The Gambia, known as the “Smiling Coast of Africa” is a small West-African nation surrounded by Senegal and bordering the Atlantic Ocean. It has an area of nearly 11,000 square kilometres and approximately 80 kilometres of coastline. The River Gambia runs through the entire country, making The Gambia an ideal gateway to the greater West Africa. It is the smallest non-island African country and is renowned for its political stability, liberal trade policies and market-based economy.
The Gambia had a GDP of USD 1.902 billion in 2020 and prior to the Covid-19 pandemic, had a real GDP growth rate of over 7 percent in 2018 and 6 percent in 2019. Though the Covid-19 pandemic caused economic growth to contract by 0.2 percent in 2020, strong containment measures mitigated such impacts and the country is poised for strong growth looking forward. Thanks to prudent macroeconomic policies, the country has maintained a low inflation rate hovering around 6 percent for the past 5 years.
testThe Gambia's location on the ocean, pristine beaches, ideal climate and proximity to Europe has made it a popular tourist destination in West Africa, boosted by private sector investments in eco-tourism facilities. The tourism sector accounts for approximately 20 percent of GDP and is also among the government’s top priority sectors. The greater services sector (including tourism, trade, transport and communications) collectively contributes up to 65 percent of The Gambia’s GDP. The Agriculture sector accounts for approximately 30 percent of GDP.
The Gambia has developed into a sub-regional re-export hub as industries profit from the country’s liberal trade policies and efficient port infrastructure.