unbekannter Gast

The Gambia: Economy#

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.

Economic Facts#

GDP (purchasing power parity)$3.678 billion (2013 est.)
$3.456 billion (2012 est.)
$3.283 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate6.4% (2013 est.)
5.3% (2012 est.)
-4.3% (2011 est.)
GDP - per capita (PPP)$2,000 (2013 est.)
$1,900 (2012 est.)
$1,800 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 19.7%
industry: 12.6%
services: 67.7% (2013 est.)
Population below poverty line48.4% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 2%
highest 10%: 36.9% (2003)
Labor force - by occupationagriculture: 75%
industry: 19%
services: 6% (1996)
Exports - commoditiespeanut products, fish, cotton lint, palm kernels
Exports - partnersChina 57.1%, India 18.6%, France 4.6%, UK 4% (2012)
Agriculture - productsrice, millet, sorghum, peanuts, corn, sesame, cassava (manioc, tapioca), palm kernels; cattle, sheep, goats
Budgetrevenues: $229.6 million
expenditures: $265.1 million (2013 est.)
Imports - commoditiesfoodstuffs, manufactures, fuel, machinery and transport equipment
Imports - partnersChina 27.6%, Senegal 8.5%, Brazil 8.1%, UK 6.4%, India 6.1%, Indonesia 4.1% (2012)
Exchange ratesdalasis (GMD) per US dollar -
36.59 (2013 est.)
32.0771 (2012 est.)
28.012 (2010 est.)
26.6444 (2009)
22.75 (2008)
Exports$113.2 million (2013 est.)
$111.8 million (2012 est.)
Debt - external$517.7 million (31 December 2013 est.)
$481.5 million (31 December 2012 est.)
Fiscal yearcalendar year
Imports$359.7 million (2013 est.)
$365.8 million (2012 est.)
Industrial production growth rate3.4% (2013 est.)
Industriespeanuts, fish, hides, tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
Inflation rate (consumer prices)6% (2013 est.)
4.6% (2012 est.)
Labor force777,100 (2007)
Unemployment rateNA%
Distribution of family income - Gini index50.2 (1998)
Current account balance-$163.7 million (2013 est.)
-$152.5 million (2012 est.)
Reserves of foreign exchange and gold$251.2 million (31 December 2013 est.)
$236.2 million (31 December 2012 est.)
GDP (official exchange rate)$896 million (2013 est.)
Market value of publicly traded shares$NA
Central bank discount rate9% (31 December 2009)
11% (31 December 2008)
Commercial bank prime lending rate30.5% (31 December 2013 est.)
28% (31 December 2012 est.)
Stock of domestic credit$375 million (31 December 2013 est.)
$386.2 million (31 December 2012 est.)
Stock of narrow money$207.1 million (31 December 2013 est.)
$217.9 million (31 December 2012 est.)
Stock of broad money$479.8 million (31 December 2013 est.)
$494.1 million (31 December 2012 est.)
Taxes and other revenues25.6% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-4% of GDP (2013 est.)
GDP - composition, by end usehousehold 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.)
Gross national saving16.3% of GDP (2013 est.)
17.5% of GDP (2012 est.)
23.6% of GDP (2011 est.)