Dakar, Senegal – Senegal’s economy experienced a significant boost in December 2025, driven by a substantial increase in gold production and a corresponding surge in exports. According to data released by the Agence Nationale de la Statistique et de la Démographie (ANSD), the country’s gold output jumped by 55.7% in December, reaching 92.1 billion FCFA compared to 59.1 billion FCFA the previous month. This surge in gold production is a key factor in Senegal’s growing economic momentum.
The impressive performance in the mining sector propelled overall industrial production up by 27.5% year-on-year, the ANSD reported. Gold led the way, followed by zircon (a mineral used in ceramics and foundries, increasing by 12.4% monthly) and attapulgite (a clay mineral used in various industries, up 7.7%). While, production of iodized salt saw a marked decline during the same period. This positive trend in key export commodities is reshaping Senegal’s trade landscape.
Looking at the broader picture, Senegal’s total exports reached a historic high of 825.3 billion FCFA in December 2025, a remarkable 155% increase from the 323.6 billion FCFA recorded in November. The ANSD attributes this dramatic rise primarily to increased sales of gold and hydrocarbons. The country’s trade deficit narrowed to 280.5 billion FCFA, its lowest level in several months, signaling improved economic stability.
Over the entire year of 2025, Senegal’s exports totaled 5,935.2 billion FCFA, a 51.8% increase compared to the 3,909.1 billion FCFA recorded in 2024. Senegalese authorities attribute this structural transformation to the increasing production of oil and gas, complementing the country’s traditional mining exports. This diversification is bolstering Senegal’s economic resilience.
Gold Production Soars, Driving Export Growth
The surge in gold production is particularly noteworthy. Annual gold production in December 2025 exceeded that of December 2024 by 65.9%, rising from 55.5 billion FCFA to 92.1 billion FCFA, according to the ANSD. Throughout 2025, cumulative gold production reached 655.2 billion FCFA, a 42.2% increase from the 460.9 billion FCFA produced in 2024. This growth is largely attributed to the operations of Barrick Gold at the Massawa-Sofia site in the Kédougou region.
The impact of this increased gold production is clearly reflected in Senegal’s trade figures. According to the ANSD, non-monetary gold topped the list of December exports, reaching 206.8 billion FCFA, compared to 95.9 billion FCFA in November. Switzerland emerged as Senegal’s primary customer for gold during this period, accounting for 19% of all gold exports.
Improved Competitiveness and Trade Balance
Senegal also experienced gains in competitiveness during December 2025, according to the ANSD. The country saw price competitiveness gains of 0.3% on a monthly basis, driven by a favorable inflation differential (-1.0 percentage points) despite the appreciation of the CFA franc against the currencies of partner countries (+0.8%). Compared to countries in the Eurozone and the West African Economic and Monetary Union (UEMOA), Senegal recorded competitiveness gains of 1.0% and 0.2%, respectively. However, competitiveness decreased by 0.2% against Asian partners.
The improved trade balance is a significant development for Senegal. The trade deficit was reduced by half in 2025 compared to 2024, demonstrating a strengthening of the country’s economic position. This positive trend is expected to continue as oil and gas production increases, according to Senegalese authorities.
Looking Ahead
While no official production targets for gold have been announced for 2026, the ANSD indicates that authorities anticipate continued growth, contingent on stable global gold prices and sustained extraction rates. The ongoing expansion of the hydrocarbon sector is also expected to contribute to Senegal’s economic progress. The country’s economic future appears increasingly tied to its resource wealth and its ability to effectively manage and diversify its exports.
What are your thoughts on Senegal’s economic growth? Share your comments below and let us know how you think these developments will impact the region.
