FX.co ★ Senegal Q3 GDP Annual Growth Weakest in 5 Quarters

In the second quarter of 2025, Senegal's economy experienced a 4.2% increase compared to the same period last year. This growth marked a significant deceleration from the robust 11.8% increase in the first quarter, which was notable as the second-highest growth rate ever recorded since the inception of records in 1961. Additionally, it represented the most modest expansion since the second quarter of 2024. The growth was predominantly fueled by notable performance in the primary sector, which rose by 7.3%, the secondary sector with a 7.2% increase, and the tertiary sector growing by 2.4%. There was also a 0.5% rise in net taxes. When excluding the contribution from hydrocarbons, namely oil and gas, the GDP saw a 1.8% increase. From a demand perspective, economic growth was largely bolstered by a significant rise in exports, which jumped by 11.6%, alongside increases in final consumption and gross fixed capital formation, which grew by 3.3% and 2.8% respectively. Notably, imports decreased by 3.9%. On a quarter-to-quarter basis, once adjusted for seasonal variations, the economy expanded by 0.8% in the third quarter, building on an upward revision of a 0.4% increase in the second quarter.