The Gambia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Low Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | About three-quarters of the population depend on the agricultural sector for its livelihood and the sector provides for about one-quarter of GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Togo, Cote d'Ivoire, and China |
| Top Industries Source: CIA World Factbook | Processing Peanuts; Fish; Hides; Tourism |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $6,791,578,580 (2022) |
| GDP Growth Rate (annual %) | 4.924% (2022) |
| GDP Per Capita, PPP (current international) | $2,510 (2022) |
GDP Country Rank 164/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 11.513% (2022) |
| External debt stocks, total (DOD, current US$) | $1,073,620,444 (2021) |
| Total tax rate (% of commercial profits) | 48.4% (2019) |
| Real Interest Rate (5 year average %) | 10.805% (2021) |
| Manufacturing, value added (% of GDP) | 1.712% (2022) |
| Current Account Balance (BoP, current US$) | ($94,081,349) (2021) |
Labor and Employment [1]
| Labor Force, Total | 947,408 (2022) |
| Employment in Agriculture (% of total employment) | 48.522% (2021) |
| Employment in Industry (% of total employment) | 7.385% (2021) |
| Employment in Services (% of total employment) | 44.094% (2021) |
| Unemployment Rate | 4.78% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $699,376,640 (2022) |
| Exports of goods and services (current US$) | $103,871,094 (2022) |
| Total Merchandise Trade (% of GDP) | 28.508% (2022) |
| FDI, net inflows (BoP, current US$) | $236,000,000 (2022) |
| Commercial Service Exports (current US$) | $103,792,193 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, The Gambia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.