Strong Demand Outlook
The Gambia has a growing domestic market and access to a large regional market.
Agriculture is expected to be a $1tn opportunity by 2030 in Africa
Driven by a steady increase in the continent’s population, rapid
urbanization, and a burgeoning middle class, the agricultural sector in Africa is expected to eclipse $1 trillion by 2030.
AfDb, in particular, is investing over $25bn over a ten-year time frame to help usher in agricultural transformation and economic modernization across Africa.
Resilient Domestic Market
The Agribusiness sector is the among the most significant, contributing to over 30% of GDP
The agribusiness sector plays a vital role in The Gambia’s economy employing more than three-quarters of the country’s workforce and accounting for approximately one-fourth of GDP. It is also a key source of foreign-exchange earnings.
Output in the agricultural sectors is growing steadily and additional investment is needed to meet domestic food production needs.
Import Substitution Opportunity
High import volumes for the agriculture sector and domestic production capabilities represent an import substitution opportunity
In 2019, the value of The Gambia’s exports were $376.9 million and the value of The Gambia’s imports were $637.3 million.
Such large-scale imports, particularly in the agribusiness sector, represents a significant opportunity for import substitution through growth of the domestic agriculture sector.
Source: AfDb, GIEPA, World Bank, International Trade Administration
The Gambia’s agricultural demand prospects are robust and on a steady upward trajectory.
The population of The Gambia has, on average, grown by 3% on an annual basis between 2010 and 2020. With an increasing population, rapid urbanization (63% as of 2020), and a growing tourism market, the country‘s demand trajectory is strong and is reflected in its value added for agriculture which has risen by 44% between 2014 and 2019.
Source: World Bank, Knoema.