Current Account Balance: Senegal

Analysis# Senegal Current Account Balance Senegal's current account balance stands at -5.4% of GDP in 2026, reflecting a significant deficit in the country's external position. The metric has fluctuated considerably over the past five decades, ranging from a peak deficit of -3.5% in 2010 to a severe low of -20% in 2022—a 46% total deterioration since 1980. The current 2026 projection suggests modest improvement but remains substantially weaker than historical benchmarks. The period from 2020 to 2022 marked a dramatic widening of the deficit, with the balance plummeting from -10.9% to -20% as external pressures intensified. Since that low point, Senegal has demonstrated recovery, contracting the deficit by roughly 14.6 percentage points over four years. The recent downward trajectory from -12.5% in 2024 to -5.4% in 2026 indicates strengthening external conditions, though sustained monitoring remains essential to ensure this improvement continues.