Economy-overview: The Gambia has no important mineral or other natural resources 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 the 50% devaluation of the CFA franc in January 1994 made Senegalese goods more competitive and hurt the reexport trade. The Gambia has benefited from a rebound in tourism after its decline in response to the military's takeover in July 1994. Short-run economic progress remains highly dependent on sustained bilateral and multilateral aid and on responsible government economic management.
GDP: purchasing power parity-$1.23 billion (1997 est.)
GDP-real growth rate: 2.1% (1997 est.)
GDP-per capita: purchasing power parity-$1,000 (1997 est.)
GDP-composition by sector: agriculture: 27% industry: 15% services: 58% (1993 est.)
Inflation rate-consumer price index: 2.2% (1997)
Labor force: total: NA by occupation: agriculture 75.0%, industry, commerce, and services 18.9%, government 6.1%
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; agricultural machinery assembly, woodworking, metalworking; clothing