QUESTION OF THE DAY
The statistics reveal that the Gambia is not an exporting nation. It’s domestic exports fell to approximately 78 Million Dalasis in 2003. Needless to say, from 1994 to date the domestic export never rose above 670 Million Dalasis. This is how matters stand as far as domestic export is concerned. Now let us move to the re-export trade.
The business community has mainly been relying on the re-export trade which requires open borders with Senegal. The re-export trade rose from 56 Million Dalasis in 2003 to 3.6 Billion in 2014.
In the past four years, the re-export trade amounted to 2.4 Billion in 2011; 3.2 Billion in 2012; 3.3 Billion in 2013 and 3.6 Billion in 2014.
Hence from an Economic point of view the Business community in The Gambia is relying more on the re-export trade for foreign exchange earnings. Foroyaa will try to trace the major companies engaged in the re-export trade and find out whether the Government of Senegal is currently restricting any free movement of goods and people, especially when it is taken into consideration that President Macky Sall is the Chairperson of ECOWAS.