According to data from the National Agency for Statistics and Demography used by the magazine “ConfidentelDakar”, Senegal’s trade fell by 6.1% in 2023, after a very dynamic post-Covid recovery. and a record 2022 (+34% yoy). The trade balance shows a deficit at its highest historic level for the second consecutive year (-3,983 billion FCFA, 6.1 billion EUR), after having deteriorated sharply in 2022. Between 2021 and 2023, the trade balance deficit has increased significantly (+60%) in connection with the greater increase in absolute value and in relative value of imports (+34% between 2023 and 2021) than of exports (+11.8%), This can be explained by the mechanical effect of inflation on the value of trade, due to the disruption of supply chains caused by the Covid-19 pandemic and the war in Ukraine. The Senegalese economy is particularly vulnerable there because of its strength. dependence on imports of basic products (food, energy in particular).
Senegal
