Gambian Economy, Gambia Economy
Advertisement
Economy - overview: The Gambia has no significant 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 government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts; the following two marketing seasons saw substantially lower prices and sales. 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: 0.3% (2004)
GDP - real growth rate: 6% (2004 est.)
GDP - per capita: Purchasing power parity - $1,800 (2004 est.)
GDP - composition by sector: Agriculture: 26.8% industry: 14.5% services: 58.7% (2004 est.)
Population below poverty line: NA
Household income or consumption by percentage share: Lowest 10%: NA highest 10%: NA
Distribution of family income - Gini index:
Inflation rate (consumer prices):
Labor force: 400,000 (1996)
Labor force - by occupation: Agriculture 75%, industry, commerce, and services 19%, government 6%
Unemployment rate: NA (2002 est.)
Budget: Revenues: $44.85 million expenditures: $59.94 million, including capital expenditures of $4.1 million (2004 est.)
Industries: Processing peanuts, fish, and hides; tourism; beverages; agricultural machinery assembly, woodworking, metalworking; clothing
Industrial production growth rate: NA
Electricity - production: 90.31 million kWh (2002)
Electricity - production by source:
Electricity - consumption: 83.99 million kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 1,900 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Oil - proved reserves:
Natural gas - production:
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Natural gas - proved reserves:
Agriculture - products: Rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats
Exports: $114.4 million f.o.b. (2004 est.)
Exports - commodities: Peanut products, fish, cotton lint, palm kernels, re-exports
Exports - partners: India 21.4%, Thailand 15.1%, UK 13.7%, France 12.9%, Germany 8.7%, Italy 7.5% (2004)
Imports: $180.9 million f.o.b. (2004 est.)
Imports - commodities: Foodstuffs, manufactures, fuel, machinery and transport equipment
Imports - partners: China 23.7%, Senegal 11.6%, Brazil 5.9%, UK 5.5%, Netherlands 4.5%, US 4.4% (2004)
Debt - external: $476 million (2001 est.)
Economic aid - recipient: $45.4 million (1995)
Currency:
Currency code:
Exchange rates: Dalasi per US dollar - 27.306 (2003), 27.306 (2003), 19.918 (2002), 15.687 (2001), 12.788 (2000)
Fiscal year: Calendar year
Advertisement
The information here has been derived from Public Domain Sources such as the CIA World Factbook. No liability can be taken for any inaccuracies.
Tot: 0.035s; Tpl: 0.007s; cc: 3; qc: 8; dbt: 0.0102s; 1; m:domysql w:travelblog (10.17.0.13); sld: 1;
; mem: 1.1mb