(Ecofin Agency) - At the end of August 2017, Senegal’s trade deficit stood at CFA191.1 billion ($345 million), according to a monthly report on the economic situation released by the National Forecast and Economic Analysis Office (DPEE in French).

This led to a 17.5% slump in goods exports, however paired with a 25.5% increase in imports, from July to August, 2017.

Indeed, Senegal exported for CFA101.4 billion ($183 million) worth of goods in August 2017, against CFA122.9 billion ($222 million) during the previous month. This truly corresponds to a 17.5% decrease or CFA21.6 billion ($39 million).

As for imports, they rose by CFA67.5 billion to reach CFA332.3 billion ($600 million), in August.

Therefore, Senegal’s trade deficit widened by CFA80.9 billion ($146 million) between July and August 2017 alone.

If this trend is maintained, the country’s overall trade deficit should still worsen in 2017, just like in the previous years. However, this year it could be less significant than in the past.

Truly, it should be recalled that Senegal’s trade deficit stood at CFA1,606.3 billion ($2.9bn) at the end of 2016. This is against CFA1,690.3 billion (about $3 billion) at the end of 2015.