The Gambia is one of the smallest countries on the African mainland, bordered by Senegal, with a population of approximately 2.7 million (2024 estimate). It ranks 174th out of 193 countries on the United Nations Human Development Index (HDI), Its economy is primarily agrarian, but tourism is also a major industry, followed by fisheries and a fast-growing financial services sector.
In 2024, The Gambia’s economy is expected to grow at an average rate of 4-5% annually, with significant growth in the construction, telecoms, and financial services sectors. Remittances from the large Gambian diaspora continue to play a crucial role in the economy. Inflation is around 7.5% as of late 2023. The Gambia ranks 106th out of 180 countries on Transparency International’s 2023 Corruption Perceptions Index, reflecting improvements in governance and transparency.
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