- Economy Overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. It is one of the world's poorest countries with a per capita income of about $250. About 75% of the population is engaged in crop production and livestock raising, which contributes about 30% to GDP. Small-scale manufacturing activity—processing peanuts, fish, and hides—accounts for less than 10% of GDP. Tourism is a growing industry. The Gambia imports about 33% of its food, all fuel, and most manufactured goods. Exports are concentrated on peanut products (over 75% of total value).
GDP: $195 million, per capita $250; real growth rate 4.6% (FY89 est.)
Inflation rate (consumer prices): 8.0% (FY89 est.)
Unemployment rate: NA%
Budget: revenues $75 million; expenditures $67 million, including capital expenditures of $21 million (FY89)
Exports: $133 million (f.o.b., FY89); commodities—peanuts and peanut products, fish, cotton lint, palm kernels; partners—Ghana 49%, Europe 27%, Japan 12%, US 1% (1986)
Imports: $105 million (c.i.f., FY89); commodities—foodstuffs, manufactures, raw materials, fuel, machinery and transport equipment; partners—Europe 55% (EC 39%, other 16%), Asia 20%, US 11%, Senegal 4% (1986)
External debt: $330 million (December 1989 est.)
Industrial production: growth rate 7.3% (FY88)
Electricity: 29,000 kW capacity; 64 million kWh produced, 80 kWh per capita (1989)