Senegal--Economy
CIA FactbookThe World Factbook 1993: Senegal Economy

Overview: The agricultural sector accounts for about 12% of GDP and provides employment for about 80% of the labor force. About 40% of the total cultivated land is used to grow peanuts, an important export crop. Another principal economic resource is fishing, which brought in about 23% of total foreign exchange earnings in 1990. Mining is dominated by the extraction of phosphate, but production has faltered because of reduced worldwide demand for fertilizers in recent years. Over the past 10 years tourism has become increasingly important to the economy.

National product: GDP - exchange rate conversion - $5.4 billion (1991 est.)

National product real growth rate: 1.2% (1991 est.)

National product per capita: $780 (1991 est.)

Inflation rate (consumer prices): 2% (1990)

Unemployment rate: NA%

Budget: revenues $921 million; expenditures $1,024 million; including capital expenditures of $14 million (FY89 est.)

Exports: $904 million (f.o.b., 1991 est.) commodities: manufactures 30%, fish products 23%, peanuts 12%, petroleum products 16%, phosphates 9% partners: France, other EC members, Mali, Cote d'Ivoire, India Imports: $1.2 billion (c.i.f., 1991 est.) commodities: semimanufactures 30%, food 27%, durable consumer goods 17%, petroleum 12%, capital goods 14% partners: France, other EC, Cote d'Ivoire, Nigeria, Algeria, China, Japan

External debt: $2.9 billion (1990)

Industrial production: growth rate 4.7% (1989); accounts for 15% of GDP

Electricity: 215,000 kW capacity; 760 million kWh produced, 100 kWh per capita (1991)

Industries: agricultural and fish processing, phosphate mining, petroleum refining, building materials

Agriculture: major products - peanuts (cash crop), millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; estimated two-thirds self-sufficient in food; fish catch of 354,000 metric tons in 1990

Illicit drugs: increasingly active as a transshipment point for Southwest Asian heroin moving to Europe and North America

Economic aid: US commitments, including Ex-Im (FY70-89), $551 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $5.23 billion; OPEC bilateral aid (1979-89), $589 million; Communist countries (1970-89), $295 million

Currency: 1 CFA franc (CFAF)=100 centimes

Exchange rates: Communaute Financiere Africaine francs (CFAF) per US$1 - 274.06 (January 1993), 264.69 (1992), 282.11 (1991), 272.26 (1990), 319.01 (1989), 297.85 (1988)

Fiscal year: 1 July-30 June; in January 1993, Senegal will switch to a calendar year