Key Market Indicators
In a significant downturn, Senegalese nickel exports plummeted by 63% in 2023, reaching approximately $2,350 from $6,390 in 2022. This sharp decline marked a sustained downward trend, with the nation's nickel supply decreasing by nearly 46% annually since 2007. In the global rankings for 2023, Senegal fell to the 67th position. Kazakhstan surpassed Senegal with an export value of $2,350. Leading the list were Canada, Russia, and Malaysia, securing the second, third, and fourth places, respectively. On the import front, Senegalese nickel imports are projected to see a modest growth, reaching around $55,620 by 2028, up from $55,420 in 2023. This represents a slight annual compound growth rate of 0.1%. However, it is noteworthy that since 2001, the country's demand for nickel has decreased annually by 6.3%.
