Senegal Narrows Trade Deficit to $2.4bn Despite Import Dependence
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Senegal's trade deficit shrank to $2.4 billion (CFA 1.3 trillion) in 2025 from $5.76 billion the prior year, according to National Agency of Statistics and Demography (ANSD) figures reported by Finance in Africa. Export revenues more than doubled in December to $1.49 billion (+155% MoM, +104% YoY), propelled by a global gold rally pushing non-monetary gold exports to $372.2 million.
Gold prices surged 41% in 2025 per World Bank data, with the World Gold Council noting a 67% annual return as the metal crossed $4,000/oz amid geopolitical tensions. Key destinations included Switzerland, Belgium, Mali, Spain, and the UK. Energy exports also rebounded sharply: crude petroleum hit $191.4 million and refined products $162.8 million in December.
Imports contracted 23.6% MoM to $981.2 million in December, led by a collapse in transport equipment purchases ($13.1m from $352.7m). However, refined petroleum ($189.9m) and base metals ($81m) imports rose, reflecting sustained energy and construction demand from suppliers like China, France, Russia, India, and the Netherlands.
The structural imbalance persists due to dependence on imported fuel, machinery, and manufactures, though favourable commodity prices provide breathing room. Phosphate (-55% Dec) and seafood exports declined, underscoring diversification challenges despite the gold-led recovery.
