[ Nominal GDP in billions of USD ]
Year -
$2.40 billions
The Gambia GDP expanded from 1966 to 2024, increasing from $0.04 billion to $2.40 billion.The compound annual growth rate (CAGR) averaged 7.31% over the period. The economy recorded its peak level in 2024 and its lowest level in 1966. Growth volatility remained high. The maximum drawdown reached 42.35%, indicating the largest cyclical decline from peak levels. The country experienced 11 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 2.40 Billions | $ 9.59 Int Billions |
| Growth (YoY) | 0.95% | 8.104% |
| Net Change vs Previous Year | $ 0.02 Billion | $ 0.72 Int Billion |
| % of World GDP | 0.00% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | 0.04 | - | - | - | - | - |
| 1967 | 0.05 | 0 | 5.616 % | - | - | - |
| 1968 | 0.04 | -0.01 | -11.853 % | - | - | - |
| 1969 | 0.05 | 0 | 9.738 % | - | - | - |
| 1970 | 0.05 | 0.01 | 15.781 % | - | - | - |
| 1971 | 0.06 | 0 | 6.564 % | - | - | - |
| 1972 | 0.06 | 0 | 6.158 % | - | - | - |
| 1973 | 0.08 | 0.02 | 27.091 % | - | - | - |
| 1974 | 0.1 | 0.02 | 27.409 % | - | - | - |
| 1975 | 0.12 | 0.02 | 20.234 % | - | - | - |
| 1976 | 0.11 | 0 | -2.595 % | - | - | - |
| 1977 | 0.14 | 0.03 | 23.088 % | - | - | - |
| 1978 | 0.17 | 0.03 | 24.433 % | - | - | - |
| 1979 | 0.21 | 0.04 | 20.531 % | - | - | - |
| 1980 | 0.24 | 0.03 | 16.402 % | - | - | - |
| 1981 | 0.22 | -0.02 | -9.256 % | - | - | - |
| 1982 | 0.22 | 0 | -1.242 % | - | - | - |
| 1983 | 0.21 | 0 | -1.204 % | - | - | - |
| 1984 | 0.18 | -0.04 | -16.916 % | - | - | - |
| 1985 | 0.23 | 0.05 | 27.284 % | - | - | - |
| 1986 | 0.19 | -0.04 | -17.756 % | - | - | - |
| 1987 | 0.22 | 0.03 | 18.842 % | - | - | - |
| 1988 | 0.27 | 0.05 | 20.87 % | - | - | - |
| 1989 | 0.28 | 0.02 | 6.543 % | - | - | - |
| 1990 | 0.32 | 0.03 | 11.602 % | 1.49 | - | - |
| 1991 | 0.69 | 0.37 | 117.706 % | 1.58 | 0.1 | 6.594 % |
| 1992 | 0.71 | 0.02 | 3.468 % | 1.68 | 0.09 | 5.735 % |
| 1993 | 0.76 | 0.04 | 5.71 % | 1.77 | 0.09 | 5.454 % |
| 1994 | 0.75 | -0.01 | -1.132 % | 1.81 | 0.04 | 2.293 % |
| 1995 | 0.79 | 0.04 | 5.292 % | 1.86 | 0.05 | 2.997 % |
| 1996 | 0.85 | 0.06 | 7.919 % | 1.94 | 0.08 | 4.095 % |
| 1997 | 0.8 | -0.04 | -5.259 % | 2.07 | 0.13 | 6.709 % |
| 1998 | 0.84 | 0.04 | 4.561 % | 2.16 | 0.1 | 4.663 % |
| 1999 | 0.81 | -0.03 | -3.042 % | 2.34 | 0.17 | 7.906 % |
| 2000 | 0.78 | -0.03 | -3.904 % | 2.52 | 0.18 | 7.89 % |
| 2001 | 0.69 | -0.1 | -12.198 % | 2.73 | 0.21 | 8.182 % |
| 2002 | 0.58 | -0.11 | -15.882 % | 2.68 | -0.05 | -1.747 % |
| 2003 | 0.49 | -0.09 | -15.772 % | 2.92 | 0.24 | 8.98 % |
| 2004 | 0.96 | 0.47 | 97.5 % | 3.21 | 0.29 | 9.929 % |
| 2005 | 1.03 | 0.07 | 6.841 % | 3.23 | 0.02 | 0.71 % |
| 2006 | 1.05 | 0.03 | 2.57 % | 3.31 | 0.08 | 2.511 % |
| 2007 | 1.28 | 0.23 | 21.401 % | 3.51 | 0.19 | 5.835 % |
| 2008 | 1.56 | 0.28 | 22.041 % | 3.8 | 0.29 | 8.303 % |
| 2009 | 1.45 | -0.11 | -7.147 % | 4.07 | 0.28 | 7.324 % |
| 2010 | 1.54 | 0.09 | 6.424 % | 4.37 | 0.29 | 7.195 % |
| 2011 | 1.41 | -0.13 | -8.657 % | 4.1 | -0.27 | -6.235 % |
| 2012 | 1.42 | 0.01 | 0.377 % | 4.22 | 0.12 | 3.018 % |
| 2013 | 1.38 | -0.04 | -2.784 % | 4.22 | 0 | 0.076 % |
| 2014 | 1.23 | -0.15 | -10.624 % | 4.19 | -0.04 | -0.859 % |
| 2015 | 1.38 | 0.15 | 12.096 % | 4.43 | 0.24 | 5.781 % |
| 2016 | 1.48 | 0.11 | 7.721 % | 4.6 | 0.17 | 3.816 % |
| 2017 | 1.5 | 0.02 | 1.369 % | 4.78 | 0.18 | 3.897 % |
| 2018 | 1.67 | 0.17 | 11.015 % | 5.47 | 0.69 | 14.436 % |
| 2019 | 1.81 | 0.14 | 8.556 % | 5.95 | 0.48 | 8.87 % |
| 2020 | 1.81 | 0 | -0.079 % | 6.37 | 0.42 | 7.009 % |
| 2021 | 2.01 | 0.2 | 11.146 % | 7.16 | 0.79 | 12.389 % |
| 2022 | 2.2 | 0.19 | 9.462 % | 8.09 | 0.93 | 13.014 % |
| 2023 | 2.38 | 0.18 | 8.052 % | 8.87 | 0.79 | 9.728 % |
| 2024 | 2.4 | 0.02 | 0.95 % | 9.59 | 0.72 | 8.104 % |
Between 1966 to 2024, The Gambia experienced the following economic phases:
The most remarkable growth occurred in 1991 with an increase of 117.706%, while the largest decline was in 1986 at -17.756%.