Economy of Gambia
Population: 2.28 M (2018)
GDP per Capita: 716 USD (2018)
1,630 M.

GDP USD

(2018)

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360 M.

EXPORTS USD

(2018)

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680 M.

IMPORTS USD

(2018)

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86.57 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.55 % (2018)
GDP of 2010 USD USD 1.80 B. (2018)
GDP Current USD USD 1.63 B. (2018)
GDP per Capita Current USD USD 716 (2018)
GDP per capita, PPP USD 2,318 (2018)
GDP per Capita, 2010 USD USD 786 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 12.35 % (2018)
Government Spending USD 0.20 B. (2018)
Government Debt % GDP 86.57 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 104.35 (2018)
Trade Openness 63.36 % (2018)
Exports of Goods and Services % GDP 21.85 % (2018)
Exports Goods & Services USD 0.36 B. (2018)
Exports Annual Growth 3.00 % (2018)
Imports as % GDP 41.51 % (2018)
Total Imports USD 0.68 B. (2018)
Foreign Direct Investment % GDP 2.02 % (2018)
Foreign Direct Investment USD 0.03 B. (2018)
Current Account Balance % GDP USD -4.82 % (2018)
Current Account Balance USD -0.08 B. (2018)
Trade Balance % GDP -19.66 % (2018)
Trade Balance USD -0.27 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.19 B. (2018)
Remittances % GDP 15.00 % (2018)
Remittances USD 194 M. (2018)
Balance of Payments USD 46 M. (2016)

Labor Market

Indicator Value
Labor Force 0.78 M. (2019)
Unemployment Rate 8.90 % (2019)
Unemployment Rate Females 12.24 % (2019)
Unemployment Rate Males 6.56 % (2019)
Youth Unemployment (ages 15-24) 12.31 % (2019)
Labor Force Participation Rate 59.57 % (2019)
Labor Force (Percent Female) 44.00 % (2019)
Female Labor Force Participation Rate 51.85 % (2019)
Male Labor Force Participation Rate 67.70 % (2019)
Dependent People 88.18 % (2018)

Agriculture Sector

Indicator Value
Forest Area 48.40 % (2016)
Forest Area km² 4,896 km² (2016)
Agricultural Land 59.78 % (2016)
Agricultural Land km² 6,050 km² (2016)
Employment 29.52 % (2019)
Value added % GDP 19.87 % (2018)
Agriculture Value added USD 0.32 B. (2018)
Crop Production Index 105.30 (2016)
Precipitation 836 mm (2014)
Arable Land 44 % (2016)
Cereal Yield 848 kg/hectare (2017)
Food production index 107 (2016)
Rural Population 39 % (2018)
Fertilizer use of Arable Land 1 kg/hectare (2016)
Livestock Production Index 107 (2016)
Economy of Gambia

According to the World Bank and its latest published data, the economy of the Gambia presents a growth rate of 6.55 % (2018) to the previous year.

With a population that reaches 2.28 M (2018) and a gross domestic product of USD 1.63 B. (2018), it translates a Gross Domestic Product per Capita of USD 716 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Gambia also has a workforce of 0.78 M. (2019) with an unemployment rate of 8.90 % (2019), where women represent 12.24 % (2019) and men 6.56 % (2019), the unemployment rate for young people between 15-24 years old stood at 12.31 % (2019). The total number of dependent people stands at 88.18 % (2018).

The central government spent 12.35 % (2018) of its gross domestic product that year, which in absolute terms is USD 0.20 B. (2018). Its consolidated public debt reached 86.57 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Gambia exported USD 0.36 B. (2018), which represents 21.85 % (2018) of its gross domestic product, in that same sense its imports reached USD 0.68 B. (2018) with a direct foreign investment of USD 0.03 B. (2018).

Gambia has a forest area of 4,896 km² (2016), which represents 48.40 % (2016) of its total area, an average rainfall of 836 mm (2014) per year and a population of 39 % (2018) living in rural areas. With a total area of 6,050 km² (2016) available for agriculture and 29.52 % (2019) of its employments, the agricultural sector contributes to the economy of the Gambia about USD 0.32 B. (2018) (19.87 % (2018) of its GDP).