Dakar – Senegal’s export sector has experienced a significant boost, with exports reaching $7.26 billion during the first nine months of 2025. This represents a substantial 52% increase compared to the same period in 2024, according to data released by the National Agency for Statistics and Demography.
Mali Leads as Trading Partner
The data indicates that Mali has emerged as Senegal’s primary trading partner, accounting for 20.1% of total foreign trade. Italy followed with 10.9%, and Spain with 10.6%.
On the import side, China maintained its position as the top supplier to Senegal, representing 17% of imports. Russia accounted for 9.9%, followed by Nicaragua at 8.4%.
Imports Rise, Trade Deficit Narrows
Senegal’s imports totaled $9.62 billion during the same period, reflecting a slight increase of 1.2% year-on-year. Key imported goods included non-crude oil derivatives ($143 million), industrial machinery and equipment ($79 million), crude oil ($75 million), and rice ($48 million).
Despite the rise in imports, the trade deficit narrowed to $1.99 billion, a significant improvement compared to the $4.37 billion deficit recorded during the same period in 2024.
New Funding Secured Amid Credit Rating Downgrade
The Senegalese Ministry of Finance announced the successful mobilization of 99 billion CFA francs ($175 million) through the issuance of government bonds in the local market, exceeding the initial target of 90 billion CFA francs ($159 million). However, this economic performance coincides with pressures on the country’s financial situation. Standard & Poor’s recently downgraded Senegal’s sovereign credit rating from B- to CCC+ due to rising public debt, which has reached approximately 119% of GDP. The agency projects that Senegal’s financing needs in 2026 will reach 29% of GDP, with external debt servicing amounting to $4.61 billion.
