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%.
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.
The Gambia GDP from 1980 to 2024
The total market value of goods and services produced annually in The Gambia.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 606M | $ 1,007.79 | $ 1,204.57 | $ 724M | 0.705 % | -19.388 % | 0 % | 0 % | 601,000 people |
1981 | $ 579M | $ 907.55 | $ 1,123.60 | $ 717M | -9.523 % | -5.978 % | 6.08 % | 0 % | 638,000 people |
1982 | $ 548M | $ 827.98 | $ 1,389.29 | $ 919M | 20.759 % | -1.162 % | 9.28 % | 0 % | 662,000 people |
1983 | $ 551M | $ 800.70 | $ 1,575.84 | $ 1B 85M | 13.518 % | -0.649 % | 8.68 % | 0 % | 688,000 people |
1984 | $ 396M | $ 552.84 | $ 1,449.04 | $ 1B 38M | -7.62 % | -3.368 % | 6.80 % | 0 % | 716,000 people |
1985 | $ 482M | $ 645.90 | $ 1,488.53 | $ 1B 110M | 3.649 % | -1.297 % | 7.46 % | 0 % | 746,000 people |
1986 | $ 376M | $ 484.26 | $ 1,493.31 | $ 1B 159M | 2.364 % | -0.383 % | 6.12 % | 0 % | 776,000 people |
1987 | $ 504M | $ 623.61 | $ 1,511.36 | $ 1B 221M | 2.8 % | -0.839 % | 7.29 % | 0 % | 808,000 people |
1988 | $ 585M | $ 695.35 | $ 1,528.77 | $ 1B 286M | 1.702 % | 1.636 % | 8.12 % | 0 % | 841,000 people |
1989 | $ 614M | $ 701.79 | $ 1,592.40 | $ 1B 394M | 4.331 % | 0.844 % | 8.11 % | 0 % | 875,000 people |
1990 | $ 721M | $ 790.83 | $ 1,677.48 | $ 1B 529M | 5.696 % | -1.075 % | 7.40 % | 0 % | 911,000 people |
1991 | $ 760M | $ 801.58 | $ 1,702.12 | $ 1B 614M | 2.163 % | -0.064 % | 7.76 % | 0 % | 948,000 people |
1992 | $ 820M | $ 830.59 | $ 1,702 | $ 1B 680M | 1.763 % | -0.046 % | 8.07 % | 0 % | 987,000 people |
1993 | $ 878M | $ 840.41 | $ 1,709.06 | $ 1B 786M | 3.833 % | -1.881 % | 6.63 % | 0 % | 1M 44K people |
1994 | $ 870M | $ 804.33 | $ 1,629.77 | $ 1B 762M | -3.398 % | -1.129 % | 6.40 % | 0 % | 1M 81K people |
1995 | $ 909M | $ 815.29 | $ 1,667.21 | $ 1B 859M | 3.32 % | -1.742 % | 9.35 % | 0 % | 1M 115K people |
1996 | $ 949M | $ 826.19 | $ 1,696.18 | $ 1B 948M | 2.906 % | -5.548 % | 5.40 % | 0 % | 1M 148K people |
1997 | $ 983M | $ 818.81 | $ 1,673.98 | $ 2B 9M | 1.417 % | -0.493 % | 3.26 % | 0 % | 1M 201K people |
1998 | $ 1B 8M | $ 815.33 | $ 1,748.09 | $ 2B 164M | 6.5 % | -0.999 % | −0.19 % | 0 % | 1M 238K people |
1999 | $ 1B 36M | $ 811.26 | $ 1,828.65 | $ 2B 335M | 6.399 % | -1.18 % | 0.16 % | 0 % | 1M 277K people |
