Remittances from Gambians abroad reached US$638 million in the first nine months of 2025, providing a major boost to the country’s foreign exchange inflows, the Central Bank of The Gambia said on Thursday.
Central Bank Governor Buah Saidy told reporters after the Monetary Policy Committee meeting that private remittances remained a key pillar of the economy, with 24.3 percent coming from the United States.
Saidy said the foreign exchange market “continues to operate smoothly,” as total foreign currency purchases and sales rose to US$2.4 billion between January and September, up from US$2.1 billion a year earlier.
The Gambian dalasi was broadly stable between June and September, appreciating 0.1 percent against the US dollar, though it weakened against other major currencies, falling 4.3 percent against the euro, 1 percent against the British pound and 2.6 percent versus the CFA franc.
External accounts showed modest improvement, the bank reported. The goods trade deficit narrowed to US$698.7 million from US$727.9 million, as exports jumped 22.8 percent to US$309.6 million. Imports rose 2.9% to US$1 billion, driven by electricity, fuel, construction materials and food.
The current account deficit fell to US$66.7 million in the first three quarters of 2025, compared with US$78.7 million in the same period last year. Saidy attributed the improvement to higher tourism earnings, stronger exports and resilient remittance flows.
“Gambia’s Remittances Surge to $638m, Propping Up Economy and Dalasi”stood at US$493.11 million at the end of October, equivalent to 4.4 months of import cover. Saidy said the reserve buffer gives the country a “strong shield” against external shocks.
On the fiscal front, preliminary data showed the overall deficit including grants dropped in the first half of 2025 from D8.6 billion a year earlier, supported by stronger domestic revenue collection. The deficit excluding grants, however, edged up 1.8 percent over the first nine months.
Saidy said the economic outlook remained “resilient,” underpinned by steady remittances, solid reserves and improving government revenue.
