Senegal’s total trade jumped 19.4 percent in 2025 to 13,214.3 billion CFA francs (approximately US$23.76 billion), fueled by a surge in gold and oil exports, according to the latest data from the National Agency for Statistics and Demography (ANSD).
Exports soared 51.8 percent to 5,935.2 billion CFA francs (about US$10.66 billion), up from 3,909.1 billion CFA francs in 2024, reflecting strong demand for non-monetary gold, crude oil, and refined petroleum products. In December alone, exports hit 825.3 billion CFA francs (US$1.48 billion), a 155 percent increase from November and more than double the level recorded in December 2024. Major destinations included Switzerland, Belgium, Mali, Spain, and the United Kingdom.
Imports edged up just 1.6 percent to 7,279.1 billion CFA francs (US$13.05 billion), compared with 7,161.4 billion CFA francs a year earlier. December imports declined sharply to 544.8 billion CFA francs (US$975 million), down 24.6 percent from the previous year and 23.6 percent from November’s 713.3 billion CFA francs (US$1.28 billion). The drop reflected lower purchases of transport equipment, pharmaceutical products, and sugar. Key suppliers were China, France, Russia, India, and the Netherlands.
ANSD analysts noted that while shipments of phosphates and seafood declined, the gains from gold and oil more than offset these decreases, supporting the strong year-end trade performance.
Senegal’s robust trade performance coincided with an estimated economic growth of 7.9 percent in 2025, according to the International Monetary Fund. Growth was driven by expanding oil and gas production, as well as a rebound in agriculture following favorable rainfall and recovery of key crops.
Experts say Senegal’s diversification of exports has bolstered resilience against global commodity price fluctuations. The country has leveraged its natural resource wealth, particularly gold mining and hydrocarbon extraction, to strengthen its balance of payments and enhance foreign exchange reserves.
The surge in gold exports reflects both rising international prices and expanded production capacity. Similarly, the oil sector has benefited from increased exploration and output, contributing significantly to the export boom and fiscal revenues.
Trade officials highlighted that maintaining strong partnerships with key global markets, including European destinations and neighboring West African states, remains critical for sustaining export growth. Strategic initiatives aimed at upgrading port infrastructure, improving logistics, and reducing trade barriers are expected to further support Senegal’s position as a regional trading hub.
The IMF has praised Senegal’s macroeconomic management, noting that sustained fiscal prudence, combined with investments in infrastructure and resource development, have underpinned growth and export performance.
Despite the positive outlook, challenges remain. Import bills continue to rise moderately, and certain sectors, such as seafood and phosphates, face production and market constraints. Officials have called for policies to further diversify export portfolios, strengthen value addition, and enhance competitiveness in global markets.
Senegal’s strong trade and economic performance in 2025 underscores the country’s strategic focus on resource-driven growth, infrastructure development, and regional trade integration, laying a foundation for continued expansion in the coming years.
Senegal is one of West Africa’s fastest-growing economies, leveraging a mix of natural resources, agriculture, and strategic port infrastructure to drive trade and economic development. The country’s total land area is relatively small, but its location along the Atlantic coast has allowed Dakar to develop as a regional trade hub.
Gold Sector:
Gold has become a major contributor to Senegal’s export earnings over the past decade. The country hosts several large-scale gold mining operations, including the Sabodala and Massawa mines in the eastern region. Non-monetary gold production has surged due to rising global gold prices and improved extraction technology. Gold exports have been a critical source of foreign exchange and fiscal revenue, supporting the country’s balance of payments and strengthening the CFA franc.
Oil and Gas Sector:
Senegal’s oil and gas industry has expanded rapidly since the discovery of offshore hydrocarbon reserves in the Saint-Louis and Rufisque basins. Crude oil and refined petroleum products are key drivers of export growth, attracting international investment and generating substantial government revenue. Production expansion has been accompanied by investments in refining and storage infrastructure to meet both domestic demand and export commitments.
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Agriculture and Diversification:
While natural resources dominate exports, agriculture remains vital for employment and economic stability. Key crops include peanuts, millet, maize, and rice, alongside a growing horticultural sector. Senegal has focused on diversifying exports beyond traditional agricultural products, aiming to reduce vulnerability to commodity price volatility.
Trade Partners and Infrastructure:
Europe remains Senegal’s largest trading partner, particularly Switzerland, Belgium, Spain, and the United Kingdom, while regional trade with neighboring Mali and other West African states is also significant. The Port of Dakar serves as a strategic gateway for imports and exports, with investments in modernization and logistics helping reduce transit times and trade costs.
Economic Context:
Senegal’s economy grew an estimated 7.9 percent in 2025, supported by oil and gas production, gold exports, and a rebound in agriculture. Fiscal and monetary policies have prioritized macroeconomic stability, infrastructure development, and investment promotion. The government has also worked to strengthen trade facilitation, enhance regulatory frameworks, and attract foreign investment in extractive and industrial sectors.
Challenges and Outlook:
Despite strong growth, Senegal faces challenges including commodity price fluctuations, infrastructure bottlenecks, and dependence on a limited number of key exports. Ongoing efforts to diversify the economy, invest in value addition, and expand regional trade networks are critical to sustaining growth. Continued development in gold and oil production, coupled with strategic export partnerships, positions Senegal to remain a regional economic leader in West Africa.
