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Economical facts about the Gambia

This article contains facts about the economy of the Gambia.

Numbers and Facts

In Gambia the used currency is Dalasi. Some basic facts about the GDP in the Gambia and labour in the Gambia:

GDP $1.040 billion (2010 est.)
GDP growth
5.5% (2008 est.)
GDP per capita
$605 (2010 est.)
GDP by sector
agriculture: 33%, industry: 8.7%, services: 58.3% (2008 est.)
Inflation - Annual 5.6 percent - 12-month moving average (31 December 2014)
Population below poverty line
61.3 (2003 est.)
Labour force
400,000
Labour force by occupation
agriculture 75%, industry, commerce, and services 19%, government 6%
Average gross salary
$0.57 per man-hour (2009)
Budget
revenues: $181.1 million
expenditures: $163.4 million (2007 est.)
Current Account Balance
-$70 million (2007 est.)
Export Commodities
Groundnut products, fish, raw cotton, palm kernels, hides & entrepot trade
Export Partners (Principle)
India 37.7%, China 17.5%, UK 8.7%, France 5.1%, Belgium 4.2% (2007)
Exports
$111 million f.o.b. (2008 est.)
Import commodities
foodstuffs incl. rice, flour, sugar, manufactured goods, petroleum, heavy fuel oil, cement bulk & bags, auto vehicles, machinery equipment
Import Partners
China 23.7%, Senegal 11.5%, Cote d'Ivoire 8.3%, Brazil 8%, Netherlands 5.2% (2007)
Imports
$301 million f.o.b. (2008 est.)

(sources: en.wikipedia.org/wiki/Economy_of_the_Gambia, www.accessgambia.com/information/economic-profile.html, visited on 20/10/2016)

Export of the Gambia in a figure:

More interesting numbers and graphics can be found on data.worldbank.org/country/gambia

Industries in the Gambia

The Gambia is among the poorest countries of the world, ranking 155th out of 177 countries in the 2007/2008 UNDP Human Development Index (HDI) rankings. Services account for over 50 percent of GDP, reflecting the importance of re-export trade and tourism. Agriculture accounts for about a third of GDP but more than 70 percent of employment. The manufacturing sector is undeveloped even by West African standards, providing only 5 percent of GDP and displaying little dynamism.

The Gambia's most produced agriculture products: groundnuts (140,000 tonnes - 2005), rice, millet, sorghum, corn, sesame, cassava, palm kernels; livestock: cattle, sheep, goats
 
The Gambia's biggest industries: Processing peanuts, fish, and hides; tourism; beverages; agricultural machinery assembly, woodworking, metalworking & clothing

Gambia’s longer term policy objectives are sketched in the ambitious Vision 2020 document which aims to turn Gambia into a diversified middle income economy with the private sector as "a serious partner in national development and the very engine of growth."

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