The Gambia

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

The Gambia - In Short.

Overview of The Gambia

In the 10th century, Muslim merchants established some of The Gambia’s earliest large settlements as trans-Saharan trade hubs. These settlements eventually grew into major export centers sending slaves, gold, and ivory across the Sahara. Between the 16th and 17th centuries, European colonial powers began establishing trade with The Gambia. In 1664, the United Kingdom established a colony in The Gambia focused on exporting enslaved people across the Atlantic. During the roughly 300 years of the trans-Atlantic slave trade, the UK and other European powers may have exported as many as 3 million people from The Gambia. In 1965, The Gambia gained its independence from the UK. Geographically surrounded by Senegal, it formed the short-lived confederation of Senegambia between 1982 and 1989. In 1994, Yahya JAMMEH led a military coup overthrowing the president and banning political activity. JAMMEH won every presidential election until 2016. In December 2016, after 22 years of authoritarian rule, President JAMMEH lost to Adama BARROW during free and fair elections. Due to The Gambia’s poor human rights record under JAMMEH, international development partners had substantially reduced aid to the country. These channels have now reopened under the administration of President BARROW. Since the 2016 election, The Gambia and the US have enjoyed improved relations. US assistance to the country has supported military education and training programs, capacity building, and democracy-strengthening activities.    
Value
Country Full Name
The Gambia
Country Code
GMB
Region
Sub-Saharan Africa
Income Group
Low income
Currency Unit
GDP
1868086275
Population
2416664
Land Area
10120
Net National Income Per Capita
596.5364418
GDP per Capita (PPP)
2275.05625

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

The Gambia - Economic

Economy of The Gambia

The government has invested in the agriculture sector because three-quarters of the population depends on the sector for its livelihood and agriculture provides for about one-third of GDP, making The Gambia largely reliant on sufficient rainfall. The agricultural sector has untapped potential – less than half of arable land is cultivated and agricultural productivity is low. Small-scale manufacturing activity features the processing of cashews, groundnuts, fish, and hides. The Gambia’s reexport trade accounts for almost 80% of goods exports and China has been its largest trade partner for both exports and imports for several years.The Gambia has sparse natural resource deposits. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about one-fifth of the country’s GDP. The Gambia’s location on the ocean and proximity to Europe has made it one of the most frequented tourist destinations in West Africa, boosted by private sector investments in eco-tourism and facilities. Tourism normally brings in about 20% of GDP, but it suffered in 2014 from tourists’ fears of Ebola virus in neighboring West African countries. Unemployment and underemployment 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. International donors and lenders were concerned about the quality of fiscal management under the administration of former President Yahya JAMMEH, who reportedly stole hundreds of millions of dollars of the country’s funds during his 22 years in power, but anticipate significant improvements under the new administration of President Adama BARROW, who assumed power in early 2017. As of April 2017, the IMF, the World Bank, the European Union, and the African Development Bank were all negotiating with the new government of The Gambia to provide financial support in the coming months to ease the country’s financial crisis.The country faces a limited availability of foreign exchange, weak agricultural output, a border closure with Senegal, a slowdown in tourism, high inflation, a large fiscal deficit, and a high domestic debt burden that has crowded out private sector investment and driven interest rates to new highs. The government has committed to taking steps to reduce the deficit, including through expenditure caps, debt consolidation, and reform of state-owned enterprises.

Unemployment Rate

Inflation Rate

The Gambia - GDP Composition

GDP Composiiton & Value Added of The Gambia

Last Updated: Jan, 2021, Updated For 2020.

The Gambia - GDP, Value Added

Demographics of The Gambia

settlements are found scattered along the Gambia River; the largest communities, including the capital of Banjul, and the country’s largest city, Serekunda, are found at the mouth of the Gambia River along the Atlantic coast as shown in this population distribution map
Geographic Location

Western Africa, bordering the North Atlantic Ocean and Senegal

Races

Mandinka/Jahanka 33.3%, Fulani/Tukulur/Lorobo 18.2%, Wolof 12.9%, Jola/Karoninka 11%, Serahuleh 7.2%, Serer 3.5%, other 4%, non-Gambian 9.9% (2019-20 est.)

Languages

English (official), Mandinka, Wolof, Fula, other indigenous vernaculars

Religion

Muslim 96.4%, Christian 3.5%, other or none 0.1% (2019-20 est.)

Dependency & Expectancy of The Gambia

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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The Gambia - Social Media Briefing

The Gambia - Social Media & Social Commerce

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Politics & Policies of The Gambia

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, ECOWAS, FAO, G-77, IBRD, ICAO, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, NAM, OIC, OPCW, UN, UNAMID, UNCTAD, UNESCO, UNIDO, UNMIL, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of The Gambia

Export of The Gambia

Import Destination

Export Destination