On the occasion of the Belgian Economic Mission to Senegal (Dakar) from 21 to 25 May 2023, chaired by HRH Princess Astrid, Representative of His Majesty the King, which the Belgian Foreign Trade Agency is organising in cooperation with its partners, the FPS Foreign Affairs, Flanders Investment & Trade, the Wallonia Export-Investment Agency (AWEX) and, an economic study has been realised by the Belgian Foreign Trade Agency.

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.

You will find a detailed analysis of the Senegalese economy in our new publication.

cover economic study Senegal


Document only available in French. A Dutch version of this study will be available soon.