The Gambia ranked 173/197 by economy size with a GDP of $2.51B and 182/197 by GDP per capita at $909. The Gambia has $1.83B in government debt, with a debt-to-GDP ratio of 67.5%.
In 2025, the Gambia made up 0.002% of the world's economy, compared to 0.002% in 1966.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1966 | $44,212,081 | $253,504,726 | - |
| 1967 | $46,695,007 | $253,504,726 | 5.62% |
| 1968 | $41,160,066 | $277,780,702 | -11.9% |
| 1969 | $45,168,072 | $284,546,115 | 9.74% |
| 1970 | $52,296,084 | $302,056,646 | 15.8% |
| 1971 | $55,728,663 | $301,857,660 | 6.56% |
| 1972 | $59,160,569 | $302,587,264 | 6.16% |
| 1973 | $75,187,749 | $330,577,582 | 27.1% |
| 1974 | $95,796,022 | $350,011,556 | 27.4% |
| 1975 | $115,179,719 | $393,389,990 | 20.2% |
| 1976 | $112,190,829 | $422,308,977 | -2.59% |
| 1977 | $138,093,099 | $436,834,615 | 23.1% |
| 1978 | $171,833,086 | $464,427,039 | 24.4% |
| 1979 | $207,112,628 | $458,258,597 | 20.5% |
| 1980 | $241,083,090 | $486,991,776 | 16.4% |
| 1981 | $218,767,743 | $503,169,127 | -9.26% |
| 1982 | $216,050,552 | $499,321,983 | -1.24% |
| 1983 | $213,448,585 | $553,664,332 | -1.2% |
| 1984 | $177,340,880 | $573,237,790 | -16.9% |
| 1985 | $225,726,359 | $568,581,582 | 27.3% |
| 1986 | $185,646,987 | $591,842,657 | -17.8% |
| 1987 | $220,626,484 | $606,368,444 | 18.8% |
| 1988 | $266,672,212 | $633,514,510 | 20.9% |
| 1989 | $284,120,329 | $670,864,764 | 6.54% |
| 1990 | $317,083,695 | $694,740,031 | 11.6% |
| 1991 | $690,311,081 | $716,325,877 | 117.7% |
| 1992 | $714,254,256 | $740,528,299 | 3.47% |
| 1993 | $755,040,974 | $762,833,762 | 5.71% |
| 1994 | $746,493,952 | $764,011,165 | -1.13% |
| 1995 | $785,999,865 | $770,748,584 | 5.29% |
| 1996 | $848,239,446 | $787,886,530 | 7.92% |
| 1997 | $803,633,342 | $826,492,963 | -5.26% |
| 1998 | $840,285,265 | $855,420,206 | 4.56% |
| 1999 | $814,724,032 | $910,167,091 | -3.04% |
| 2000 | $782,913,872 | $960,226,283 | -3.9% |
| 2001 | $687,410,645 | $1,015,919,410 | -12.2% |
| 2002 | $578,235,309 | $982,902,028 | -15.9% |
| 2003 | $487,038,685 | $1,050,427,393 | -15.8% |
| 2004 | $961,900,651 | $1,124,482,525 | 97.5% |
| 2005 | $1,027,701,068 | $1,098,037,739 | 6.84% |
| 2006 | $1,054,112,488 | $1,091,937,250 | 2.57% |
| 2007 | $1,279,703,047 | $1,125,167,625 | 21.4% |
| 2008 | $1,561,766,956 | $1,195,557,049 | 22% |
| 2009 | $1,450,142,509 | $1,275,249,586 | -7.15% |
| 2010 | $1,543,294,927 | $1,350,595,614 | 6.42% |
| 2011 | $1,409,693,597 | $1,240,786,190 | -8.66% |
| 2012 | $1,415,004,738 | $1,305,822,858 | 0.38% |
| 2013 | $1,375,609,453 | $1,343,336,129 | -2.78% |
| 2014 | $1,229,461,721 | $1,324,430,252 | -10.6% |
| 2015 | $1,378,176,609 | $1,378,176,609 | 12.1% |
| 2016 | $1,484,578,886 | $1,404,959,537 | 7.72% |
| 2017 | $1,504,909,463 | $1,472,715,274 | 1.37% |
| 2018 | $1,670,671,328 | $1,579,264,609 | 11% |
| 2019 | $1,813,609,692 | $1,677,527,292 | 8.56% |
| 2020 | $1,812,170,891 | $1,687,449,653 | -0.08% |
| 2021 | $2,014,158,842 | $1,776,141,480 | 11.1% |
| 2022 | $2,204,734,527 | $1,873,704,901 | 9.46% |
| 2023 | $2,396,111,021 | $1,963,596,061 | 8.68% |
| 2024 | $2,507,519,958 | $2,076,438,382 | 4.65% |
Economic Statistics of the Gambia
Gambia
|
Rank | |
|---|---|---|
| Gross domestic product |
$2.51B
2024 |
173/197 |
| GDP growth |
4.65%
2023-2024 |
117/196 |
| GDP per capita |
$909
2024 |
182/197 |
| GDP per capita, PPP |
$3,445
2024 |
172/197 |
| Government debt |
$1.83B
2024 |
159/185 |
| Debt-to-GDP ratio |
67.5%
2025 |
62/185 |
| Government debt per person |
$663
2024 |
157/185 |
| Average annual personal income after taxes |
$753
2025 |
196/197 |
| Income share by richest 10% |
30.5%
2020 |
53/169 |
| Income share by poorest 10% |
2.6%
2020 |
100/169 |
| Government expenditure, % of GDP |
24%
2025 |
130/195 |
| Consumer prices inflation |
11.6%
2023-2024 |
24/195 |
| Central bank interest rate |
17%
2023 |
13/105 |
| Unemployment rate |
6.48%
2023 |
72/196 |
| Population |
2871879
|
140/197 |
Gambia's GDP per capita
The Gambia has a GDP per capita of $909, ranking 182/197, a GDP per capita based on purchasing power parity (PPP) of $3,445, ranking 172/197, and a median annual after tax income of $753, ranking 196/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1966 | $94.4 | - |
| 1967 | $97 | - |
| 1968 | $83.1 | - |
| 1969 | $88.7 | - |
| 1970 | $99.8 | - |
| 1971 | $103.3 | - |
| 1972 | $106.5 | - |
| 1973 | $131.4 | - |
| 1974 | $162.6 | - |
| 1975 | $189.8 | - |
| 1976 | $179.3 | - |
| 1977 | $213.8 | - |
| 1978 | $257.6 | - |
| 1979 | $300 | - |
| 1980 | $338 | - |
| 1981 | $296 | - |
| 1982 | $282.1 | - |
| 1983 | $268.6 | - |
| 1984 | $214.8 | - |
| 1985 | $262.8 | - |
| 1986 | $207.7 | - |
| 1987 | $237 | - |
| 1988 | $274.9 | - |
| 1989 | $280.9 | - |
| 1990 | $301 | $1,409 |
| 1991 | $628 | $1,440 |
| 1992 | $623 | $1,462 |
| 1993 | $635 | $1,487 |
| 1994 | $608 | $1,473 |
| 1995 | $622 | $1,472 |
| 1996 | $652 | $1,489 |
| 1997 | $600 | $1,544 |
| 1998 | $610 | $1,572 |
| 1999 | $575 | $1,649 |
| 2000 | $538 | $1,731 |
| 2001 | $460 | $1,823 |
| 2002 | $377 | $1,744 |
| 2003 | $309 | $1,850 |
| 2004 | $593 | $1,979 |
| 2005 | $616 | $1,938 |
| 2006 | $615 | $1,931 |
| 2007 | $725 | $1,985 |
| 2008 | $859 | $2,088 |
| 2009 | $775 | $2,177 |
| 2010 | $801 | $2,267 |
| 2011 | $711 | $2,064 |
| 2012 | $693 | $2,065 |
| 2013 | $654 | $2,007 |
| 2014 | $568 | $1,934 |
| 2015 | $620 | $1,990 |
| 2016 | $650 | $2,013 |
| 2017 | $643 | $2,039 |
| 2018 | $696 | $2,277 |
| 2019 | $738 | $2,422 |
| 2020 | $720 | $2,531 |
| 2021 | $782 | $2,778 |
| 2022 | $836 | $3,067 |
| 2023 | $888 | $3,254 |
| 2024 | $909 | $3,445 |
Gambia's government spending, deficit, and chart
This chart shows the Gambia's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 26 years, the Gambia recorded a fiscal deficit in 24 years — average annual deficit equal to -2.91% of GDP. In 2024, government spending reached $612M (24% of GDP), with a deficit of -1.35%.
The national debt reached $1.83B, ranking 159th out of 185 countries by total size, with a debt-to-GDP ratio of 67.5%, ranking 62nd.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2000 | 9.54% | 73.3% | -0.09% |
| 2001 | 9.68% | 75.2% | -2.52% |
| 2002 | 8.59% | 93.9% | 0.06% |
| 2003 | 9.3% | 91.7% | -1.73% |
| 2004 | 12.4% | 81.3% | -1.77% |
| 2005 | 12.9% | 82.6% | -3.33% |
| 2006 | 14% | 87.3% | -3.19% |
| 2007 | 11.2% | 38% | 0.27% |
| 2008 | 11.6% | 39.5% | -0.45% |
| 2009 | 14.4% | 38.9% | -1.65% |
| 2010 | 14.6% | 42.9% | -2.93% |
| 2011 | 16.5% | 49.2% | -3.03% |
| 2012 | 19.1% | 49.5% | -2.85% |
| 2013 | 17.2% | 58.2% | -5.11% |
| 2014 | 19% | 71.1% | -3.94% |
| 2015 | 19.6% | 69.4% | -5.38% |
| 2016 | 19.4% | 79.3% | -6.22% |
| 2017 | 23.6% | 87% | -4.35% |
| 2018 | 19% | 83.6% | -3.92% |
| 2019 | 23.9% | 83% | -2.75% |
| 2020 | 25.3% | 85.9% | -2.37% |
| 2021 | 21.5% | 83.1% | -4.77% |
| 2022 | 22.6% | 83.9% | -5.01% |
| 2023 | 23.8% | 75.7% | -3.52% |
| 2024 | 24.4% | 72.9% | -3.89% |
| 2025 | 24% | 67.5% | -1.35% |
Inflation rate by year
Over the past 20 years, the Gambia has had an average annual inflation rate of 6.8%. In 2024, inflation was 11.6%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1962 | 1.79% |
| 1963 | 4.62% |
| 1964 | -4.54% |
| 1965 | 1.22% |
| 1966 | 0.24% |
| 1967 | 1.41% |
| 1968 | 4.18% |
| 1969 | 5.01% |
| 1970 | -1.99% |
| 1971 | 3.06% |
| 1972 | 8.7% |
| 1973 | 6.92% |
| 1974 | 9.24% |
| 1975 | 25.9% |
| 1976 | 17% |
| 1977 | 12.4% |
| 1978 | 8.86% |
| 1979 | 6.13% |
| 1980 | 6.82% |
| 1981 | 5.94% |
| 1982 | 10.9% |
| 1983 | 10.6% |
| 1984 | 22.1% |
| 1985 | 18.3% |
| 1986 | 56.6% |
| 1987 | 23.5% |
| 1988 | 11.7% |
| 1989 | 8.28% |
| 1990 | 12.2% |
| 1991 | 8.64% |
| 1992 | 9.49% |
| 1993 | 6.46% |
| 1994 | 1.71% |
| 1995 | 6.98% |
| 1996 | 1.1% |
| 1997 | 2.78% |
| 1998 | 1.11% |
| 1999 | 3.81% |
| 2000 | 0.84% |
| 2001 | 4.49% |
| 2002 | 8.61% |
| 2003 | 17% |
| 2004 | 14.2% |
| 2005 | 4.84% |
| 2006 | 2.06% |
| 2007 | 5.37% |
| 2008 | 4.44% |
| 2009 | 4.56% |
| 2010 | 5.05% |
| 2011 | 4.8% |
| 2012 | 4.25% |
| 2013 | 5.7% |
| 2014 | 5.95% |
| 2015 | 6.81% |
| 2016 | 7.23% |
| 2017 | 8.03% |
| 2018 | 6.52% |
| 2019 | 7.12% |
| 2020 | 5.93% |
| 2021 | 7.37% |
| 2022 | 11.5% |
| 2023 | 17% |
| 2024 | 11.6% |
Balance of trade
|
Gambia
|
Rank | |
|---|---|---|
Current account balance
|
-$74.4M
2024 |
84/189 |
| Current account balance, % of GDP |
-2.97%
2024 |
116/189 |
| Goods imports |
$1.39B
2024 |
161/188 |
| Goods exports |
$363M
2024 |
162/188 |
| Service imports |
$161M
2024 |
178/188 |
| Service exports |
$475M
2024 |
145/188 |
| Imports of goods and services, % of GDP |
37.2%
2024 |
111/180 |
| Exports of goods and services, % of GDP |
6.55%
2024 |
188/193 |
The Gambia's top 10 trading partners
The Gambia's biggest trading partner accounting for 21%% of all exports and imports is Senegal, with a trade balance between the two of -$204M — the Gambia exports $5.8M worth of goods and services to Senegal and imports $209M.
Below is the list of the top 10 trade partners of the Gambia.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Senegal
|
$215M | 21% | $5.8M | $209M | Processed food, beverages & tobacco | Raw materials & minerals |
| 2 |
China
|
$104M | 10.2% | $18M | $86M | Raw agricultural goods | Machinery & equipment |
| 3 |
India
|
$51.5M | 5.04% | $1.73M | $49.8M | Raw agricultural goods | Machinery & equipment |
| 4 |
Russia
|
$51M | 4.98% | $9K | $50.9M | Processed food, beverages & tobacco | Raw materials & minerals |
| 5 |
Liberia
|
$40.5M | 3.96% | $7K | $40.5M | Textiles & consumer goods | Raw materials & minerals |
| 6 |
Belgium
|
$39.9M | 3.9% | $148K | $39.7M | Processed food, beverages & tobacco | Raw materials & minerals |
| 7 |
Brazil
|
$39.3M | 3.84% | $105K | $39.2M | Animal & marine products | Raw agricultural goods |
| 8 |
Egypt
|
$39M | 3.81% | $0 | $39M | Animal & marine products | Raw materials & minerals |
| 9 |
Nigeria
|
$38M | 3.72% | $3K | $38M | Processed food, beverages & tobacco | Raw materials & minerals |
| 10 |
Spain
|
$35.3M | 3.45% | $264K | $35M | Animal & marine products | Raw materials & minerals |
Gambia's top 10 exports
|
Gambia
|
Rank | |
|---|---|---|
| Transport & tourism services | $95.8M | 156/188 |
| Raw agricultural goods | $19.2M | 144/193 |
| Raw materials & minerals | $14.8M | 165/193 |
| Processed food, beverages & tobacco | $9.22M | 165/192 |
| IT & IP services | $4.46M | 167/183 |
| Manufacturing & construction services | $3.19M | 139/164 |
| Machinery & equipment | $2.58M | 176/193 |
| Animal & marine products | $1.43M | 172/192 |
| Chemicals & pharma | $1.13M | 172/193 |
| Business & finance services | $958K | 185/188 |
Gambia's top 10 imports
|
Gambia
|
Rank | |
|---|---|---|
| Raw materials & minerals | $408M | 152/193 |
| Machinery & equipment | $189M | 174/193 |
| Raw agricultural goods | $115M | 159/193 |
| Transport & tourism services | $103M | 177/188 |
| Processed food, beverages & tobacco | $72.5M | 175/193 |
| Textiles & consumer goods | $52.5M | 174/193 |
| Chemicals & pharma | $51.9M | 176/193 |
| Metals | $48.2M | 173/193 |
| Animal & marine products | $29.9M | 173/193 |
| Wood & paper products | $17.8M | 176/193 |
Economic freedom indices
|
Gambia
|
Rank | |
|---|---|---|
| Economic freedom | 56.8 | 116/197 |
| Property rights | 55 | 80/182 |
| Government integrity | 39.5 | 80/182 |
| Judicial effectiveness | 45.2 | 80/182 |
| Tax burden | 79.3 | 90/181 |
| Government spending | 84.8 | 46/180 |
| Fiscal health | 56.9 | 112/181 |
| Business freedom | 50.6 | 134/182 |
| Labor freedom | 48 | 154/182 |
| Monetary freedom | 55.7 | 161/180 |
| Trade freedom | 66.8 | 122/181 |
| Investment freedom | 50 | 111/181 |
| Financial freedom | 50 | 78/181 |
Gambia's economic freedom by year
The Gambia is ranked 103/180 for economic freedom with a score of 56.8, compared to 93/163 and a score of 56.5 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1997 | 52.9 | - | 72.5 | 80.8 | - |
| 1998 | 53.4 | - | 72.8 | 80.2 | - |
| 1999 | 52.1 | - | 70.5 | 72.5 | - |
| 2000 | 52.7 | - | 72.5 | 90.3 | - |
| 2001 | 56.6 | - | 72.7 | 90.3 | - |
| 2002 | 57.7 | - | 73 | 84.1 | - |
| 2003 | 56.3 | - | 72.9 | 85.3 | - |
| 2004 | 55.3 | - | 73.8 | 79.7 | - |
| 2005 | 56.5 | - | 73.5 | 80.6 | - |
| 2006 | 57.3 | - | 71 | 84.3 | - |
| 2007 | 57.7 | - | 72 | 70.8 | - |
| 2008 | 56.9 | - | 72.5 | 72.8 | - |
| 2009 | 55.8 | - | 71.9 | 74.4 | - |
| 2010 | 55.1 | - | 71.9 | 75.3 | - |
| 2011 | 57.4 | - | 73.2 | 79.7 | - |
| 2012 | 58.8 | - | 75 | 85.5 | - |
| 2013 | 58.8 | - | 75.1 | 82.7 | - |
| 2014 | 59.5 | - | 79 | 79.8 | - |
| 2015 | 57.5 | - | 75.4 | 73.4 | - |
| 2016 | 57.1 | - | 75.5 | 78 | - |
| 2017 | 53.4 | 38.8 | 74.9 | 74.3 | 3.2 |
| 2018 | 52.3 | 38.8 | 71.9 | 74 | 0 |
| 2019 | 52.4 | 42.5 | 74.3 | 70.7 | 0 |
| 2020 | 56.3 | 43.4 | 74.6 | 85.6 | 25.3 |
| 2021 | 58.8 | 44.3 | 76.9 | 84.1 | 54.5 |
| 2022 | 58 | 37.2 | 79.3 | 84.1 | 68.9 |
| 2023 | 57.9 | 36.9 | 79.3 | 83.5 | 70.4 |
| 2024 | 58.2 | 45.4 | 79.3 | 84.3 | 62.5 |
| 2025 | 56.8 | 45.2 | 79.3 | 84.8 | 56.9 |
More economic indicators
|
Gambia
|
Rank | |
|---|---|---|
| Services, % of GDP |
53.9%
2024 |
112/191 |
| Industry, % of GDP |
14.7%
2024 |
162/194 |
| Agriculture, forestry, and fishing, % of GDP |
24.1%
2024 |
24/193 |
|
GNI, Atlas method
|
$2.46B
2024 |
172/194 |
| GNI per capita, PPP |
$3,400
2024 |
168/191 |
| Total reserves including gold |
$629M
2024 |
151/177 |
|
Net foreign direct investment
|
-$232M
2024 |
85/188 |
|
Net inflows of foreign direct investment
|
$232M
2024 |
133/193 |
|
Net outflows of foreign direct investment
|
-$665K
2024 |
163/187 |
|
Servicing debt to the IMF, % of GNI
|
2.33%
2023 |
86/119 |
| Poverty at national poverty lines |
53.4%
2020 |
17/176 |
|
Gross capital formation, % of GDP
|
39%
2024 |
9/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Gambia topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.