Solid growth, stable fundamentals

C2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2022.

Swipe to view more

GDP
USD24,9bn (World ranking 104, World Bank 2020)
Population
16,74mn (World ranking 69, World Bank 2020)
Form of state Semi-presidential republic
Head of government

Macky Sall

Next elections

2024, presidential

  • Relatively good regional and international relations.
  • Membership of the West African Monetary Union (WAMU) and the CFA franc zone provide relative monetary stability, a common currency and access to a regional central bank. Low exchange rate and transfer risk.
  • Considerable debt relief under the HIPC initiative in 2004 and Multilateral Debt Relief Initiative in 2006.
  • Market-friendly reforms helped to improve Doing Business ranking
  • Strong potential to become a net oil exporter in the medium run.
  • Vulnerability to climatic effects on agricultural output and to changes in internationally-determined commodity prices.
  • Uncertain regional influences include a border with Mali.
  • Large current account deficits.
  • Implementation of structural reforms sometimes slow.
  • Despite improvement, business environment still shows a high level of government intervention, a bureaucratic regulatory environment and an inefficient judiciary.

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
Mali 24.4%
1
17.6% China
Switzerland 11.7%
2
11.5% France
India 8.3%
3
5.9% Nigeria
China 7.1%
4
5.9% Netherlands
Australia 4.9%
5
5.0% Belgium

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Gold, non-monetary (excluding gold ores and concentrates) 19.3%
1
18.6% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 15.8%
2
8.3% Cereals and cereal preparations
Fish, crustaceans, molluscs and preparations thereof 12.2%
3
5.2% Road vehicles
Inorganic chemicals 7.2%
4
3.9% Electrical machinery, apparatus and appliances, n.e.s.
Oil seeds and oleaginous fruits 5.6%
5
3.9% Iron and steel
The payment behavior in Senegal is poor, with payment terms usually stating 30 days, while payments are typically made within 60 days in practice.

  • Low

  • Medium

  • Sensitive

  • High

  • Payments

  • Court proceedings

  • Insolvency proceedings

  • Payments

  • Court proceedings

  • Insolvency proceedings

Late payments are susceptible to a 1% interest charge, though a judge can impose a different rate following assessment of the damage suffered by the creditor.

The Civil Law in Senegal is inherited from the French Civil Law, which also features case law and customary law adaptations.

Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa