Banjul : : AM / /
Beijing : : AM / /


The Gambia has a small economy that relies primarily on agriculture, tourism, and remittances for support. Gradual reforms in fiscal policies have helped to improve stability and growth in the economyHowever, despite the global economic challenges, The Gambia Government remains cautiously optimistic that growth will be maintained and the current macroeconomic stability will be sustained in the medium to long term.

Growth was robust at 6% in 2019, supported by improving confidence and record tourist arrivals, with sound macroeconomic management helping to reduce the fiscal deficit, exit from debt distress, and increase international reserves closer to prudential levels.

The COVID-19 crisis has, however, resulted in a sharp economic downturn in 2020, with a reduction in tourists and trade disruptions leading to a 0% growth and a contraction in real GDP per capita by 2.9%, partially reversing gains in poverty reduction. However, continued sound macroeconomic management and donor grant inflows have helped further reduce the fiscal deficit and public debt, and record high official remittances bolstered international reserves.

COVID-19 Response

The government has taken steps to protect lives and livelihoods during the relief period with support from development partners. The World Bank is providing support through its $10 million COVID-19 Emergency Response Project and 3.46 million Global Partnership for Education funded Emergency Education COVID-19 Response Project, while $10 million out of the $30-million Social Safety Net Project was repurposed.  The IMF has provided support through its $21.2 million Rapid Credit Facility and$28.6 million Augmentation of Access under the Extended Credit Facility arrangement. Moreover, the IMF has approved the Catastrophe Containment and Relief Trust debt relief till April 2021 ($5.9 million). The European Union and African Development Bank have disbursed an additional $19.4 million and $7 million respectively as budget support grants in 2020.   

The Gambia is also participating in the G20 Debt Service Suspension Initiative (DSSI) and has received debt service deferral confirmation from most of the creditors endorsing the initiative. The fiscal space created by the DSSI is about $4.15 million in 2020 (0.22%of GDP) and $3 million in 2021 (0.15% of GDP).

CurrencyDalasi (GMD, D)

Fiscal year

1 July – 30 June

Trade organisations


Country group



·      Increase2,320,032   (2020)[3]


·         Increase   $1.773   billion (nominal, 2019 est.)[4]

·           Increase $6.448   billion (PPP, 2019 est.)[4]

GDP rank

·           167th (nominal, 2019)

·           160th (PPP,   2019)

GDP   growth

·           4.8% (2017)   6.6% (2018)

·           6.0% (2019e)   6.3% (2020f)[5]

GDP per   capita

·           Increase $755   (nominal, 2019 est.)[4]

·           Increase $2,745   (PPP, 2019 est.)[4]

GDP per   capita rank

·           171st (nominal, 2019)

·           157th   (PPP, 2018)

GDP by   sector

·           agriculture: 33%

·           industry: 8.7%

·           services: 58.3%

           (2008 est.)

Inflation (CPI)

 ·         6.5%   (2020 est.)[4]

Population   below poverty line

·           48.6% (2015)[6]

             9.7% on less than $1.90/day   (2020)[7]

Gini coefficient

    ·      35.9 medium (2015)[8]

Human Development Index

·           Increase 0.466 low (2018)[9] (174th)

             0.293 IHDI (2018)[10]

Labour   force

·           Increase 781,558   (2019)[11]

             53.4% employment rate (2012)[12]

Labour   force by occupation

·           agriculture 75%

·           industry, commerce, and   services 19%

·           government 6%



Average   gross salary

$0.65   per man-hour (2015)[citation   needed]

Main   industries

processing peanuts, fish, and   hides; tourism; beverages; agricultural machinery assembly, woodworking,   metalworking; clothing

Ease-of-doing-business rank

Decrease 155th   (below average, 2020)[13]



$182   million (f.o.b., 2010)

Export   goods

peanuts   and peanut products, fish, cotton lint, palm kernels

Main   export partners

·            China 57%

·            India 23.2%

·            United Kingdom 8%

·           (2013 est.)[14]


$251   million (f.o.b., 2010)

Import   goods

foodstuffs,   manufactures, fuel, machinery and transport equipment

Main   import partners

·            China 30.8%

·            Senegal 10.6%

·            Brazil 9.3%

·            India 5.5%

·            Russia 4.5%

·           (2013 est.)[15]

FDI stock

N/A   (2011)

Gross external debt

Industries: processing peanuts, fish, and hides; tourism; beverages; agricultural machinery assembly, woodworking, metalworking; clothing


  • production: 75 GWh, entirely from fossil fuels (1998)

  • consumption: 70 GWh (1998)

  • Electricity is not imported or exported from the Gambia.

Agriculture - products: peanutspearl milletsorghumricemaizecassava (tapioca), palm kernelscattlesheepgoats; forest and fishery resources not fully exploited.

Exports: $132 million (f.o.b., 1998)

Imports: $201 million (f.o.b., 1998)

  • commodities: foodstuffs, manufactures, fuel, machinery and transport equipment.

  • partners: Hong Kong, United Kingdom, Netherlands, Ivory Coast, France, Senegal, Belgium (1997)

$1   Billion (2005 est.)

Public finances

Public debt

150% of GDP (2020)
RevenuesD4.5 billion (2015)
Expenses$D963.6 million (2015)
Economic aid$45.4 million (1995)

Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.