Economy - 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-fifth 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 2012, however, sluggish tourism led to a decline in GDP. Tourism brings in about one-fifth of GDP. Agriculture also took a hit in 2012 due to unfavorable weather patterns. The Gambia's re-export trade accounts 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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Distribution of family income - Gini index: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$3.678 billion (2013 est.)
country comparison to the world: 177
$3.456 billion (2012 est.)
$3.283 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$896 million (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
6.4% (2013 est.)
country comparison to the world: 30
5.3% (2012 est.)
-4.3% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$2,000 (2013 est.)
country comparison to the world: 195
$1,900 (2012 est.)
$1,800 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
16.3% of GDP (2013 est.)
country comparison to the world: 102
17.5% of GDP (2012 est.)
23.6% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
household consumption:
89.2%
government consumption:
10.9%
investment in fixed capital:
19.1%
investment in inventories:
0%
exports of goods and services:
28%
imports of goods and services:
-47.3%
(2013 est.)
agriculture:
19.7%
industry:
12.6%
services:
67.7% (2013 est.)
rice, millet, sorghum, peanuts, corn, sesame, cassava (manioc, tapioca), palm kernels; cattle, sheep, goats
peanuts, fish, hides, tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
3.4% (2013 est.)
country comparison to the world: 87
[see also: Industrial production growth rate country ranks ]
777,100 (2007)
country comparison to the world: 150
[see also: Labor force country ranks ]
agriculture:
75%
industry:
19%
services:
6% (1996)
NA%
[see also: Unemployment rate country ranks ]
48.4% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
2%
highest 10%:
36.9% (2003)
50.2 (1998)
country comparison to the world: 20
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$229.6 million
expenditures:
$265.1 million (2013 est.)
25.6% of GDP (2013 est.)
country comparison to the world: 118
[see also: Taxes and other revenues country ranks ]
-4% of GDP (2013 est.)
country comparison to the world: 143
[see also: Budget surplus (+) or deficit (-) country ranks ]
calendar year
6% (2013 est.)
country comparison to the world: 174
4.6% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
9% (31 December 2009)
country comparison to the world: 23
11% (31 December 2008)
[see also: Central bank discount rate country ranks ]
30.5% (31 December 2013 est.)
country comparison to the world: 8
28% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$207.1 million (31 December 2013 est.)
country comparison to the world: 177
$217.9 million (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$479.8 million (31 December 2013 est.)
country comparison to the world: 177
$494.1 million (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$375 million (31 December 2013 est.)
country comparison to the world: 170
$386.2 million (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
-$163.7 million (2013 est.)
country comparison to the world: 81
-$152.5 million (2012 est.)
[see also: Current account balance country ranks ]
$113.2 million (2013 est.)
country comparison to the world: 190
$111.8 million (2012 est.)
[see also: Exports country ranks ]
peanut products, fish, cotton lint, palm kernels
China 57.1%, India 18.6%, France 4.6%, UK 4% (2012)
$359.7 million (2013 est.)
country comparison to the world: 193
$365.8 million (2012 est.)
[see also: Imports country ranks ]
foodstuffs, manufactures, fuel, machinery and transport equipment
China 27.6%, Senegal 8.5%, Brazil 8.1%, UK 6.4%, India 6.1%, Indonesia 4.1% (2012)
$251.2 million (31 December 2013 est.)
country comparison to the world: 158
$236.2 million (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$517.7 million (31 December 2013 est.)
country comparison to the world: 174
$481.5 million (31 December 2012 est.)
[see also: Debt - external country ranks ]
dalasis (GMD) per US dollar -
36.59 (2013 est.)
32.0771 (2012 est.)
28.012 (2010 est.)
26.6444 (2009)
22.75 (2008)