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EconomyEconomy - overview
The Gambia has sparse natural resource deposits and a limited agricultural base, and relies in part on remittances from workers overseas and tourist receipts. About three-quarters of the population depends on the agricultural sector for its livelihood and the sector provides for about one-third of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In 2011 tourism contributed about one-fifth of GDP but suffered from the European economic downturn. The Gambia's re-export trade accounted for almost 80% of goods exports. Unemployment and underemployment rates remain high; economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be concerned about the quality of fiscal management and The Gambia's debt burden. Gdp (purchasing power parity) World Ranking: 175
$3.541 billion (2011 est.)
$3.429 billion (2010 est.) $3.25 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$977 million (2011 est.)
Gdp - real growth rate World Ranking: 113
3.3% (2011 est.)
5.5% (2010 est.) 6.7% (2009 est.) Gdp - per capita (ppp) World Ranking: 191
$2,000 (2011 est.)
$2,000 (2010 est.) $1,900 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 26.7%
Industry 17.4% Services 55.9% (2011 est.) Labor force World Ranking: 149
777,100 (2007)
Labor force - by occupation
Agriculture 75%
Industry 19% Services 6% (1996) Unemployment rate
NA%
Population below poverty line
48.4% NA%
Household income or consumption by percentage share
Lowest 10% 2%
Highest 10% 36.9% (2003) Distribution of family income - gini index World Ranking: 23
50.2 (1998)
Investment (gross fixed) World Ranking: 26
27.6% of GDP (2011 est.)
Budget
Revenues $176.5 million
Expenditures $220.6 million (2011 est.) Taxes and other revenues World Ranking: 179
18.1% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 146
-4.5% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 117
4.8% (2011 est.)
5% (2010 est.) Central bank discount rate World Ranking: 23
9% (31 December 2009)
11% (31 December 2008) Commercial bank prime lending rate World Ranking: 6
28% (31 December 2011 est.)
28% (31 December 2010 est.) Stock of narrow money World Ranking: 178
$219.2 million (31 December 2011 est.) $212.1 million (31 December 2010 est.) Stock of broad money World Ranking: 177
$480.9 million (31 December 2011 est.) $468.2 million (31 December 2010 est.) Stock of domestic credit World Ranking: 175
$380.3 million (31 December 2011 est.) $355.6 million (31 December 2010 est.) Market value of publicly traded shares
$NA
Agriculture - products
Rice, millet, sorghum, peanuts, corn, sesame, cassava (manioc), palm kernels; cattle, sheep, goats Industries
Processing peanuts, fish, and hides; tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing Industrial production growth rate World Ranking: 20
8.9% (2010 est.)
Electricity - production World Ranking: 172
220 million kWh (2008 est.)
Electricity - consumption World Ranking: 180
204.6 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 174
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 184
2,000 bbl/day (2010 est.)
Oil - exports World Ranking: 127
41.62 bbl/day (2009 est.)
Oil - imports World Ranking: 171
2,807 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 133
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 183
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 178
0 cu m (2009 est.)
Natural gas - exports World Ranking: 101
0 cu m (2009 est.)
Natural gas - imports World Ranking: 194
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 179
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 75
-$118.1 million (2011 est.)
-$122.3 million (2010 est.) Exports World Ranking: 190
$103.9 million (2011 est.)
$98.2 million (2010 est.) Exports - commodities
Peanut products, fish, cotton lint, palm kernels Exports - partners
China 41.8%, India 20.8%, France 10.4%, UK 6.3% (2011) Imports World Ranking: 195
$327 million (2011 est.)
$313.1 million (2010 est.) Imports - commodities
Foodstuffs, manufactures, fuel, machinery and transport equipment Imports - partners
China 29.2%, Brazil 10.1%, Senegal 8.7%, India 5.5%, Netherlands 4.1%, Turkey 4% (2011) Reserves of foreign exchange and gold World Ranking: 155
$223.2 million (31 December 2011 est.) $201.6 million (31 December 2010 est.) Debt - external World Ranking: 164
$642.3 million (31 December 2011 est.) $573.8 million (31 December 2010 est.) Exchange rates
Dalasis (GMD) per US dollar -
29.462 (2011 est.) 28.012 (2010 est.) 26.6444 (2009) 22.75 (2008) 27.79 (2007) Fiscal year
Calendar year
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The Gambia (Banjul):
 
GPS points from The Gambia (Banjul)
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The Gambia gained its independence from the UK in 1965. Geographically surrounded by Senegal, it formed a short-lived federation of Senegambia between 1982 and 1989. In 1991 the two nations signed a friendship and cooperation treaty, but tensions have flared up intermittently since then. Yahya JAMMEH led a military coup in 1994 that overthrew the president and banned political activity. A new constitution and presidential elections in 1996, followed by parliamentary balloting in 1997, completed a nominal return to civilian rule. JAMMEH has been elected president in all subsequent elections including most recently in late 2011.