop in prices of plant products (-1.0%) and transport equipment (-0.5%). Year-on-year, the prices of imported products fell by 7.9% compared to September 2023. Over the first nine months of 2024, they showed an overall decline of 6.6% compared to the same period of 2023, explains the ANSD in its latest bulletin.
Prices of mineral products increased by 3% in September, mainly due to the increase in prices of petroleum products (+5.4%). Imports from the Netherlands, in particular, exploded by +30.1%. However, the drop in prices of crude petroleum oil imported from Nigeria (-6.0%) limited the extent of this increase. On an annual basis, prices of mineral products fell by 7.5%, with a decline of 9.3% over the first nine months of 2024.
As for machines and devices, their prices increased by 3.5%, supported by a surge in the prices of telephone devices (+31%), particularly those imported from Hong Kong (+84.1%), France (+84.1%), +46.2%), and the United Kingdom (+45.7%). Compared to September 2023, prices in this category show a decrease of 14.5%, but over the first three quarters of 2024, they increase by 1.8%.
For animal or vegetable fats and oils, the ANSD notes an 8.7% increase in prices, driven by the increase in the prices of palm oil (+12%), mainly imported from Indonesia (+33 %) and Ivory Coast (+10.7%). Year-on-year, the prices of fats and oils fell by 13.5%, with a decline of 9.7% over the first nine months of the year.
At the same time, prices of vegetable products fell by 6.5%, mainly due to the drop in prices of rice (-7.7%), imported from Thailand (-16.2%) and India (-5.6%). In annual comparison, prices fell by 12.6%, with a decline of 6.8% over the first nine months of 2024.
A notable drop of 8% was recorded in September for transport equipment, linked to the reduction in prices of passenger vehicles (-7.1%), particularly those imported from France (-35.8%), as well as utility vehicles (-27.1%). Over one year, the prices of transport equipment fell by 5.5%, with a drop of 7.9% over the first three quarters of 2024.
Regarding exports, the prices of precious stones and gold increased by 3.1% in September, supported by an increase in gold exported to Switzerland (+3.5%). However, the drop in gold prices destined for the United Arab Emirates (-1.2%) reduced this increase. Year-on-year, prices in this category jumped 23.5%, and 15.3% over the first nine months of 2024.
Exports from this section recorded an increase of 4.5%, driven by the increase in prices of oilseeds and fruits (+42.3%), mainly destined for China (+57.4%). However, the drop in prices of rice exported to Guinea-Bissau (-47.8%) has attenuated this trend. Compared to September 2023, prices increased by 13.4%, and by 4.7% over the first nine months of the year.
Prices of chemical industry products increased by 1.1%, notably thanks to the increase in prices of phosphoric acid (+1.2%) exported to India (+2.1%). In annual comparison, these prices fell by 0.4%, with a decrease of 5.4% over the first three quarters of 2024.
Despite generally favorable variations for certain products, the significant fluctuations in import and export prices reflect the structural challenges facing Senegal, notably its dependence on international markets. Better cost control and import-export strategies could mitigate the impact of variations on the national economy.
TE/APA
