|The Gambia has a liberal, market-based economy characterized by
traditional subsistence agriculture, a historic reliance on peanuts or
groundnuts for export earnings, a re-export trade built up around its
ocean port, low import duties, minimal administrative procedures, a
fluctuating exchange rate with no exchange controls, and a significant
Agriculture accounts for 23% of gross domestic product (GDP) and employs 75% of the labor force. Within agriculture, peanut production accounts for 5.3% of GDP, other crops 8.3%, livestock 4.4%, fishing 1.8%, and forestry 0.5%. Industry accounts for 12% of GDP and forestry 0.5%. Manufacturing accounts for 6% of GDP. The limited amount of manufacturing is primarily agriculturally based (e.g., peanut processing, bakeries, a brewery, and a tannery). Other manufacturing activities include soap, soft drinks, and clothing. Services account for 19% of GDP.
In FY 1999 the United Kingdom and other EU countries were The Gambia's major domestic export markets, accounting for 86% in total; followed by Asia at 14%; and the African subregion, including Senegal, Guinea-Bissau, and Ghana at 8%. The United Kingdom and the other EU countries, namely Germany, France, Netherlands, and Belgium were the major source of imports, accounting for 60% of the total share of imports followed by Asia at 23%, and Cote d'Ivoire and other African countries at 17%. The Gambia reports 11% of its exports going to and 14.6% of its imports coming from the United States.
GDP: purchasing power parity -
$1.5 billion (2000 est.)
SOURCES: The World Factbook, U.S. Department of State
Mother Earth Travel > Country Index > Gambia > Map Economy History