pan-African colors of Ethiopia

@Senegal, Economy

Overview:
After 14 years of mixed compliance with IMF and World Bank economic
reform programs, Senegal finds its economy remains hostage to negative
economic forces. Declining terms of trade, weather-related setbacks,
and relentless growth in population have held back overall growth and
left per capita incomes stagnant, if not diminished. The economy
continues to rely on exports of fish, peanuts, and phosphates for hard
currency earnings. A 50% devaluation of the African franc in January
1994 is likely to lead to substantial increases in local currency
prices for producers that may spur improved production. A sheltered
import-substitution sector, comprising textiles, shoes, and other
light manufacturing, will remain plagued, however, by high labor,
transportation, and energy costs. Public finances face a decade-long
trend in declining tax revenues, making the government increasingly
dependent on official development assistance from bilateral donors.
National product:
GDP - purchasing power equivalent - $11.8 billion (1993 est.)
National product real growth rate:
1.2% (1991 est.)
National product per capita:
$1,400 (1993 est.)
Inflation rate (consumer prices):
-1.8% (1991 est.)
Unemployment rate:
NA%
Budget:
revenues:
$1.2 billion
expenditures:
$1.2 billion, including capital expenditures of $269 million (1992
est.)
Exports:
$904 million (f.o.b., 1991 est.)
commodities:
fish, ground nuts, petroleum products, phosphates, cotton
partners:
France, other EC members, Cote d'Ivoire, Mali
Imports:
$1.2 billion (c.i.f., 1991 est.)
commodities:
foods and beverages, consumer goods, capital goods, petroleum
partners:
France, other EC, Nigeria, Cote d'Ivoire, Algeria, China, Japan
External debt:
$2.9 billion (1990)
Industrial production:
growth rate 1.9% (1991); accounts for 15% of GDP
Electricity:
capacity:
215,000 kW
production:
760 million kWh
consumption per capita:
100 kWh (1991)
Industries:
agricultural and fish processing, phosphate mining, petroleum
refining, building materials
Agriculture:
accounts for 20% of GDP; major products - peanuts (cash crop), millet,
corn, sorghum, rice, cotton, tomatoes, green vegetables; estimated
two-thirds self-sufficient in food; fish catch of 354,000 metric tons
in 1990
Illicit drugs:
transshipment point for Southwest Asian heroin mo