Gross savings in Senegal
Senegal: Gross savings was 22.9% in 2023. ◆ Volatile
Gross savings in Senegal, 1974–2023
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
Senegal recorded 22.9% for gross savings in 2023.
Compared with earlier readings it is down 8.9% on the previous year and up 40.8% over ten years.
Over the whole period, gross savings in Senegal peaked at 26.1% in 2021 and was at its lowest, 1.5%, in 1993.
That places Senegal 84th out of 177 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross savings in Senegal, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1974 | 21.0% | — |
| 1975 | 17.3% | -17.6% |
| 1976 | 15.0% | -13.4% |
| 1977 | 15.4% | +2.4% |
| 1978 | 9.8% | -35.9% |
| 1979 | 9.2% | -6.4% |
| 1980 | 3.5% | -62.2% |
| 1981 | 7.5% | +113.9% |
| 1982 | 8.0% | +7.1% |
| 1983 | 5.2% | -34.7% |
| 1984 | 5.0% | -4.9% |
| 1985 | 5.1% | +2.4% |
| 1986 | 2.6% | -48.2% |
| 1987 | 5.9% | +125.9% |
| 1988 | 2.6% | -55.5% |
| 1989 | 2.7% | +2.3% |
| 1990 | 2.6% | -5.0% |
| 1991 | 3.0% | +17.3% |
| 1992 | 3.7% | +24.2% |
| 1993 | 1.5% | -60.2% |
| 1994 | 5.8% | +289.7% |
| 1995 | 8.5% | +46.0% |
| 1996 | 8.0% | -6.0% |
| 1997 | 10.8% | +34.9% |
| 1998 | 11.1% | +3.5% |
| 1999 | 11.5% | +3.6% |
| 2000 | 11.3% | -2.3% |
| 2001 | 14.7% | +30.1% |
| 2002 | 13.0% | -11.2% |
| 2003 | 14.5% | +11.5% |
| 2004 | 13.6% | -6.6% |
| 2005 | 15.3% | +12.9% |
| 2006 | 13.4% | -12.5% |
| 2007 | 15.2% | +13.1% |
| 2008 | 14.9% | -1.6% |
| 2009 | 15.0% | +0.5% |
| 2010 | 16.3% | +8.7% |
| 2011 | 14.4% | -11.7% |
| 2012 | 15.8% | +10.2% |
| 2013 | 16.3% | +2.8% |
| 2014 | 19.0% | +16.7% |
| 2015 | 20.5% | +8.1% |
| 2016 | 21.2% | +3.0% |
| 2017 | 22.5% | +6.2% |
| 2018 | 23.1% | +2.6% |
| 2019 | 23.8% | +3.3% |
| 2020 | 24.7% | +3.8% |
| 2021 | 26.1% | +5.7% |
| 2022 | 25.2% | -3.7% |
| 2023 | 22.9% | -8.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.6% | 9.2% | 21.0% | 6 |
| 1980s | 4.8% | 2.6% | 8.0% | 10 |
| 1990s | 6.7% | 1.5% | 11.5% | 10 |
| 2000s | 14.1% | 11.3% | 15.3% | 10 |
| 2010s | 19.3% | 14.4% | 23.8% | 10 |
| 2020s | 24.7% | 22.9% | 26.1% | 4 |
Countries ranked near Senegal
More economy & growth data for Senegal
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.53 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4.03 Percent per annum (2029)
- Industry (including construction), value added (constant 2015 US$) 16.68 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.2188 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 427.68 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 16.68 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 129.67 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 253,471 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 8.6 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.4633 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross savings in Senegal?
- Gross savings in Senegal was 22.9% in 2023, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Senegal?
- The highest recorded value was 26.1% in 2021.
- What is the lowest gross savings recorded in Senegal?
- The lowest recorded value was 1.5% in 1993.
- How does Senegal rank for gross savings?
- Senegal ranks 84th out of 177 countries with data for 2023.
- Is gross savings rising or falling in Senegal?
- Over the last ten years it is up 40.8%. The long-run trend across the full record is volatile.
- Where does this Senegal data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.