|Non-fillet Frozen Fish|
Senegal (French: Sénégal), officially the Republic of Senegal (French: République du Sénégal), is a country in West Africa. Senegal is bordered by Mauritania in the north, Mali to the east, Guinea to the southeast, and Guinea-Bissau to the southwest. Senegal also borders The Gambia, a country occupying a narrow sliver of land along the banks of the Gambia River, which separates Senegal's southern region of Casamance from the rest of the country. Senegal also shares a maritime border with Cape Verde. Senegal's economic and political capital is Dakar. It is the westernmost country in the mainland of the Old World, or Afro-Eurasia, and owes its name to the Senegal River, which borders it to the east and north. The name "Senegal" comes from the Wolof "Sunuu Gaal," which means "Our Boat." Senegal covers a land area of almost 197,000 square kilometers (76,000 sq. mi) and has an estimated population of about 13 million. The climate is Sahelian, but there is a rainy season. Predominantly rural, and with limited natural resources, the Economy of Senegal gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services. The agricultural sector of Senegal is highly vulnerable to variations in rainfall and changes in world commodity prices. The former capital of French West Africa is also home to banks and other institutions which serve all of Francophone West Africa and is a hub for shipping and transport in the region. Senegal also has one of the best-developed tourist industries in Africa. Senegal depends heavily on foreign assistance, which is 2000 represented about 32% of overall government spending—including both current expenditures and capital investments—or CFA 270.8 billion (U.S$. 361.0 million). Senegal is a member of the World Trade Organisation.
Senegal's financial sector is dominated by the banking sector. Financial depth increased in the past years with credit to the economy at almost 30 percent of the GDP, higher than in most WAEMU countries. However, credit remains largely short term and directed mainly to trade and food and oil imports. There are currently 19 commercial banks mostly operating in the three largest cities and accounting for about 90 percent of the financial system. The total aggregate balance rose by 12.5% in 2010 to reach XOF 3.02 trillion following a strong rise in deposits from clients that reached XOF 2.28 trillion. Average margins of 24.2% from loans and securities settlements helped an improvement in net banking product of 6% and an operating income of 23.3%. The sector is relatively concentrated with the five largest banks accounting for 66 percent of the assets and 79 percent of deposits. The amount of non-performing loans has been increasing in the past years reaching 20 percent in 2010. Senegal is one of eight member countries of the Bourse Régionale des Valeurs Mobilières, BRVM, the regional Stock Exchange, but only one Senegalese company is listed on the Exchange. As a member of the WAEMU Senegal shares a common currency, Central Bank (the Central Bank of West Africa, or BCEAO from its French name Banque Centrale des États de l'Afrique de l'Ouset), and joint monetary policy with other member states. The Central Bank, governments and regional banks all issue bonds and treasury bills, and member states have started to increasingly issue treasury bills to finance public spending in an effort to move away from Central Bank loans, though the BCEAO remains the most important issuing entity in the region. As of April 2011, Senegal received sovereign credit ratings of B+ by Standard and Poor's and B1 by Moody's for both long-term local currency and foreign currency debt.
|Agriculture||Cotton, peanuts, food grains, sugar, dairy products, poultry|
|Manufacture||Agricultural processing, construction materials, Petroleum refining, mining|
|Services (Including financial)||60.6% (2014 estimate)|
|Groupement Aerien Senegalais||Consumer goods|
|TOTAL SNGAL||Oil & Gas|
|Non-fillet Frozen Fish|
The Bourse Régionale des Valeurs Mobilières SA ("Regional Securities Exchange SA") or BRVM, is a regional stock exchange serving the following west African countries: Benin, Burkina Faso, Guinea Bissau, Côte d'Ivoire, Mali, Niger, Senegal, Togo. The exchange is located in Abidjan, Cote d'Ivoire. Market offices are maintained in each country. BRVM is a private corporation with 2,904,300,000 CFA francs in capital. The mission of the BRVM is to: • Organize the securities market; • Disseminate market information; • Promote the market. Time line Market integration by the BRVM is a political, institutional and technical success. The Bourse Régionale and Dépositaire Central/Banque de Règlement (DC/BR) were established in several phases: • November 14, 1973: Treaty signed establishing the West African Monetary Union (WAMU) which created a financial market organized into sub-regions. • December 17, 1993: WAMU Council of Ministers decides to create a Regional Financial Market and mandates the Central Bank of West African States (BCEAO) to conduct the project. • December 18, 1996: Various preliminary activities are conducted resulting in the formation in Cotonou of Bourse Régionale des Valeurs Mobilières S.A. (BRVM) and Dépositaire Central/Banque de Règlement S.A. (DC/BR), thus marking the end of the BCEAO mandate and the takeover of project management by its own agencies. • November 20, 1997: Union's Council of Ministers establishes the Regional Council for Public Saving and Financial Markets. • September 16, 1998: BRVM and DC/BR begin operations..
Provides an assessment of the impact of the food, fuel, and financial crisis on household well-being in Senegal, confirming that the situation of much of the population has become more difficult. Rising costs for basic necessities due to the increase in food and fuel prices and losses of employment have led to higher levels of indebtedness. Limited access to credit implies that many households and small entrepreneurs have limited means to cope with the crisis, lacking the ability to smooth consumption patterns or to keep their business activity going. Strategies used by households to cope with the crisis include working longer hours through second and third jobs, or women entering the labor market instead of staying home, and most households declare that they have also adjusted their consumption patterns by, for example, shifting to lower-cost, lower-quality foods. The crisis may have increased tensions within communities because of the rise in petty crime and has stressed traditional mechanisms of solidarity between households that used to protect the vulnerable.
|Macky Sall (President)||Mohammed Dionne (Prime Minister)||Sidiki Kaba (Minister of Justice)||Birima Mangara (Minister of Economy and Finance)|
The West African CFA franc (French: franc CFA;Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory coast, Mali, Niger, Senegal and Togo. These eight countries have a combined population of 105.7 million people (as of 2014), and a combined GDP of US$78.4 billion (as of 2012). The acronym CFA stands for Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière Africaine ("African Financial Community"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the West African States"), located in Dakar, Senegal, for the members of the UEMOA (Union Économique et Monétaire Ouest Africaine, "West African Economic and Monetary Union").
The franc is nominally subdivided into 100 centimes but no centime denominations have been issued. The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both the CFA franc.
|National Song||"Pincez Tous vos Koras, Frappez les Balafons"|
|Currency||West African CFA franc (XOF)|
|GDP / GDP Rank||39.694 Billion USD|
|GDP Growth Rate||6.5 Percent|
|GDP Per Captial||$2576.594 (PPP)|
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
President – Macky Sall
Prime Minister – Mahammed Dionne
|Website||Go to the web|
|Public Debt||57.436 Percent|
|Unemployment Rate||9.482 Percent|
|Labor Force (Occupation)||-|