01Key Takeaways
- Senegal exported $5.32 billion worth of goods in 2023, down 6.9% from $5.71 billion in 2022, the most recent year with verified trade data available in this dataset.
- Mineral fuels led export categories at 21.5% ($1.14 billion), followed by natural and precious stones, metals and jewellery at 16.5%.
- Mali took 22.9% of exports ($1.22 billion), the largest single destination.
- Switzerland ranked second among partners at 12.1% ($0.65 billion), consistent with precious metals featuring prominently among export categories.
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $4.2B | $3.9B | $5.2B | $5.7B | $5.3B |
03Top Export Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | Mali | $1.2B | 22.9% |
| 2 | Switzerland | $645.7M | 12.1% |
| 3 | India | $544.4M | 10.2% |
| 4 | Bunkers | $262.4M | 4.9% |
| 5 | China | $223.8M | 4.2% |
| 6 | Gambia | $186.0M | 3.5% |
| 7 | Côte d’Ivoire | $174.4M | 3.3% |
| 8 | Australia | $171.6M | 3.2% |
| 9 | Spain | $164.0M | 3.1% |
| 10 | Guinea-Bissau | $157.4M | 3.0% |
04Top Export Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes | $1.1B | 21.5% |
| 2 | Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles thereof; Imitation Jewellery; Coin | $875.5M | 16.5% |
| 3 | Fish and Crustaceans, Molluscs and other Aquatic Invertebrates | $491.2M | 9.2% |
| 4 | Inorganic Chemicals; Organic or Inorganic Compounds of Precious Metals, of Rare-Earth Metals, of Radioactive Elements or of Isotopes | $443.4M | 8.3% |
| 5 | Salt; Sulphur; Earths and Stone; Plastering Materials, Lime and Cement | $319.3M | 6.0% |
| 6 | Ores, Slag and Ash | $242.2M | 4.6% |
| 7 | Iron and Steel | $190.7M | 3.6% |
| 8 | Miscellaneous Edible Preparations | $174.5M | 3.3% |
| 9 | Edible Fruit and Nuts; Peel of Citrus Fruit or Melons | $174.4M | 3.3% |
| 10 | Oil Seeds and Oleaginous Fruits; Miscellaneous Grains, Seeds and Fruit; Industrial or Medicinal Plants; Straw and Fodder | $115.9M | 2.2% |
05Trade Partner Map
06Analysis
Export Value Fell Back After a Strong 2022
Senegal exported $5.32 billion worth of goods in 2023, down 6.9% from $5.71 billion in 2022. This is the most recent year with verified trade data available in this dataset. The dataset covers a full five years, from 2019 through 2023.
Export value moved unevenly across those years. It stood at $4.18 billion in 2019, eased to $3.93 billion in 2020, then jumped to $5.20 billion in 2021. It reached $5.71 billion in 2022, the highest point in this five-year window, before easing back to $5.32 billion in 2023.
This dataset does not include information explaining what drove either the 2020 dip or the sharp recovery that followed. Even after the 2023 decline, export value remains well above every year in this dataset before 2021. The pattern across these five years, a dip followed by two years of strong growth and then a partial pullback, describes an export economy still finding a stable level rather than settling into a steady trend.
Fuel and Precious Metals Lead a Varied Export List
Mineral fuels and related products led every export category in 2023. They were worth $1.14 billion, or 21.5% of the total. Senegal's SAR refinery is positioning itself to export refined petroleum products to landlocked neighbors such as Mali, Burkina Faso and Niger. That pattern is consistent with fuel's leading position on this list and with Mali's position as Senegal's top export partner, covered below. Natural and precious stones, metals and jewellery followed at 16.5% ($0.88 billion), and fish and crustaceans contributed 9.2% ($0.49 billion).
Inorganic chemicals added 8.3% ($0.44 billion), and salt, sulphur and earthy materials contributed 6.0% ($0.32 billion). Ores, slag and ash added 4.6% ($0.24 billion), and iron and steel contributed 3.6% ($0.19 billion). Miscellaneous edible preparations added 3.3% ($0.17 billion), and fruit and nuts contributed a nearly identical 3.3% ($0.17 billion). Oil seeds closed out the top ten at 2.2% ($0.12 billion). Agricultural and food-related categories, including fish, edible preparations, fruit and oil seeds, together cover a meaningful portion of this list, reflecting Senegal's role as both a mining economy and a producer of food and marine products.
A list topped by fuel and precious metals, followed by fish, chemicals and minerals, describes an export economy spanning energy, mining and agriculture rather than one built around a single product. Fuel and precious metals together stand well ahead of the remaining eight categories, but neither comes close to the kind of overwhelming dominance seen in some other countries covered in this series, where a single resource can account for most of total export value.
Mali Is Senegal's Largest Export Market
Mali was Senegal's largest export destination in 2023, absorbing 22.9% of the total, worth $1.22 billion. Switzerland ranked second at 12.1% ($0.65 billion), and India followed at 10.2% ($0.54 billion). Together, the top three destinations made up 45.3% of total export value.
A category labeled "Bunkers," a recognized classification within international trade statistics for fuel and supplies sold to ships and aircraft engaged in international transport rather than to a specific country, accounted for 4.9% ($0.26 billion). China contributed 4.2% ($0.22 billion), and Gambia added 3.5% ($0.19 billion). Côte d’Ivoire contributed 3.3% ($0.17 billion), and Australia added 3.2% ($0.17 billion). Spain contributed 3.1% ($0.16 billion), and Guinea-Bissau closed out the top ten at 3.0% ($0.16 billion).
Mali is a landlocked country, and Senegal's port of Dakar serves as one of its main gateways to the sea. That geography lines up with Mali standing well ahead of every other destination on this list, and with mineral fuels leading Senegal's export categories above. Other West African neighbors also appear among the top ten, including Gambia, Côte d'Ivoire and Guinea-Bissau, though none approaches Mali's share of the total.
Taken together, this dataset's most recent confirmed year describes an export economy anchored by a landlocked regional neighbor, a European precious-metals hub, and a mix of West African and global partners beyond them. India's presence at third place, alongside China further down the list, points to substantial demand from South and East Asia as well, on top of the regional and European relationships that dominate the top of this list. That combination of nearby transit markets, a global metals-trading center, and Asian buyers describes a partner base considerably more varied than a typical small export economy relying on one or two dominant markets.