The import of cut flowers to Senegal has shown significant fluctuations over the past years. Starting at 56.8 thousand USD in 2013, it peaked dramatically at 480.57 thousand USD in 2019 before experiencing a slight dip and then steady growth again, reaching 513.73 thousand USD in 2023, marking a 6.26% year-on-year increase. The CAGR from 2018 to 2023 was approximately 19.15%, indicating robust average growth despite some volatility.
Forecasts for the upcoming years suggest a continuous upward trend, with the import value expected to climb to 671.73 thousand USD by 2028. The forecasted five-year CAGR is around 4.2%, showing a steady but significant growth rate, with an overall forecasted five-year growth rate of 22.82% from 2023 to 2028.
Future trends to watch for include:
- Potential impacts of global economic conditions on import ability and spending power in Senegal.
- Changes in consumer preferences or shifts towards domestically grown flowers that could affect import values.
- Fluctuations in international trade policies and tariffs affecting import costs.
- Technological advancements in logistics and supply chain management improving efficiency in flower imports.
