Economy(Thomas)

This is the Senegal Currency. It is called a CFA.

The Gross Domestic Product in 2008 was $13.9 billion. It grows about 1.25% every year. The GDP in the capital is about $1,800. The country's natural resources are fish, peanuts, phosphate, iron ore, cotton, gold, titanium, oil, and gas. Agirculture is 12.4%, Industry is 19.8%, Construction/Comprimise 16.3%, Energy/Mining 3.5 %, Services 55.6%, transport, warehouse, and communications take up 13.4%, and trade is 16.6%

About 70% of the people in Senegal make their living by farming. The country is most known for cash crop peanuts. People use about 40% of their farmland so they may grow peanuts. Some of the other things they grow include vegetables, poultry, rice, cotton, cassava, sorghum, corn, and millet.

In the last few decades the people of Senegal have been trying to make tourism a larger part of their economy. They have been succesful attracting tourists to all of their local beaches, especially the beaches in Dakar. During 1970 the government invented campements. These are for travelers who want to experience what life is like in Senegal. The project turned out to be very successful. Unfortunately, over the past few years, the campements have been surrounded by violence and danger. As a result, the tourist rate has declined.

Senegal has had a stable economy despite some serious issues. Almost half the people in the country do not have jobs. Also 40% of the jobs that kids normally have had do not exist anymore. This is because adults have been desperate for pay. But worst of all, the poverty rate is 54%, which is truly awful.

Djiba says that the economy is not the worst it has ever been. It has been worst in years before this one. In Dakar there are plenty of jobs for the men of the house to work. But the economy still isn't very good. The government has allowed people to sell outrageous prices for supplies. Things such as gas, food, and transportation are the highest they have ever been. He also says that about 8,000 CFA is about $16. So its hard to make a economic comanionaship with other countries.

In 2008 they were able to trade their main exports. They exported $2.05 billion dollars of CFA. The main exports are fish products, cotton, phosphates, and peanuts. Major markets in percent are Mail 19.6%, India 7.2%, France 5.5%, The Gambia 5.4%, Italy 4.9%, and the USA 0.5%. Senegal was able to import about $4.26 billion. Their main imports are food, petroleum, consumer goods, petroleum products, machinery, transport equipment, and computer equipment. The countries top suppliers in percentage, France 19.7%, U.K 15.2%, China 6.7%, 4.6%, Thailand 4.4%, Netherlands 4.1%, USA 2%.



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