Senegal: 4.8% increase in exports in August

In August 2021, Senegal’s exports increased by 4.8% compared to the previous month, according to data from the National Agency for Statistics and Demography (ANSD) based in Dakar.
These exports amounted to 235.5 billion FCFA against 224.8 billion FCFA in July 2021, an increase of 10.7 billion FCFA. “This increase is mainly explained by that of shipments of petroleum products (+ 92.6%), crustaceans, molluscs and shellfish (+ 33.4%) and non-monetary gold (+ 1.0%)” , advances the ANSD.

However, it should be noted that the decline in exports of phosphoric acid (-38.3%) and fresh marine fish (-28.8%) reduced this upward trend.

Compared with August 2020, shipments from Senegal increased by 36.9%. Their cumulation over the first eight months of 2021 amounted to FCFA 1,839.2 billion against FCFA 1,571.1 billion for the same period of 2020, an increase of 17.1%.

According to ANSD, the main products exported by Senegal during the month under review are petroleum products (46.2 billion FCFA), non-monetary gold (45.6 billion FCFA), phosphoric acid ( 21.4 billion FCFA), crustaceans, molluscs and shellfish (11.9 billion FCFA) and fresh sea fish (10.3 billion FCFA).

The main clients of Senegal were Mali (23.3%), Switzerland (15.9%), India (13.7%), the United States (3.8%) and Spain ( 3.7%).

Regarding imports for the month of August 2021, they are estimated at 457.7 billion FCFA against 419.9 billion FCFA in the previous month, an increase of 9.0%. This increase is explained by the ANSD by that of purchases outside of base metal works (+ 120.7%), optics, watchmaking and scientific equipment (+ 98.0%) and organic chemicals and inorganic (+ 65.1%). Moreover, the lack of imports of crude petroleum oil in the previous month against purchases of the product amounting to CFAF 40.7 billion during the period under review, reinforced this upward trend. “However, ANSD points out, this increase in imports was mitigated by the contraction of those of base metals (-60.9%) and rice (-29.5%).”

Compared with August 2020, Senegal’s imports increased by 36.7%. Their cumulative over the first eight months of 2021 stood at CFAF 3,297.7 billion against CFAF 3,013.8 billion for the same period in 2020, an increase of 9.4%.

The main imported products during the period under review are finished petroleum products (CFAF 84.5 billion), crude petroleum oil (CFAF 40.7 billion), other machinery and equipment (32, 3 billion FCFA), pharmaceutical products (17.4 billion FCFA) and rice (16.0 billion FCFA).

The main suppliers to Senegal were France (11.6%), Nigeria (9.3%), China (7.8%), India (6.6%) and Russia (6.3%) %).

As for the trade balance, it stood at -222.3 billion FCFA in August 2021, against -195.2 billion FCFA in July. This deterioration in the balance is explained by the ANSD by “ the deficit vis-à-vis Nigeria (-42.1 billion FCFA against +0.5 billion FCFA in the previous month) and the strengthening of the deficit vis-à-vis Nigeria (-42.1 billion FCFA against +0.5 billion FCFA in the previous month) and – against the Netherlands (-18.5 billion FCFA against -5.5 billion FCFA in the previous month) and the United Arab Emirates (-23.9 billion FCFA against -11.2 billion FCFA in the month of July 2021). >> However, underlines the ANSD, the strengthening of the trade surplus vis-à-vis Mali (+54.5 billion FCFA against +35.5 billion FCFA in July) reduced the trade balance deficit. In addition, the trade balance deteriorated, at the end of the first eight months of 2021, to stand at -1458.5 billion FCFA against -1442.8 billion FCFA for the same period in 2020.
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