Tourism in this country has three major strands. There is the traditonal "sun, sea and sex" holiday making use of the hot climate and wonderful beaches. The Gambia is also usually the first African destination for many european birders, in view of its easily accessed and spectacular avian fauna. There are also a significant number of African-Americans tracing their roots in this country, from which so many Africans were taken during the slave trade.
The tourist season is the dry season, during the Northern Hemisphere winter.
Short-run economic progress remains highly dependent on sustained bilateral and multilateral aid and on responsible government economic management as forwarded by IMF technical help and advice. Annual GDP growth is expected to fall to less than 4% over 2000-01.
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 tourism industry.
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 U.K. 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 U.K 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:
Household income or consumption by percentage share:
Labor force: 400,000
Labor force - by occupation: agriculture 75%, industry, commerce, and services 19%, government 6%
Unemployment rate: Not Available%
Budget:
Industrial production growth rate: Not Available%
Electricity
Exports: $132 million (f.o.b., 1998)
Economic aid - recipient: $45.4 million (1995)
Currency: 1 dalasi (D) = 100 butut
Exchange rates: dalasi (D) per US$1 - 11.626 (November 1999), 10.643 (1998), 10.200 (1997), 9.789 (1996), 9.546 (1995)
Fiscal year: 1 July - 30 June