According to data published by the National Agency for Statistics and Demography and reported by the journal ConfidentielDakarSenegal’s trade fell by 6.1% in 2023. This decline comes after a dynamic post-Covid recovery and a year 2022 marked by a spectacular increase of 34% year-on-year.
For the second consecutive year, the trade balance shows a record deficit, reaching -3,983 billion FCFA (around 6.1 billion euros). Between 2021 and 2023, this deficit widened by 60%, reflecting a faster increase in imports (+34%) compared to exports (+11.8%).
This imbalance is largely explained by global inflation, exacerbated by supply chain disruptions linked to the Covid-19 pandemic and the war in Ukraine. The Senegalese economy, particularly dependent on imports of basic products such as food and energy, remains vulnerable to these external shocks.
These data highlight the need for Senegal to diversify its sources of supply and strengthen its local production in order to reduce its dependence on imports and mitigate the impact of global economic fluctuations.
dakaractu
Senegal
