The economic studies aim to provide the reader with a macroeconomic overview. They also list the key sectors that offer important opportunities for our Belgian export companies.
Economic study Senegal (May 2023)
As the second largest economy in the West African Economic and Monetary Union (WAEMU), Senegal's GDP is expected to grow by 8% in 2023 and by more than 10% in 2024. This expected growth is indicative of an economy and a country in full development. The European Union is Senegal's first supplier and second customer. Belgium is an important and recognised partner of the country. Senegal is positioned as the gateway to West Africa. It invests in modern infrastructure and enjoys a stability that is recognised worldwide.
Investors are attracted by the reforms encouraging the business world as well as by the opportunities that the country offers. On the strength of this attractiveness, the Senegalese State is keen to ensure endogenous and inclusive development in good understanding with its international partners. To achieve this, the country can count on a diversified economy and abundant natural resources.
In this context the Belgian Foreign Trade Agency, with its partners the FPS Foreign Affairs, Flanders Investment & Trade, the Wallonia Export-Investment Agency (AWEX) and hub.brussels, is organising a joint economic mission to Senegal from 21 to 25 May 2023, under the Presidency of HRH Princess Astrid, Representative of His Majesty the King.
Consult our study for an analysis of the Senegalese economy. Document only available in French and Dutch.
Watch following interviews regarding the mission to Senegal in May 2023:
Interview with HE Baye Moctar Diop, Ambassador of Senegal to Belgium (May 2023):
Interview with HE Hubert Roisin, Ambassador of Belgium to Senegal (May 2023):