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Gambia, The Economy 2009
http://www.geographic.org/wfb2009/gambia_the/gambia_the_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK

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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 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.

GDP (purchasing power parity):
$2.264 billion (2008 est.)
$2.146 billion (2007)
$2.019 billion (2006)
note: data are in 2008 US dollars

GDP (official exchange rate):
$779 million (2008 est.)

GDP - real growth rate:
5.5% (2008 est.)
6.3% (2007 est.)
6.5% (2006 est.)

GDP - per capita (PPP):
$1,300 (2008 est.)
$1,300 (2007 est.)
$1,200 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector:
agriculture: 33%
industry: 8.7%
services: 58.3% (2008 est.)

Labor force:
400,000 (1996)

Labor force - by occupation:
agriculture: 75%
industry: 19%
services: 6% (1996)

Unemployment rate:
NA%

Household income or consumption by percentage share:
lowest 10%: 1.8%
highest 10%: 37% (1998)

Distribution of family income - Gini index:
50.2 (1998)

Investment (gross fixed):
24.7% of GDP (2008 est.)

Budget:
revenues: $194.3 million
expenditures: $228.8 million (2008 est.)

Inflation rate (consumer prices):
6% (2008 est.)

Central bank discount rate:
10% (31 December 2007)

Commercial bank prime lending rate:
27.92% (31 December 2007)

Stock of money:
$186.7 million (31 December 2007)

Stock of quasi money:
$180.4 million (31 December 2007)

Stock of domestic credit:
$169.9 million (31 December 2007)

Market value of publicly traded shares:
$NA

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:
5.9% (2008 est.)

Electricity - production:
200.2 million kWh (2007 est.)

Electricity - consumption:
143.6 million kWh (2006 est.)

Electricity - exports:
0 kWh (2007 est.)

Electricity - imports:
0 kWh (2007 est.)

Oil - production:
0 bbl/day (2007 est.)

Oil - consumption:
2,082 bbl/day (2006 est.)

Oil - exports:
41.62 bbl/day (2005)

Oil - imports:
2,123 bbl/day (2005)

Oil - proved reserves:
0 bbl (1 January 2006 est.)

Natural gas - production:
0 cu m (2007 est.)

Natural gas - consumption:
0 cu m (2007 est.)

Natural gas - exports:
0 cu m (2007 est.)

Natural gas - imports:
0 cu m (2007 est.)

Natural gas - proved reserves:
0 cu m (1 January 2006 est.)

Current account balance:
-$116 million (2008 est.)

Exports:
$111 million f.o.b. (2008 est.)

Exports - commodities:
peanut products, fish, cotton lint, palm kernels, re-exports

Exports - partners:
India 37.7%, China 17.5%, UK 8.7%, France 5.1%, Belgium 4.2% (2007)

Imports:
$301 million f.o.b. (2008 est.)

Imports - commodities:
foodstuffs, manufactures, fuel, machinery and transport equipment

Imports - partners:
China 23.7%, Senegal 11.5%, Cote d'Ivoire 8.3%, Brazil 8%, Netherlands 5.2% (2007)

Reserves of foreign exchange and gold:
$144 million (31 December 2008 est.)

Debt - external:
$628.8 million (2003 est.)

Exchange rates:
dalasis (GMD) per US dollar - 22.75 (2008 est.), 27.79 (2007), 28.066 (2006), 28.575 (2005), 30.03 (2004)


NOTE: The information regarding Gambia, The on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gambia, The Economy 2009 information contained here. All suggestions for corrections of any errors about Gambia, The Economy 2009 should be addressed to the CIA.



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