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Gambia, The Economy 2010
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SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Gambia, The Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 15, 2010

Economy - overview:
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):
$2.385 billion (2009 est.)

$2.304 billion (2008 est.)
$2.176 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$726 million (2009 est.)

GDP - real growth rate:
3.5% (2009 est.)

5.9% (2008 est.)
6.3% (2007 est.)

GDP - per capita (PPP):
$1,300 (2009 est.)

$1,300 (2008 est.)
$1,300 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 33.5%
industry: 8.5%
services: 58% (2009 est.)

Labor force:
777,100 (2007)

Labor force - by occupation:
agriculture: 75%
industry: 19%
services: 6% (1996)

Unemployment rate:
NA% est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 36.9% (2003)

Distribution of family income - Gini index:
50.2 (1998)

Investment (gross fixed):
27.2% of GDP (2009 est.)

Budget:
revenues: $129.1 million
expenditures: $153.6 million (2009 est.)

Inflation rate (consumer prices):
6% (2009 est.)

4.5% (2008 est.)

Central bank discount rate:
NA% (31 December 2008)

10% (31 December 2007)

Commercial bank prime lending rate:
NA% (31 December 2008)

27.92% (31 December 2007)

Stock of money:
$NA (31 December 2008)

$186.7 million (31 December 2007)

Stock of quasi money:
$NA (31 December 2008)

$180.4 million (31 December 2007)

Stock of domestic credit:
$NA (31 December 2008)

$169.9 million (31 December 2007)

Market value of publicly traded shares:
$NA

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:
14.9% (2009 est.)

Electricity - production:
160 million kWh (2007 est.)

Electricity - consumption:
148.8 million kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
2,000 bbl/day (2008 est.)

Oil - exports:
42 bbl/day (2007 est.)

Oil - imports:
2,266 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Current account balance:
$-88 million (2009 est.)

$-127 million (2008 est.)

Exports:
$77 million (2009 est.)

$85 million (2008 est.)

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

Exports - partners:
India 30.5%, Japan 25.6%, Belgium 6.3%, China 5.5%, UK 5.3%, Spain 4.1% (2008)

Imports:
$239 million (2009 est.)

$299 million (2008 est.)

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

Imports - partners:
China 20.6%, Senegal 12.1%, Cote d'Ivoire 8.7%, Brazil 7.7%, Netherlands 5% (2008)

Reserves of foreign exchange and gold:
$123 million (31 December 2009 est.)

$140 million (31 December 2008 est.)

Debt - external:
$628.8 million (2003 est.)

Exchange rates:
dalasis (GMD) per US dollar - 27 (2009), 22.75 (2008), 27.79 (2007), 28.066 (2006), 28.575 (2005)


NOTE: The information regarding Gambia, The on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gambia, The Economy 2010 information contained here. All suggestions for corrections of any errors about Gambia, The Economy 2010 should be addressed to the CIA.






This page was last modified 09-Feb-10
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