Page 9 - Economic transformation

illustrates that between 2000 and 2010, the trend in the PPP GDP of The Gambia and

that of Guinea were largely similar. However, things changed in 2011 when the PPP GDP

of Guinea overtook that of The Gambia, and this remained unchanged as of 2017.

Figure 5: Comparison of GDP- Gambia, Guinea, Lesotho and Senegal growth
(2000 to 2017)

Source: IMF World Economic Outlook 2018 database (2011 PPP US$)

The second biggest contributor to the GDP is agriculture, forestry and fisheries

sector which has gradually declined from accounting for nearly a third (32 percent) of

GDP in 2004 and was estimated to account for slightly over a third (21 percent) of GDP.

Population growth rate affects the outcomes of economic growth

Demographic trends and context also affect the outcomes of economic growth.

Population growth rates are particularly important in this regard. The estimated

population growth rate in The Gambia is estimated at 2.9 percent in 2020. It is the

country’s lowest estimated population growth rate since 1988 and the last time the

country registered growth rates equal to the current African average of 2.7 percent was

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