Data released by the National Agency of Statistics and Demography of Senegal show the West African economy recorded a trade shortfall of about $2.4 billion in 2025.
While still negative, the gap narrowed sharply from roughly $5.76 billion in 2024, reflecting stronger commodity earnings and resilient external demand.
Gold rally fuels Senegal’s export surge
Export revenues climbed to about $10.67 billion during the year, a 51 percent jump from $7.02 billion in 2024. Imports, however, continued to outpace outbound trade, rising slightly to $13.09 billion from $12.89 billion the previous year. The persistent imbalance highlights Senegal’s structural reliance on imported fuel, machinery, and manufactured goods.
Momentum accelerated strongly toward the end of the year. In December alone, exports surged to $1.49 billion, more than doubling from $ 582.5 million in November. The spike was largely driven by robust global demand for bullion.
Shipments of non-monetary gold rose to $372.2 million in December, up from $172.6 million a month earlier. The rally coincided with a historic rise in precious metal prices.
Supporting this trend, the World Gold Council reported that gold delivered a 67 percent annual return in 2025, reinforcing its importance as a cornerstone of Senegal’s export base.
Import slump offers temporary relief
Energy shipments also strengthened late in the year as crude petroleum exports rose to $191.4 million in December from $81.9 million in November, while refined petroleum product exports increased to $162.8 million from $89.5 million. Firmer global oil prices, which recovered to about $60 per barrel toward year’s end, helped support the rebound.
Not all sectors benefited from the upswing, as phosphate exports fell to $4.0 million from $8.8 million, while shipments of crustaceans and shellfish declined to $11.5 million from $15.1 million.
On the import side, the final month of the year brought some relief as total imports dropped to $981.2 million in December, down from $1.28 billion in November, a 23.6 percent monthly decline. The fall was driven mainly by a sharp reduction in transport equipment purchases, which plunged to $13.1 million from $352.7 million, reflecting the volatile nature of large capital imports.
However, domestic demand remained evident in other categories. Imports of refined petroleum products rose to $189.9 million, while base metal imports increased to $81.0 million, signalling continued activity in construction and infrastructure.
Key export markets included Switzerland, Belgium, Mali, Spain, and the United Kingdom, while major suppliers were led by China, France, Russia, India, and the Netherlands.
Despite the notable improvement, analysts say Senegal’s trade balance remains structurally negative. Still, sustained strength in the gold and oil markets could continue to ease pressure on the country’s external position if current trends hold.
