Gambia’s Remittance Hits $ 774.6 M, Accounting for 69.2% of GDP Amidst the COVID-19 Surge

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By Sarjo Brito

Amidst the COVID-19 upsurge, The Central Bank of The Gambia has during the ‘5th Stake in the Nation Forum’ held at the Sir Dawda Kairaba Jawara Conference Centre on January 8th, 2022, announced that diaspora remittance inflows to the Gambia hit an all-time high to the tune of $774.6 Million, Accounting for 69.2% of the country’s gross domestic product (GDP).

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Presenting the data at the high-profile event, the Deputy Governor of the Central Bank of The Gambia Dr. Seeku Jaabi acknowledged the contribution of remittance towards the country’s economy and its impact on the lives and livelihoods of the average Gambian.
Dr. Jaabi said despite the global pandemic, Gambians in the diaspora continue to pump money into the economy.

“In 2021 remittance reached 774.6 million USD, 62.9% of our GDP. Despite the challenges of the coronavirus, diaspora Gambians have not relented in supporting their families and enhancing development aspirations of the motherland,” Dr. Jaabi said.

Diaspora contribution to the economy of The Gambia has significantly increased over the years. Between 2017-2018, a Gambian Diaspora Strategy was developed and implemented in Gambia’s National Development Plan 2018-2021.

The goal according to the Migration and Sustainable Development Project was to ‘enhance the role of the Gambian diaspora in national development, as the 8th region of the country’.

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