Economy of Sierra Leone
Population: 7.65 M (2018)
GDP per Capita: 534 USD (2018)
4,090 M.

GDP USD

(2018)

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710 M.

EXPORTS USD

(2018)

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1,600 M.

IMPORTS USD

(2018)

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62.99 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.45 % (2018)
GDP of 2010 USD USD 3.60 B. (2018)
GDP Current USD USD 4.09 B. (2018)
GDP per Capita Current USD USD 534 (2018)
GDP per capita, PPP USD 1,421 (2018)
GDP per Capita, 2010 USD USD 473 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 9.24 % (2018)
Government Spending USD 0.38 B. (2018)
Government Debt % GDP 62.99 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 56.72 (2018)
Trade Openness 56.70 % (2018)
Exports of Goods and Services % GDP 17.47 % (2018)
Exports Goods & Services USD 0.71 B. (2018)
Exports Annual Growth 23.28 % (2017)
Imports as % GDP 39.23 % (2018)
Total Imports USD 1.60 B. (2018)
Foreign Direct Investment % GDP 5.33 % (2018)
Foreign Direct Investment USD 0.60 B. (2018)
Current Account Balance % GDP USD -15.82 % (2018)
Current Account Balance USD -0.65 B. (2018)
Trade Balance % GDP -21.76 % (2018)
Trade Balance USD -0.86 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.50 B. (2018)
Remittances % GDP 1.25 % (2018)
Remittances USD 58 M. (2018)
Balance of Payments USD 235 M. (2018)

Labor Market

Indicator Value
Labor Force 2.68 M. (2019)
Unemployment Rate 4.33 % (2019)
Unemployment Rate Females 3.63 % (2019)
Unemployment Rate Males 5.22 % (2019)
Youth Unemployment (ages 15-24) 8.48 % (2019)
Labor Force Participation Rate 57.95 % (2019)
Labor Force (Percent Female) 49.74 % (2019)
Female Labor Force Participation Rate 57.58 % (2019)
Male Labor Force Participation Rate 58.33 % (2019)
Dependent People 78.66 % (2018)

Agriculture Sector

Indicator Value
Forest Area 43.10 % (2016)
Forest Area km² 31,076 km² (2016)
Agricultural Land 54.71 % (2016)
Agricultural Land km² 39,490 km² (2016)
Employment 58.40 % (2019)
Value added % GDP 58.93 % (2018)
Agriculture Value added USD 2.41 B. (2018)
Crop Production Index 196.20 (2016)
Precipitation 2,526 mm (2014)
Arable Land 22 % (2016)
Cereal Yield 1,956 kg/hectare (2017)
Food production index 201 (2016)
Rural Population 58 % (2018)
Fertilizer use of Arable Land 201 (2016)
Livestock Production Index 215 (2016)
Economy of Sierra Leone

According to the World Bank and its latest published data, the economy of the Sierra Leone presents a growth rate of 3.45 % (2018) to the previous year.

With a population that reaches 7.65 M (2018) and a gross domestic product of USD 4.09 B. (2018), it translates a Gross Domestic Product per Capita of USD 534 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Sierra Leone also has a workforce of 2.68 M. (2019) with an unemployment rate of 4.33 % (2019), where women represent 3.63 % (2019) and men 5.22 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.48 % (2019). The total number of dependent people stands at 78.66 % (2018).

The central government spent 9.24 % (2018) of its gross domestic product that year, which in absolute terms is USD 0.38 B. (2018). Its consolidated public debt reached 62.99 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Sierra Leone exported USD 0.71 B. (2018), which represents 17.47 % (2018) of its gross domestic product, in that same sense its imports reached USD 1.60 B. (2018) with a direct foreign investment of USD 0.60 B. (2018).

Sierra Leone has a forest area of 31,076 km² (2016), which represents 43.10 % (2016) of its total area, an average rainfall of 2,526 mm (2014) per year and a population of 58 % (2018) living in rural areas. With a total area of 39,490 km² (2016) available for agriculture and 58.40 % (2019) of its employments, the agricultural sector contributes to the economy of the Sierra Leone about USD 2.41 B. (2018) (58.93 % (2018) of its GDP).