Countries
The Gambia
Key Economic Indicators
$9.59 billion
$3,476
5.55%
11.56%
6.52%
$2.508 billion (2024 est.)
82.3% of GDP (2016 est.)
$-99,793,232
Economic Overview
low-income West African economy; agriculture-dominant; high poverty rate; heightened inflation; dependent on foreign assistance and remittances; structural reforms conditioned by IMF Extended Credit Facility program
All Economic Data
Agricultural products
rice, groundnuts, milk, millet, oil palm fruit, maize, vegetables, cassava, fruits, sorghum (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$221.137 million (2018 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$308.887 million (2018 est.)
Currency
code:
GMD
name:
dalasi (GMD) [D]
Current account balance
$-99,793,232
Current account balance 2022:
-$90.251 million (2022 est.)
Current account balance 2023:
-$120.064 million (2023 est.)
Current account balance 2024:
-$74.374 million (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$1.64 billion
Debt - external 2023:
$902.421 million (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
dalasis (GMD) per US dollar -
Exchange rates 2019:
50.062 (2019 est.)
Exchange rates 2020:
51.502 (2020 est.)
Exchange rates 2021:
51.484 (2021 est.)
Exchange rates 2022:
54.923 (2022 est.)
Exchange rates 2023:
61.096 (2023 est.)
Exports
$210.4 million
Exports 2022:
$267.377 million (2022 est.)
Exports 2023:
$717.774 million (2023 est.)
Exports 2024:
$838.409 million (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
packaged medicine, cars, harvesting machinery, refined petroleum, trailers (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Kazakhstan 92%, Guinea-Bissau 2%, China 1%, India 1%, Greece 1% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$232.36 million
GDP - composition, by end use
Exports of goods and services:
6.6% (2024 est.)
Government consumption:
8.5% (2024 est.)
Household consumption:
83.2% (2024 est.)
Imports of goods and services:
-37.2% (2024 est.)
Investment in fixed capital:
39% (2024 est.)
Investment in inventories:
0% (2024 est.)
Note:
<strong>note:</strong> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
24.1% (2024 est.)
Industry:
14.7% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
53.9% (2024 est.)
GDP (official exchange rate)
$2.508 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$871
Gini Index coefficient - distribution of family income
35.9 (2015)
Gini Index coefficient - distribution of family income 2020:
38.8 (2020 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$2.37 billion
GNI per capita
$880
Gross domestic investment
30 % of GDP
Household income or consumption by percentage share
Highest 10%:
30.5% (2020 est.)
Lowest 10%:
2.6% (2020 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$803.76 million
Imports 2022:
$829.516 million (2022 est.)
Imports 2023:
$1.353 billion (2023 est.)
Imports 2024:
$1.549 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
crude petroleum, refined petroleum, cotton fabric, iron alloys, rice (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Kazakhstan 26%, China 18%, Senegal 8%, India 7%, Brazil 4% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
2.4% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
peanuts, fish, hides, tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
Inflation rate (consumer prices)
11.56%
Inflation rate (consumer prices) 2022:
11.5% (2022 est.)
Inflation rate (consumer prices) 2023:
17% (2023 est.)
Inflation rate (consumer prices) 2024:
11.6% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
783,100 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
807,275 persons
Labor force - by occupation
agriculture:
27.55%
industry:
18.8%
services:
53.64%
Population below poverty line
53.4% (2020 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
82.3% of GDP (2016 est.)
Real GDP (purchasing power parity)
$9.59 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$7.549 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$7.911 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$8.365 billion (2024 est.)
Real GDP growth rate
5.55%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
5.5% (2022 est.)
Real GDP growth rate 2023:
4.8% (2023 est.)
Real GDP growth rate 2024:
5.7% (2024 est.)
Real GDP per capita
$3,476
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$2,900 (2022 est.)
Real GDP per capita 2023:
$2,900 (2023 est.)
Real GDP per capita 2024:
$3,000 (2024 est.)
Remittances
$529.05 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
22.8% of GDP (2022 est.)
Remittances 2023:
21.5% of GDP (2023 est.)
Remittances 2024:
21.1% of GDP (2024 est.)
Reserves of foreign exchange and gold
$577.03 million
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$652.671 million (2021 est.)
Reserves of foreign exchange and gold 2022:
$568.244 million (2022 est.)
Reserves of foreign exchange and gold 2023:
$577.028 million (2023 est.)
Unemployment rate
6.52%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
6.1% (2022 est.)
Unemployment rate 2023:
6.5% (2023 est.)
Unemployment rate 2024:
6.5% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
10.9% (2024 est.)
Male:
10.9% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
10.9% (2024 est.)
World Bank Indicators
Currency
Central African CFA franc (XAF) Fr (2025)
Gini Index
38.00 (2017)
Languages
French (2025)
Economic Rankings
Inflation Rate
#36
GDP Growth Rate
#67
Unemployment Rate
#74
Gini Index
#74
External Debt
#105
Reserves
#152
GDP (PPP)
#163
GDP per Capita
#169
Imports
#169
GDP (Nominal)
#171
Exports
#174
Quick Facts
Industries
peanuts, fish, hides, tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
Agricultural products
rice, groundnuts, milk, millet, oil palm fruit, maize, vegetables, cassava, fruits, sorghum (2023)
Labor force
783,100 (2024 est.)
Exports - partners
Kazakhstan 92%, Guinea-Bissau 2%, China 1%, India 1%, Greece 1% (2023)
Imports - partners
Kazakhstan 26%, China 18%, Senegal 8%, India 7%, Brazil 4% (2023)
Exchange rates
dalasis (GMD) per US dollar -
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