Leveraging the Potential of the Services Sector to Support Accelerated Growth in Senegal
Services play a major role in the Senegalese economy, accounting for 66 percent of economic activity and contributing nearly three-quarters of gross domestic product growth between 2006 and 2013. During the period, the private sector contributed 71...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/368901492538808429/Leveraging-the-potential-of-the-services-sector-to-support-accelerated-growth-in-Senegal http://hdl.handle.net/10986/26469 |
| Summary: | Services play a major role in the
Senegalese economy, accounting for 66 percent of economic
activity and contributing nearly three-quarters of gross
domestic product growth between 2006 and 2013. During the
period, the private sector contributed 71 percent of
services and accounted for 84 percent of its contribution to
growth. The dynamism of private services is driven primarily
by telecommunications and financial services: while the two
sub-sectors made up 21 percent of private services, they
accounted for nearly half (48 percent) of the contributions
of private services to growth during the period. These
trends are projected to improve in the future. Available
data on employment and credit confirm the critical
importance of services. In 2013, over 50 percent of credit
to the economy was devoted to services, and 55 percent of
the labor force was employed in the services sector,
including 36 percent of the rural workforce and as much as
80 percent of the urban workforce. |
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