Economy overview: There are no mineral deposits or any other natural resources in The Gambia; the country also has a very limited agricultural base. About 75% of the population lives off agriculture and livestock. The small manufacturing sector mainly consists of peanut, fish and leather processing enterprises. Re-export trade used to be at the forefront of the economy, but the government’s introduction of pre-screenings in 1999, the instability of the local currency, and the stable political situation in Senegal led to some diversion of re-export trade flows away from Banjul. The 1998 government seizure of a private peanut processor wiped out the largest buyer of peanuts; the two subsequent trading seasons were marked by significantly lower prices and sales. The decline in the tourism industry in 1999-2000 also hindered economic growth. Unemployment and part-time employment are extremely high. The continuation of short-lived economic progress will depend heavily on foreign assistance, responsible government management of the economy, in which the IMF helps the government with its advice and technical support, and expected growth in the construction sector. See cheeroutdoor.com to know more about Gambia Business.
GDP: at purchasing power parity – $1.5 billion (2000 est.).
Real GDP growth rate: 4.9% (2000 est.).
GDP per capita: at purchasing power parity – $1,100 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 21%; industry: 12%; services: 67% (1998 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 3.4% (2000 est.).
Labor force: 400,000 people
Employment structure: agriculture 75%, industry, trade and sphere 19%, authorities 6%.
Unemployment rate: no data.
Budget: revenues: $90.5 million; expenses: $80.9 million, including capital expenditures of $4.1 million (2000 est.).
Economic sectors: peanut processing, fishing and leather dressing; tourism; beverage production; assembly of agricultural machinery, woodworking industry, metalworking industry; manufacture of wearing apparel.
Growth in industrial production: no data available.
Electricity generation: 75 million kWh (1999).
Sources of electricity generation: fossil fuels: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 69.8 million kWh (1999).
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: peanuts, millet, sorghum, rice, corn, cassava (tapioca), palm heart; livestock, sheep, goats; note – forest and fish resources are not fully utilized.
Export: $125.8 million (free on board, 1999)
Exports: peanuts and products derived from peanuts, fish, cotton lint, palm kernels.
Export partners: Benelux 59%, Japan 20%, UK 7%, Spain 2% (1999).
Imports: $202.5 million (free on board, 1999)
Import articles: foodstuffs, manufactured goods, fuels, machinery and vehicles.
Import partners: China (including Hong Kong) 49%, UK 15%, Netherlands 11.6%, Brazil 10%, Senegal 10% (1997).
External debt: $440 million (2000 est.) Economic aid recipient: $45.4 million (1995)
Economic aid donor:
Currency code: GMD.
Exchange rate: GMD/USD – 15.000 (January 2001), 12.729 (third quarter 1999), 11.395 (1999), 10.643 (1998), 10.200 (1997), 9.789 (1996), 9.546 (1995).
Fiscal year: calendar year.
Telecommunications Telephone lines: 31 900 (2000).
Mobile cellular telephones: 5,624 (2000).
Telephone system: satisfactory; it is possible to use a packet data network; domestic: satisfactory system of microwave radio relay and terrestrial lines; international: microwave radio relay to Senegal and Guinea-Bissau; satellite earth stations – 1 intepsat (Atlantic Ocean).
Broadcast stations: AM – 3, FM – 2, shortwave – 0 (2000).
Radio receivers: 196,000 (1997).
Television broadcast stations: 1 (state) (1997).
Televisions: 5,000 (2000).
Internet Country Code: gm
Internet Service Providers: 2 (2001).
Number of users: 5,000 (2001).
Transport Railways: 0 km.
Roads: total length: 2,700 km; coated: 956 km; unpaved: 1,744 km (1996 est.).
Waterways: 400 km.
Ports and harbors: Banjul.
Merchant fleet: none (2000 est.).
Airports: 1 (2000 est.).
Airports with paved runways: total: 1; over 3,047 m: 1 (2000 est.).
Branches of the armed forces: army (includes maritime formation), national police, presidential guard.
Total military manpower: male 15 to 49: 316,873 (2001 est.).
Eligible for military service: males 15 to 49 pets: 159,764 (2001 est.).
Number of persons reaching military age each year:
Military spending in dollar terms: $2.6 million (2001 est.).
Military spending as part of GDP: 2% (FY96-97)