Gambia, The
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| Introduction - Gambia, The: | | Location - Gambia, The: | | People - Gambia, The: | | Government - Gambia, The: | | Economy - Gambia, The: | 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 Gambias natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. The governments 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 | $3.284 billion (2006 est.) | | Gdp official exchange rate | $462.5 million (2006 est.) | | Gdp real growth rate | 5.3% (2006 est.) | | Gdp per capita ppp | $2,000 (2006 est.) | | Gdp composition by sector | agriculture: 30.5%
industry: 13.9%
services: 55.6% (2006 est.) | | Labor force | 400,000 (1996) | | Labor force by occupation | agriculture: 75%
industry: 19%
services: 6% | | Unemployment rate | NA% | | Population below poverty line | NA% | | Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% | | Inflation rate consumer prices | 14% (2006 est.) | | Investment gross fixed | 20.3% of GDP (2006 est.) | | Budget | revenues: $112.7 million
expenditures: $155.1 million; including capital expenditures of $4.1 million (2006 est.) | | Agriculture products | rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats | | Industries | processing peanuts, fish, and hides; tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing | | Industrial production growth rate | NA% | | Electricity production | 145 million kWh (2004) | | Electricity consumption | 134.9 million kWh (2004) | | Electricity exports | 0 kWh (2004) | | Electricity imports | 0 kWh (2004) | | Oil production | 0 bbl/day (2004 est.) | | Oil consumption | 2,000 bbl/day (2004 est.) | | Oil exports | NA bbl/day | | Oil imports | NA bbl/day | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 0 cu m (2004 est.) | | Current account balance | -$54.61 million (2006 est.) | | Exports | $130.5 million f.o.b. (2006 est.) | | Exports commodities | peanut products, fish, cotton lint, palm kernels, re-exports | | Exports partners | India 36.8%, UK 15.1%, Indonesia 7.5%, France 6.8%, Italy 4.3%, Senegal 4.2% (2006) | | Imports | $212.2 million f.o.b. (2006 est.) | | Imports commodities | foodstuffs, manufactures, fuel, machinery and transport equipment | | Imports partners | China 25%, Senegal 12.6%, Cote dIvoire 8%, Brazil 6.2%, Netherlands 4.4% (2006) | | Reserves of foreign exchange and gold | $88.11 million (2006 est.) | | Debt external | $628.8 million (2003 est.) | | Economic aid recipient | $59.8 million (2003) | | Currency code | dalasi (GMD) | | Exchange rates | dalasi per US dollar - 28.3 (2006), 30.38 (2005), 30.03 (2004), 27.306 (2004), 19.918 (2003), 15.687 (2002), 15.687 (2001) | |
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This page was last updated on 16 September, 2007
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