Gambia, The: New businesses registered (number)

Key figures

What the numbers say

In 2024, Gambia, The's new businesses registered (number) fell 10.3% on 2023 (from 2,449 to 2,196).

Across the 9 yearly changes before that (2015 to 2023), the average change was +12.4% and a typical year strayed about 46% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 96.9% in 2020 and the biggest yearly fall was 35% in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 178.55 a year. A straight line explains 38% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Gambia, The had the 107th highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Gambia, The in the 2024 ranking

• Honduras — 104th of 127: 2,628
• Gabon — 105th of 127: 2,373
• Madagascar — 106th of 127: 2,206
• Isle of Man — 108th of 127: 1,770
• Fiji — 109th of 127: 1,665
• Guyana — 110th of 127: 1,546

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 11 values

New businesses registered (number) in nearby economies

• Angola — 30,956 (2024)
• Benin — 5,522 (2024)
• Botswana — 21,456 (2024)
• Burkina Faso — 10,046 (2024)
• Burundi — 7,263 (2024)
• Cabo Verde — 7,719 (2024)
• Central African Republic — 258 (2024)
• Chad — 1,391 (2024)
• Comoros — 387 (2024)
• Congo, Dem. Rep. — 6,095 (2024)
• Congo, Rep.

More private sector & trade data for Gambia, The

• Merchandise imports (current US$) — US$894 million (2025)
• Merchandise exports (current US$) — US$514 million (2025)
• Merchandise imports from high-income economies (% of total merchandise imports) — 77.7% (2023)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) — 12.28% (2023)
• Merchandise imports from low- and middle-income economies in East Asia & Pacific (% of total merchandise imports) — 4.77% (2023)
• Merchandise imports from low- and middle-income economies in South Asia (% of total merchandise imports) — 3.84% (2023)
• Merchandise imports from low- and middle-income economies in Sub-Saharan Africa (% of total merchandise imports)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Gambia, The's new businesses registered (number)?

2,196 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2014?

It is up 40.86% from 1,559 in 2014 (3.49% a year on average, compounded). The highest value was 3,703 in 2020 and the lowest 1,013 in 2015.

How does Gambia, The rank?

107th highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for Gambia, The?

In 2024, Gambia, The's new businesses registered (number) fell 10.3% on 2023 (from 2,449 to 2,196). Across the 9 yearly changes before that (2015 to 2023), the average change was +12.4% and a typical year strayed about 46% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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