Gambia: Economic Outline

Economic Indicators

During the last few years, GDP growth showed an annual average of 6.2% and has been only slightly affected by the global recession. Growth reached 5% in 2010 and should strenghten in 2011. Gambian growth is generally stimulated by tourism, construction and telecommunications, and is funded by the significant volume of foreign direct investments which represents approximately 12% of the GDP.

The IMF has recently commended the country's progress in its implementation of the PRGF (The Poverty Reduction and Growth Facility). Nevertheless, the government has to tackle the high level of debt and adopt strict tax and monetary measures. The 2011 budget emphasizes and increase in income, restriction of domestic loans and poverty reduction.

Gambia remains a poor country, with strong socio-economic and regional inequalities, and a high level of unemployment and under-employment.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	0.98	1.06e	1.11e	1.14	1.19
GDP (Constant Prices, Annual % Change)	6.7	6.1	5.5e	5.5	5.5
GDP per Capita (USD)	587e	612e	620e	616	623
General Government Gross Debt (in % of GDP)	57.0	57.8e	57.7e	56.9	54.2
Inflation Rate (%)	4.6	5.0e	5.9e	5.5	5.0
Current Account (billions USD)	-0.13	-0.16	-0.19	-0.16	-0.16
Current Account (in % of GDP)	-12.9	-15.5e	-17.2e	-13.7	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	449	520	-
Gambian Dalasi (GMD) - Average Annual Exchange Rate For 1 USD	22.19	26.64	28.01

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	-	-	-
Value Added (in % of GDP)	26.9	15.7	57.3
Value Added (Annual % Change)	4.0	6.4	6.3