Gambiaj.com – (DAKAR, Senegal) – Senegal recorded a remarkable increase in its exports for September 2024, which soared to 422.7 billion CFA francs, an 85.2% rise compared to the previous month’s total of 228.2 billion CFA francs. Compared to the same period last year, the growth was even more pronounced, reaching 97.6%.

According to data released by the National Agency for Statistics and Demography (ANSD), this surge is largely attributed to favorable global oil prices and a significant rise in demand for minerals. Key contributors to this growth included petroleum products, which generated 68.5 billion CFA francs in September, up from 53.8 billion in August.

Titanium exports rose to 11.5 billion CFA francs from 9.5 billion, while non-monetary gold exports saw a staggering leap to 95.7 billion CFA francs from just 14.9 billion the previous month.

Despite these impressive gains, the ANSD highlighted that the export performance could have been even higher were it not for declines in certain sectors. Phosphoric acid exports dropped from 31.5 billion CFA francs in August to 16.9 billion in September, zirconium fell from 7.2 billion to 5.8 billion, and exports of soup and stew preparations declined from 8 billion to 7.3 billion.

Cumulatively, Senegal’s exports for the first nine months of the year reached 2,674.9 billion CFA francs, marking a 6.9% increase from the 2,501.3 billion recorded during the same period in 2023.

The growth in exports highlights the strength and resilience of Senegal’s economy, which continues to benefit from rising global demand for its key commodities. The government remains optimistic about sustaining this positive trend, viewing the robust export sector as a pillar for economic growth and development.

With ongoing efforts to diversify its export portfolio and attract strategic investments, Senegal is poised to enhance its position in the global market, driving sustainable economic progress for the long term.