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Gambia economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

The Gambia ranked 174/197 by economy size with a GDP of $2.4B and 183/197 by GDP per capita at $871. The Gambia has $1.92B in government debt, with a debt-to-GDP ratio of 80%.

In 2024, the Gambia made up 0.002% of the world's economy, compared to 0.002% in 1966.

Gambia GDP & GDP growth by year

GDP, current $
Inflation-adjusted growth
1x
Year GDP GDP growth
2024 $2,404,888,749 5.55%
2023 $2,382,262,185 5.92%
2022 $2,204,734,528 5.49%
2021 $2,014,158,842 5.26%
2020 $1,812,170,891 0.59%
2019 $1,813,609,692 6.22%
2018 $1,670,671,328 7.23%
2017 $1,504,909,463 4.82%
2016 $1,484,578,886 1.94%
2015 $1,378,176,609 4.06%
2014 $1,229,461,721 -1.41%
2013 $1,375,609,453 2.87%
2012 $1,415,004,738 5.24%
2011 $1,409,693,597 -8.13%
2010 $1,543,294,927 5.91%
2009 $1,450,142,509 6.67%
2008 $1,561,766,956 6.26%
2007 $1,279,703,047 3.04%
2006 $1,054,112,488 -0.56%
2005 $1,027,701,068 -2.35%
2004 $961,900,651 7.05%
2003 $487,038,685 6.87%
2002 $578,235,309 -3.25%
2001 $687,410,645 5.8%
2000 $782,913,872 5.5%
1999 $814,724,032 6.4%
1998 $840,285,265 3.5%
1997 $803,633,342 4.9%
1996 $848,239,446 2.22%
1995 $785,999,865 0.88%
1994 $746,493,952 0.15%
1993 $755,040,974 3.01%
1992 $714,254,256 3.38%
1991 $690,311,081 3.11%
1990 $317,083,695 3.56%
1989 $284,120,329 5.9%
1988 $266,672,212 4.48%
1987 $220,626,484 2.45%
1986 $185,646,987 4.09%
1985 $225,726,359 -0.81%
1984 $177,340,880 3.54%
1983 $213,448,585 10.9%
1982 $216,050,552 -0.76%
1981 $218,767,743 3.32%
1980 $241,083,090 6.27%
1979 $207,112,628 -1.33%
1978 $171,833,086 6.32%
1977 $138,093,099 3.44%
1976 $112,190,829 7.35%
1975 $115,179,719 12.4%
1974 $95,796,022 5.88%
1973 $75,187,749 9.25%
1972 $59,160,569 0.24%
1971 $55,728,663 -0.07%
1970 $52,296,084 6.15%
1969 $45,168,072 2.44%
1968 $41,160,066 9.58%
1967 $46,695,007 0%
1966 $44,212,081 -

Data sources: World Bank | Economy & Growth (1966–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia | CC BY

Gambia GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $871 $3,476
2023 $883 $3,289
2022 $836 $3,067
2021 $782 $2,778
2020 $720 $2,531
2019 $738 $2,422
2018 $696 $2,277
2017 $643 $2,039
2016 $650 $2,013
2015 $620 $1,990
2014 $568 $1,934
2013 $654 $2,007
2012 $693 $2,065
2011 $711 $2,064
2010 $801 $2,267
2009 $775 $2,177
2008 $859 $2,088
2007 $725 $1,985
2006 $615 $1,931
2005 $616 $1,938
2004 $593 $1,979
2003 $309 $1,850
2002 $377 $1,744
2001 $460 $1,823
2000 $538 $1,731
1999 $575 $1,649
1998 $610 $1,572
1997 $600 $1,544
1996 $652 $1,489
1995 $622 $1,472
1994 $608 $1,473
1993 $635 $1,487
1992 $623 $1,462
1991 $628 $1,440
1990 $301 $1,409
1989 $280.9 -
1988 $274.9 -
1987 $237 -
1986 $207.7 -
1985 $262.8 -
1984 $214.8 -
1983 $268.6 -
1982 $282.1 -
1981 $296 -
1980 $338 -
1979 $300 -
1978 $257.6 -
1977 $213.8 -
1976 $179.3 -
1975 $189.8 -
1974 $162.6 -
1973 $131.4 -
1972 $106.5 -
1971 $103.3 -
1970 $99.8 -
1969 $88.7 -
1968 $83.1 -
1967 $97 -
1966 $94.4 -

Data sources: World Bank | Economy & Growth (1966–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia | CC BY

The Gambia has a GDP per capita of $871, ranking 183/197, a GDP per capita based on purchasing power parity (PPP) of $3,476, ranking 172/197, and a median annual after tax income of $741, ranking 196/197.

Gambia GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 165 172 158
2023 171 178 167
2022 173 181 168
2021 172 180 168
2020 173 181 171
2019 175 182 172
2018 175 183 172
2017 178 185 176
2016 177 184 174
2015 179 185 174
2014 180 187 174
2013 177 186 175
2012 175 183 170
2011 176 183 172
2010 175 173 165
2009 174 171 165
2008 172 168 166
2007 174 165 165
2006 175 164 165
2005 170 160 163
2004 169 157 159
2003 181 179 159
2002 175 170 160
2001 172 158 157
2000 168 151 157
1999 163 145 159
1998 163 142 158
1997 164 147 155
1996 161 140 153
1995 160 139 150
1994 157 133 145
1993 155 131 144
1992 149 133 145
1991 153 135 145
1990 163 163 143
1989 148 147 -
1988 149 152 -
1987 148 152 -
1986 144 151 -
1985 139 140 -
1984 139 144 -
1983 134 138 -
1982 134 137 -
1981 134 136 -
1980 135 133 -
1979 127 126 -
1978 127 124 -
1977 127 128 -
1976 127 129 -
1975 128 127 -
1974 126 126 -
1973 129 127 -
1972 129 129 -
1971 128 129 -
1970 128 129 -
1969 117 111 -
1968 117 112 -
1967 116 107 -
1966 114 105 -

Data sources: World Bank | Economy & Growth (1966–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia | CC BY

Compared with 2000, in 2024 the Gambia is ranked 165th out of 182 by GDP (up from 168th), 172nd by GDP per capita (down from 151st), and 158th by GDP per capita PPP (down from 157th).

Economic indicators

Gambia Rank
Gross domestic product
$2.4B
2024
174/197
GDP growth
5.55%
2023-2024
29/194
GDP per capita
$871
2024
183/197
GDP per capita, PPP
$3,476
2024
172/197
Government debt
$1.92B
2024
160/185
Debt-to-GDP ratio
80%
2024
45/185
Government debt per person
$697
2024
155/185
Average annual personal income after taxes
$741
2026
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
25.8%
2024
119/195
Consumer prices inflation
11.6%
2023-2024
26/195
Central bank interest rate
17%
2023
15/106
Unemployment rate
6.48%
2023
73/196
Population
2902554
140/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 25.8% 80% -4.08%
2023 24.9% 80.2% -3.69%
2022 24.6% 83.9% -5.72%
2021 21.5% 83.1% -4.77%
2020 25.3% 85.9% -2.37%
2019 23.9% 83% -2.75%
2018 19% 83.6% -3.92%
2017 23.6% 87% -4.35%
2016 19.4% 80.7% -6.22%
2015 19.6% 69.4% -5.38%
2014 19% 71.1% -3.94%
2013 17.2% 58.2% -5.11%
2012 19.1% 49.5% -2.85%
2011 16.5% 49.2% -3.03%
2010 14.6% 42.9% -2.93%
2009 14.4% 38.9% -1.65%
2008 11.6% 39.5% -0.45%
2007 11.2% 38% 0.27%
2006 14% 87.3% -3.19%
2005 12.9% 82.6% -3.33%
2004 12.4% 81.3% -1.77%
2003 9.3% 91.7% -1.73%
2002 8.59% 93.9% 0.06%
2001 9.68% 75.2% -2.52%
2000 9.54% 73.3% -0.09%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20).

GeoRank.org/economy/gambia | CC BY

This chart shows the Gambia's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 25 years, the Gambia recorded a fiscal deficit in 23 of them, with an average annual deficit equal to 3.02% of GDP. In 2024, government spending reached $621M (25.8% of GDP), with a deficit of 4.08%.

The national debt reached $1.92B, ranking 160th out of 185 countries by total size, with a debt-to-GDP ratio of 80%, ranking 45th.

Inflation rate by year

1x
Year Inflation
2024 11.6%
2023 17%
2022 11.5%
2021 7.37%
2020 5.93%
2019 7.12%
2018 6.52%
2017 8.03%
2016 7.23%
2015 6.81%
2014 5.95%
2013 5.7%
2012 4.25%
2011 4.8%
2010 5.05%
2009 4.56%
2008 4.44%
2007 5.37%
2006 2.06%
2005 4.84%
2004 14.2%
2003 17%
2002 8.61%
2001 4.49%
2000 0.84%
1999 3.81%
1998 1.11%
1997 2.78%
1996 1.1%
1995 6.98%
1994 1.71%
1993 6.46%
1992 9.49%
1991 8.64%
1990 12.2%
1989 8.28%
1988 11.7%
1987 23.5%
1986 56.6%
1985 18.3%
1984 22.1%
1983 10.6%
1982 10.9%
1981 5.94%
1980 6.82%
1979 6.13%
1978 8.86%
1977 12.4%
1976 17%
1975 25.9%
1974 9.24%
1973 6.92%
1972 8.7%
1971 3.06%
1970 -1.99%
1969 5.01%
1968 4.18%
1967 1.41%
1966 0.24%
1965 1.22%
1964 -4.54%
1963 4.62%
1962 1.79%

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia | CC BY

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 above shows consumer price inflation by year.

Balance of trade

Gambia Rank
Current account balance
-$99.8M
2024
88/190
Current account balance, % of GDP
-4.15%
2024
129/190
Goods imports
$1.39B
2024
162/189
Goods exports
$363M
2024
163/189
Service imports
$161M
2024
179/189
Service exports
$485M
2024
146/189
Imports of goods and services, % of GDP
33.4%
2024
114/181
Exports of goods and services, % of GDP
8.75%
2024
184/193

Gambia 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

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

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 56.3 123/197
Property rights 55.4 77/182
Government integrity 40.5 96/182
Judicial effectiveness 45.8 91/182
Tax burden 79.2 90/182
Government spending 81.1 61/180
Fiscal health 54.8 126/181
Business freedom 50.1 141/182
Labor freedom 46.4 154/182
Monetary freedom 57.3 159/180
Trade freedom 64.8 132/181
Investment freedom 50 109/181
Financial freedom 50 79/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 56.3 45.8 79.2 81.1 54.8
2025 56.8 45.2 79.3 84.8 56.9
2024 58.2 45.4 79.3 84.3 62.5
2023 57.9 36.9 79.3 83.5 70.4
2022 58 37.2 79.3 84.1 68.9
2021 58.8 44.3 76.9 84.1 54.5
2020 56.3 43.4 74.6 85.6 25.3
2019 52.4 42.5 74.3 70.7 0
2018 52.3 38.8 71.9 74 0
2017 53.4 38.8 74.9 74.3 3.2
2016 57.1 - 75.5 78 -
2015 57.5 - 75.4 73.4 -
2014 59.5 - 79 79.8 -
2013 58.8 - 75.1 82.7 -
2012 58.8 - 75 85.5 -
2011 57.4 - 73.2 79.7 -
2010 55.1 - 71.9 75.3 -
2009 55.8 - 71.9 74.4 -
2008 56.9 - 72.5 72.8 -
2007 57.7 - 72 70.8 -
2006 57.3 - 71 84.3 -
2005 56.5 - 73.5 80.6 -
2004 55.3 - 73.8 79.7 -
2003 56.3 - 72.9 85.3 -
2002 57.7 - 73 84.1 -
2001 56.6 - 72.7 90.3 -
2000 52.7 - 72.5 90.3 -
1999 52.1 - 70.5 72.5 -
1998 53.4 - 72.8 80.2 -
1997 52.9 - 72.5 80.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-03-09).

GeoRank.org/economy/gambia | CC BY

The Gambia is ranked 110/174 for economic freedom with a score of 56.3, compared to 91/162 and a score of 57.3 in 2006.

Other economic metrics

Gambia Rank
Services, % of GDP
56.8%
2024
99/191
Industry, % of GDP
15.3%
2024
161/194
Agriculture, forestry, and fishing, % of GDP
20.4%
2024
37/193
GNI, Atlas method
$2.43B
2024
172/194
GNI per capita, PPP
$3,430
2024
168/191
Total reserves including gold
$629M
2024
151/177
Net foreign direct investment
-$232M
2024
86/189
Net inflows of foreign direct investment
$232M
2024
131/193
Net outflows of foreign direct investment
-$665K
2024
171/193
Servicing debt to the IMF, % of GNI
3.25%
2024
75/121
Poverty at national poverty lines
53.4%
2020
17/176
Gross capital formation, % of GDP
29.9%
2024
36/178

Compare Gambia vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/gambia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1997–2026, retrieved 2026-03-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.