National Savings: Senegal

Analysis# Senegal National Savings Senegal's national savings stood at 21.883% of GDP in 2026, down from a peak of 27.375% in 2023. Since 2004, when savings hit a low of 13.161% of GDP, the country has increased its savings rate by 66.3%—a substantial long-term gain reflecting improved economic discipline and household wealth accumulation over two decades. The most striking pattern emerged between 2017 and 2023, when savings climbed steadily from 22.54% to 27.375%, signaling a period of economic strength and rising domestic investment. However, a sharp reversal began in 2024, with savings dropping 2 percentage points that year and continuing to decline through 2026. This recent downward trajectory suggests either reduced household income, increased consumption, or capital outflows—trends worth monitoring as Senegal navigates its medium-term fiscal outlook.