Development
Text Box: Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. Reexport trade normally constitutes a major segment of economic activity, but the 50% devaluation of the CFA franc in January 1994 made Senegalese goods more competitive and hurt the reexport trade. The Gambia has benefited from a rebound in tourism in 1996 after its decline in response to the military's takeover in July 1994. Short-run economic progress remains highly dependent on sustained bilateral and multilateral aid and on government willingness to reduce intervention in market processes. GDP: purchasing power parity - $1.1 billion (1995 est.) GDP - real growth rate: 2% (1995 est.) GDP - per capita: purchasing power parity - $1,100 (1995 est.) GDP - composition by sector: agriculture: 27% industry: 15% services: 58% (1993 est.) Inflation rate - consumer price index: 7% (1995 est.) Labor force: total: 400,000 (1986 est.) by occupation: agriculture 75.0%, industry, commerce, and services 18.9%, government 6.1% Unemployment rate: NA% Budget: revenues: $88.6 million expenditures: $98.2 million, including capital expenditures of $NA (FY96/97 est.) Industries: processing peanuts, fish, and hides; tourism; beverages; agricultural machinery assembly, woodworking, metalworking; clothing Industrial production growth rate: NA% Electricity - capacity: 30,000 kW (1995) Electricity - production: 65 million kWh (1991) Electricity - consumption per capita: 74 kWh (1991 est.) Agriculture - products: peanuts, millet, sorghum, rice, corn, cassava (tapioca), palm kernels; cattle, sheep, goats; forest and fishing resources not fully exploited Exports: total value : $127 million (f.o.b., 1995 est.) commodities: peanuts and peanut products 70%, fish, cotton lint, palm kernels partners: Japan, Senegal, Hong Kong, France, Switzerland, UK, Indonesia Imports: total value: $201 million (c.i.f., 1995 est.) commodities: foodstuffs, manufactures, raw materials, fuel, machinery and transport equipment partners: China, Cote d'Ivoire, France, UK, Germany Debt - external: $419 million (1994 est.) Economic aid: recipient: bilateral $36.1 million; multilateral $34.7 million (1994) Currency: 1 dalasi (D) = 100 butut Exchange rates: dalasi (D) per US$1 - 9.875 (November 1996), 9.546 (1995), 9.576 (1994), 9.129 (1993), 8.888 (1992)

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