Economy - overview The Gambia has no important mineral or other natural resources and hasa limited agricultural base. About 75% of the population depends on cropsand livestock for its livelihood. Small-scale manufacturing activity featuresthe processing of peanuts, fish, and hides. Reexport trade normally constitutesa major segment of economic activity, but the 50% devaluation of the CFA francin January 1994 made Senegalese goods more competitive and hurt the reexporttrade. The Gambia has benefited from a rebound in tourism in 1996 after itsdecline in response to the military's takeover in July 1994. Short-run economicprogress remains highly dependent on sustained bilateral and multilateralaid and on government willingness to reduce intervention in market processes.

GDP purchasing power parity - $1.1 billion (1995 est.)

GDP - real growth rate 2% (1995 est.)

GDP - per capita purchasing power parity - $1,100 (1995 est.)

GDP - composition by sector
agriculture: 27%
industry: 15%
services: 58% (1993 est.)

Inflation rate - consumer price index 7% (1995 est.)

Labor force
total: 400,000 (1986 est.)
by occupation: agriculture 75.0%, industry, commerce, and services 18.9%, government6.1%

Unemployment rate NA%

Budget
revenues: $88.6 million
expenditures: $98.2 million, including capital expenditures of $NA (FY96/97 est.)

Industries processing peanuts, fish, and hides; tourism; beverages; agriculturalmachinery assembly, woodworking, metalworking; clothing

Industrial production growth rate NA%

Electricity - capacity 30,000 kW (1995)

Electricity - production 65 million kWh (1991)

Electricity - consumption per capita 74 kWh (1991 est.)

Agriculture - products peanuts, millet, sorghum, rice, corn, cassava (tapioca), palm kernels;cattle, sheep, goats; forest and fishing resources not fully exploited

Exports
total value : $127 million (f.o.b., 1995 est.)
commodities: peanuts and peanut products 70%, fish, cotton lint, palm kernels
partners: Japan, Senegal, Hong Kong, France, Switzerland, UK, Indonesia

Imports
total value: $201 million (c.i.f., 1995 est.)
commodities: foodstuffs, manufactures, raw materials, fuel, machinery and transportequipment
partners: China, Cote d'Ivoire, France, UK, Germany

Debt - external $419 million (1994 est.)

Economic aid
recipient: bilateral $36.1 million; multilateral $34.7 million (1994)

Currency 1 dalasi (D) = 100 butut

Exchange rates dalasi (D) per US$1 - 9.875 (November 1996), 9.546 (1995), 9.576 (1994),9.129 (1993), 8.888 (1992)

Fiscal year 1 July - 30 June

NOTE: The information regarding The Gambia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of The Gambia Economy 1997 information contained here. All suggestions for corrections of any errors about The Gambia Economy 1997 should be addressed to the CIA.