Skip to content

Economy of Gambia vs Iran compared: GDP & Debt

Updated on by Georank team

The Gambia has a GDP of $2.4B compared to $475B for Iran, ranking 174/197 and 34/197 by economy size, respectively.

The Gambia has $1.92B in government debt (80% of GDP), compared to $162B (34% of GDP) in Iran.

Gambia vs Iran GDP by year

Gambia
Iran
1x
Year GDP, current $
Gambia Iran
2024 $2,404,888,749 $475,252,089,215
2023 $2,382,262,185 $457,510,482,317
2022 $2,204,734,528 $422,662,261,526
2021 $2,014,158,842 $407,350,685,583
2020 $1,812,170,891 $280,934,329,280
2019 $1,813,609,692 $347,988,400,958
2018 $1,670,671,328 $411,903,303,606
2017 $1,504,909,463 $510,239,893,418
2016 $1,484,578,886 $478,618,064,871
2015 $1,378,176,609 $409,191,686,497
2014 $1,229,461,721 $462,284,793,281
2013 $1,375,609,453 $500,399,839,840
2012 $1,415,004,738 $644,019,315,004
2011 $1,409,693,597 $629,082,257,472
2010 $1,543,294,927 $487,069,570,464
2009 $1,450,142,509 $414,059,094,949
2008 $1,561,766,956 $406,070,949,554
2007 $1,279,703,047 $349,736,591,832
2006 $1,054,112,488 $265,602,187,404
2005 $1,027,701,068 $224,970,371,325
2004 $961,900,651 $187,754,571,248
2003 $487,038,685 $151,911,222,119
2002 $578,235,309 $128,626,917,504
2001 $687,410,645 $126,878,750,296
2000 $782,913,872 $109,591,707,802
1999 $814,724,032 $113,848,450,088
1998 $840,285,265 $110,276,913,363
1997 $803,633,342 $113,919,163,421
1996 $848,239,446 $120,403,931,885
1995 $785,999,865 $96,419,225,744
1994 $746,493,952 $71,841,461,173
1993 $755,040,974 $63,743,623,232
1992 $714,254,256 $119,768,691,217
1991 $690,311,081 $131,637,664,958
1990 $317,083,695 $124,813,263,926
1989 $284,120,329 $120,496,362,916
1988 $266,672,212 $123,057,861,334
1987 $220,626,484 $134,009,995,923
1986 $185,646,987 $209,094,561,833
1985 $225,726,359 $180,183,629,600
1984 $177,340,880 $162,276,728,620
1983 $213,448,585 $156,365,156,618
1982 $216,050,552 $125,948,756,439
1981 $218,767,743 $100,499,312,750
1980 $241,083,090 $94,362,275,580
1979 $207,112,628 $90,391,877,326
1978 $171,833,086 $77,994,316,621
1977 $138,093,099 $80,600,122,702
1976 $112,190,829 $68,055,295,081
1975 $115,179,719 $51,776,222,350
1974 $95,796,022 $46,209,092,072
1973 $75,187,749 $27,081,698,250
1972 $59,160,569 $17,153,463,263
1971 $55,728,663 $13,731,802,833
1970 $52,296,084 $10,976,245,154
1969 $45,168,072 $9,743,089,607
1968 $41,160,066 $8,623,172,960
1967 $46,695,007 $7,555,383,690
1966 $44,212,081 $6,789,938,672
1965 - $6,197,319,929
1964 - $5,379,845,648
1963 - $4,928,628,018
1962 - $4,693,566,416
1961 - $4,426,949,095
1960 - $4,199,134,390

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia/iran | CC BY

GDP per capita in Gambia vs Iran by year

Gambia
GDP per capita

GDP per capita, PPP
Iran
GDP per capita

GDP per capita, PPP
1x
Year Current $
Gambia Iran
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $871 $3,476 $5,190 $19,874
2023 $883 $3,289 $5,049 $18,917
2022 $836 $3,067 $4,721 $17,546
2021 $782 $2,778 $4,605 $15,884
2020 $720 $2,531 $3,203 $15,119
2019 $738 $2,422 $3,997 $13,928
2018 $696 $2,277 $4,783 $15,324
2017 $643 $2,039 $6,001 $15,719
2016 $650 $2,013 $5,711 $15,195
2015 $620 $1,990 $4,953 $14,274
2014 $568 $1,934 $5,672 $16,065
2013 $654 $2,007 $6,223 $16,215
2012 $693 $2,065 $8,114 $17,021
2011 $711 $2,064 $8,026 $19,275
2010 $801 $2,267 $6,291 $18,628
2009 $775 $2,177 $5,416 $17,615
2008 $859 $2,088 $5,377 $17,549
2007 $725 $1,985 $4,688 $17,384
2006 $615 $1,931 $3,619 $15,907
2005 $616 $1,938 $3,132 $15,016
2004 $593 $1,979 $2,672 $14,425
2003 $309 $1,850 $2,209 $13,755
2002 $377 $1,744 $1,891 $12,554
2001 $460 $1,823 $1,881 $11,533
2000 $538 $1,731 $1,650 $11,187
1999 $575 $1,649 $1,740 $10,489
1998 $610 $1,572 $1,709 $10,285
1997 $600 $1,544 $1,790 $10,101
1996 $652 $1,489 $1,915 $9,916
1995 $622 $1,472 $1,550 $9,255
1994 $608 $1,473 $1,168 $8,951
1993 $635 $1,487 $1,038 $8,933
1992 $623 $1,462 $1,957 $8,888
1991 $628 $1,440 $2,194 $8,580
1990 $301 $1,409 $2,138 $7,566
1989 $280.9 - $2,125 -
1988 $274.9 - $2,234 -
1987 $237 - $2,513 -
1986 $207.7 - $4,064 -
1985 $262.8 - $3,634 -
1984 $214.8 - $3,395 -
1983 $268.6 - $3,397 -
1982 $282.1 - $2,845 -
1981 $296 - $2,393 -
1980 $338 - $2,368 -
1979 $300 - $2,352 -
1978 $257.6 - $2,101 -
1977 $213.8 - $2,243 -
1976 $179.3 - $1,954 -
1975 $189.8 - $1,532 -
1974 $162.6 - $1,409 -
1973 $131.4 - $851 -
1972 $106.5 - $555 -
1971 $103.3 - $457 -
1970 $99.8 - $377 -
1969 $88.7 - $345 -
1968 $83.1 - $314 -
1967 $97 - $283.7 -
1966 $94.4 - $262.9 -
1965 - - $247.5 -
1964 - - $221.7 -
1963 - - $209.6 -
1962 - - $205.8 -
1961 - - $200.1 -
1960 - - $195.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia/iran | CC BY

The Gambia's GDP per capita is $871, ranking 183/197, compared to $5,190 in Iran, ranking 119/197. Adjusted for purchasing power (GDP per capita PPP), the Gambia ranks 172nd at $3,476, while Iran ranks 97th at $19,874.

Economic indicators

Gambia Iran
Gross domestic product
$2.4B
2024
$475B
2024
GDP rank
174/197
2024
34/197
2024
GDP growth
5.55%
2023-2024
3.66%
2023-2024
GDP per capita
$871
2024
$5,190
2024
GDP per capita rank
183/197
2024
119/197
2024
GDP per capita, PPP
$3,476
2024
$19,874
2024
GDP per capita PPP rank
172/197
2024
97/197
2024
Government debt
$1.92B
2024
$162B
2024
Debt-to-GDP ratio
80%
2024
34%
2024
Government debt per person
$697
2024
$1,764
2024
Government debt per person rank
155/185
2024
122/185
2024
Average annual personal income after taxes
$741
2026
$2,964
2026
Market capitalization of domestic companies n/a
$172B
2024
Income share by richest 10%
30.5%
2020
28.2%
2023
Income share by poorest 10%
2.6%
2020
2.8%
2023
Government expenditure, % of GDP
25.8%
2024
14.2%
2024
Consumer prices inflation
11.6%
2023-2024
32.5%
2023-2024
Central bank interest rate
17%
2023
23%
2023
Unemployment rate
6.48%
2023
7.63%
2024
Population
2902554
93468444

Spending and national debt comparison by year

Gambia
Spending

Debt
Iran
Spending

Debt
1x
Year % of GDP
Gambia Iran
Government spending Government debt Government spending Government debt
2024 25.8% 80% 14.2% 34%
2023 24.9% 80.2% 12.8% 29.6%
2022 24.6% 83.9% 12.8% 34.5%
2021 21.5% 83.1% 13.4% 39.9%
2020 25.3% 85.9% 12.1% 47.1%
2019 23.9% 83% 13.6% 44.6%
2018 19% 83.6% 14.8% 41.6%
2017 23.6% 87% 16.4% 43.2%
2016 19.4% 80.7% 16.3% 45.9%
2015 19.6% 69.4% 14.1% 32.1%
2014 19% 71.1% 12.3% 10.9%
2013 17.2% 58.2% 11.5% 10.2%
2012 19.1% 49.5% 11.4% 11.7%
2011 16.5% 49.2% 14.6% 10.6%
2010 14.6% 42.9% 14.1% 12.8%
2009 14.4% 38.9% 15.7% 11.5%
2008 11.6% 39.5% 16.8% 10.6%
2007 11.2% 38% 14.2% 13.5%
2006 14% 87.3% 18.7% 15.2%
2005 12.9% 82.6% 17.9% 18.3%
2004 12.4% 81.3% 15.1% 21.1%
2003 9.3% 91.7% 15.7% 21.9%
2002 8.59% 93.9% 15.6% 23.4%
2001 9.68% 75.2% 13.6% 21%
2000 9.54% 73.3% 13.3% 18.2%
1999 - - 15.7% 22.2%
1998 - - 16.9% 29.6%
1997 - - 17.4% 30.9%
1996 - - 17.3% 29.3%
1995 - - 21% 31.2%
1994 - - 23% 41.7%
1993 - - 27.2% 25.6%
1992 - - 14.4% 25.2%
1991 - - 14% 29.3%
1990 - - 16.4% 37%
1989 - - 20% 48.8%
1988 - - 23.6% 53.2%
1987 - - 18.6% 48.6%
1986 - - 19% 47.4%
1985 - - 21.6% 8.73%
1984 - - 23.7% 10%
1983 - - 27.5% 35.7%
1982 - - 29.7% 47.7%
1981 - - 33.7% 47.6%
1980 - - 35.8% 35.5%
1979 - - - -
1978 - - - -
1977 - - - 9.23%
1976 - - - 6.92%
1975 - - - 8.81%
1974 - - - 6.68%
1973 - - - 12.8%
1972 - - - 12.7%
1971 - - - 14.2%
1970 - - - 14.1%
1969 - - - -
1968 - - 23.6% -
1967 - - 22.3% -
1966 - - 20.5% -
1965 - - 16.3% 14.9%
1964 - - 15.4% 15.2%
1963 - - 14.8% 12.4%
1962 - - 15.6% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

GeoRank.org/economy/gambia/iran | CC BY

In 2024, the Gambia's government spending was $621M, accounting for 25.8% of its GDP, while Iran spent $67.5B, or 14.2% of GDP.

Debt-to-GDP ratio is 80% in the Gambia and 34% in Iran, ranking 45/185 and 147/185, respectively.

Government deficit by year

Deficit/surplus
Gambia

Iran
1x
Year Deficit/surplus, % of GDP
Gambia Iran
2024 -4.08% -3.83%
2023 -3.69% -2.54%
2022 -5.72% -2.64%
2021 -4.77% -3.01%
2020 -2.37% -4.87%
2019 -2.75% -4.3%
2018 -3.92% -1.59%
2017 -4.35% -1.55%
2016 -6.22% -1.7%
2015 -5.38% -1.3%
2014 -3.94% -0.91%
2013 -5.11% -0.72%
2012 -2.85% -0.5%
2011 -3.03% -0.66%
2010 -2.93% -0.84%
2009 -1.65% -3.3%
2008 -0.45% -4.39%
2007 0.27% -2.41%
2006 -3.19% -4.91%
2005 -3.33% -2.44%
2004 -1.77% -2.45%
2003 -1.73% -2.76%
2002 0.06% -2.88%
2001 -2.52% 0.02%
2000 -0.09% 5.42%
1999 - -0.51%
1998 - -5.03%
1997 - -1.81%
1996 - -0.75%
1995 - -2.63%
1994 - -3.36%
1993 - -5.15%
1992 - -0.86%
1991 - -1.64%
1990 - -1.73%
1989 - -4.45%
1988 - -10.3%
1987 - -6.84%
1986 - -7.84%
1985 - -3.74%
1984 - -4.02%
1983 - -6.15%
1982 - -5.55%
1981 - -10.7%
1980 - -14.2%
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -4.57%
1967 - -4%
1966 - -2.63%
1965 - -1.23%
1964 - -0.04%
1963 - 0.26%
1962 - -1.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/gambia/iran | CC BY

In 2024, the Gambia's government deficit, the difference between spending and revenue, was $98.2M, equivalent to 4.08% of GDP. This compares to Iran's deficit of $18.2B, or 3.83% of GDP.

Over the past 25 years, the Gambia recorded a fiscal deficit in 23 of those years, while Iran ran a deficit in 23 years. On average, the Gambia posted an annual deficit equal to 3.02% of GDP, compared to deficit of 2.04% of GDP for Iran.

Inflation comparison by year

Inflation
Gambia

Iran
1x
Year Consumer prices inflation
Gambia Iran
2024 11.6% 32.5%
2023 17% 44.6%
2022 11.5% 43.5%
2021 7.37% 43.4%
2020 5.93% 30.6%
2019 7.12% 39.9%
2018 6.52% 18%
2017 8.03% 8.04%
2016 7.23% 7.25%
2015 6.81% 12.5%
2014 5.95% 16.6%
2013 5.7% 36.6%
2012 4.25% 27.3%
2011 4.8% 26.3%
2010 5.05% 10.1%
2009 4.56% 13.6%
2008 4.44% 25.4%
2007 5.37% 17.3%
2006 2.06% 10%
2005 4.84% 13.4%
2004 14.2% 14.8%
2003 17% 16.5%
2002 8.61% 14.3%
2001 4.49% 11.3%
2000 0.84% 14.5%
1999 3.81% 20.1%
1998 1.11% 17.9%
1997 2.78% 17.3%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/gambia/iran | CC BY

Over the past 28 years, the Gambia has recorded an average annual inflation rate of 6.75%, compared with 21.6% in Iran. In 2024, inflation was 11.6% in the Gambia and 32.5% in Iran.

Top exports between countries

Gambia
Export category Export value
Iran
Export category Export value
Processed food, beverages & tobacco $49K

Balance of trade

Gambia Iran
Current account balance
-$99.8M
2024
$12.5B
2000
Current account balance ranking
88/190
2024
22/190
2000
Current account balance, % of GDP
-4.15%
2024
+11.4%
2000
Goods imports
$1.39B
2024
$15.2B
2000
Goods exports
$363M
2024
$28.3B
2000
Service imports
$161M
2024
$2.3B
2000
Service exports
$485M
2024
$1.38B
2000
Imports of goods and services, % of GDP
33.4%
2024
28.5%
2024
Exports of goods and services, % of GDP
8.75%
2024
23.6%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Gambia Iran
Economic freedom 56.3 41.8
Economic freedom ranking 123/197 185/197
Property rights 55.4 20.2
Government integrity 40.5 16.2
Judicial effectiveness 45.8 18.7
Tax burden 79.2 81.3
Government spending 81.1 94.7
Fiscal health 54.8 83.3
Business freedom 50.1 37.4
Labor freedom 46.4 41.8
Monetary freedom 57.3 42.2
Trade freedom 64.8 55.8
Investment freedom 50 5
Financial freedom 50 5

Economic freedom comparison by year

Gambia
Iran
1x
Year Economic freedom index
Gambia Iran
2026 56.3 41.8
2025 56.8 42.5
2024 58.2 41.2
2023 57.9 42.2
2022 58 42.4
2021 58.8 47.2
2020 56.3 49.2
2019 52.4 51.1
2018 52.3 50.9
2017 53.4 50.5
2016 57.1 43.5
2015 57.5 41.8
2014 59.5 40.3
2013 58.8 43.2
2012 58.8 42.3
2011 57.4 42.1
2010 55.1 43.4
2009 55.8 44.6
2008 56.9 45
2007 57.7 45
2006 57.3 45
2005 56.5 50.5
2004 55.3 42.8
2003 56.3 43.2
2002 57.7 36.4
2001 56.6 35.9
2000 52.7 36.1
1999 52.1 36.8
1998 53.4 36
1997 52.9 34.5
1996 - 36.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/gambia/iran | CC BY

The Economic Freedom Index for the Gambia is 56.3, ranking 123/197, compared to 41.8 for Iran, ranking 185/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Gambia Iran
Services, % of GDP
56.8%
2024
49.8%
2024
Industry, % of GDP
15.3%
2024
36.1%
2024
Agriculture, forestry, and fishing, % of GDP
20.4%
2024
10.8%
2024
GNI, Atlas method
$2.43B
2024
$469B
2024
GNI per capita, PPP
$3,430
2024
$19,820
2024
Total reserves including gold
$629M
2024
$7.69B
1982
Total reserves ranking
151/177
2024
85/177
1982
Net foreign direct investment
-$232M
2024
-$39M
2000
Net inflows of foreign direct investment
$232M
2024
$1.45B
2024
Net outflows of foreign direct investment
-$665K
2024
$89.4M
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
0.08%
2024
Poverty at national poverty lines
53.4%
2020
18.7%
2020
Gross capital formation, % of GDP
29.9%
2024
44.3%
2024

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/iran | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  9. TradeMap (2023, retrieved 2026-02-08)

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.