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Economy of Gambia vs Lesotho compared: GDP & Debt

Updated on by Georank team

The Gambia has a GDP of $2.4B compared to $2.27B for Lesotho, ranking 174/197 and 175/197 by economy size, respectively.

The Gambia has $1.92B in government debt (80% of GDP), compared to $1.29B (56.8% of GDP) in Lesotho.

Gambia vs Lesotho GDP by year

Gambia
Lesotho
1x
Year GDP, current $
Gambia Lesotho
2024 $2,404,888,749 $2,271,759,455
2023 $2,382,262,185 $2,117,962,445
2022 $2,204,734,528 $2,354,980,960
2021 $2,014,158,842 $2,412,130,057
2020 $1,812,170,891 $2,053,699,864
2019 $1,813,609,692 $2,390,702,296
2018 $1,670,671,328 $2,556,247,292
2017 $1,504,909,463 $2,306,741,672
2016 $1,484,578,886 $2,114,426,452
2015 $1,378,176,609 $2,359,686,725
2014 $1,229,461,721 $2,441,063,054
2013 $1,375,609,453 $2,367,112,932
2012 $1,415,004,738 $2,477,702,216
2011 $1,409,693,597 $2,579,409,620
2010 $1,543,294,927 $2,234,754,242
2009 $1,450,142,509 $1,740,894,965
2008 $1,561,766,956 $1,766,902,709
2007 $1,279,703,047 $1,682,131,785
2006 $1,054,112,488 $1,800,092,564
2005 $1,027,701,068 $1,682,343,527
2004 $961,900,651 $1,511,236,656
2003 $487,038,685 $1,157,825,435
2002 $578,235,309 $775,777,239
2001 $687,410,645 $825,706,961
2000 $782,913,872 $887,291,688
1999 $814,724,032 $912,773,681
1998 $840,285,265 $928,460,893
1997 $803,633,342 $998,004,259
1996 $848,239,446 $946,112,493
1995 $785,999,865 $1,001,894,000
1994 $746,493,952 $878,250,945
1993 $755,040,974 $835,582,062
1992 $714,254,256 $831,029,862
1991 $690,311,081 $704,325,367
1990 $317,083,695 $596,410,264
1989 $284,120,329 $495,409,233
1988 $266,672,212 $470,395,801
1987 $220,626,484 $402,768,324
1986 $185,646,987 $318,858,423
1985 $225,726,359 $268,629,926
1984 $177,340,880 $333,163,670
1983 $213,448,585 $386,699,309
1982 $216,050,552 $348,741,684
1981 $218,767,743 $434,188,034
1980 $241,083,090 $431,542,537
1979 $207,112,628 $290,134,593
1978 $171,833,086 $266,570,067
1977 $138,093,099 $193,315,048
1976 $112,190,829 $147,660,037
1975 $115,179,719 $149,558,896
1974 $95,796,022 $150,851,317
1973 $75,187,749 $121,188,716
1972 $59,160,569 $80,913,200
1971 $55,728,663 $76,480,285
1970 $52,296,084 $68,739,973
1969 $45,168,072 $65,967,974
1968 $41,160,066 $61,445,975
1967 $46,695,007 $59,261,976
1966 $44,212,081 $56,699,977
1965 - $54,879,978
1964 - $51,939,979
1963 - $47,039,981
1962 - $41,859,983
1961 - $35,699,986
1960 - $34,579,986

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

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

GDP per capita in Gambia vs Lesotho by year

Gambia
GDP per capita

GDP per capita, PPP
Lesotho
GDP per capita

GDP per capita, PPP
1x
Year Current $
Gambia Lesotho
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $871 $3,476 $972 $3,001
2023 $883 $3,289 $916 $2,881
2022 $836 $3,067 $1,030 $2,761
2021 $782 $2,778 $1,067 $2,545
2020 $720 $2,531 $919 $2,559
2019 $738 $2,422 $1,082 $2,568
2018 $696 $2,277 $1,171 $2,632
2017 $643 $2,039 $1,069 $2,619
2016 $650 $2,013 $992 $2,942
2015 $620 $1,990 $1,121 $3,035
2014 $568 $1,934 $1,174 $2,771
2013 $654 $2,007 $1,151 $2,538
2012 $693 $2,065 $1,218 $2,291
2011 $711 $2,064 $1,281 $2,279
2010 $801 $2,267 $1,119 $2,153
2009 $775 $2,177 $879 $2,036
2008 $859 $2,088 $898 $2,064
2007 $725 $1,985 $861 $1,932
2006 $615 $1,931 $925 $1,813
2005 $616 $1,938 $861 $1,681
2004 $593 $1,979 $767 $1,561
2003 $309 $1,850 $583 $1,484
2002 $377 $1,744 $389 $1,385
2001 $460 $1,823 $413 $1,350
2000 $538 $1,731 $443 $1,273
1999 $575 $1,649 $456 $1,199
1998 $610 $1,572 $465 $1,179
1997 $600 $1,544 $502 $1,154
1996 $652 $1,489 $480 $1,103
1995 $622 $1,472 $513 $1,037
1994 $608 $1,473 $456 $995
1993 $635 $1,487 $439 $932
1992 $623 $1,462 $444 $893
1991 $628 $1,440 $382 $830
1990 $301 $1,409 $330 $764
1989 $280.9 - $279 -
1988 $274.9 - $270.4 -
1987 $237 - $236.5 -
1986 $207.7 - $191.4 -
1985 $262.8 - $165.4 -
1984 $214.8 - $211 -
1983 $268.6 - $252 -
1982 $282.1 - $233.9 -
1981 $296 - $299.8 -
1980 $338 - $307 -
1979 $300 - $212.4 -
1978 $257.6 - $200.8 -
1977 $213.8 - $149.9 -
1976 $179.3 - $117.8 -
1975 $189.8 - $123.2 -
1974 $162.6 - $128.7 -
1973 $131.4 - $107 -
1972 $106.5 - $74 -
1971 $103.3 - $72.4 -
1970 $99.8 - $67.4 -
1969 $88.7 - $67.1 -
1968 $83.1 - $64.8 -
1967 $97 - $64.8 -
1966 $94.4 - $64.3 -
1965 - - $64.3 -
1964 - - $62.6 -
1963 - - $58.4 -
1962 - - $53.5 -
1961 - - $47 -
1960 - - $47 -

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

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

The Gambia's GDP per capita is $871, ranking 183/197, compared to $972 in Lesotho, ranking 181/197. Adjusted for purchasing power (GDP per capita PPP), the Gambia ranks 172nd at $3,476, while Lesotho ranks 180th at $3,001.

Economic indicators

Gambia Lesotho
Gross domestic product
$2.4B
2024
$2.27B
2024
GDP rank
174/197
2024
175/197
2024
GDP growth
5.55%
2023-2024
2.85%
2023-2024
GDP per capita
$871
2024
$972
2024
GDP per capita rank
183/197
2024
181/197
2024
GDP per capita, PPP
$3,476
2024
$3,001
2024
GDP per capita PPP rank
172/197
2024
180/197
2024
Government debt
$1.92B
2024
$1.29B
2024
Debt-to-GDP ratio
80%
2024
56.8%
2024
Government debt per person
$697
2024
$552
2024
Government debt per person rank
155/185
2024
164/185
2024
Average annual personal income after taxes
$741
2026
$6,545
2026
Income share by richest 10%
30.5%
2020
32.9%
2017
Income share by poorest 10%
2.6%
2020
1.7%
2017
Government expenditure, % of GDP
25.8%
2024
53.5%
2024
Consumer prices inflation
11.6%
2023-2024
6.11%
2023-2024
Central bank interest rate
17%
2023
6.5%
2025
Unemployment rate
6.48%
2023
18.7%
2024
Population
2902554
2396633

Spending and national debt comparison by year

Gambia
Spending

Debt
Lesotho
Spending

Debt
1x
Year % of GDP
Gambia Lesotho
Government spending Government debt Government spending Government debt
2024 25.8% 80% 53.5% 56.8%
2023 24.9% 80.2% 49.4% 61.5%
2022 24.6% 83.9% 50.8% 64.4%
2021 21.5% 83.1% 53.8% 58%
2020 25.3% 85.9% 54.4% 54.7%
2019 23.9% 83% 53.6% 58.2%
2018 19% 83.6% 51.9% 48.2%
2017 23.6% 87% 50.4% 41%
2016 19.4% 80.7% 54.1% 41.5%
2015 19.6% 69.4% 51.7% 45.8%
2014 19% 71.1% 50.1% 41.5%
2013 17.2% 58.2% 58.4% 41.2%
2012 19.1% 49.5% 58.1% 39.8%
2011 16.5% 49.2% 60.2% 36.2%
2010 14.6% 42.9% 55.3% 33.8%
2009 14.4% 38.9% 66.4% 35.9%
2008 11.6% 39.5% 54.1% 47%
2007 11.2% 38% 48.1% 49.6%
2006 14% 87.3% 43.2% 43.7%
2005 12.9% 82.6% 37.6% 41%
2004 12.4% 81.3% 36.3% 49.4%
2003 9.3% 91.7% 39.8% 52.6%
2002 8.59% 93.9% 41.2% 79.6%
2001 9.68% 75.2% 41.4% 108.7%
2000 9.54% 73.3% 39.3% 88.5%
1999 - - 50.8% 83%
1998 - - 51.4% 79.4%
1997 - - 44.6% 65.7%
1996 - - 41.5% 71.6%
1995 - - 42.1% 62.8%
1994 - - 40.2% 67%
1993 - - 36% 71.2%
1992 - - 35.3% 64.4%
1991 - - 31.3% 11.9%
1990 - - 32.9% 18%
1989 - - 35.8% 112.5%
1988 - - 35.3% 105.2%
1987 - - 40.3% 97.4%
1986 - - 33.2% 92.5%
1985 - - 32.8% 86.3%
1984 - - 26.8% 57.2%
1983 - - 27.2% 56.7%
1982 - - 29.9% 61.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

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

In 2024, the Gambia's government spending was $621M, accounting for 25.8% of its GDP, while Lesotho spent $1.22B, or 53.5% of GDP.

Debt-to-GDP ratio is 80% in the Gambia and 56.8% in Lesotho, ranking 45/185 and 92/185, respectively.

Government deficit by year

Deficit/surplus
Gambia

Lesotho
1x
Year Deficit/surplus, % of GDP
Gambia Lesotho
2024 -4.08% 9.04%
2023 -3.69% 7.31%
2022 -5.72% -6.41%
2021 -4.77% -4.95%
2020 -2.37% 1.18%
2019 -2.75% -5.72%
2018 -3.92% -4.41%
2017 -4.35% -2.02%
2016 -6.22% -9.43%
2015 -5.38% -1.38%
2014 -3.94% 3.16%
2013 -5.11% -2.58%
2012 -2.85% 4.56%
2011 -3.03% -9.85%
2010 -2.93% -1.49%
2009 -1.65% -4.16%
2008 -0.45% 8.1%
2007 0.27% 10.8%
2006 -3.19% 11.6%
2005 -3.33% 4.46%
2004 -1.77% 6.05%
2003 -1.73% 0.89%
2002 0.06% -2.44%
2001 -2.52% -2.76%
2000 -0.09% -0.95%
1999 - -15.3%
1998 - -11.8%
1997 - 0.27%
1996 - 2.11%
1995 - 5.13%
1994 - 5.69%
1993 - 7.55%
1992 - 4.65%
1991 - 9.74%
1990 - 8.78%
1989 - 3.88%
1988 - -1.87%
1987 - -2.85%
1986 - 0.87%
1985 - 1.68%
1984 - 4.82%
1983 - 1.85%
1982 - -2.03%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/gambia/lesotho | 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 Lesotho's surplus of $205M, or 9.04% of GDP.

Over the past 25 years, the Gambia recorded a fiscal deficit in 23 of those years, while Lesotho ran a deficit in 14 years. On average, the Gambia posted an annual deficit equal to 3.02% of GDP, compared to surplus of 0.34% of GDP for Lesotho.

Inflation comparison by year

Inflation
Gambia

Lesotho
1x
Year Consumer prices inflation
Gambia Lesotho
2024 11.6% 6.11%
2023 17% 6.34%
2022 11.5% 8.27%
2021 7.37% 6.05%
2020 5.93% 4.98%
2019 7.12% 5.19%
2018 6.52% 4.75%
2017 8.03% 4.45%
2016 7.23% 6.6%
2015 6.81% 3.22%
2014 5.95% 5.37%
2013 5.7% 4.87%
2012 4.25% 6.05%
2011 4.8% 5.04%
2010 5.05% -2.41%
2009 4.56% -16.9%
2008 4.44% 10.7%
2007 5.37% 8.01%
2006 2.06% 6.07%
2005 4.84% 3.44%
2004 14.2% 5.02%
2003 17% 6.63%
2002 8.61% 33.8%
2001 4.49% -9.62%
2000 0.84% 6.13%
1999 3.81% -
1998 1.11% -
1997 2.78% -

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

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

Over the past 25 years, the Gambia has recorded an average annual inflation rate of 7.25%, compared with 5.13% in Lesotho. In 2024, inflation was 11.6% in the Gambia and 6.11% in Lesotho.

Balance of trade

Gambia Lesotho
Current account balance
-$99.8M
2024
$89.2M
2024
Current account balance ranking
88/190
2024
68/190
2024
Current account balance, % of GDP
-4.15%
2024
+3.93%
2024
Goods imports
$1.39B
2024
$1.67B
2024
Goods exports
$363M
2024
$965M
2024
Service imports
$161M
2024
$415M
2024
Service exports
$485M
2024
$15.4M
2024
Imports of goods and services, % of GDP
33.4%
2024
98.6%
2023
Exports of goods and services, % of GDP
8.75%
2024
42.9%
2023

Economic freedom indices

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

Gambia Lesotho
Economic freedom 56.3 54.9
Economic freedom ranking 123/197 130/197
Property rights 55.4 41.7
Government integrity 40.5 39.6
Judicial effectiveness 45.8 43.6
Tax burden 79.2 76.4
Government spending 81.1 21.3
Fiscal health 54.8 93.5
Business freedom 50.1 50.6
Labor freedom 46.4 57
Monetary freedom 57.3 74.8
Trade freedom 64.8 65.4
Investment freedom 50 55
Financial freedom 50 40

Economic freedom comparison by year

Gambia
Lesotho
1x
Year Economic freedom index
Gambia Lesotho
2026 56.3 54.9
2025 56.8 54.1
2024 58.2 51.9
2023 57.9 51.6
2022 58 48.1
2021 58.8 53.5
2020 56.3 54.5
2019 52.4 53.1
2018 52.3 53.9
2017 53.4 53.9
2016 57.1 50.6
2015 57.5 49.6
2014 59.5 49.5
2013 58.8 47.9
2012 58.8 46.6
2011 57.4 47.5
2010 55.1 48.1
2009 55.8 49.7
2008 56.9 52.1
2007 57.7 53.2
2006 57.3 54.7
2005 56.5 53.9
2004 55.3 50.3
2003 56.3 52
2002 57.7 48.9
2001 56.6 50.6
2000 52.7 48.4
1999 52.1 48.2
1998 53.4 48.4
1997 52.9 47.2
1996 - 47

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

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

The Economic Freedom Index for the Gambia is 56.3, ranking 123/197, compared to 54.9 for Lesotho, ranking 130/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Gambia Lesotho
Services, % of GDP
56.8%
2024
48%
2024
Industry, % of GDP
15.3%
2024
30.9%
2024
Agriculture, forestry, and fishing, % of GDP
20.4%
2024
6.5%
2024
GNI, Atlas method
$2.43B
2024
$2.75B
2024
GNI per capita, PPP
$3,430
2024
$3,580
2024
Total reserves including gold
$629M
2024
$1.01B
2024
Total reserves ranking
151/177
2024
142/177
2024
Net foreign direct investment
-$232M
2024
$12.6M
2024
Net inflows of foreign direct investment
$232M
2024
-$12.6M
2024
Net outflows of foreign direct investment
-$665K
2024
$0
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
4.06%
2024
Poverty at national poverty lines
53.4%
2020
49.7%
2017
Gross capital formation, % of GDP
29.9%
2024
27.2%
2023

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/lesotho | CC BY

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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. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20)
  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.