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Gambia

Headline economic indicators for Gambia, with the most recent official readings.

Prices

Prices — Gambia
Indicator Value Change
Inflation rate · 11.6% -5.41 (-31.9%)
Consumer price index · 285.9 +29.63 (+11.6%)
GDP deflator inflation · 7.9% +2.09 (+36.1%)

GDP

GDP — Gambia
Indicator Value Change
GDP growth rate · 5.9% +0.34 (+6.2%)
GDP per capita · 919.06 +47.72 (+5.5%)
GDP per capita, long-run history · 2,011 +46.04 (+2.3%)
GDP · 2,593,673,987.53 +188,785,250 (+7.9%)
GDP, PPP · 10,457,665,898 +851,086,038 (+8.9%)
GDP per capita, PPP · 3,706 +224.98 (+6.5%)
GDP per capita growth · 3.6% +0.39 (+12.2%)
GNI per capita · 930 +50.00 (+5.7%)
Agriculture to GDP · 23.8% +3.41 (+16.7%)
Industry to GDP · 15.8% +0.50 (+3.2%)
Manufacturing to GDP · 1.5% -0.25 (-14.4%)
Services to GDP · 53.1% -3.72 (-6.5%)
Household consumption to GDP · 86.1% -0.14 (-0.2%)
Gross capital formation to GDP · 40.4% +10.45 (+34.9%)
Gross savings to GDP · 25.7% -0.26 (-1.0%)

Labour

Labour — Gambia
Indicator Value Change
Unemployment rate · 6.5% +0.04 (+0.6%)
Labour force participation rate · 47.5% -0.05 (-0.1%)
Female labour force participation rate · 45.5% +0.03 (+0.1%)
Youth unemployment rate · 10.9% +0.03 (+0.3%)
Employment to population ratio · 44.4% -0.07 (-0.1%)
Employment in agriculture · 27.6% -0.75 (-2.6%)
Employment in industry · 18.8% +0.11 (+0.6%)
Employment in services · 53.6% +0.64 (+1.2%)

Money

Money — Gambia
Indicator Value Change
Real interest rate · 13.1% -2.24 (-14.6%)
Broad money to GDP · 46.9% -1.67 (-3.4%)
Private sector credit to GDP · 9.4% +0.68 (+7.8%)
Lending rate · 22.0% +0.00 (+0.0%)
Bank deposit rate · 6.5% +0.00 (+0.0%)
Bank nonperforming loans · 4.6% -0.59 (-11.5%)
Official exchange rate · 71.29 +3.63 (+5.4%)

Trade

Trade — Gambia
Indicator Value Change
Current account to GDP · -2.9% +1.22 (+29.5%)
Exports to GDP · 12.7% +3.98 (+45.5%)
Imports to GDP · 49.4% +16.02 (+47.9%)
Trade to GDP · 62.2% +20.00 (+47.4%)
Exports of goods and services · 330,185,893.24 +119,785,971 (+56.9%)
Imports of goods and services · 1,282,337,368.51 +478,580,867 (+59.5%)
Trade balance, goods and services (annual) · -676,959,637.95 +24,416,566 (+3.5%)
Current account balance (annual) · -75,902,428.48 +23,890,804 (+23.9%)
Foreign direct investment to GDP · 10.6% +0.89 (+9.2%)
Remittances received to GDP · 23.8% +1.79 (+8.1%)
Total reserves, including gold · 628,849,157.48 +51,820,928 (+9.0%)
Reserves in months of imports · 4.8 -0.16 (-3.3%)
External debt to GNI · 66.4% +10.56 (+18.9%)

Government

Government — Gambia
Indicator Value Change
Government revenue to GDP · 19.4% unchanged
Government expense to GDP · 17.2% unchanged
Tax revenue to GDP · 18.2% unchanged
Government budget balance to GDP · 2.1% unchanged
Government consumption to GDP · 10.2% +0.67 (+7.0%)
Education spending to GDP · 2.8% -0.08 (-2.9%)
Health spending to GDP · 2.9% -0.64 (-18.2%)

Demography

Demography — Gambia
Indicator Value Change
Population · 2,822,093 +62,105 (+2.3%)
Population, long-run history · 2,316 +56.56 (+2.5%)
Population growth · 2.2% -0.05 (-2.3%)
Life expectancy · 66.1 +0.20 (+0.3%)
Fertility rate · 3.91 -0.10 (-2.5%)
Birth rate · 29.9 -0.57 (-1.9%)
Death rate · 6.2 -0.04 (-0.7%)
Urban population share · 65.0% +0.69 (+1.1%)
Population aged 65 and over · 3.2% +0.11 (+3.5%)
Under-five mortality rate · 42.4 -1.40 (-3.2%)
Population density · 272.7 +6.14 (+2.3%)
Net migration · -2,984 +5.00 (+0.2%)
Gini index · 38.8 +2.90 (+8.1%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Gambia; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.