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The French colonies of Senegal and French Sudan were merged in 1959 and granted independence in 1960 as the Mali Federation. The union broke up after only a few months. Senegal joined with The Gambia to form the nominal confederation of Senegambia in 1982. The envisaged integration of the two countries was never implemented, and the union was dissolved in 1989. The Movement of Democratic Forces in the Casamance has led a low-level separatist insurgency in southern Senegal since the 1980s. Several peace deals have failed to resolve the conflict, but an unofficial cease-fire has remained largely in effect since 2012. Senegal remains one of the most stable democracies in Africa and has a long history of participating in international peacekeeping and regional mediation. Senegal was ruled by a Socialist Party for 40 years until Abdoulaye WADE was elected president in 2000. He was reelected in 2007 and during his two terms amended Senegal's constitution over a dozen times to increase executive power and weaken the opposition. His decision to run for a third presidential term sparked a large public backlash that led to his defeat in a March 2012 runoff with Macky SALL, whose term runs until 2019. A 2016 constitutional referendum reduced the term to five years with a maximum of two consecutive terms for future presidents.

Location

Western Africa, bordering the North Atlantic Ocean, between Guinea-Bissau and Mauritania

Natural Resources

fish, phosphates, iron ore

Population - distribution

the population is concentrated in the west, with Dakar anchoring a well-defined core area; approximately 70% of the population is rural

12323252
French (official), Wolof, Pular, Jola, Mandinka, Serer, Soninke
DAKAR (capital) 3.52 million (2015)
Conventional long form
Republic of Senegal
Conventional short form
Senegal
Local long form
Republique du Senegal
Local short form
Senegal
presidential republic
Name
Dakar
Geographic coordinates
14 44 N, 17 38 W
Time difference
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Senegal’s economy is driven by mining, construction, tourism, fisheries and agriculture, which are the primary sources of employment in rural areas. The country's key export industries include phosphate mining, fertilizer production, agricultural products and commercial fishing and it is also working on oil exploration projects. Senegal relies heavily on donor assistance, remittances and foreign direct investment. For the first time in the past 12 years, Senegal reached a growth rate of 6.5% in 2015 and surpassed 6.6% in 2016, due in part to a buoyant performance in agriculture because of higher rainfall and productivity in the sector.
Inflation
0.835%
External debt stocks
US$ 5,893,172,000
Total tax rate (% of commercial profits)
45.1%
Real Interest Rate
3.535%
Manufacturing, value added (% of GDP)
13.497%
Current Account Balance
US$ -1,347,835,449
Labor Force, Total
5,029,079
Employment in Agriculture
46.10%
Employment in Industry
18.14%
Employment in Services
22.41%
Unemployment Rate
9.48%
Imports of goods and services
US$ 6,671,160,809
Exports of goods and services
US$ 4,243,917,460
Total Merchandise Trade
54.98%
FDI, net inflows
US$ 345,211,486
Commercial Service Exports
US$ 1,162,231,617
peanuts, millet, corn, sorghum, rice, cotton, tomatoes, green vegetables; cattle, poultry, pigs; fish
agricultural and fish processing, phosphate mining, fertilizer production, petroleum refining, zircon, and gold mining, construction materials, ship construction and repair
Commodities
fish, groundnuts (peanuts), petroleum products, phosphates, cotton
Partners
Mali 12.8%, Switzerland 9.7%, India 5.9%, Cote dIvoire 5.3%, China 5.1%, UAE 4.1%, France 4.1% (2015)
Commodities
food and beverages, capital goods, fuels
Partners
France 17.9%, China 10%, Nigeria 8.7%, India 5.6%, Spain 4.9%, Netherlands 4.5% (2015)
Country Risk Rating
B
Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable.
Business Climate Rating
B
The business environment is mediocre. The availability and the reliability of corporate financial information vary widely. Debt collection can sometimes be difficult. The institutional framework has a few troublesome weaknesses. Intercompany transactions run appreciable risks in the unstable, largely inefficient environments rated B.
  • Faster growth linked with the implementation of major investment projects
  • Support from the international financial community through debt relief (2004 and 2006) and funding pledges under the Plan Sénégal Emergent
  • Political stability
  • Activity and exports subject to climate variables, irregular energy supplies and movements in primary product prices
  • Inadequate infrastructure (energy, transport)
  • Continuing twin deficits (budget and current account)
  • Poverty and regional disparities
  • Head of state losing popularity

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