Senegal - Balance of payments
Since independence, as in colonial times, Senegal's balance of payments has generally run a deficit on current accounts, mainly covered by foreign aid from France (and, more recently, from other EU members). Remittances from Senegalese working in France, together with small inflows of private capital, have also helped cover the shortfalls.
The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Senegal's exports was $1 billion while imports totaled $1.3 billion resulting in a trade deficit of $300 million.
The International Monetary Fund (IMF) reports that in 1999 Senegal had exports of goods totaling $1.03 billion and imports totaling $1.37 billion. The services credit totaled $416 million and debit $430 million. The following table summarizes Senegal's balance of payments as reported by the IMF for 1999 in millions of US dollars.
|Balance on goods||-346|
|Balance on services||-14|
|Balance on income||-119|
|Direct investment abroad||-15|
|Direct investment in Senegal||157|
|Portfolio investment assets||-31|
|Portfolio investment liabilities||…|
|Other investment assets||-62|
|Other investment liabilities||-103|
|Net Errors and Omissions||-8|
|Reserves and Related Items||268|