Gambia ranks among top ten African countries with strongest import cover

The Gambia has been recognized as one of the top ten African countries with the strongest import cover, thanks to the Barrow government’s political will and liberal economic policies. This achievement was highlighted in the African Export-Import Bank’s (Afreximbank) African Trade Report 2024, as reported by African Business Insider on September 11, 2024.

The report attributes this significant development to The Gambia’s dedicated implementation of the African Continental Free Trade Area (AfCFTA), along with increased tourist arrivals, enhanced capital inflows, remittances, green energy initiatives, climate adaptation, and international financing efforts.

Import cover is a critical benchmark that measures a nation’s ability to finance its imports through foreign reserves without relying on external assistance for up to five months. Despite facing limited resources within a challenging global landscape, The Gambia has demonstrated remarkable resilience in maintaining its import cover, placing it among the continent’s top performers.

This recognition from Afreximbank underscores the Gambian government’s commitment to implementing the progressive

Recovery-Focused National Development Plan and related reforms aimed at benefiting all citizens.