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Gambia, The Economy 2011
http://www.theodora.com/wfb2011/gambia_the/gambia_the_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

Economy - overview:
The Gambia has sparse natural resource deposits and a limited agricultural base, and relies in part on remittances from workers overseas and tourist receipts. About three-quarters of the population depends on the agricultural sector for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In the past few years, The Gambia's re-export trade - traditionally a major segment of economic activity - has declined, but its banking sector has grown rapidly. Unemployment and underemployment rates remain high; economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. The quality of fiscal management, however, is weak. The government has promised to raise civil service wages over the next two years and the deficit is projected to worsen.

GDP (purchasing power parity):
$3.406 billion (2010 est.)
country comparison to the world: 173

$3.244 billion (2009 est.)
$3.073 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1.04 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5% (2010 est.)
country comparison to the world: 56

5.6% (2009 est.)
6.3% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,900 (2010 est.)
country comparison to the world: 191

$1,800 (2009 est.)
$1,800 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 30.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 16.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 53.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
777,100 (2007)
country comparison to the world: 146
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 75%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19%
[see also: Labor force - by occupation - industry country ranks ]
services: 6% (1996)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 36.9% (2003)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
50.2 (1998)
country comparison to the world: 23


[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
28% of GDP (2009 est.)
country comparison to the world: 25
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $183.9 million
[see also: Budget - revenues country ranks ]
expenditures: $202.5 million (2009 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
5.5% (2010 est.)
country comparison to the world: 152

4.6% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
9% (31 December 2009)
country comparison to the world: 38

11% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
27% (31 December 2009 est.)
country comparison to the world: 6

27.92% (31 December 2007)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$222.9 million (31 December 2010 est)

$210.2 million (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$453.9 million (31 December 2010 est.)

$438.9 million (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$293.5 million (31 December 2010 est.)
country comparison to the world: 170

$283.7 million (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats

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

Industrial production growth rate:
8.9%
country comparison to the world: 21
note: although The Gambia had the highest industrial growth rate in the world in 2009, this growth is from a tiny industrial base (2009 est.)
[see also: Industrial production growth rate country ranks ]

Electricity - production:
160 million kWh (2007 est.)
country comparison to the world: 181
[see also: Electricity - production country ranks ]

Electricity - consumption:
148.8 million kWh (2007 est.)
country comparison to the world: 183
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 194
[see also: Oil - production country ranks ]

Oil - consumption:
2,000 bbl/day (2009 est.)
country comparison to the world: 190
[see also: Oil - consumption country ranks ]

Oil - exports:
42 bbl/day (2007 est.)
country comparison to the world: 135
[see also: Oil - exports country ranks ]

Oil - imports:
2,266 bbl/day (2007 est.)
country comparison to the world: 174
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 178
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 194
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 183
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 176
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 177
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 177
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$90 million (2010 est.)
country comparison to the world: 76

-$81 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$107 million (2010 est.)
country comparison to the world: 192

$95 million (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
peanut products, fish, cotton lint, palm kernels, re-exports

Exports - partners:
India 42.06%, France 15.34%, UK 9.03%, China 7.38%, Hong Kong 4.55%, Belgium 3.97% (2009)

Imports:
$306 million (2010 est.)
country comparison to the world: 196

$280 million (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, manufactures, fuel, machinery and transport equipment

Imports - partners:
China 20.45%, Senegal 11.97%, Brazil 8.48%, Cote d'Ivoire 4.71%, Netherlands 4.68%, US 4.49% (2009)

Reserves of foreign exchange and gold:
$203 million (31 December 2010 est.)
country comparison to the world: 127

$224 million (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$530 million (31 December 2010 est.)
country comparison to the world: 160

$489 million (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
dalasis (GMD) per US dollar - 28.5193 (2010), 26.67 (2009), 22.75 (2008), 27.79 (2007), 28.066 (2006)


NOTE: The information regarding Gambia, The on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gambia, The Economy 2011 information contained here. All suggestions for corrections of any errors about Gambia, The Economy 2011 should be addressed to the CIA.



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