Senegal GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

3.3

Units In

3.4

Frequency

Quarterly

Next Release

Jul 01, 2025

Time to Release

2 Months 29 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
10.7 Jun 2021	-6.55 Dec 1969	3.83 %	1961-2022	N/A

The largest sector of Senegal's economy is services, accounting for 62 percent of total GDP, of which internal trade (19 percent); administration, education and health (12 percent); communications (11 percent); and real estate activities (6 percent). The industrial sector represents 23 percent of the GDP, with construction (7 percent); food industries (5 percent); other industries (4 percent) and energy (3 percent) accounting for the biggest share. Also, the primary sector contributes to 15 percent of GDP, mostly agriculture (9 percent) and livestock activities (4 percent).

Latest Updates

Senegal’s economy grew by a robust 11.6% year-on-year in Q4 2024, building on an 11.5% increase in the previous quarter. The increase was primarily driven by strong growth in the secondary sector (+38.7%), fueled by oil extraction, and the tertiary sector (+4.5%). Additionally, taxes, net of subsidies on products, rose by 7.5%. However, this overall growth was tempered by a decline in the primary sector (-1.1%). Excluding oil, real GDP growth stood at 3.3%. On the demand side, the upturn in economic activity during Q4 2024, compared to the same period in the previous year, was reflected in a significant increase in exports of goods and services (+107.0%), gross fixed capital formation (+6.4%), and final consumption (+3.4%). Considering the 2024 year as a whole, the GDP grew by 6.9%.