Senegal

Senegal benefits from the EU's "Everything but Arms" (EBA) scheme for least developed countries. With a per-capita income of $ 1.620 (2022), the World Bank classifies Senegal as a lower-middle income country. Total imports from Senegal currently stand at about €563 million (2022). Preferential imports from Senegal, however, increased in 2022 and amounted to about €319,2 million.

What is the EBA?

The “Everything but Arms”(EBA) scheme is a permanent arrangement covering Least Developed Countries (LDC’s) as classified by the United Nations. This arrangement enables duty-free and quota-free access for all products (7200 products in total) originating in LDC’s except for arms and ammunition. Different from the Standard GSP and GSP+, LDC’s are not excluded from the scheme if they benefit from other preferential arrangements.

Senegal flag

At a glance: EBA beneficiaries' preferential imports to the EU

group

17,32 M

Population

account_balance
Presidential Republic

Government

trending_up

4.20%

GDP Growth

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3.30%

Inflation

money

$ 27,68 B

GDP

67 v

Freedomhouse index

4 -

ITUC Global Rights Index

33.9 ^

Environmental Performance Index

Facts about Senegal's economy

Oil and Gas Production

In 2020, Senegal launched its first round for offshore oil and gas licenses. The production was announced to begin in 2022, but has been pushed and expected to start in 2024. This is expected to substantially accelerate economic growth.

Export Products

Senegal’s main export articles are mineral fuels and gold, followed by fish, crustaceans, and molluscs. Senegal also exports cement and different ores (titanium, niobium, tantalum, etc.).

Trade Partners

The EU is by far the most important trading partner for Senegal, followed by China and Russia. Mali and Switzerland are the most important export destinations for Senegalese products. Over 46% of imports originate from the EU and China.

Economic Structure

The Senegalese economy, traditionally dependent on the cultivation of peanuts managed to diversify into other areas of economic activity including cotton, sugar cane and fish as well as mineral exploitation. The industrial sector is comparatively well developed and centres around the processing of food and handicrafts. Senegal is currently one of the strongest growing countries, and is the 2nd largest economy in francophone West Africa.

Usage of EBA Preferences

About 57% of EU imports from Senegal make use of the preferential markets access granted by the EBA. The preference utilisation rate, which represents the ratio of preferential imports to GSP eligible imports, is very high and currently stands at 91.4%.

Trade with the EU

Total trade with the EU amounted to € 5,280 million in 2022. The EU is Senegal's most important trading partner, accounting for a share of about 29.1%. Over 36% of imports originate from the EU, while about 13% of Senegal's exports go to the European market.

Senegal and the EU (2022)

Imports from Senegal by product section

Imports from Senegal over time (in € m)

SENEGAL AND THE EU’s GSP

Economic Impact

62%

The large majority of Senegal's exports are eligible for EBA preferences

91.40%

With a preference utilisation rate of 91.4%, Senegal makes considerable use of EBA preferences.

Preference utilisation and export diversification

Senegal's imports to the EU

Preference Utilisation vs. total eligible imports

Senegal is among the largest beneficiary under the EBA and belongs to the group of beneficiaries that take the highest advantage of the preferences granted by the GSP across all three arrangements. In the past eight years, the preference utilisation rate has been constantly above 90%, and a considerable share of imports from Senegal, about 62%, is eligible for EBA preferences. The preference utilisation rate is particularly high for the most prominent products traded under the EBA- fish and crustaceans, agricultural products as well as animal and vegetable oils.

The largest product sections under EBA

Three product sections currently account for about 92% of imports from Senegal under the EBA. Fish and crustaceans remain the most prominent product section. The Mid-Term Evaluation of the GSP conducted in 2018 showed that Senegal belongs to the EBA beneficiary countries with the highest level of export diversification.

SUSTAINABLE DEVELOPMENT

Senegal, as a beneficiary of the EBA scheme, is not obligated to ratify any conventions to be able to benefit from preferential access to the European market. Nonetheless, Senegal has ratified all 15 core international conventions on human and labour rights, which includes 7 UN human rights conventions and 8 ILO conventions on labour standards. Additionally, Senegal has ratified 8 conventions on environmental protection and 4 conventions on good governance aspects.

Core international conventions on human rights and labour standards

Ratified

  • Convention on the Prevention and Punishment of the Crime of Genocide (1948)
  • International Convention on the Elimination of All Forms of Racial Discrimination (1969)
  • International Covenant on Civil and Political Rights (1976)
  • International Covenant on Economic Social and Cultural Rights (1976)
  • Convention on the Elimination of All Forms of Discrimination Against Women (1981)
  • Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment (1987)
  • Convention on the Rights of the Child (1990)
  • Convention concerning Forced or Compulsory Labour, No 29 (1930)
  • Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
  • Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
  • Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
  • Convention concerning the Abolition of Forced Labour, No 105 (1957)
  • Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
  • Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
  • Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)

Additional Conventions

  • Convention on International Trade in Endangered Species of Wild Fauna and Flora (1973)
  • Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
  • Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
  • Convention on Biological Diversity (1992)
  • The United Nations Framework Convention on Climate Change (1992)
  • Cartagena Protocol on Biosafety (2000)
  • Stockholm Convention on persistent Organic Pollutants (2001)
  • Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
  • United Nations Single Convention on Narcotic Drugs (1961)
  • United Nations Convention on Psychotropic Substances (1971)
  • United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
  • United Nations Convention against Corruption (2004)

EU-Senegal Bilateral Development Assistance

DG INTPA

Access all info about EU-Senegal relations on the International Partnerships website: https://international-partnerships.ec.europa.eu/countries/senegal_en

Opportunities in Senegal

  • One of the most dynamic markets in Africa and favourable economic prospects
  • Dakar is an important regional industrial hub with good connections to Mali, Burkina Faso, Niger, Benin and Togo
  • Overall political stability
  • Considerable natural resources, including gold and petroleum
  • Further potential in expanding the agricultural sector as well as the food processing, consumer goods and cosmetics industries

Contact points