The Gambia is an independent republic and a former British colony. It is a member of the Commonwealth with English as the official language. The country, with Banjul as its capital city, is located in the northern part of West Africa, with the Atlantic Ocean on the west, and surrounded by Senegal on its southern, eastern and northern borders. 

The Gambian legal system mirrors that of the United Kingdom. There exist the Rule of Law and an independent judiciary for court arbitrations when necessary.

In the country, a free-market enterprise is in operation where the prices of goods and services are dictated by economic forces of demand and supply. The government does not interfere in determining prices.

Major sectors of the Gambian economy include agriculture (24% of GDP), tourism (21%), manufacturing (16%, including mining), as well as financial and other services (49%). 

The current GDP distribution could change with agriculture increasing its dominant position in years to come. With the government’s new policy on promoting farming at an industrial scale, productivity is expected to rise significantly making the country self-sufficient in food production. The setting-up of the African Development Bank (AfDB) funded agricultural transformation, which will further promote the commercialization of the sector.

Other sectors likely to increase their GDP contributions are manufacturing, financial and other services. Tourism is likely to lose ground to other sectors due to its volatility impacted by external factors. The banking and insurance sectors have seen massive growth in recent years. The opportunities to invest in factories continue to grow, making an expansion most likely in the medium to long-term.

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