15
consulate(s) general: Houston, New York

Diplomatic representation from the US:
chief of mission: Ambassador Janice L. JACOBS
embassy: Avenue Jean XXIII at the corner of Rue Kleber, Dakar
mailing address: B. P. 49, Dakar
telephone: [221] 823-4296
FAX: [221] 822-2991

Flag description:
three equal vertical bands of green (hoist side), yellow, and red
with a small green five-pointed star centered in the yellow band;
uses the popular pan-African colors of Ethiopia

Economy Senegal

Economy - overview:
In January 1994, Senegal undertook a bold and ambitious economic
reform program with the support of the international donor
community. This reform began with a 50% devaluation of Senegal's
currency, the CFA franc, which was linked at a fixed rate to the
French franc. Government price controls and subsidies have been
steadily dismantled. After seeing its economy contract by 2.1% in
1993, Senegal made an important turnaround, thanks to the reform
program, with real growth in GDP averaging over 5% annually during
1995-2006. Annual inflation had been pushed down to the low single
digits. As a member of the West African Economic and Monetary Union
(WAEMU), Senegal is working toward greater regional integration with
a unified external tariff and a more stable monetary policy. High
unemployment, however, continues to prompt illegal migrants to flee
Senegal in search of better job opportunities in Europe. Senegal was
also beset by an energy crisis that caused widespread blackouts in
2006. Senegal still relies heavily upon outside donor assistance.
Under the IMF's Highly Indebted Poor Countries (HIPC) debt relief
program, Senegal will benefit from eradication of two-thirds of its
bilateral, multilateral, and private-sector debt.

GDP (purchasing power parity):
$22.01 billion (2006 est.)

GDP (official exchange rate):
$8.562 billion (2006 est.)

GDP - real growth rate:
4.9% (2006 est.)

GDP - per capita (PPP):
$1,800 (2006 est.)

GDP - composition by sector:
agriculture: 18.3%
industry: 19.2%
services: 62.5% (2006 est.)

Labor force:
4.749 million (2006 est.)

Labor force - by occupation:
agriculture: 77%
industry and services: 23% (1990 est.)

Unemployment rate:
48%; note - urban youth 40% (2001 est.)

Population below poverty line:
54% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 2.6%