Economy of the Gambia

Economy of The Gambia
	Bird-watching tourists in the Gambia
Currency	Dalasi (GMD, D)
Fiscal year	1 July – 29 June
Trade organisations	AU, AfCFTA, CEN-SAD, ECOWAS, WTO
Country group	Developing/Emerging; Lower middle income economy;
Statistics
Population	2,468,569 (2023)
GDP	$1.773 billion (nominal, 2019 est.); $6.447 billion (PPP, 2019 est.);
GDP rank	167th (nominal, 2019); 160th (PPP, 2019);
GDP growth	4.8% (2017) 6.6% (2018); 6.0% (2019e) 6.3% (2020f);
GDP per capita	$755 (nominal, 2019 est.); $2,745 (PPP, 2019 est.);
GDP per capita rank	172st (nominal, 2019); 157th (PPP, 2018);
GDP by sector	agriculture: 33%; industry: 8.7%; services: 58.3%; (2008 est.);
Inflation (CPI)	6.5% (2020 est.)
Population below poverty line	48.6% (2015); 9.7% on less than $1.90/day (2020);
Gini coefficient	35.9 medium (2015)
Human Development Index	0.466 low (2018) (174th); 0.293 IHDI (2018);
Labour force	781,558 (2019); 53.4% employment rate (2012);
Labour force by occupation	agriculture 75%; industry, commerce, and services 19%; government 6%;
Unemployment	8.6%
Average gross salary	$0.65 per man-hour (2015)
Main industries	processing peanuts, fish, and hides; tourism; beverages; agricultural machinery assembly, woodworking, metalworking; clothing
External
Exports	$182 million (f.o.b., 2010)
Export goods	lumber, cashews, refined petroleum, fish oil, ground nut oil
Main export partners	China 38%; India 22%; Mali 7%; Chile 5%; (2017);
Imports	$251 million (f.o.b., 2010)
Import goods	clothing and apparel, refined petroleum, rice, raw sugar, palm oil
Main import partners	China 33%; India 10%; Senegal 5%; Brazil 5%; (2019);
FDI stock	N/A (2011)
Gross external debt	$1 Billion (2005 est.)
Public finances
Government debt	150% of GDP (2020)
Revenues	D4.5 billion (2015)
Expenses	$D963.6 million (2015)
Economic aid	$45.4 million (1995)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

The economy of the Gambia is heavily reliant on agriculture. The Gambia has no significant mineral or other natural resources, and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and animal hides.

Short-run economic progress remains highly dependent on foreign aid, and on responsible government economic management as forwarded by International Monetary Fund technical help and advice.

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