Lake Retba (Pink Lake) – Senegal

DISCOVER SENEGAL

 

  • Country Profile
Senegal’s economy is driven by mining, construction, tourism, fisheries and agriculture which is the primary source of employment in rural areas. The country’s key export industries include phosphate mining, fertilizer production, agricultural products and commercial fishing and it is also working on oil exploration projects. Senegal relies heavily on donor assistance, remittances and foreign direct investment.
President Macky SALL, who was elected in March 2012 under a reformist policy agenda, inherited an economy with high energy costs, a challenging business environment, and a culture of overspending. President SALL unveiled an ambitious economic plan, the Emerging Senegal Plan, which aims to implement priority economic reforms and investment projects to increase economic growth while preserving macroeconomic stability and debt sustainability. Bureaucratic bottlenecks and a challenging business climate are among the perennial challenges that may slow the implementation of this plan.
Senegal is receiving technical support from the IMF from 2015 to 2017 under a Policy Support Instrument to assist with implementation of the Emerging Senegal Plan. Investors have signaled confidence in the country through Senegal’s successful Eurobond issuances in recent years, including in 2014.

Source: Central Intelligence Agency (CIA) Library

  • AGOA Apparel Status

Senegal was designated as AGOA Eligible Country on October 2nd 2000. Senegal has been declared eligible for Apparel Provision on April 23rd 2002 and benefits the Lesser Developed Country Special Rule for Apparel (3rd country fabric) and Lesser Developed Country Rule for Certain Textile Articles (Category 0). Regarding the Category 9 Textile Products, Senegal is eligible to export Handloomed / Handmade but not the folklore annex nor the ethnic printed fabrics.