The economy of Senegal advanced by 1.4% from a year ago in the first quarter of 2020, slowing from a 3.3% growth in the previous period. That was the weakest economic expansion since the last quarter of 2011, mainly linked to the global pandemic. The services sector was the most affected (-0.9% vs 3% in Q4), namely accommodation & food services (-10.9% vs 5.8%); real estate activities (-11% vs -2%); and information & communication (-8.4% vs -1.8%). Meanwhile, the secondary sector continued to expand (3.5% vs 2.5%), as solid rises in construction (7.6% vs 4.4%) and water supply (6.6% vs 5.8%) partly offset contractions in mining (-5.8% vs -0.6%) and chemical activities (-3.8% vs -2.2%). Also, primary activities grew faster (6% vs 2.6%), mainly supported by fishing (26.9% vs -2.9%). On a seasonally quarterly basis, the economy shrank 3.9%, the most since Q1 of 2007, after expanding 2.3% in the prior quarter.
GDP Annual Growth Rate in Senegal averaged 3.66 percent from 1961 until 2020, reaching an all time high of 9.90 percent in the fourth quarter of 2015 and a record low of -6.55 percent in the fourth quarter of 1969. This page provides - Senegal GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Senegal GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.
GDP Annual Growth Rate in Senegal is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Senegal to stand at 3.50 in 12 months time. In the long-term, the Senegal GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 5.00 percent in 2022, according to our econometric models.