FX.co ★ Senegal GDP Growth Slows Marginally to 11.8% in Q2

In the second quarter of 2025, Senegal's economy experienced an 11.8% expansion compared to the year before, a slight decrease from the 12.1% growth in the first quarter, which marked the highest growth rate since records began in 1961. This strong GDP growth was primarily fueled by notable performances across various sectors: the secondary sector grew by 37.7%, the primary sector by 6.7%, the tertiary sector by 4.3%, and net taxes increased by 3.6%. Excluding the hydrocarbons sector, which includes oil and gas, the GDP saw a growth of 2.5%. From a demand perspective, the growth was mainly driven by significant jumps in exports, which soared by 46.9%, as well as increases in gross fixed capital formation by 3.7% and final consumption by 3.1%. Conversely, imports saw a decline of 4.7%. On a seasonally adjusted quarter-on-quarter basis, the economy grew by 0.3% in the second quarter, recovering from a 1.2% decline in the previous quarter.