• Analysis and Studies
• Gambia: a look at the market

Economic Overview of The Gambia (2022)

In 2022, The Gambia ranked as the 193rd largest economy globally in terms of total exports and 175th in total imports. Despite its modest economic scale, the country engages actively in international trade, leveraging its natural resources and geographic location.

Exports

The Gambia's export portfolio is dominated by agricultural and natural resource products. Leading the list are Coconuts, Brazil Nuts, and Cashews, which accounted for $35.4 million in export value. Other significant exports include Sawn Wood ($17.4M), Scrap Iron ($15.5M), Rough Wood ($14.8M), and Molluscs ($14.7M).

These products are primarily shipped to India ($52.9M), China ($38.7M), Italy ($11.6M), Chile ($11.1M), and Portugal ($9.02M). This export composition reflects The Gambia's reliance on raw materials and unprocessed goods for its trade revenues.

Imports

On the import side, The Gambia demonstrates a dependence on essential commodities and textiles. The leading imports include Light Pure Woven Cotton ($140M), Rice ($73.6M), Raw Sugar ($72.5M), Poultry Meat ($58.5M), and Palm Oil ($55.3M). These imports underscore the nation’s need to satisfy domestic consumption and industrial requirements.

The main import partners are China ($454M), Senegal ($177M), India ($122M), Brazil ($113M), and United States ($66.3M). China's dominance as a trading partner suggests strong ties in textiles and manufactured goods, while Senegal's proximity facilitates regional trade flows.

Geographic Context

The Gambia’s location plays a pivotal role in shaping its trade dynamics. Bordered by Senegal on land and Cape Verde by sea, the country benefits from access to regional markets and maritime trade routes. This geographic positioning makes The Gambia a strategic hub for trade within West Africa, despite its economic constraints.

Analysis

The Gambia’s economy illustrates the challenges and opportunities of a small, resource-dependent nation. While its exports rely heavily on raw and agricultural products, the country’s dependence on imports for basic goods highlights a structural imbalance. Strengthening local industries, diversifying exports, and improving trade infrastructure could enhance The Gambia's economic resilience and global trade position.

Summary: Gambia's Economic Complexity and Export Potential

Specialized Products:

Gambia shows a high level of specialization (measured by the RCA Index) in:

• Fish Oil (489 RCA)
• Coconuts, Brazil Nuts, and Cashews (473 RCA)
• Ground Nut Oil (261 RCA)
• Molluscs (159 RCA)
• Niobium, Tantalum, Vanadium, and Zirconium Ore (147 RCA)
• RCA quantifies how much a country exports a product compared to global expectations.

 Complex Products:

Gambia's most complex exports (measured by the Product Complexity Index, PCI) include:

• Machinery for rubber or plastics manufacturing (PCI 1.71)
• Metal-pickling preparations and soldering fluxes (PCI 1.65)
• Navigational instruments like compasses (PCI 1.45)
• Machine tools for drilling or threading (PCI 1.17)
• Natural polymers and modified natural polymers (PCI 0.85)

PCI gauges the knowledge intensity behind exported products.

 Export Opportunities:

According to the relatedness index, Gambia’s top export opportunities lie in:

• Gold (0.087)
• Cocoa Beans (0.08)
• Coffee (0.07)
• Coconut Oil (0.069)
• Palm Oil (0.068)

Relatedness indicates the proximity between Gambia’s current exports and potential new products.

Source: https://oec.world/