Senegal GDP Growth Slows Marginally to 11.8% in Q2

Senegal’s economy advanced by 4.2% year-on-year in Q3 2025, slowing sharply from an 11.8% surge in Q2, which was the second-fastest growth rate since records began in 1961, and marking the softest expansion since Q2 2024. Growth was driven by strong performances in the primary sector (+7.3%), secondary sector (+7.2%), tertiary sector (+2.4%), as well as net taxes (+0.5%). Excluding hydrocarbons (oil and gas), GDP grew by 1.8%. From the demand side, growth was primarily supported by increases in exports (+11.6%), final consumption (+3.3%), and gross fixed capital formation (+2.8%), while imports fell by 3.9%. On a seasonally adjusted quarterly basis, the economy expanded by 0.8% in Q3, following an upwardly revised 0.4% increase in Q2.

Senegal’s economy expanded by 11.8% year-on-year in Q2 2025, slightly easing from a 12.1% surge in Q1, which was the fastest growth rate since records began in 1961. The robust GDP growth was driven by strong performances in the secondary sector (+37.7%), primary sector (+6.7%), tertiary sector (+4.3%), and net taxes (+3.6%). Excluding hydrocarbons (oil and gas), GDP grew by 2.5%. From the demand side, growth was primarily fueled by sharp increases in exports (+46.9%), gross fixed capital formation (+3.7%), and final consumption (+3.1%). In contrast, imports declined by 4.7%. On a seasonally adjusted quarterly basis, the economy grew by 0.3% in Q2, rebounding from a 1.2% contraction in Q1.

Senegal’s economy expanded by a solid 12.1% year-on-year in Q1 2025, the fastest growth since records began in 1961, driven by strong performance in the secondary sector (+37%), primary (+6.8%), and tertiary (+4.3%) sectors, as well as net taxes (+5.2%). Excluding hydrocarbons (oil and gas), the GDP increased by 3.1%. From a demand perspective, the expansion was primarily driven by strong increases in exports (+81.3%), gross fixed capital formation (+8.0%), and final consumption (+3.4%). However, imports also rose by 6.6%. On a seasonally adjusted quarterly basis, the GDP contracted by 1.2%.