Trade Profile

flag Gambia Gambia: Trade Profile

Foreign Trade in Figures

With a liberal economy, Gambia is open to foreign trade, which represents around 42% of its GDP (World Bank, latest data available). The country is a member of the World Trade Organisation and of the ECOWAS. It has set a favourable regulation for trade with low customs duties. Its re-exportation activities, which represent a significant part of its foreign trade, are supported by its ports’ efficiency and trade policy. There is, however, low transparency on its customs duties’ calculation. The Gambia Revenue Authority (GRA) collects excise duties on locally manufactured products (per unit). Gambia’s main exports are petroleum oils (45.7%), rye (14.1%), groundnuts (7.7%), coconuts, brazil nuts, and cashew nuts (5.6%), and machine tools (5.2%); whereas imports are led by petroleum oils (38.2%), motor cars (9.8%), rice (5.4%), fixed vegetable fats and oils (3.0%), and cement (2.7% - latest data by Comtrade).

According to Comtrade, Gambia exports its goods mainly to Mali (44.7% of total exports), China (29.1%), Senegal (10.9%), Guinea-Bissau (4.5%), and India (3.7%), importing chiefly from Togo (25.5%), Ivory Coast (12.4%), China (7.6%), Denmark (6.0%), and India (5.6%).

The Gambia’s trade balance is structurally negative. According to WTO data, in 2022 The Gambia imported USD 694 million worth of goods while it exported only USD 40 million worth of goods. The World Bank estimated the country’s trade balance in goods and services to be negative by 26.2% of GDP in 2022 (compared to 29.1% one year earlier).

 
Foreign Trade Indicators 20192020202120222023
Imports of Goods (million USD) 621582607694784
Exports of Goods (million USD) 13361334040
Imports of Services (million USD) 1081091191360
Exports of Services (million USD) 2061061102160
Imports of Goods and Services (Annual % Change) -061311n/a
Exports of Goods and Services (Annual % Change) -6-206-0n/a
Trade Balance (million USD) -378-512-576n/an/a
Foreign Trade (in % of GDP) 53484235n/a
Imports of Goods and Services (in % of GDP) 34383631n/a
Exports of Goods and Services (in % of GDP) 191065n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

Return to top

Main Partner Countries

Main Customers
(% of Exports)
2021
Mali 44.7%
China 29.1%
Senegal 10.9%
Guinea-Bissau 4.5%
India 3.7%
See More Countries 7.2%
Main Suppliers
(% of Imports)
2021
Togo 25.5%
Ivory Coast 12.4%
China 7.6%
Denmark 6.0%
India 5.6%
See More Countries 42.9%

Source: Comtrade, Latest Available Data

Return to top

 

Main Products

0.0 bn USD of products exported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 45.7%
RyeRye 14.1%
Groundnuts, whether or not shelled or broken (excl...Groundnuts, whether or not shelled or broken (excl. roasted or otherwise cooked) 7.7%
Coconuts, brazil nuts and cashew nuts, fresh or...Coconuts, brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled 5.6%
Machine tools, incl. machines for nailing,...Machine tools, incl. machines for nailing, stapling, glueing or otherwise assembling, for working wood, cork, bone, hard rubber, hard plastics or similar hard materials (excl. machines for working in the hand) 5.2%
See More Products 21.7%
0.7 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 38.2%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 9.8%
RiceRice 5.4%
Fixed vegetable fats and oils, incl. jojoba oil,...Fixed vegetable fats and oils, incl. jojoba oil, and their fractions, whether or not refined, but not chemically modified (excl. soya-bean, groundnut, olive, palm, sunflower-seed, safflower, cotton-seed, coconut, palm kernel, babassu, rape, colza and mustard oil) 3.0%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured 2.7%
See More Products 40.8%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import-Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

Return to top

Commercial Policy

International Economic Cooperation
Member of the World Trade Organization (WTO)
Member of African Union (AU)

Member of Economic Community of West African States (ECOWAS)

Member of South Atlantic Peace and Cooperation Zone

Assessment of Commercial Policy
Country’s commercial policy
Average Customs Duty (Excluding Agricultural Products)
 
 
 
 

Return to top

Any Comment About This Content? Report It to Us.

 

© eexpand, All Rights Reserved.
Latest Update: May 2024