International Trade in Gambia

International Trade in Gambia

Since 2003, 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... Read more

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Market Analyses About Gambia (29)

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Overview About International Trade in Gambia

Economic Overview

Since 2003, 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 since 2003, on average represented 12.6% 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.

 

FDI in Figures

FDI inflow, which contributed to 10% of the GDP in 2007, petered out in 2009 due to the global recession. They should however recovery their upward trend.

Gambia offers tax incentives, transparent and simple procedures and a strong potential in the tourism and re-export sectors. Its limite...

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