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Senegal's accession to the Zlecaf: a positive impact recorded in terms of GDP

04/09/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Senegal's accession to the African Continental Free Trade Area (Zlecaf) seems to lead to a slight increase in its Gross Domestic Product (GDP) of 1.3% on average over the first 10 years.

The Department of Planning and Economic Studies (Dpee) of the Ministry in charge of the Economy, Planning and Cooperation shows from its simulations that Senegal's accession to the Zlecaf has led to a reduction or even the abolition of several tariff lines. This reduction in customs duties would lead to a decrease in the prices of imported products, thus promoting an increase in trade between states, according to the Dpee. Dpee simulations reveal a slight increase in GDP of 1.3% on average over the first 10 years. This improvement in economic activity is mainly the result of the increase in production recorded in several sectors, despite slight decreases observed in some branches. Also, the breakdown of GDP at the sectoral level shows that the Zlecaf would be beneficial to the refining industry, which sees its production increase by 27.3% on average over

the long term.
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