Economy
GDP (2002): $360 million.
Annual growth rate: (2002) 3%.
Per capita income (2002): $330.
Natural resources: Seismic studies indicate the possible presence of oil and gas offshore.
Agriculture (29% of GDP): Products--peanuts, rice, millet, sorghum, fish, palm kernels, vegetables, livestock, forestry.
Industry (12% of GDP): Types--peanut products, construction, telecommunications, brewing, soft drinks, agricultural machinery assembly, woodworking, metal working, clothing.
Trade: (2000 est.): Exports--$12.03 million, including re-exports, groundnut and groundnut products (37%), fish and fish products (7%), fruits and vegetables (26%). Major markets--U.K., other EU countries, and Senegal. Imports--$139.3 million, including textiles, readymade foodstuffs, machinery, transportation equipment. 98% for domestic consumption, 2% for re-export. Major suppliers--U.K.; other EU countries; China, Japan, and other Asian countries; West African neighbors. Official Development Assistance (ODA) received from all sources (2001): $50.9 million. U.S. economic aid received (FY 2001): $6.2 million in food aid and assistance to democracy and human rights programs.

GAMBIA THE ECONOMY
The Gambia has a liberal, market-based economy characterized by traditional subsistence agriculture, a historic reliance on groundnuts (peanuts) 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 29% of gross domestic product (GDP) and employs 75% of the labor force. Within agriculture, peanut production accounts for 6.9% of GDP, other crops 8.3%, livestock 5.3%, fishing 1.8%, and forestry 0.5%. Industry accounts for 12% of GDP and forestry 0.5%. Manufacturing accounts for 5.5% 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.

The U.K. and other EU countries constitute 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.