The Gambia Bureau of Statistics has shown that the country’s Gross Domestic Product (GDP) has grown from D62.1 billion in 2020 to D64.8 billion in 2021.
The newest survey was revealed to the press on Tuesday at the GBoS head office.
The Statistician General, Nyakassi Sanyang said the Gross Domestic Product for the year 2021 is estimated at a growth of 4.3 percent compared to the 2020 revised growth of 0.6 percent, showing an increase of 3.7 percent.
“In 2021, GDP at constant market price is estimated at 44.8 billion dalasis compared to the revised estimate of 62.1 billion dalasis in 2020. This increase is mainly attributed to the recovery from the negative effects of the global Covid-19 pandemic which resulted in an increase in the economic activities in industries within the agriculture, industries, and services sectors.”
He added that GDP at the current market price is estimated at 104.9 billion dalasis in 2021 compared to the revised estimate of 93.3 billion dalasis in 2020. GDP per capita is GDP 44,696 which is equivalent to US$867 in 2020. “The services sector continues to be major contributor to GDP with a share of 57.5 percent followed by the agriculture sector with a share of 24.1 percent and the industry sector with a share of 18.4 percent.”
He further revealed that for the agriculture sector, it is estimated at a growth of 4.7 percent compared to the revised growth of 10.6 percent in 2020, showing a decline of 5.9 percent.
“This decline is mainly attributed to the decrease in the production activities of crop registering a growth of -9.6 percent.
“The industry sector registered a growth of 10.4 percent in 2021, which is 2.2 percent more than the revised growth rate in 2020.
The increase in growth in this sector is a result of an increase in the economic activities of construction, registering a growth of 20.5 percent, and electrical supply registering a growth of 7.0 percent.
“The service sector is estimated at a growth of 1.9 percent in 2021 as against the revised growth of -5.0 percent in 2020, showing an increase of 6.9 percent. This increase is mainly attributed to the recovery from the negative effects of the global Covid-19 pandemic which increase the economic activities in arts, entertainment, and recreation with a growth of 33.7 percent; accommodation and food service activities with a growth of 20.2 percent; finance and insurance activities with a growth of 6.5 percent; and other service activities with a growth of 6.4 percent.”