| People | The Gambia |
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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):
|
$1.338 billion (2007 est.) |
GDP (official exchange rate):
|
$379 million (2007 est.) |
GDP - real growth rate:
|
7% (2007 est.) |
GDP - per capita (PPP):
|
$800 (2007 est.) |
GDP - composition by sector:
|
agriculture: 32.8%
industry: 8.7%
services: 58.5% (2007 est.) |
Investment (gross fixed):
|
27.7% of GDP (2007 est.) |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: 1.8%
highest 10%: 37% (1998) |
Distribution of family income - Gini index:
|
50.2 (1998) |
Inflation rate (consumer prices):
|
3.5% (2007 est.) |
Labor force:
|
400,000 (1996) |
Labor force participation rate:
|
23.05 % of population |
Labor force - by occupation:
|
agriculture: 75%
industry: 19%
services: 6% (1996) |
Unemployment rate:
|
NA% |
Budget:
|
revenues: $160.4 million
expenditures: $165.7 million (2007 est.) |
Budget revenues per capita:
|
93 USD per capita |
Public debt:
|
void |
Industries:
|
processing peanuts, fish, and hides; tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing |
Industrial production growth rate:
|
-2.3% (2007 est.) |
Electricity - production:
|
145 million kWh (2005) |
Electricity - production per capita:
|
84 kWh per capita |
Electricity - consumption:
|
134.9 million kWh (2005) |
Electricity - consumption - per capita:
|
78 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,030 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
0.43 bbl/year per capita |
Oil - exports:
|
41.5 bbl/day (2004) |
Oil - imports:
|
2,050 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats |
Current account balance:
|
-$31.69 million (2007 est.) |
Current account balance - per capita:
|
-18 USD per capita |
Exports:
|
$147.7 million f.o.b. (2007 est.) |
Exports per capita:
|
86 USD per capita |
Exports - commodities:
|
peanut products, fish, cotton lint, palm kernels, re-exports |
Exports - partners:
|
India 38.6%, UK 15.9%, Indonesia 7.9%, France 7%, Italy 4.6% (2006) |
Imports:
|
$276 million f.o.b. (2007 est.) |
Imports per capita:
|
160 USD per capita |
Imports - commodities:
|
foodstuffs, manufactures, fuel, machinery and transport equipment |
Imports - partners:
|
China 25.2%, Senegal 11.3%, Cote d'Ivoire 8.1%, Brazil 6.6%, Netherlands 4.5%, UK 4% (2006) |
Reserves of foreign exchange and gold:
|
$119.9 million (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
70 USD per capita |
Debt - external:
|
$628.8 million (2003 est.) |
Debt - external - per capita:
|
363 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$58.15 million (2005) |
Economic aid - recipient per capita:
|
34 USD per capita |
Currency (code):
|
dalasi (GMD) |
Exchange rates:
|
dalasi per US dollar - 27.79 (2007), 28.066 (2006), 28.575 (2005), 30.03 (2004), 27.306 (2003) |
Fiscal year:
|
calendar year |
|
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