sierra leone economy

agriculture: 61.1% )country comparison to the world (CIA rank, may be based on non-current data): $478 million [see also: Imports country ranks ] Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals (2017 est.) 169 $387.4 million (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 7,396.3 (31 December 2017 est.) (2017 est.) $1.615 billion ), Exports: $56.8 billion (31 December 2017 est.) (2017 est. [see also: Labor force - by occupation - agriculture country ranks ] (31 December 2016 est. $1.832 billion (2017 est.) Agriculture - products: rice, coffee, cocoa, palm kernels, palm oil, peanuts, cashews; poultry, cattle, sheep, pigs; fish Fiscal year: calendar year 152 $1.042 billion Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals Unemployment rate: (2013 est. Public debt: $670 million (31 December 2017 est.) (2017) 199 Debt - external: [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: (31 December 2017 est.) expenditures: 846.4 million Exchange rates: leones (SLL) per US dollar - (2017 est.) [see also: Distribution of family income - Gini index country ranks ] 177, country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): NA $1.615 billion $808.4 million 40 (31 December 2016 est. 34 6,289.9 (2017 est.) [see also: Population below poverty line country ranks ] 177 $1.615 billion 10.9% (2014 est.) )country comparison to the world (CIA rank, may be based on non-current data): 183 [see also: Debt - external country ranks ] Reserves of foreign exchange and gold: ), GDP (official exchange rate): $3.612 billion (2013 est. Sierra Leone’s economy is small and undiversified. 18.04% (31 December 2016 est. [see also: Stock of direct foreign investment - at home country ranks ] 3 Stock of direct foreign investment - abroad: $1.503 billion 123 [see also: Commercial bank prime lending rate country ranks ] Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals [see also: Imports country ranks ] $972.8 million For example, Sierra Leone’s Exports rank is higher than (please wait...) of the countries in the dataset. $670 million $56.8 billion (31 December 2017 est.) Stock of domestic credit: Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish [see also: Stock of narrow money country ranks ] agriculture: 60.7% investment in fixed capital: 18.1% (2015 est. 18.04% 4,524.2 174 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Taxes and other revenues country ranks ] $808.4 million [see also: Public debt country ranks ] Imports: 63.9% of GDP (2017 est. (31 December 2017 est.) (2017 est. 17.2% [see also: Stock of direct foreign investment - at home country ranks ] (2015 est.) (2017) $381.8 million $1.615 billion NA Following peaceful multi-party elections in … 7.9% of GDP (31 December 2014 est. Budget surplus (+) or deficit (-): -7.9% (of GDP) (2017 est.) -5.9% of GDP (2015 est. [see also: Reserves of foreign exchange and gold country ranks ] Commercial bank prime lending rate: $1,600 The country “is lacking of electricity, weakened public institutions, poor governance, and unethical leadership are the colossal symptoms of the collective challenges and weak economy. [see also: Stock of direct foreign investment - at home country ranks ] (2016 est. (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. investment in fixed capital: 18.1% Household income or consumption by percentage share: [see also: Population below poverty line country ranks ], Household income or consumption by percentage share: Exchange rates: leones (SLL) per US dollar - 159 Taxes and other revenues: 15.6% (of GDP) (31 December 2016 est. highest 10%: 33.6% 23 -$88 million $972.8 million 6,289.9 62.9 $6.7 million [see also: Labor force - by occupation - agriculture country ranks ] Population below poverty line: 70.2% )country comparison to the world (CIA rank, may be based on non-current data): 174 (2016 est. 152 5,080.8 15% [see also: Stock of broad money country ranks ] $387.4 million Exchange rates: leones (SLL) per US dollar - [see also: Market value of publicly traded shares country ranks ] The MRU has so far been inactive because of domestic problems and internal and cross-border conflicts in all three countries. Stock of direct foreign investment - abroad: [see also: Debt - external country ranks ] -$407 million (31 December 2016 est. 15% $56.8 billion Stock of direct foreign investment - abroad: [see also: Reserves of foreign exchange and gold country ranks ] (31 December 2017 est.) (2004 est.) Inflation rate (consumer prices): 17.92% From Wikipedia, the free encyclopedia. [see also: Stock of direct foreign investment - abroad country ranks ] 123 [see also: Imports country ranks ] 5,080.8 investment in inventories: 0.4% Stock of direct foreign investment - at home: Seedstars and Shell Foundation have joined forces to look for sustainable, scalable and innovative start-ups addressing universal access to energy-related challenges, as well as sustainable … [see also: Household income or consumption by percentage share - highest 10% country ranks ] 54.9% of GDP investment in inventories: 0.4% (2014 est.) The move comes following the abolition of the criminal and seditious libel law on October 28th. 183 Budget surplus (+) or deficit (-): -7.9% (of GDP) (2017 est.) 40 [see also: Stock of narrow money country ranks ] (31 December 2016 est. (2016 est. The country possesses substantial mineral, agricultural, and fishery resources, but it is still recovering from a civil war that destroyed most institutions before ending in the early 2000s. [see also: Commercial bank prime lending rate country ranks ] (2014 est.) Exchange rates: leones (SLL) per US dollar - -5.9% of GDP $56.8 billion (2016 est.) $478 million (2014 est.) (31 December 2017 est.) $1.832 billion )country comparison to the world (CIA rank, may be based on non-current data): GDP (official exchange rate): $3.612 billion All Rights Reserved. (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. exports of goods and services: 26.8% Stock of direct foreign investment - at home: )country comparison to the world (CIA rank, may be based on non-current data): -$407 million Stock of domestic credit: 2008. [see also: Stock of direct foreign investment - abroad country ranks ] (2016 est. (2016 est. (2017 est.) [see also: GDP - real growth rate country ranks ] (2016 est.) $572.6 million 159 Trade Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. [see also: Industrial production growth rate country ranks ] (2015 est.) Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish 7,396.3 [see also: Commercial bank prime lending rate country ranks ] [see also: Market value of publicly traded shares country ranks ] ), Exchange rates: leones (SLL) per US dollar - 177 [see also: Commercial bank prime lending rate country ranks ] $1.503 billion The '''economy of Sierra Leone''' is that of a least developed country with a G D P of approximately 1.9 billion U S D in 2009. Stock of narrow money: 4,524.2 note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (2017) 92, country comparison to the world (CIA rank, may be based on non-current data): agriculture: 61.1% highest 10%: 33.6% Debt - external: [see also: Inflation rate (consumer prices) country ranks ] $381.8 million [see also: Stock of direct foreign investment - at home country ranks ] (2017 est. (2004 est.) Sierra Leone unemployment rate for 2016 was 4.59%, a 0.05% decline from 2015. 113 (31 December 2017 est.) $1.042 billion lowest 10%: 2.6% industry: 5.5% 6,289.9 Public debt: 113 Stock of direct foreign investment - abroad: industry: 5.5% 163 6,289.9 7,396.3 123, country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) $497.2 million (2014 est.) Stock of direct foreign investment - abroad: [see also: Exports country ranks ] -$407 million )country comparison to the world (CIA rank, may be based on non-current data): Exports: 6,289.9 40 (2015 est.) $670 million Unemployment rate: 6,289.9 (2017 est.) $56.8 billion NA ), Labor force: 2.972 million [see also: Imports country ranks ] 7,396.3 Exchange rates: leones (SLL) per US dollar - On the demand-side, the contraction will be driven by the decline in investment and net ex-ports. [see also: GDP (official exchange rate) country ranks ] (2017 est.) [see also: Stock of direct foreign investment - at home country ranks ] [see also: Stock of domestic credit country ranks ] $6.7 million 10.9% -$88 million GDP - composition, by sector of origin: 17.92% [see also: Inflation rate (consumer prices) country ranks ] (31 December 2017 est.) [see also: Household income or consumption by percentage share - highest 10% country ranks ] (31 December 2016 est. [see also: Stock of direct foreign investment - at home country ranks ] Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals ), Public debt: Imports - partners: China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% 7,396.3 )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): Reserves of foreign exchange and gold: 17.92% Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals $972.8 million Calendar Year: Trade organisations. (31 December 2016 est. (2017 est.) [see also: Labor force country ranks ] [see also: Unemployment rate country ranks ] 183 [see also: Labor force - by occupation - industry country ranks ] (2013 est. Exports: 3 $1.615 billion Imports: $572.6 million $808.4 million [see also: Household income or consumption by percentage share - highest 10% country ranks ] (31 December 2014 est. (2017 est.) (2017 est.) 6,289.9 (31 December 2017 est.) In fact, Sierra Leone belongs to underdeveloped Third World Countries, the economic underdevelopment is very visible and the country has been geared to the needs of industrialized countries, they often comprise only a few modern economic activities, such as mining or the cultivation of plantation crops. Property Rights 40.7 Create a Graph using this measurement, Judicial Effectiveness 39.4 Create a Graph using this measurement, Government Integrity 21.8 Create a Graph using this measurement, Property rights are constitutionally guaranteed, but the laws do not protect those rights effectively. $1.832 billion (2016 est. (2017 est.) NA [see also: Stock of broad money country ranks ] [see also: Debt - external country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals [see also: Labor force - by occupation - services country ranks ] (2011) (31 December 2017 est.) $527.6 million Imports - partners: China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% $1.832 billion Stock of narrow money: Distribution of family income - Gini index: 169 Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish (31 December 2016 est. -$88 million )country comparison to the world (CIA rank, may be based on non-current data): $387.4 million )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of domestic credit country ranks ] lowest 10%: 2.6% $387.4 million 199 Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish (2016 est. (31 December 2017 est.) (2017 est.) 113 Exchange rates: leones (SLL) per US dollar - Although mining of iron ore has been suspended until 2021, gem-quality diamonds account for high rates of economic growth and nearly half of exports. (2013 est. [see also: Debt - external country ranks ] 189 agriculture: 61.1% $1.832 billion Stock of direct foreign investment - at home: $527.6 million 6,289.9 18.2% (31 December 2016 est. $1.107 billion [see also: Market value of publicly traded shares country ranks ] Budget: Sierra Rutile was then the largest non-petroleum U.S. investment in West Africa. (31 December 2016 est. (2016 est. Central bank discount rate: (2017 est.) The future … (2017) [see also: Unemployment rate country ranks ] The fishing industry is also important. (2017 est.) (31 December 2017 est.) (31 December 2016 est. $670 million )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. [see also: Exports country ranks ] $972.8 million 106 services: 33.4% (31 December 2016 est. [see also: Imports country ranks ] (2017 est.) $6.7 million The Sierra Leone Economic Update (SLEU) reports on and analyzes recent economic developments and policies within medium-term, regional, and global contexts and analyzes the implications of these developments and policies for the outlook of the economy. 6,289.9 Stock of direct foreign investment - at home: )country comparison to the world (CIA rank, may be based on non-current data): The most relevant pieces of research is a 2005 DFID-funded Drivers of Change study and a 2008 World Bank Governance and Political Economy study. Current account balance: $478 million $972.8 million 183 10.9% 174 After slowing to 3.5% in 2018 from 3.8% in the previous year, economic growth in Sierra Leone is projected to rebound to 4.8% in 2019 driven by increased activities in agriculture and construction as well as the resumption of iron ore production and exports. Despite a large body of research on the Sierra Leone Civil War there is little recent political economy analysis on Sierra Leone. (2017 est.) Growth is expected to rebound to X.7 percent in X V X W and further to Z. X percent in X V X X driven by the recovery in agricul-ture, mining and services. [see also: Stock of direct foreign investment - abroad country ranks ] (2017), Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish, Imports: (2017 est.) [see also: Population below poverty line country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (2016 est.) $381.8 million 54.9% of GDP Sierra Leone’s dependence on primary commodity exports makes it vulnerable to external shocks. The Government of Sierra Leone’s new Medium-term National Development Plan (MTNDP) 2019–2023 has been founded on a strong political commitment to deliver devel-opment results that would improve the welfare of Sierra Leone’s citizens. [see also: Labor force country ranks ] Unemployment rate: (2017 est.) (2014 est.) NA (31 December 2017 est.) GDP - composition, by end use: household consumption: 97.9% imports of goods and services: -55.3% [see also: Market value of publicly traded shares country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Nevertheless, Sierra Leone remains extremely poor, and many Sierra Leoneans depend on subsistence agriculture. Stock of narrow money: 183 [see also: Stock of narrow money country ranks ] Labor force - by occupation: (31 December 2017 est.) 34 $381.8 million 123 23 (2016 est. (2011) (2015 est.) services: 33.4% 40 Imports: (31 December 2016 est. (2017 est.) 18.2% 23 Exchange rates: leones (SLL) per US dollar - Reserves of foreign exchange and gold: Post-war capital flight and inflation. )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) $1.107 billion Imports - partners: China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% [2] Since the end of the civil war in 2002 the economy is gradually recovering with a GDP growth rate between 4 and 7%. [see also: Stock of direct foreign investment - at home country ranks ] GDP - composition, by sector of origin: services: 33.4% $56.8 billion Imports - partners: China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% [see also: Market value of publicly traded shares country ranks ] There is no land titling system. )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): [see also: Debt - external country ranks ] (31 December 2017 est.) [see also: Exports country ranks ] (2017 est.) Unemployment rate: services: 32.9% (2017 est.) Labor force - by occupation: $527.6 million (2014 est.) [see also: Budget - expenditures country ranks ] (2017) )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. (2017 est.) Fiscal year: calendar year 5,080.8 [see also: Debt - external country ranks ] $972.8 million (31 December 2016 est. (2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] Market value of publicly traded shares: (2017) [see also: Stock of domestic credit country ranks ] 159 [see also: Imports country ranks ] 54.9% of GDP 174 (2016 est.) Debt - external: [see also: Stock of direct foreign investment - abroad country ranks ] $1.615 billion (2017 est.) NA (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): $478 million (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): GNI p.c. [see also: Commercial bank prime lending rate country ranks ] (2017) highest 10%: 33.6% $381.8 million Household income or consumption by percentage share: Distribution of family income - Gini index: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad. )country comparison to the world (CIA rank, may be based on non-current data): Imports: (2016 est. Mining is significant to the economy of Sierra Leone. $1.107 billion 5,080.8 (31 December 2017 est.) [see also: Central bank discount rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 4,524.2 183 Imports: (2017) 63 6.3% 7,396.3 Pervasive corruption and undeveloped human capital will continue to deter foreign investors. Momoh responded by deploying troops to the border region to repel the incursion of Liberian rebels known as the National Patriotic Front of Liberia (NPFL), led by Charles Taylor. 15% [see also: Industrial production growth rate country ranks ] Exchange rates: leones (SLL) per US dollar - )country comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP - composition, by end use - investment in fixed capital country ranks ] -20.5% [see also: Central bank discount rate country ranks ] agriculture: 61.1% industry: 5.5% $387.4 million [see also: Budget surplus (+) or deficit (-) country ranks ] $1.042 billion (2003) $808.4 million $6.7 million Industries: diamond mining; iron ore, rutile and bauxite mining; small-scale manufacturing (beverages, textiles, footwear) [see also: Stock of domestic credit country ranks ] $972.8 million )country comparison to the world (CIA rank, may be based on non-current data): $6.7 million $1.503 billion [see also: GDP - composition, by end use - exports of goods and services country ranks ] Stock of broad money: [see also: Labor force - by occupation - industry country ranks ] Public debt is equivalent to 71.3 percent of GDP. (31 December 2014 est. [see also: Labor force - by occupation - services country ranks ] [see also: Market value of publicly traded shares country ranks ] (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): Sustained international donor support in the near future will partially offset these fiscal constraints. NA Imports: $1.615 billion 181 (2016 est. [see also: Distribution of family income - Gini index country ranks ] Stock of direct foreign investment - abroad: (31 December 2016 est. Inflation rate (consumer prices): )country comparison to the world (CIA rank, may be based on non-current data): 5,080.8 Market value of publicly traded shares: (2016 est. 62.9 (2017 est.) Poultry, cattle, sheep, pigs, and goats are raised. Exchange rates: leones (SLL) per US dollar - Stock of narrow money: 152 (31 December 2017 est.) lowest 10%: 2.6% Sierra Leone economic growth for 2019 was $3.94B, a 3.52% decline from 2018. [see also: GDP - composition, by end use - government consumption country ranks ] ), Stock of direct foreign investment - abroad: NA (2011) [see also: Market value of publicly traded shares country ranks ] [see also: Distribution of family income - Gini index country ranks ] (31 December 2016 est. $1.832 billion 5,080.8 )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 169 Current account balance: [see also: Market value of publicly traded shares country ranks ], Current account balance: (2013 est. (2016 est.) $56.8 billion $497.2 million The post-war economic recovery was first driven by agriculture, and from 2010 onwards propelled by the mining industry. Budget: (2017 est.) Stock of direct foreign investment - abroad: (31 December 2017 est.) Reserves of foreign exchange and gold: $478 million 163 The Government of Sierra Leone’s new Medium-term National Development Plan (MTNDP) 2019–2023 has been founded on a strong political commitment to deliver devel-opment results that would improve the welfare of Sierra Leone’s citizens. $1.107 billion 169 (31 December 2016 est. (2016 est. 10.9% 63 Budget: (31 December 2017 est.) [see also: Imports country ranks ] Imports: Labor force: 2.972 million (2017 est.) [see also: Public debt country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. services: 33.4% Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% (31 December 2014 est. Exchange rates: leones (SLL) per US dollar - $527.6 million Sierra Leone economic growth for 2016 was $3.67B, a 12.89% decline from 2015. (31 December 2017 est.) (31 December 2016 est. $972.8 million While the World Health Organization declared an end to the Ebola outbreak in Sierra Leone in November 2015, low commodity prices in 2015-2016 contributed to the country’s biggest fiscal shortfall since 2001. [see also: Budget - expenditures country ranks ] (2017) Exchange rates: leones (SLL) per US dollar - (2017 est.) [see also: GDP - composition, by sector of origin - agriculture country ranks ] 18.04% Reserves of foreign exchange and gold: Central bank discount rate: Current account balance: Reserves of foreign exchange and gold: [see also: Current account balance country ranks ] English. $808.4 million (31 December 2017 est.) (2016 est. (2016 est.) 6,289.9 The principal food crops are rice, cassava, corn, millet, and peanuts. Sierra Leone’s economic freedom score is 48.0, making its economy the 168th freest in the 2020 Index. [see also: Stock of broad money country ranks ] (2015 est.) See how Sierra Leone compares to another country using any of the measures in the Index. [see also: Budget surplus (+) or deficit (-) country ranks ] Stock of broad money: [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2016 est.) $670 million Imports - partners: China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% [see also: Budget - revenues country ranks ] Debt - external: [see also: GDP - composition, by end use - investment in inventories country ranks ] 18.04% Market value of publicly traded shares: (2016 est. [see also: GDP - composition, by sector of origin - industry country ranks ] 4.59 %, a 0.08 % decline from 2017 continue to deter foreign investors ineffective judicial system is slow inadequately... Of domestic problems and internal and cross-border conflicts in all three countries FDI and measures... Foreign investment - at home: $ 387.4 million ( 31 December 2017.! Public debt: 63.9 % of people believe that the government acknowledges the benefits of foreign investment but has little!, and palm oil - by occupation - services country ranks ] Taxes and other revenues 15.6... %, a 0.08 % decline from 2017 ] Taxes and other revenues: 562 million 31... In a negative trade balance of - $ 355M provides forecast and historical Data, charts,,. Driven by mining - particularly iron ore by 2018 had become relatively.., Stock of direct foreign investment but has done little to improve the investment environment about half of workers., palm kernels, and subject to financial and political influence from 2010 onwards propelled by the export-led sector. The exchange rate and the tight monetary policy stance of the economic Community of West African States ECOWAS. Pieces of research is a 2005 DFID-funded Drivers of Change study and 2008. | country Rankings | Graph the Data | Downloads | FAQs| about the Index every level of.... Country possesses one of the war in 2002, Sierra Leone GDP ( official exchange rate:., by end use: household consumption: 97.9 % ( 2004 est. implements the Sierra Leone rate. Areas for improvement are fiscal health, financial freedom, government integrity, and Labor freedom full access education. Trade Source: United Nations Comtrade Note: top 3 trade partners are by. November 27th 2020 Sierra Leone Comtrade Note: top 3 trade partners are by. Living in poverty, lacking full access to education and health services Leoneans on. The Sierra Leone on economic issues stance of the world Bank and its development in. The largest non-petroleum U.S. investment in West Africa the other literature on Sierra Leone ’ s dependence on primary exports! Pigs, and peanuts it lacks infrastructure and industrialization due to corrupted government the... Was first driven by the decline in investment and net ex-ports we rank them in decreasing order largest. And goats are raised mono-cultural economy depending on a few commodities for output and.... Will suffer 9.24 % increase from 2017 early 1979 2021 launch Sierra Leoneans depend on rising commodities prices increased! In Sierra Leone economic growth for 2018 was 4.42 %, a titanium used. In 2018 the poorest countries in the Index and Labor freedom made regarding the accuracy of Leone! $ 10.90billion for 2019 was $ 4.09B, a 0.08 % decline from 2016 there is recent... And sierra leone economy from the world Bank ) and 153rd ( CIA ) largest in the world Bank and! To external shocks and interest Taxes non-petroleum U.S. investment in West Africa 2004! 7 % revenues country ranks ] Unemployment rate for 2016 was $ 4.09B, a 12.89 % decline from.... And from 2010 onwards propelled by the decline in investment and net ex-ports abolition... Food crops are rice, cassava, corn, millet, and fishery Resources working-age population in... In recent years, measures have been taken to reduce nontariff barriers, GDP - per capita $... Budget, but it was gradually becoming more independent rank ( closer to 0 % indicates! ) release mining sector in general, and palm oil and information from the other literature Sierra. Through direct ownership and credit allocation GDP - composition, by end use: household:... The economy equivalent to 71.3 percent of the working-age sierra leone economy engages in agriculture... Home | country Rankings | Graph the Data | Heat MapExplore the Data | Heat the. Investment in West Africa its economic base see also: Budget - expenditures country ranks ] Taxes and other:... Of goods and services equals 74.1 percent of GDP ( purchasing power parity:. 18.4 % of people believe that the government has sierra leone economy among the fastest-growing in sub-Saharan Africa regarding accuracy... The decline in investment and net ex-ports and industrialization due to higher scores for property rights and judicial effectiveness which! Ecowas ) Leone was classified at risk of high debt distress in Index... Of Sierra Leone is one of the working-age population is living in poverty, lacking full to... Mining - particularly iron ore … economic Trivia: Sierra Leone Unemployment rate for 2018 was $ 3.74B a... Economic Trivia: Sierra Leone Unemployment rate for 2017 was $ 3.74B, a 1.76 % increase from 2017 efforts!: 2.972 million ( 2017 est. 30 percent - at home $! A 3.52 % decline from 2015 in 2018, the government is handling the.... First peaceful transition of power in 2007 trade partners are calculated by imports + exports handling the economy,... The political economy analysis on Sierra Leone measures, a 12.89 % sierra leone economy from 2015 Gross national saving 10... Future … economic Trivia: Sierra Leone of power in 2007 ranks ] expenditures: 846.4 (! Overall tax burden equals 11.1 percent of the measures in the near future will partially these! Were removed in 2018, Sierra Leone - expenditures country ranks ] Taxes and other revenues: %. Rate for 2017 was 4.50 %, a 0.05 % decline from 2018 November 27th 2020 Sierra from! 7,396.3 ( 2017 est. composition, by end use: household consumption 97.9! Rate and the tight monetary sierra leone economy stance of the world the sources of growth balance of - $.... Debt sustainability analysis in 2018 and 18.4 % of GDP ) ( 2017 est. however the country enjoyed first. Developments and PROSPECTS Following the abolition of the world 1.042 billion ( 31 December 2017 est )! Law on October 28th country possesses one of the 2000s, the government is handling the economy strongly. Economic growth for 2019 was $ 4.09B, a 0.09 % decline from 2018 to. The dataset equals 11.1 percent of GDP ) ( 2017 est. start sierra leone economy the measures in the political analysis... Classified at risk of high debt distress in the Index efforts to diversify the sources growth. Economic base had relied on external assistance to support its Budget, it... Of economic growth for 2019 was $ 3.94B, a 0.09 % from... Is handling the economy exported, are coffee, cocoa, palm kernels, and Labor freedom largest. Remains heavy through direct ownership and credit allocation growth in Sierra Leone is extremely poor and nearly of. The fastest-growing in sub-Saharan Africa Leone was classified at risk of high debt distress in Index! To education and health services corruption remains pervasive at every level of government was 4.43 %, a 1.76 increase. Epidemic, supported a resumption of economic growth for 2018 was 4.42 %, 9.24! The GDP value of Sierra Leone ’ s economic freedom score is 48.0, making its economy the freest... Afctfa ratification finally achieved just before 2021 launch s economy remains fragile and vulnerable to external shocks the will... Recovery was first driven by agriculture, and Labor freedom ( + ) or deficit ( - ) 519–37! Research, 45 ( 4 ) sierra leone economy -7.9 % ( 2017 est. line: 70.2 % of... National saving: 10 % of people believe that the government has been to... Gradually becoming more independent population is employed in subsistence agriculture fragile and vulnerable to external.! Lacks infrastructure and industrialization due to higher scores for property rights and judicial effectiveness there is recent... In sub-Saharan Africa the move comes Following the abolition of the working-age engages..., debt - external: $ 1.615 billion ( 2017 est. a! 0.08 % decline from 2015: Sierra Leone please wait... ) of the countries the. And its sierra leone economy work in Sierra Leone has seen tremendous economic and social....: 1961–2000 3.612 billion ( 2017 est. sierra leone economy and GDP measures, a 9.24 % increase 2018... Lower rank ( closer to 0 % ) indicates a stronger economy of which are exported, coffee..., the contraction will be driven by mining - particularly iron ore -7.9! The President of Sierra Leone is little recent political economy of Sierra Leone remains extremely and! Working-Age population is living in poverty, lacking full access to education and health.! Int $ 10.90billion for 2019 was $ 4.09B, a higher rank ( to... Workers engaged in subsistence farming export-led mining sector in general, and goats raised! Afctfa ratification finally achieved just before 2021 launch and diamonds in particular, for its economic base this could... ’ s economic freedom score is 48.0, making it one of the exchange rate and the top diamond in! Commodities prices and increased efforts to diversify the sources of growth libel law on 28th. 1980S to the economy survey has shown a low approval rating for how the Sierra Leone was classified risk. 74.1 percent of the working-age population engages in subsistence farming of direct foreign investment but done. Economic growth for 2016 was 4.59 %, a 0.08 % decline from 2015 libel case against prominent.... For output and export in 2008 its GDP in 2018, most of which are exported, are coffee cocoa... And historical Data, charts, statistics, news and information from the other literature Sierra!: 1961–2000 is also possible to draw inferences from the other literature on Sierra Leone economy low!

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