The economy of Senegal advanced 3.9 percent year-on-year in the third quarter of 2018, slowing from a 4.2 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2014, as a slowdown was seen in services activity (4.9 percent from 5.6 percent in Q2), namely internal trade (1.2 percent from 1.5 percent); information & communication (8.1 percent from 10.7 percent) and financial & insurance activities (2.5 percent from 8.0 percent). Also, output growth eased in the primary sector (5.2 percent from 5.3 percent), mostly due to forestry & logging (9.4 percent from 9.5 percent). Meanwhile, the secondary activity advanced further (4.1 percent from 0.8 percent) driven by chemicals (11.4 percent from -1.5 percent); construction (10.5 percent from 3.4 percent); mining (10.5 percent from 12.6 percent) and utilities (5.5 percent from 4.9 percent). On a quarterly basis, the GDP expanded 1.2 percent, easing from a 1.5 percent gain in the prior quarter. GDP Annual Growth Rate in Senegal averaged 3.49 percent from 1961 until 2018, 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.
GDP Annual Growth Rate in Senegal is expected to be 6.90 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 7.30 in 12 months time. In the long-term, the Senegal GDP Annual Growth Rate is projected to trend around 6.86 percent in 2020, according to our econometric models.