Gambia Import Data

Gambia's Trade Overview and Market Analysis 2023

Trade Landscape

• Pillars of Trade: The Gambia's principal trade allies are Spain, India, and China, with whom it conducts substantial trade.

• Top Imports: Rice, textiles, machinery, and pharmaceuticals are among the top 5 imports, accounting for 80% of total imports.

• Leading Exports: Groundnuts, fish, and re-exported goods form the core of exports, comprising 70% of total exports.

• Trade Balance: The country faces a trade deficit, with imports significantly outweighing exports, a challenge for economic planners.

• Policy Snapshot: The Gambia's trade policies prioritize agricultural exports and seek to diversify import sources to reduce dependency.

Economic Scenario

• Consumer Dynamics: Household spending is robust, with a slight shift towards services and away from goods, indicating evolving consumption patterns.

• Inflation & Monetary Policy: Inflation rates have remained stable, allowing the central bank to maintain interest rates at moderate levels, supporting economic activity.

• Supply Chain Resilience: The Gambia's supply chains have shown resilience in the face of global disruptions, with minimal impact on essential goods.

• Sectoral Performance: The service sector, notably tourism and telecommunications, has shown strong growth, while agriculture and fisheries are stable contributors.

Overall Outlook

The Gambia's economy is poised for growth, buoyed by steady trade relations and a robust service sector. Efforts to diversify exports and manage import costs are crucial for reducing the trade deficit and fostering sustainable development.