The Gambian economy is an open-typed economy as measured by export and import ratios to GDP, however as much as 80% of exports consist of re-exports.
With over 250 million consumers in the Economic Community of West African States, Gambia is well-placed as an emerging gateway to markets in both West Africa and Europe.
The River Gambia, from which the country derives its name, is navigable and forms the country's main commercial channel. Trade, transport and tourism contribute to a large share of the country's value, with economic growth in the past three years averaging 6.3%. These factors have contributed to ranking Gambia as one of the high-growth economies in Western Africa (African Economic Outlook, 2011).
The International Monetary Fund (IMF) indicates that the Gambian economy performed well in 2010. The domestic economy grew by 5.5%, boosted by strong growth in agriculture (Central Bank of Gambia).
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