Business (G) 22 hours ago 0

The USA is the Largest Source of Remittances to Gambia

In early 2025, the U.S. accounted for 26.3% of Gambia’s remittances, boosting private inflows to US$207.9 million, stabilizing the dalasi, and reducing the current account deficit, though a high trade deficit persists due to fuel and food imports.

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The United States is the largest source of remittances sent home by Gambians abroad, accounting for 26.3% of all remittances in early 2025.

The Central Bank of The Gambia reported that total foreign currency transactions increased to US$670.1 million, up from US$600.9 million the previous year.

Private remittance inflows increased to US$207.9 million in the first quarter of 2025, compared to US$187.2 million in the last quarter of 2024.

The dalasi was stable primarily, losing 1.7% in value against the US dollar but gaining 1.2% against the euro.

The current account improved, thanks to more income from tourism and steady remittances. The deficit was reduced from US$21.1 million to US$13.2 million.

The trade deficit also decreased from US$297.1 million to US$248.1 million, but it remains high due to significant imports of fuel, electricity, and food.