Senegal is an independent republic with a democratic government which lies on the westernmost bulge of Africa and forms part of the West African Region. The capital city is Dakar. Other major cities are Saint Louis, Thies and Kaolack.
The official language is French and Wolof is the most widely spoken Senegalese language. Senegal has a free-market economy in which the dominant sector is private. The local currency is the CFA-franc. (US$ / CFA Franc - current exchange
rate).
The international time zone for Senegal is GMT and the international dialling code is +221. The national air carrier is Air Senegal. Other principal airlines which fly to the country are Air Afrique and Air France. Visas are not required for European Union countries, citizens of most African Francophone countries, or South African citizens. The reciprocity rule applies for all other countries. Exchange control exists for financial transfers outside the Franc Zone (a monetary zone including France and its former overseas colonies).
Malaria, tuberculosis, cholera, hepatitis A, meningitis, typhoid fever, yellow fever (regional) and schistosomiasis (bilharzia) may be contracted while travelling in Senegal. Travellers should be aware that advance payment for medical services may be required. Prescription medicines should be carried in their original containers together with the prescription. Vaccinations should be obtained before entering Senegal.
The main industry in Senegal is agriculture, although the industrial sector is growing. The main agricultural crops consist of cotton and peanuts and are an important source of foreign exchange income. Apart from agricultural crops being a significant source of foreign income, fish processing, phosphate mining, fertilizer production, construction materials, tourism, and services also contribute considerably to foreign exchange income in the country. A large portion of the country's revenue comes from foreign aid.
The country’s economy has benefited in the late nineties from stable macroeconomic policy. Real GDP growth in 2002 was 2.4%. This was a slowdown as a result of a very low agricultural output, although industrial and the services sectors remained stable.
Authorities have adopted a new public procurement code and applied directives of the West African Monetary and Economic Union to strengthen expenditure management. The government has kept expenditure very much in check and the Investment Promotion Agency (APIX) prepared an action plan to simplify administrative procedures for private investment.
The Senegal oil industry is one of the key elements in the economy of the country. While the upstream potential of the country has yet to be fully assessed, the downstream oil industry is well-developed. There is an oil refinery at Dakar and many of the major international oil companies have a presence in the country. Senegal's mining industry is a small but important contributor to the country's GDP and is an important source of export earnings. Other major industries include maize, rice, sugarcane and livestock.
Senegal was rated 156th on the Human Development Index in 2003. GDP in 2002 amounted to US$4.9 billion, agriculture forming 18%, industry 28% and services 53%.
The main export commodities include chemical products, construction
equipment, cotton, fish, fuel, ground nuts, petroleum products and phosphates.
The main import commodities include capital goods chemical products, fuel,
petroleum products and transport equipment.
All import transactions relating to foreign countries must be domiciled with
an authorised bank when their value exceeds CFAF 500,000 (delivered at the
Senegalese border of c.i.f.). The Dakar Industrial Free Zone is a
government-owned and operated free trade zone established to encourage foreign
and domestic investors to set up labour intensive export orientated industrial
companies to help reduce Senegal's trade deficit and create jobs.
Senegal is a contracting party to the Harmonized System Convention.
As of 2005, Senegal's major trading partners have been France, India, Mali, Nigeria, Guinea-Bissau, The Gambia, Italy, Thailand and the United States.
