(Ecofin Agency) - In September 2024, Senegal's total exports surged by 85.2%, driven primarily by increased sales of gold, petroleum products, and titanium, according to the National Agency for Statistics.

Senegal’s trade gap narrowed to CFA121.6 billion (about $195.3 million) in September 2024, compared to CFA411.8 billion (about $663 million) in the same period last year—a significant 70% decrease. The figures were featured in the monthly report by the National Agency for Statistics and Demography (ANSD).

The report highlights an 85.2% rise in Senegal’s exports between August and September 2024, from CFA228.2 billion to CFA422.7 billion. Higher sales of non-monetary gold, petroleum products, and titanium mainly drove this improvement. “Senegal’s main clients in September 2024 were Mali (13.3%), Switzerland (12.0%), China (10.2%), Italy (10.2%), and Australia (9.9%),” the document read.

Imports, on the other hand, declined by 14.9%, from CFA640 billion in August to CFA544.3 billion in September due to decreased purchases of crude oil, industrial machinery and equipment, and automobiles. The main suppliers were China (10.8%), France (9.5%), Russia (8.6%), Belgium (8%), India (7.7%), and the United States (6.7%).

In West Africa, Senegal’s top trade partners were Mauritania, Mali, and Burkina Faso.

For the first nine months of 2024, the country’s cumulative trade deficit stood at CFA3140.5 billion, slightly lower than the CFA3188.2 billion recorded during the same period in 2023.