The Gambia's GDP changed from approximately $606M in 1980 to $2B 694M in 2024, showing an overall 344.6% sharply increased during the period.
The lowest GDP was recorded in 1986 at $376M, and the highest in 2024 at $2B 694M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.4%.
For comparison, the average annual growth rate of Senegal was 4.9%, and that of Guinea was 5.5%.
The Gambia GDP from 1980 to 2024
The total market value of goods and services produced annually in The Gambia.
Overview of The Gambia's GDP (1980–2024)
The Gross Domestic Product (GDP) of The Gambia recorded a 344.6% sharply increased from 1980 to 2024.
The average GDP during this period was $1B 135M, and the median was $1B 8M.
GDP fluctuated within a range of $2B 318M, with a standard deviation of $536M 967K.
The average annual change was $37M 855K.
Highest and Lowest GDP Records
- Lowest GDP: 1986, $376M
- Highest GDP: 2024, $2B 694M
- Most Recent GDP: 2024, $2B 694M
Notable Annual GDP Changes
- 2024: Significant increase in GDP
- 1984: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and The Gambia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $1B 806M → $1B 809M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $1B 280M → $1B 450M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $1B 10M → $1B 2M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $983M → $1B 8M
- Outcome: increased
Key Economic Indicators of The Gambia (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 0.705 % | $ 606M | $ 724M | $ 1,007.79 | $ 1,204.57 | 0 % | 601,000 people | -19.388 % | 0 % |
1981 | -9.523 % | $ 579M | $ 717M | $ 907.55 | $ 1,123.60 | 6.08 % | 638,000 people | -5.978 % | 0 % |
1982 | 20.759 % | $ 548M | $ 919M | $ 827.98 | $ 1,389.29 | 9.28 % | 662,000 people | -1.162 % | 0 % |
1983 | 13.518 % | $ 551M | $ 1B 85M | $ 800.70 | $ 1,575.84 | 8.68 % | 688,000 people | -0.649 % | 0 % |
1984 | -7.62 % | $ 396M | $ 1B 38M | $ 552.84 | $ 1,449.04 | 6.80 % | 716,000 people | -3.368 % | 0 % |
1985 | 3.649 % | $ 482M | $ 1B 110M | $ 645.90 | $ 1,488.53 | 7.46 % | 746,000 people | -1.297 % | 0 % |
1986 | 2.364 % | $ 376M | $ 1B 159M | $ 484.26 | $ 1,493.31 | 6.12 % | 776,000 people | -0.383 % | 0 % |
1987 | 2.8 % | $ 504M | $ 1B 221M | $ 623.61 | $ 1,511.36 | 7.29 % | 808,000 people | -0.839 % | 0 % |
1988 | 1.702 % | $ 585M | $ 1B 286M | $ 695.35 | $ 1,528.77 | 8.12 % | 841,000 people | 1.636 % | 0 % |
1989 | 4.331 % | $ 614M | $ 1B 394M | $ 701.79 | $ 1,592.40 | 8.11 % | 875,000 people | 0.844 % | 0 % |
1990 | 5.696 % | $ 721M | $ 1B 529M | $ 790.83 | $ 1,677.48 | 7.40 % | 911,000 people | -1.075 % | 0 % |
1991 | 2.163 % | $ 760M | $ 1B 614M | $ 801.58 | $ 1,702.12 | 7.76 % | 948,000 people | -0.064 % | 0 % |
1992 | 1.763 % | $ 820M | $ 1B 680M | $ 830.59 | $ 1,702 | 8.07 % | 987,000 people | -0.046 % | 0 % |
1993 | 3.833 % | $ 878M | $ 1B 786M | $ 840.41 | $ 1,709.06 | 6.63 % | 1M 44K people | -1.881 % | 0 % |
1994 | -3.398 % | $ 870M | $ 1B 762M | $ 804.33 | $ 1,629.77 | 6.40 % | 1M 81K people | -1.129 % | 0 % |
1995 | 3.32 % | $ 909M | $ 1B 859M | $ 815.29 | $ 1,667.21 | 9.35 % | 1M 115K people | -1.742 % | 0 % |
1996 | 2.906 % | $ 949M | $ 1B 948M | $ 826.19 | $ 1,696.18 | 5.40 % | 1M 148K people | -5.548 % | 0 % |
1997 | 1.417 % | $ 983M | $ 2B 9M | $ 818.81 | $ 1,673.98 | 3.26 % | 1M 201K people | -0.493 % | 0 % |
1998 | 6.5 % | $ 1B 8M | $ 2B 164M | $ 815.33 | $ 1,748.09 | −0.19 % | 1M 238K people | -0.999 % | 0 % |
1999 | 6.399 % | $ 1B 36M | $ 2B 335M | $ 811.26 | $ 1,828.65 | 0.16 % | 1M 277K people | -1.18 % | 0 % |