Economic overview The Gambia, in 36 editions.

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. $230. 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% one-third of its food, all fuel, and most manufactured goods. Exports are concentrated on peanut products (over (about 75% of total value).

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 $230. About 75% of the population is engaged in
crop production and livestock raising, which contributes contribute 30% to GDP.
Small-scale manufacturing activity--processing activity - processing peanuts, fish, and hides--accounts hides -
accounts for less than 10% of GDP. Tourism is a growing industry. The Gambia
imports one-third of its food, all fuel, and most manufactured goods.
Exports are concentrated on peanut products (about 75% of total value).

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 $230. $325. About 75% of the population is engaged in
crop production and livestock raising, which contribute 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 one-third of its food, all fuel, and most manufactured goods.
Exports are concentrated on peanut products (about 75% of total value).

The Gambia has no important mineral or other natural resources and has a
a limited agricultural base. It is one of the world's poorest
countries with a
per capita income of about $325. roughly $800. About 75% of the
population is engaged in
crop production and livestock raising, which
contribute 30% to GDP.
Small-scale manufacturing activity - processing
peanuts, fish, and hides -
accounts for less than 10% of GDP. Tourism is A
sustained structural adjustment program, including a growing industry. The Gambia liberalized trade
imports policy, has fostered a respectable 4% rate of growth in recent years.
Re-export trade constitutes one-third of its food, all fuel, economic activity; however,
border closures associated with Senegal's monetary crisis in late 1993
led to a 50% decline in re-export trade, reducing government revenues
in turn. Devaluation of the CFA franc in January 1994 has made
Senegalese goods more competitive, and most manufactured goods. is likely to prompt a
Exports are concentrated on peanut products (about 75% relaxation of total value). Senegalese controls, paving the way for a comeback in
re-exports.

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 roughly $800. About 75% of the
population is engaged in crop production and livestock raising, which
contribute 30% to GDP. Small-scale manufacturing activity - processing
peanuts, fish, and hides - accounts for less than 10% of GDP. A
sustained structural adjustment program, including a liberalized trade
policy, has had fostered a respectable 4% rate of growth in recent years.
Re-export Reexport trade constitutes one-third of economic activity; however,
border closures associated with Senegal's monetary crisis in late 1993
led to a 50% decline in re-export halving of reexport trade, reducing government revenues
in
turn. Devaluation The 50% devaluation of the CFA franc in January 1994 has made
Senegalese goods more competitive, competitive and is likely to prompt apparently prompted a
relaxation
of Senegalese controls, paving the way for a comeback in reexports.
re-exports. But overwhelming these developments were the devastating effects of
the military's takeover in July 1994. By October, traffic at the Port
of Banjul had fallen precipitously as importers nervously scaled back
their activities with the commencement of the anticorruption drive by
the new regime. Concerned with the growing potential for serious
unrest after a countercoup attempt was bloodily put down by the
regime, the United Kingdom and the EU in November issued a travelers
advisory for The Gambia, which brought a halt to tourism almost
immediately. The Gambia faces additional problems in 1995 if, as is
likely, economic sanctions by Western governments remain in effect in
response to indications that the military regime intends to stay in
power far longer than expected by the donors.

The Gambia has no important mineral or other natural
natural resources and has a limited agricultural base. About 75% of the
the population is engaged in crop production and livestock raising, which raising.
contribute 30% to GDP. Small-scale manufacturing activity - features the processing of
peanuts, fish, and hides - accounts for less than 10% of GDP. hides. A
sustained structural adjustment program,
including a liberalized trade
policy, had fostered a respectable 4%
annual rate of growth in recent years.
1990-93. Reexport trade normally
constitutes one-third of economic activity; however,
border closures
associated with Senegal's monetary crisis in late 1993
led to a
halving of reexport trade, reducing government revenues in
turn. The
50% devaluation of the CFA franc in January 1994 has made
Senegalese
goods more competitive and apparently prompted a relaxation
of
Senegalese controls, paving the way for a comeback in reexports.
But overwhelming these developments were the devastating effects of
But, in response to the military's takeover in July 1994. By October, traffic at the Port
of Banjul had fallen precipitously as importers nervously scaled back
their activities with the commencement of the anticorruption drive by
the new regime. Concerned with the growing potential for serious
unrest after a countercoup attempt was bloodily put down by the
regime, the United Kingdom and the EU 1994, cuts in November issued a travelers
advisory for The Gambia, which brought foreign trade and a halt to tourism almost
immediately. The Gambia faces additional problems decline in 1995 if, as is
likely, tourism have undermined economic sanctions by Western governments remain in effect in
response to indications that the military regime intends to stay in
power far longer than expected by the donors. growth.

The Gambia has no important mineral or other
natural resources and has a limited agricultural base. About 75% of
the population is engaged in crop production depends on crops and livestock raising. for its livelihood.
Small-scale manufacturing activity features the processing of
peanuts,
fish, and hides. A sustained structural adjustment program,
including a liberalized trade policy, had fostered a respectable 4%
annual rate of growth in 1990-93. Reexport trade normally
constitutes one-third of economic activity; however, border closures
associated with Senegal's monetary crisis in late 1993 led to a major segment
halving of reexport trade, reducing government revenues in turn. The
economic activity, but the 50% devaluation of the CFA franc in
January 1994 has made Senegalese
goods more competitive and apparently prompted a relaxation of
Senegalese controls, paving hurt the way for
reexport trade. The Gambia has benefited from a comeback rebound in reexports. tourism in
But, 1996 after its decline in response to the military's takeover in July 1994, cuts in
foreign trade and a decline in tourism have undermined 1994. Short-run economic progress remains highly dependent on
growth. sustained bilateral and multilateral aid and on government willingness
to reduce intervention in market processes.

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 in
1996 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 willingness economic
to reduce intervention in market processes. management.

The Gambia has no important mineral or other natural
natural resources and has a limited agricultural base. About 75% of the
the population depends on crops and livestock for its livelihood.
Small-scale manufacturing activity features the processing of peanuts,
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
tourism after its decline in response to the military's takeover in
July 1994.
Short-run economic progress remains highly dependent on sustained
sustained bilateral and multilateral aid and on responsible
government economic management as forwarded by IMF technical help
management. and advice.

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 as forwarded by IMF technical help
and advice. Annual GDP growth is expected to fall to less than 4% over 2000-01.

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 a 1999 government-imposed preshipment inspection plan, instability of the CFA franc in January 1994 made Senegalese goods more competitive Gambian dalasi, and hurt the stable political situation in Senegal have drawn some of the reexport trade. The Gambia has benefited trade away from a rebound in tourism after its Banjul. The government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts; the following two marketing seasons have seen significantly lower prices and sales. A decline in response tourism from 1999 to the military's takeover in July 1994. Short-run 2000 has also held back growth. Unemployment and underemployment rates are extremely high. Shortrun economic progress remains highly dependent on sustained bilateral and multilateral aid and aid, on responsible government economic management as forwarded by IMF technical help and advice. Annual GDP growth is advice, and on expected to fall to less than 4% over 2000-01. growth in the construction sector.

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 a 1999 government-imposed preshipment inspection plan, and instability of the Gambian dalasi, and the stable political situation in Senegal dalasi (currency) have drawn some of the reexport trade away from Banjul. The government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts; the following two marketing seasons have seen significantly substantially lower prices and sales. A decline in tourism from 1999 to in 2000 has also held back growth. Unemployment and underemployment rates are extremely high. Shortrun economic progress remains highly dependent on sustained bilateral and multilateral aid, on responsible government economic management as forwarded by IMF technical help and advice, and on expected growth in the construction sector. Record crops undergirded sturdy growth in 2001.

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 a 1999 government-imposed preshipment inspection plan, and instability of the Gambian dalasi (currency) have drawn some of the reexport trade away from Banjul. 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 have seen substantially lower prices and sales. A decline in tourism in 2000 has also held back growth. Unemployment and underemployment rates are extremely high. Shortrun economic progress remains highly dependent on sustained bilateral and multilateral aid, on responsible government economic management as forwarded by IMF technical help and advice, and on expected growth in the construction sector. Record crops undergirded sturdy growth in 2001.

The Gambia has no important significant mineral or other natural resources 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 have seen saw substantially lower prices and sales. A decline in tourism in 2000 has also held back growth. 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 are remain extremely high. Shortrun high; short-run economic progress remains highly dependent depends on sustained bilateral and multilateral aid, on responsible government economic management as forwarded by IMF management, on continued technical help assistance from the IMF and advice, bilateral donors, and on expected growth in the construction sector.

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. 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.

The Gambia has no significant 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 Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. The government's 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.

The Gambia has no confirmed mineral or sparse natural resource deposits and has a limited agricultural base. base, and relies in part on remittances from workers overseas and tourist receipts. About 75% three-quarters of the population depends on crops and livestock the agricultural sector 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 Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. The government's 1998 seizure of the Africa, boosted by government and private peanut firm Alimenta eliminated sector investments in eco-tourism and upscale facilities. In the largest purchaser past few years, The Gambia's re-export trade - traditionally a major segment 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 economic activity - has declined, but its promises. banking sector has grown rapidly. Unemployment and underemployment rates remain extremely high; short-run economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from the IMF multilateral and bilateral donors, donors. The quality of fiscal management, however, is weak. The government has promised to raise civil service wages over the next two years and on expected growth in the construction sector. deficit is projected to worsen.

The Gambia has sparse natural resource deposits and a limited agricultural base, and relies in part on remittances from workers overseas and tourist receipts. About three-quarters of the population depends on the agricultural sector for its livelihood. livelihood and the sector provides for about one-quarter of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In the past few years, 2012, however, sluggish tourism led to a decline in GDP. Tourism brings in about one-fifth of GDP. Agriculture also took a hit in 2012 due to unfavorable weather patterns. The Gambia's re-export trade - traditionally a major segment accounts for almost 80% of economic activity - has declined, but its banking sector has grown rapidly. goods exports. Unemployment and underemployment rates remain high; economic high. Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. The International donors and lenders continue to be concerned about the quality of fiscal management, however, is weak. The government has promised to raise civil service wages over the next two years management and the deficit is projected to worsen. The Gambia's debt burden.

The Gambia has sparse natural resource deposits and a limited agricultural base, and relies in part on remittances from workers overseas and tourist receipts. About three-quarters of the population depends on the agricultural sector for its livelihood and the sector provides for about one-quarter one-fifth of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In 2012, however, sluggish tourism led to a decline in GDP. Tourism brings in about one-fifth of GDP. Agriculture also took a hit in 2012 due to unfavorable weather patterns. The Gambia's re-export trade accounts for almost 80% of goods exports. Unemployment and underemployment rates remain high. Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be concerned about the quality of fiscal management and The Gambia's debt burden.

The Gambia has sparse natural resource deposits and a limited agricultural base, and base. It relies in part heavily on remittances from workers overseas and tourist receipts. About Remittance inflows to The Gambia amount to about 20% of the country’s GDP. The government has invested strongly in the agriculture sector because three-quarters of the population depends on the agricultural sector for its livelihood and the sector agriculture provides for about one-fifth of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism tourist destinations in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In 2012, however, sluggish tourism led to a decline in GDP. Tourism normally brings in about one-fifth of GDP. Agriculture also took a hit GDP, but suffered in 2012 due to unfavorable weather patterns. 2014 from tourists’ fears of Ebolavirus in neighboring West African countries. The Gambia's re-export trade accounts for almost 80% of goods exports. exports and China was its largest trade partner for both exports and imports in 2013. In 2012 the IMF renewed an extended credit facility of $28.3 million for three years. Unemployment and underemployment rates remain high. Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be concerned about the quality of fiscal management and management. The Gambia's debt burden. interest payments are projected to consume about 31% of government revenue in 2015. Relations with international donors have been tarnished by the country’s human rights record on homosexuality and human trafficking, perceptions of graft, and a declaration by the president in 2014 that the country would stop using English as the national language.

The Gambia has sparse natural resource deposits and a limited agricultural base. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about 20% of the country’s GDP. The government has invested strongly in the agriculture sector because three-quarters of the population depends on the sector for its livelihood and agriculture provides for about another one-fifth of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's re-export trade accounts for almost 80% of goods exports and China has been its largest trade partner for both exports and imports for several years.
The Gambia has sparse natural resource deposits and a limited agricultural base. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about one-fifth of the country’s GDP. The Gambia's natural beauty and proximity to Europe has made it one of the larger tourist destinations in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. Tourism normally brings in about one-fifth 20% of GDP, but suffered in 2014 from tourists’ fears of Ebolavirus Ebola virus in neighboring West African countries. The Gambia's re-export trade accounts for almost 80% of goods exports and China was its largest trade partner for both exports and imports in 2013. In 2012 the IMF renewed an extended credit facility of $28.3 million for three years. Unemployment and underemployment remain high.
Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be concerned about the quality of fiscal management. The Gambia's debt interest payments are projected IMF provided $10.8 million in emergency financial assistance to consume about 31% of government revenue The Gambia in 2015. April 2015 to shore up the country’s finances. Relations with international donors have been tarnished by the country’s human rights record on homosexuality and human trafficking, perceptions of graft, and a declaration by the president in 2014 that the country would stop using English as the national language. record.

The government has invested strongly in the agriculture sector because three-quarters of the population depends on the sector for its livelihood and agriculture provides for another one-fifth about one-third of GDP. GDP, making The Gambia largely reliant on sufficient rainfall. The agricultural sector has untapped potential - less than half of arable land is cultivated. cultivated and agricultural productivity is low. Small-scale manufacturing activity features the processing of peanuts, cashews, groundnuts, fish, and hides. The Gambia's re-export reexport trade accounts for almost 80% of goods exports and China has been its largest trade partner for both exports and imports for several years.
The Gambia has sparse natural resource deposits and a limited agricultural base. deposits. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about one-fifth of the country’s GDP. The Gambia's natural beauty location on the ocean and proximity to Europe has made it one of the larger most frequented tourist destinations in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. Tourism normally brings in about 20% of GDP, but it suffered in 2014 from tourists’ fears of Ebola virus in neighboring West African countries. Unemployment and underemployment remain high.
Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be were concerned about the quality of fiscal management. The IMF provided $10.8 million management under the administration of former President Yahya JAMMEH, who reportedly stole hundreds of millions of dollars of the country’s funds during his 22 years in emergency financial assistance to power, but anticipate significant improvements under the new administration of President Adama BARROW, who assumed power in early 2017. As of April 2017, the IMF, the World Bank, the European Union, and the African Development Bank were all negotiating with the new government of The Gambia to provide financial support in April 2015 the coming months to shore up ease the country’s finances. Relations financial crisis.
The country’s GDP contracted in 2016 largely as a result of the limited availability of foreign exchange, weak agricultural output, the border closure with international donors have been tarnished by Senegal during the country’s human rights record. first half of the year, and a slowdown in tourism during the political impasse that occurred at the height of the tourist season. The country faces a large fiscal deficit and a high domestic debt burden that has crowded out private sector investment and driven interest rates to new highs. The new government has committed to taking steps to reduce the deficit, including through expenditure caps, debt consolidation, and reform of state-owned enterprises.

The government has invested in the agriculture sector because three-quarters of the population depends on the sector for its livelihood and agriculture provides for about one-third of GDP, making The Gambia largely reliant on sufficient rainfall. The agricultural sector has untapped potential - less than half of arable land is cultivated and agricultural productivity is low. Small-scale manufacturing activity features the processing of cashews, groundnuts, fish, and hides. The Gambia's reexport trade accounts for almost 80% of goods exports and China has been its largest trade partner for both exports and imports for several years.
The Gambia has sparse natural resource deposits. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about one-fifth of the country’s GDP. The Gambia's location on the ocean and proximity to Europe has made it one of the most frequented tourist destinations in West Africa, boosted by private sector investments in eco-tourism and facilities. Tourism normally brings in about 20% of GDP, but it suffered in 2014 from tourists’ fears of Ebola virus in neighboring West African countries. Unemployment and underemployment remain high.
Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders were concerned about the quality of fiscal management under the administration of former President Yahya JAMMEH, who reportedly stole hundreds of millions of dollars of the country’s funds during his 22 years in power, but anticipate significant improvements under the new administration of President Adama BARROW, who assumed power in early 2017. As of April 2017, the IMF, the World Bank, the European Union, and the African Development Bank were all negotiating with the new government of The Gambia to provide financial support in the coming months to ease the country’s financial crisis.
The country’s GDP contracted in 2016 largely as country faces a result of the limited availability of foreign exchange, weak agricultural output, the a border closure with Senegal during the first half of the year, and Senegal, a slowdown in tourism during the political impasse that occurred at the height of the tourist season. The country faces tourism, high inflation, a large fiscal deficit deficit, and a high domestic debt burden that has crowded out private sector investment and driven interest rates to new highs. The new government has committed to taking steps to reduce the deficit, including through expenditure caps, debt consolidation, and reform of state-owned enterprises.

The government has invested in the agriculture sector because three-quarters of the population depends on the sector for its livelihood and agriculture provides for about one-third of GDP, making The Gambia largely reliant on sufficient rainfall. The agricultural sector has untapped potential - less than half of arable land is cultivated and agricultural productivity is low. Small-scale manufacturing activity features the processing of cashews, groundnuts, fish, and hides. The Gambia's reexport trade accounts for almost 80% of goods exports and China has been its largest trade partner for both exports and imports for several years.
The Gambia has sparse natural resource deposits. It relies heavily on remittances from workers overseas and tourist receipts. Remittance inflows to The Gambia amount to about one-fifth of the country’s GDP. The Gambia's location on the ocean and proximity to Europe has made it one of the most frequented tourist destinations in West Africa, boosted by private sector investments in eco-tourism and facilities. Tourism normally brings in about 20% of GDP, but it suffered in 2014 from tourists’ fears of Ebola virus in neighboring West African countries. Unemployment and underemployment remain high.
Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders were concerned about the quality of fiscal management under the administration of former President Yahya JAMMEH, who reportedly stole hundreds of millions of dollars of the country’s funds during his 22 years in power, but anticipate significant improvements under the new administration of President Adama BARROW, who assumed power in early 2017. As of April 2017, the IMF, the World Bank, the European Union, and the African Development Bank were all negotiating with the new government of The Gambia to provide financial support in the coming months to ease the country’s financial crisis.
The country faces a limited availability of foreign exchange, weak agricultural output, a border closure with Senegal, a slowdown in tourism, high inflation, a large fiscal deficit, and a high domestic debt burden that has crowded out private sector investment and driven interest rates to new highs. The government has committed to taking steps to reduce the deficit, including through expenditure caps, debt consolidation, and reform of state-owned enterprises.

small low-income West African economy; COVID-19 reversed robust growth trends; good fiscal management; substantial agriculture-dominant; high poverty rate; heightened inflation; dependent on foreign direct investment assistance and remittances; G20 Debt Service Suspension Initiative participant; widespread poverty; increasing Chinese relations structural reforms conditioned by IMF Extended Credit Facility program