SN GDP Growth Rate YoY: September 2025 Release and Macro Outlook
Key Takeaways: SN’s GDP growth rate for September 2025 came in at 11.80%, slightly above the 10.50% estimate but marginally below the previous 12.10%. This robust expansion contrasts sharply with sub-4% growth in 2024’s first three quarters, signaling a strong economic rebound. Monetary policy remains cautiously accommodative amid inflationary pressures. External risks from regional instability and commodity price volatility persist. Financial markets showed muted initial reactions, reflecting balanced optimism. Structural reforms and fiscal consolidation remain critical for sustaining long-term growth.
Table of Contents
The latest GDP Growth Rate YoY for SN, released on September 29, 2025, registered at 11.80%, surpassing market expectations of 10.50% but slightly trailing the prior 12.10% reading. This figure marks a continuation of a strong recovery phase following subdued growth rates averaging below 4% throughout 2024. The data, sourced from the Sigmanomics database, highlights a significant acceleration compared to the 3.90% recorded in September 2024 and the 2.30% low in July 2024.
Drivers this month
- Robust agricultural output boosted by favorable weather conditions contributed approximately 0.45 percentage points (pp).
- Manufacturing sector expansion, driven by increased domestic demand, added 0.30 pp.
- Services sector growth, particularly in telecommunications and finance, contributed 0.25 pp.
- Government infrastructure spending supported growth by 0.20 pp.
- Export growth slowed slightly, subtracting 0.10 pp due to regional trade disruptions.
Policy pulse
The growth rate remains above the central bank’s inflation target range of 3-5%, suggesting ongoing demand pressures. The Monetary Policy Committee has maintained a cautious stance, keeping benchmark rates steady at 6.50% to balance growth and inflation risks.
Market lens
Immediate reaction: The local currency XOF showed a mild 0.10% appreciation against the USD in the first hour post-release, while the 2-year government bond yield edged up 5 basis points, reflecting moderate confidence in sustained growth.
Examining core macroeconomic indicators alongside GDP growth reveals a mixed but generally positive environment. Inflation remains elevated at 7.20% YoY as of August 2025, driven by food and energy prices. Unemployment has declined modestly to 8.10%, down from 9.30% a year ago, supporting consumer spending. The fiscal deficit narrowed to 3.80% of GDP in H1 2025, aided by improved tax collection and restrained current spending.
Monetary policy & financial conditions
The central bank’s neutral stance, with stable policy rates and moderate liquidity injections, has helped maintain credit growth at 9% YoY. Banking sector non-performing loans remain elevated at 12%, posing risks to financial stability. Inflation expectations remain anchored but vulnerable to external shocks.
Fiscal policy & government budget
Fiscal consolidation efforts continue, with government debt-to-GDP ratio steady at 58%. Infrastructure investments, particularly in transport and energy, are prioritized to support medium-term growth. However, contingent liabilities from state-owned enterprises require close monitoring.
Drivers this month
- Agricultural output surged 15% YoY, driven by improved irrigation and input subsidies.
- Manufacturing output rose 9% YoY, led by textiles and processed foods.
- Services sector expanded 8.50% YoY, with finance and telecom leading.
Policy pulse
The central bank’s inflation target of 3-5% remains challenged by current 7.20% inflation, but the GDP growth rate supports continued accommodative monetary policy with vigilance on inflation risks.
Market lens
Immediate reaction: The XOF currency strengthened slightly, while short-term bond yields rose modestly, indicating investor confidence tempered by inflation concerns.
This chart underscores SN’s economic momentum, trending upward after a two-year slowdown. The data signals a shift from recovery to expansion, but inflation and external risks could moderate growth ahead.
Looking ahead, SN’s GDP growth trajectory faces a range of scenarios shaped by domestic policies and external conditions. The baseline forecast projects growth stabilizing around 10-12% for the next two quarters, supported by ongoing infrastructure projects and favorable commodity prices.
Bullish scenario (30% probability)
- Continued strong agricultural yields and export diversification.
- Successful fiscal reforms leading to improved investor confidence.
- Stable regional security enhancing trade flows.
- GDP growth exceeding 13% YoY by Q1 2026.
Base scenario (50% probability)
- Moderate growth around 10-12% YoY.
- Monetary policy remains accommodative but vigilant.
- Inflation gradually declines toward target range.
- Fiscal deficit remains contained near 4% of GDP.
Bearish scenario (20% probability)
- Commodity price shocks and regional instability disrupt growth.
- Inflation spikes above 8%, forcing monetary tightening.
- Fiscal slippage increases debt burden.
- GDP growth slows below 8% YoY.
SN’s latest GDP growth rate of 11.80% confirms a robust economic rebound, outpacing most recent estimates and signaling resilience amid global uncertainties. While inflation and fiscal risks persist, the overall macroeconomic environment supports sustained expansion. Policymakers must balance growth with inflation control and structural reforms to ensure long-term stability. Financial markets are likely to remain sensitive to inflation data and geopolitical developments in the region.
Key Markets Likely to React to GDP Growth Rate YoY
The GDP growth rate in SN influences several key markets, including equities, forex, and crypto. The following symbols historically track economic momentum and investor sentiment linked to SN’s macro environment:
- BRVM – Regional stock exchange reflecting SN’s corporate earnings and economic health.
- USDXOF – Currency pair indicating XOF strength against USD, sensitive to growth and inflation.
- BNBUSDT – Crypto asset influenced by regional liquidity and investor risk appetite.
- MTN – Telecom giant with significant exposure to SN’s services sector growth.
- EURXOF – Euro to XOF exchange rate, reflecting trade and capital flows.
Indicator vs. BRVM Index Since 2020
Since 2020, SN’s GDP growth rate and the BRVM stock index have shown a positive correlation, with growth surges in late 2024 and 2025 coinciding with BRVM rallies. The 11.80% GDP growth in September 2025 aligns with a 7% year-to-date increase in BRVM, underscoring investor confidence in the economic recovery.
FAQs
- What is the current GDP Growth Rate YoY for SN?
- The latest GDP Growth Rate YoY for SN is 11.80% as of September 2025, slightly above estimates and previous readings.
- How does SN’s GDP growth impact inflation and monetary policy?
- Strong GDP growth exerts upward pressure on inflation, prompting cautious monetary policy to balance growth with price stability.
- What are the main risks to SN’s economic outlook?
- Key risks include commodity price volatility, regional geopolitical tensions, and fiscal slippage that could undermine growth momentum.
Takeaway: SN’s economy is on a strong growth path, but balancing inflation and external risks will be critical for sustained prosperity.
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.









The September 2025 GDP growth rate of 11.80% exceeds the prior month’s 12.10% only slightly but remains well above the 12-month average of 6.50%. This marks a strong rebound from the 3.90% recorded exactly one year ago and the 2.30% low in mid-2024. The acceleration reflects a broad-based recovery across agriculture, manufacturing, and services sectors.
Comparing the current print with the subdued 2024 readings highlights the economy’s resilience amid global uncertainties and domestic challenges. The growth trajectory suggests that SN is transitioning from a post-pandemic recovery phase into a more sustainable expansion cycle.