Gambia: Financial openness
* indicates monthly or quarterly data series
| Gambia |
Financial openness index |
|---|---|
| Latest value | 2.290 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1971 - 2022 |
| Average | 0.919 |
| Min - Max | -1.935 - 2.290 |
| Source | Chinn-Ito Index |
The latest value from 2022 is 2.29 index points, unchanged from 2.29 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for the Gambia from 1971 to 2022 is 0.919 index points. The minimum value, -1.935 index points, was reached in 1981 while the maximum of 2.29 index points was recorded in 1995.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 100.30 | 2023 | percent |
| Trade openness | 43.74 | 2024 | percent |
| Financial openness | 2.290 | 2022 | index points |
| Exports, percent of GDP | 6.55 | 2024 | percent |
| Exports, billion dollars | 0.16 | 2024 | billion U.S. dollars |
| Growth of exports | 18.40 | 2024 | percent |
| Imports, percent of GDP | 37.19 | 2024 | percent |
| Imports, billion dollars | 0.93 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 9.27 | 2024 | percent |
| Foreign Direct Investment, billion dollars | 0.23 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 1994 | million dollars (current) |
| Current account, percent of GDP | -7.60 | 2023 | percent |
| Current account, in dollars | -0.07 | 2024 | billion U.S. dollars |
| Trade balance, percent of GDP | -30.64 | 2024 | percent |
| Trade balance, in dollars | -0.71 | 2024 | billion U.S. dollars |
| Reserves | 0.58 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 26.82 | 2023 | percent |
| Remittances | 528.77 | 2024 | million U.S. dollars |
| Net errors and omissions | -244.65 | 2023 | million USD |
| External debt | 56.02 | 2023 | percent |
| Short-term external debt | 6.89 | 2023 | percent |
| Short-term debt to reserves | 15.83 | 2023 | percent |