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 (2019): Cote d'Ivoire, India, and China |
| Top Industries Source: CIA World Factbook | Processing Peanuts; Fish; Hides; Tourism |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $5,495,999,139 (2020) |
| GDP Growth Rate (annual %) | -0.216% (2020) |
| GDP Per Capita, PPP (current international) | $2,274 (2020) |
GDP Country Rank 165/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 5.931% (2020) |
| External debt stocks, total (DOD, current US$) | $775,654,200 (2020) |
| Total tax rate (% of commercial profits) | 48.4% (2019) |
| Real Interest Rate (5 year average %) | 20.462% (2020) |
| Manufacturing, value added (% of GDP) | 2.841% (2020) |
| Current Account Balance (BoP, current US$) | ($88,026,320) (2020) |
Labor and Employment [1]
| Labor Force, Total | 775,068 (2020) |
| Employment in Agriculture (% of total employment) | 26.569% (2020) |
| Employment in Industry (% of total employment) | 15.771% (2020) |
| Employment in Services (% of total employment) | 57.66% (2020) |
| Unemployment Rate | 9.64% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $689,122,883 (2020) |
| Exports of goods and services (current US$) | $149,412,544 (2020) |
| Total Merchandise Trade (% of GDP) | 40.469% (2020) |
| FDI, net inflows (BoP, current US$) | $71,083,306 (2019) |
| Commercial Service Exports (current US$) | $105,626,034 (2020) |
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.