Updated in January 2025.
Economic boom amidst liquidity challenges
C2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Form of state | Republic |
Head of government | Bassirou Diomaye FAYE (President) |
Next elections | 2029, Presidential |
Strengths & Weaknesses

- Relatively good regional and international relations, membership of the West African Union (WAEMU) and usage of CFA franc provide relative economic stability including low risk associated with exchange rate volatility, convertibility and transfer of funds
- Political stability and market-friendly reforms have elicited foreign investment amid solid collaboration with the IMF
- Oil and gas fields coming online, along with increasing tourism, are improving external and fiscal accounts

- Revised fiscal deficit at 11% of GDP in 2024 will lead to higher debt servicing and increase financing requirements
- Delays in oil and gas production, coupled with output falling below expectations, could diminish government revenue and exacerbate liquidity challenges
- Growth prospects have become increasingly vulnerable to climatic effects, e.g. on agricultural output, and the import bill as Senegal remains a net importer of food and energy
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual 2023)
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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