Senegal saw its real gross domestic product (GDP), adjusted for seasonal variations (Cvs), increase by 8.9% in the third quarter of 2024, compared to the previous quarter. The National Agency for Statistics and Demography (Ansd), which makes this information public, explains the reasons for the increase.
She emphasizes that it results mainly from the increase in the added value of the secondary sector (+32.1%) and, to a lesser extent, those of the primary (+4.6%) and tertiary (+1.3%) sectors. %). In addition, the same source indicates that taxes net of subsidies on products increased by 3.3%. At the time, non-oil GDP increased by 2.1%.
Regarding the components of demand, the Ansd confides that exports jumped by 65.9% while imports fell by 8.3%. In addition, an increase in gross fixed capital formation (+3.8%) and overall final consumption (+1.9%) is noted.
Increase of 11.5% compared to the third quarter of 2023
Compared to the same period of 2023, real GDP for the third quarter of 2024 increased by 11.5%. This increase is mainly explained, according to the Ansd, by the jump in activities in the secondary sectors (+38.9%), combined with the increase in added values in the primary sectors (+5.2%), tertiary (+4 .0%) as well as net taxes on goods and services (+0.9%).
From a demand perspective, economic activity in the third quarter of 2024, compared to the same quarter of the previous year, was mainly supported by the increase in exports (+65.0%) and final consumption ( +4.3%), in real terms. On the other hand, imports and gross fixed capital formation recorded declines of 13.2 and 4.8%, respectively.
The National Agency for Statistics and Demography finally reports that the nominal gross domestic product is estimated at 4,815.0 billion CFA francs in the third quarter of 2024.
Bassirou MBAYE
Senegal
