The Commodities market in Senegal is experiencing a notable shift in recent years, reflecting evolving customer preferences and local special circumstances.
Customer preferences: Customers in Senegal are increasingly showing interest in diversifying their investment portfolios by including Commodities. This trend is in line with global market behavior where investors seek alternative assets for hedging against inflation and market volatility.
Trends in the market: The Commodities market in Senegal is witnessing a growing demand for financial derivatives, driven by the need for risk management and speculation opportunities. Investors are attracted to the potential for high returns and portfolio diversification that Commodities offer. This trend is further amplified by the increasing awareness and accessibility of these financial instruments in the country.
Local special circumstances: Senegal's economy is experiencing steady growth, leading to a rise in disposable income among the population. This economic stability and growth are encouraging more individuals and institutional investors to explore investment opportunities in the Commodities market. Additionally, the government's efforts to promote financial inclusion and develop the capital market infrastructure are creating a conducive environment for the expansion of the Commodities market in Senegal.
Underlying macroeconomic factors: The stability of Senegal's economy, coupled with the government's focus on economic diversification and development, is playing a significant role in driving the growth of the Commodities market. As the country continues to attract foreign investment and improve its regulatory framework, the Commodities market is expected to further expand, offering investors a wider range of options to hedge risks and optimize their investment strategies.
Data coverage:
Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.Additional Notes:
The market is updated twice per year in case market dynamics change.
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