Gambia:
Economy

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Other pages in this profile of the Gambia:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition The Gambia has no confirmed mineral or natural resource deposits and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. Reexport trade normally constitutes a major segment of economic activity, but a 1999 government-imposed preshipment inspection plan, and instability of the Gambian dalasi (currency) have drawn some of the reexport trade away from The Gambia. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. The government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts. Despite an announced program to begin privatizing key parastatals, no plans have been made public that would indicate that the government intends to follow through on its promises. Unemployment and underemployment rates remain extremely high; short-run economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, on continued technical assistance from the IMF and bilateral donors, and on expected growth in the construction sector.
GDP (purchasing power parity)	Definition - World rank and map $2.106 billion (2007 est.)
GDP (official exchange rate)	Definition $653 million (2007 est.)
GDP - real growth rate	Definition - World rank and map 7% (2007 est.)
GDP - per capita	Definition - World rank and map $1,300 (2007 est.)
GDP - composition by sector	Definition agriculture: 32.8% industry: 8.7% services: 58.5% (2007 est.)
Labor force	Definition 400,000 (1996)
Labor force - by occupation	Definition agriculture: 75% industry: 19% services: 6% (1996)
Unemployment rate	Definition - World rank and map NA%
Population below poverty line	Definition NA%
Household income or consumption by percentage share	Definition lowest 10%: 1.8% highest 10%: 37% (1998)
Distribution of family income - Gini index	Definition - World rank and map 50.2 (1998)
Inflation rate (consumer prices)	Definition - World rank and map 5% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 25.4% of GDP (2007 est.)
Budget	Definition revenues: $181.1 million expenditures: $163.4 million (2007 est.)
Agriculture - products	Definition rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats
Industries	Definition processing peanuts, fish, and hides; tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing
Industrial production growth rate	Definition - World rank and map -2.3% (2007 est.)
Electricity - production	Definition - World rank and map 145 million kWh (2005)
Electricity - consumption	Definition - World rank and map 134.9 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 77.8 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 2,030 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 1.2 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 41.5 bbl/day (2004)
Oil - imports	Definition - World rank and map 2,050 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$70 million (2007 est.)
Exports	Definition - World rank and map $93 million f.o.b. (2007 est.)
Exports - commodities	Definition peanut products, fish, cotton lint, palm kernels, re-exports
Exports - partners	Definition India 36.5%, China 15%, UK 9%, Indonesia 7.8%, France 4.9%, Belgium 4% (2006)
Imports	Definition - World rank and map $271 million f.o.b. (2007 est.)
Imports - commodities	Definition foodstuffs, manufactures, fuel, machinery and transport equipment
Imports - partners	Definition China 24.3%, Senegal 11.5%, Cote d'Ivoire 8.3%, Brazil 6.7%, Netherlands 5.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $142.8 million (31 December 2007 est.)
Debt - external	Definition - World rank and map $628.8 million (2003 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $58.15 million (2005)
Currency (code)	Definition dalasi (GMD)
Exchange rates	Definition dalasi per US dollar - 27.79 (2007), 28.066 (2006), 28.575 (2005), 30.03 (2004), 27.306 (2003)
Fiscal year	Definition calendar year

Gambia: Economy

Gambia:
Economy