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.
At a glance: EBA beneficiaries' preferential imports to the EU
17,32 M
Population
Presidential Republic
Government
4.20%
GDP Growth
3.30%
Inflation
$ 27,68 B
GDP
Facts about Senegal's economy
Oil and Gas Production
In 2020, Senegal launched its first round for offshore oil and gas licenses. The production will begin in 2022, which 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 India. Mali and Switzerland are the most important export destinations for Senegalese products. Over 43% 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 has the 4th largest economy in West Africa.
Usage of EBA Preferences
About 61% 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 97%.
Trade with the EU
Total trade with the EU amounted to € 4,198 million in 2021. The EU is Senegal's most important trading partner, accounting for a share of about 26.3%. Over 34% of imports originate from the EU, while about 11% 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
Most recent events
| Date | Event |
|---|---|
| 2021‑11‑08 | EBA Engagement Workshop |
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By submitting a comment I confirm to have read the Terms and Conditions. Users should be aware that if in breach of the Terms and Conditions that their comments, replies and contributions can be removed from the website.
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