Senegal GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

3.3

Units In

3.4

Frequency

Quarterly

Next Release

Apr 03, 2025

Time to Release

3 Months 0 Days 8 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

The economy of Senegal grew by 11.5% year-on-year in Q3 2024, a notable jump from the 3.9% rise in the previous three-month period. This robust expansion was largely driven by the secondary sector (+38.9%), particularly extractive activities (+452.7%), electricity production (+12.1%), construction (+5.8%), and water and waste management (+5.2%). Agro-food production also saw growth (+2.4%), mainly driven by bread, pastries, and meat processing. However, declines in petroleum refining and coke production (-12.1%) held back the sector’s overall performance. Both the primary (+5.2%) and tertiary (+4%) sectors contributed as well. Additionally, taxes net of subsidies on products rose by 0.9%. On the demand side, economic activity was fueled by a 65% increase in exports and a 4.3% rise in final consumption, while imports and gross fixed capital formation declined by 13.2% and 4.8%, respectively. On a seasonally adjusted quarterly basis, real GDP increased by 8.9% in Q3.