Senegal's Balance of Payments and International Investment Position stood at 146.5 billion in 2019 compared to 527.2 billion in 2018. According to the National Director of the Central Bank of West African States (Bceao) for Senegal, the balance of payments in 2019 reveals a persistence of the structural deficit of the current account, a concentration of imports, the strong dynamics of migrant remittances, a positive balance in the capital account.
On the occasion of the thirteenth edition of the annual day of dissemination of senegal's balance of payments and international investment position, Ahmadou Al Aminou Lo, National Director of the Bceao for Senegal announces that a deficit of 95.6 billion is expected in 2020. "In 2019, the overall balance of payments stood at 146.5 billion against 527.2 billion in 2018 and 125.6 billion in 2017," he said > <. According to him, there is a concentration of exports around a few products, namely non-monetary gold, fishery products, petroleum, phosphoric acids and peanuts; the strong momentum of migrant remittances, which have increased by 44% in five years.
He also highlighted the significant inflows under the Financial Account, mainly Foreign Direct Investment (FDI), Portfolio Investment (including the proceeds of Eurobond issues) and other investments, but also a geographical orientation of exports with a predominance of Africa, followed by Asia and Europe.