Senegal Oil production Senegal Electricity production

Senegal Economy

Economy - overview:in january 1994. senegal undertook a bold and ambitious economic reform program with the support of the international donor community. this reform began with a 50% devaluation of senegal's currency. the cfa franc. which was linked at a fixed rate to the french franc. government price controls and subsidies have been steadily dismantled. after seeing its economy contract by 2.1% in 1993. senegal made an important turnaround. thanks to the reform program. with real growth in gdp averaging over 5% annually during 1995-2004. annual inflation had been pushed down to the low single digits. as a member of the west african economic and monetary union (waemu). senegal is working toward greater regional integration with a unified external tariff and a more stable monetary policy. senegal still relies heavily upon outside donor assistance. however. under the imf's highly indebted poor countries debt relief program. senegal will benefit from eradication of two-thirds of its bilateral. multilateral. and private sector debt.

GDP (purchasing power parity) : $20.56 billion (2005 est.)

Inflation rate: 1.7% (2005 est.)

Labor force : 4.82 million (2005 est.)

Industries: agricultural and fish processing. phosphate mining. fertilizer production. petroleum refining. construction materials. ship construction and repair

Senegal

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Senegal More Facts

Electricity - production: 1.332 billion kwh (2003)

Oil - production: 0 bbl/day (2003 est.)

Senegal More Facts

Exports: $1.526 billion f.o.b. (2005 est.)

Imports : $2.405 billion f.o.b. (2005 est.)
Currency (code) : communaute financiere africaine franc (xof); note - responsible authority is the central bank of the west african states