Senegal’s total trade rose 19.4 percent in 2025 to 13,214.3 billion CFA francs (US$23.76 billion), up from 11,070.5 billion CFA francs (US$19.91 billion) in 2024, according to new data published by the National Agency for Statistics and Demography (ANSD).
The sharp increase was driven by a surge in exports, particularly non-monetary gold and petroleum products, as the country consolidates its position as a new oil producer.
Exports jumped 51.8 percent to 5,935.2 billion CFA francs (US$10.67 billion) in 2025, compared with 3,909.1 billion CFA francs (US$7.03 billion) a year earlier, the ANSD said in its latest foreign trade bulletin.
In December alone, exports reached 825.3 billion CFA francs (US$1.48 billion), up 155 percent from November’s 323.6 billion CFA francs (US$582 million) and 104.1 percent higher than in December 2024. Key destinations included Switzerland, Belgium, Mali, Spain and the United Kingdom.
The statistics agency attributed the strong year-end performance to increased shipments of non-monetary gold, crude oil and refined petroleum products. However, lower exports of phosphates and seafood partly offset the gains.
Imports rose more modestly, edging up 1.6 percent to 7,279.1 billion CFA francs (US$13.09 billion) in 2025, compared with 7,161.4 billion CFA francs (US$12.88 billion) in 2024.
In December, imports fell sharply to 544.8 billion CFA francs (US$980 million), down 24.6 percent year-on-year and 23.6 percent from November’s 713.3 billion CFA francs (US$1.28 billion). The decline reflected reduced purchases of transport equipment, pharmaceutical products and sugar.
Senegal’s main suppliers during the month were China, France, Russia, India and the Netherlands, the ANSD said.
The strong trade figures come amid robust economic growth. The International Monetary Fund estimates that Senegal’s economy expanded by 7.9 percent in 2025, driven largely by oil and gas production and a rebound in agriculture.
Senegal began commercial oil production in 2024, marking a turning point for the West African nation, which has historically relied on agriculture, fisheries and phosphates for export earnings. Analysts say sustained hydrocarbon output, alongside rising gold exports, could significantly reshape the country’s trade balance in the coming years.
Authorities have pledged to manage extractive revenues prudently to support infrastructure development, job creation and economic diversification, while guarding against risks linked to commodity price volatility.
Senegal has traditionally relied on agriculture, fisheries and phosphates as the backbone of its export economy. Groundnuts, seafood and mineral products long dominated trade flows, while the country remained heavily dependent on imports of fuel, machinery and consumer goods.
That structure began to shift with major offshore hydrocarbon discoveries over the past decade. Large oil and gas reserves were found along Senegal’s maritime border with Mauritania, including the Sangomar oil field and the Greater Tortue Ahmeyim (GTA) gas project. Commercial oil production began in 2024, marking Senegal’s entry into the ranks of Africa’s oil-producing nations. Gas production is expected to play a growing role in exports and domestic energy supply.
The start of oil output has significantly altered Senegal’s trade dynamics. Crude oil and refined petroleum products have quickly become leading export earners, boosting foreign exchange inflows and strengthening overall export growth. Alongside hydrocarbons, non-monetary gold exports have also risen, reflecting expanding activity in the mining sector and higher global gold prices in recent years.
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Before the hydrocarbons era, Senegal’s trade balance was typically characterised by persistent deficits, driven by high import bills for energy and capital goods. The recent surge in export earnings from oil and gold has narrowed that gap and contributed to stronger overall trade performance.
The country’s economic momentum has been supported by broader reforms under the government’s long-term development strategy, including investments in infrastructure, energy and agriculture. Improved harvests and renewed public investment have helped sustain growth even as global economic conditions remained uncertain.
According to the International Monetary Fund, Senegal’s economy expanded by 7.9 percent in 2025, driven largely by hydrocarbon production and a rebound in agriculture. The IMF has noted that while the outlook is positive, effective management of resource revenues will be critical to ensuring long-term macroeconomic stability and inclusive growth.
However, challenges remain. Commodity price volatility, global demand fluctuations and the need for transparent governance of extractive revenues pose ongoing risks. Authorities have pledged to channel oil and mining revenues into infrastructure, social services and economic diversification to avoid overdependence on extractive industries.
As oil, gas and gold exports gain prominence, Senegal’s economic structure is undergoing a historic transformation — one that could redefine its trade profile and fiscal capacity in the years ahead.
