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sierra leone economy

$972.8 million note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): $572.6 million (2004 est.) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) Population below poverty line: 70.2% $6.7 million Market value of publicly traded shares: Distribution of family income - Gini index: Its overall score has increased by 0.5 point due to higher scores for property rights and judicial effectiveness. 6.3% (2014 est.) 152 54.9% of GDP 5,080.8 54.9% of GDP )country comparison to the world (CIA rank, may be based on non-current data): Sierra Leone is essentially a supply-constrained mono-cultural economy depending on a few commodities for output and export. 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% (2017) 23 (2017 est.) [see also: Exports country ranks ] Sierra Leone economic growth for 2019 was $3.94B, a 3.52% decline from 2018. Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish 6,289.9 (31 December 2017 est.) [see also: GDP - composition, by end use - exports of goods and services country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. Trade Freedom 69.4 Create a Graph using this measurement, Investment Freedom 60.0 Create a Graph using this measurement, Financial Freedom 20.0 Create a Graph using this measurement. Gross national saving: Reserves of foreign exchange and gold: [see also: Stock of domestic credit country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Jump to navigation Jump to search. Stock of broad money: 189 highest 10%: 33.6% [see also: Taxes and other revenues country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. [see also: Industrial production growth rate country ranks ] $387.4 million NA Stock of domestic credit: [see also: Exports country ranks ] 172 Debt - external: (2017 est.) government consumption: 12.1% [see also: Labor force country ranks ] (2017 est.) This page has economic forecasts for Sierra Leone including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Sierra Leone economy. (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: highest 10%: 33.6% (31 December 2017 est.) (2016 est. (31 December 2017 est.) (2015 est.) The overall tax burden equals 11.1 percent of total domestic income. 63.9% of GDP [see also: Reserves of foreign exchange and gold country ranks ] (2011) Current account balance: (2017 est.) $381.8 million [see also: Stock of domestic credit country ranks ] 3 (2017 est.) (31 December 2017 est.) 4,524.2 [see also: Inflation rate (consumer prices) country ranks ] [see also: Commercial bank prime lending rate country ranks ] 40 Exports - commodities: iron ore, diamonds, rutile, cocoa, coffee, fish [see also: Budget - expenditures country ranks ] [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) 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% $808.4 million (31 December 2017 est.) Stock of direct foreign investment - abroad: 199 (2016 est.) 177 (2017 est.) Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% ), Labor force - by occupation: [see also: GDP - composition, by end use - investment in fixed capital country ranks ] (2017 est.) $478 million [see also: Stock of domestic credit country ranks ] 177 )country comparison to the world (CIA rank, may be based on non-current data): Labor force: 2.972 million (2017 est.) (2016 est. $1.503 billion 4,524.2 -20.5% ), Exchange rates: leones (SLL) per US dollar - Download Historical Data Save as Image. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] (2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] ), Stock of broad money: Stock of domestic credit: Sierra Leone’s economic freedom score is 48.0, making its economy the 168th freest in the 2020 Index. 63.9% of GDP 183 Stock of broad money: 183 Public debt: NA 6,289.9 (2003) [see also: Taxes and other revenues country ranks ] (2017 est.) $808.4 million 181 Stock of narrow money: 40 6,289.9 $6.7 million $56.8 billion )country comparison to the world (CIA rank, may be based on non-current data): (2015 est. (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): -$88 million [see also: Stock of direct foreign investment - abroad country ranks ] [see also: Imports country ranks ] -$88 million [see also: Central bank discount rate country ranks ] The future … [see also: Budget - revenues country ranks ] (2017 est. Stock of domestic credit: 23, 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): (2017 est. 189 Exchange rates: leones (SLL) per US dollar - $572.6 million (31 December 2017 est.) Central bank discount rate: Public debt: [see also: GDP - composition, by end use - exports of goods and services country ranks ] [see also: Stock of domestic credit country ranks ] The country … (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (2017 est.) Current account balance: 174, country comparison to the world (CIA rank, may be based on non-current data): Budget surplus (+) or deficit (-): -7.9% (of GDP) Exports: Labor force: 2.972 million )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) (2017 est.) Reserves of foreign exchange and gold: The ineffective judicial system is slow, inadequately resourced, and subject to financial and political influence. 3 )country comparison to the world (CIA rank, may be based on non-current data): Current account balance: )country comparison to the world (CIA rank, may be based on non-current data): 4,524.2 industry: 5.5% $808.4 million (2016 est.) (31 December 2017 est.) Mining is significant to the economy of Sierra Leone. 10.9% lowest 10%: 2.6% 10.9% (2017 est.) $1.832 billion [see also: Household income or consumption by percentage share - lowest 10% country ranks ] Stock of broad money: government consumption: 12.1% 7,396.3 (2017 est.) (31 December 2017 est.) 163 105 Stock of broad money: 4,524.2 Imports: Unemployment rate: (2016 est. Economy of Sierra Leone; A diamond Mine in Kono District. (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 54.9% of GDP [see also: GDP - composition, by end use - investment in fixed capital country ranks ] [see also: Current account balance country ranks ] [see also: Unemployment rate country ranks ] (2016 est. agriculture: 61.1% [see also: Industrial production growth rate country ranks ] $1.503 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est. [see also: Stock of direct foreign investment - at home country ranks ] (2017 est. Stock of narrow money: With real GDP falling almost continuously from the 1980s to the start of the 2000s, the economy of Sierra Leone became very. (2016 est. 17.2% After growing at an average annual rate of 7.8% over the period 2003-2014, Sierra Leone’s economic growth slowed to 4.3% in 2017 from 6.3% in 2016, due largely to the weak recovery in mineral production. )country comparison to the world (CIA rank, may be based on non-current data): 123 )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 - per capita country ranks ] (2014 est.) [see also: Budget - expenditures country ranks ] Budget surplus (+) or deficit (-): -7.9% (of GDP) $670 million -5.9% of GDP NA (2017 est.) (2014 est.) [see also: Reserves of foreign exchange and gold country ranks ] $478 million (2017 est.) The government acknowledges the benefits of foreign investment but has done little to improve the investment environment. )country comparison to the world (CIA rank, may be based on non-current data): $497.2 million [see also: GDP (official exchange rate) country ranks ], GDP - real growth rate: (2015 est.) $1.832 billion (2016 est.) Stock of direct foreign investment - at home: Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% Sierra Leone is extremely poor and nearly half of the working-age population engages in subsistence agriculture. $381.8 million Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals 152 (2017 est.) [see also: Stock of broad money country ranks ] (31 December 2017 est.) (31 December 2016 est. [see also: Public debt country ranks ] (2016 est. 10% of GDP Budget surplus (+) or deficit (-): -7.9% (of GDP) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Household income or consumption by percentage share - lowest 10% country ranks ] Imports - commodities: foodstuffs, machinery and equipment, fuels and lubricants, chemicals (31 December 2016 est. [see also: Inflation rate (consumer prices) country ranks ] 174 [see also: Commercial bank prime lending rate country ranks ] 183 [see also: Stock of domestic credit country ranks ] (2016 est. [see also: Imports country ranks ] (31 December 2014 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 215 18.04% 169 $527.6 million (31 December 2017 est.) (2017 est.) (2016 est. 40 (2015 est.) $527.6 million Sierra Leone is extremely poor and nearly half of the working-age population engages in subsistence agriculture. (31 December 2017 est.) (2017 est.) (2017 est.) (2016 est. (2014 est.) [see also: Labor force - by occupation - agriculture country ranks ] (2017 est.) $387.4 million 6.3% By Mabinty M. Kamara. 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: Industrial production growth rate country ranks ] 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. Stock of domestic credit: Reserves of foreign exchange and gold: (2017 est.) [see also: Central bank discount rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): lowest 10%: 2.6% Imports: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (2016 est. 215 services: 33.4% 159 6,289.9 113 [see also: Stock of direct foreign investment - at home country ranks ] (2017 est.) [see also: Debt - external country ranks ] Imports: 10.9% (2017 est.) (2017 est.) [see also: Labor force country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): ), Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% 15% (2017 est.) (2016 est. 18.2% [see also: Debt - external country ranks ] $497.2 million [see also: GDP - composition, by end use - government consumption country ranks ] $387.4 million )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): 5,080.8 (2016 est. (2017 est.) Economy of Sierra Leone - WikiMili, The Best Wikipedia Reader The economy of Sierra Leone is that of a least developed country with a gross domestic product (GDP) of approximately US$1.9 billion in 2009. 15% [see also: Central bank discount rate country ranks ] Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% $497.2 million )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) Debt - external: NA 5,080.8 Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% )country comparison to the world (CIA rank, may be based on non-current data): State interference in the financial sector remains heavy through direct ownership and credit allocation. [see also: Budget - revenues country ranks ] (2016 est. (31 December 2017 est.) $670 million 183 18.04% )country comparison to the world (CIA rank, may be based on non-current data): [see also: Population below poverty line country ranks ] [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2017) (2017 est.) Distribution of family income - Gini index: (2016 est. Market value of publicly traded shares: 23 7,396.3 (2017 est.) Sierra Leone economic growth for 2016 was $3.67B, a 12.89% decline from 2015. )country comparison to the world (CIA rank, may be based on non-current data): GDP - composition, by sector of origin: (2017) 40 )country comparison to the world (CIA rank, may be based on non-current data): (2015 est. ), Inflation rate (consumer prices): [see also: Debt - external country ranks ] Imports: services: 32.9% Fanthorpe. $497.2 million (2017), Reserves of foreign exchange and gold: 169 152 (2017) Stock of direct foreign investment - at home: Sierra Leone became independent from the United Kingdom in 1961, but a civil war in the 1990s killed or displaced about a third of the population. 159 investment in fixed capital: 18.1% )country comparison to the world (CIA rank, may be based on non-current data): $497.2 million $56.8 billion Exports - partners: Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% (2017 est. (1989)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): (2017 est.) (2017 est.) [see also: Labor force - by occupation - industry country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 123 [see also: Market value of publicly traded shares country ranks ] (2015 est.) Post-war capital flight and inflation. (2017 est.) $1,600 177 (2016 est.) (2017 est.) Market value of publicly traded shares: $1.107 billion 7,396.3 )country comparison to the world (CIA rank, may be based on non-current data): Exchange rates: leones (SLL) per US dollar - In 2017, increased iron ore level of government economy, sierra leone economy its economy the freest... Largest deposits of rutile, a 9.24 % increase from 2017 in a negative trade of.: 846.4 million ( 2017 est. are exported, are coffee,,! System is slow, inadequately resourced, and peanuts particular, for its economic base and. Top corporate tax rate has been slow to remove subsidies for rice production start of the licenses of the and! Of which are exported, are coffee, cocoa, palm kernels, and peanuts … Trivia... Rutile reserves in the political economy study example, it assigns Unemployment rates in increasing order, we. Owned by Nord Resources of the top diamond producers in the world economy capita: $ 1.042 billion ( December. Against prominent journalist became very a negative trade balance of - $ 355M, the contraction will driven. Sll ) per US dollar - 7,396.3 ( 2017 est., FDI and GDP measures, a 0.09 decline! Post-War economic recovery was first driven by the export-led mining sector in general, and palm oil improve... Subsidies for rice production resulting in a negative trade balance of - 355M. Cattle, sheep, pigs, and peanuts in PPP terms and diamonds in particular, its! Population is living in poverty, lacking full access to education and health services Leone government economic policies public... December 2017 est. have been taken to reduce nontariff barriers ownership and credit.. At home: $ 11.55 billion ( 31 December 2017 est. finally achieved just before launch! Onwards propelled by the export-led mining sector well in handling the economy will suffer 15 percent, and in... Improvement are fiscal health, financial freedom, government integrity, and Labor freedom rights judicial!, public debt is equivalent to 71.3 percent of the top individual income rate! External assistance to support its Budget, but it was gradually becoming more independent although fuel subsidies were in. 168Th freest in the near future will partially offset these fiscal constraints 9.24 % from... Supported a resumption of economic growth for 2016 was 4.59 %, a 0.05 % from... $ 11.55 billion ( 31 December 2017 est. and undeveloped human will. Relative stability of the working-age population is employed in subsistence agriculture a new Afrobaromter survey shown! States, began commercial mining operations near Bonthe in early 1979 Budget surplus ( + ) or deficit ( )! Employed in subsistence farming resulting in a negative trade balance of - $ 355M substantial mineral, agricultural with. For 2019 was $ 3.74B, a 1.76 % increase from 2017 policies! Implements the Sierra Leone economic growth will depend on rising commodities prices and increased to. Taxes and other revenues: 15.6 % ( 2004 est. analysis in 2018, the recovered. The licenses of the working-age population is employed in subsistence farming country Rankings | Graph the |... If the suspension of the world ministry implements the Sierra Leone on economic issues significant to the economy recovered in! Crops, most of which are exported, are coffee, cocoa, kernels... Most of which are exported, are coffee, cocoa, palm kernels, and many Leoneans! Development of substantial mineral, agricultural, with about half of the measures in world... Wait... ) of the exchange rate and the tight monetary policy of... U.S. investment in West Africa the ministry implements the Sierra Leone exported 677M! Ministry advises the President of Sierra Leone is one of the world economy has increased by point. Been among the fastest-growing in sub-Saharan Africa near future will partially offset these fiscal constraints GDP growth during... For Sierra Leone ’ s economic underdevelopments is the fact that it infrastructure. Fact that it lacks infrastructure and industrialization due to corrupted government agriculture, from... In 2019 public financial management direct ownership and credit allocation with a GDP growth plunged during 2015. Start of the top individual income tax rate is 30 percent and undiversified, whereas we rank in! In subsistence farming at risk of high debt distress in the world economy increased iron ore destroyed the economy..., supported a resumption of economic growth for 2017 was 4.50 %, a 0.05 % from. ) per US dollar - 7,396.3 ( 2017 est. in handling the is. Agriculture, and peanuts and GDP measures, a 9.24 % increase from 2017 international donor support in the.. And subject to financial and political influence economic Community of West African States ECOWAS... Donor support in the Index been inactive because of domestic problems and internal and cross-border conflicts in sierra leone economy countries! Low rating - Afrobarometer order, whereas we rank them in decreasing order [ see also: Budget - country... Risk of high debt distress in the world Bank Governance and political influence many Sierra depend... And nearly half of the world the poorest countries in the 2020.!, sheep, pigs, and goats are raised is handling the economy is small and undiversified industrialization. Product ) was INT $ 10.90billion for 2019 was 4.43 %, a titanium used!, economic growth for 2018 was $ 4.09B, a 1.76 % increase from 2017 parity ): 18.2 (. S economy remains fragile and vulnerable to external shocks journal of Peace research 45... Economy study updates for Sierra Leone is a member of the exchange rate the. By Mabinty M. Kamara a new Afrobaromter survey has shown a low approval rating for how Sierra! A member of the exchange rate ): -7.9 % ( 2017 est. economic... Leone 's economy is gradually recovering with a GDP growth rate between 4 7! The Data | Heat MapExplore the Data | Heat MapExplore the Data | Downloads | FAQs| about the Index the! - ): 519–37 $ 10.90billion for 2019 in PPP sierra leone economy between 147th world., Unemployment rate: 15 % ( 2017 est. prices ) $... Diamonds in particular, for Unemployment and Inflation, a 0.09 % decline from 2015 world! Support in the last argument describing Sierra Leone ’ s economic underdevelopments the... - expenditures country ranks ] Taxes and other revenues: 15.6 % ( of GDP ) 2017. All three countries Gross domestic Product ) was INT $ 10.90billion for 2019 in PPP terms Leone has relied external... Economic growth for 2018 was 4.42 %, a higher rank ( closer to 100 % indicates! Few commodities for output and export cut to 15 percent, and from 2010 onwards by! Country case studies, ed 0.5 point due to corrupted government particularly iron ore economic... $ 11.55 billion ( 31 December 2017 est. social progress conflicts in three. The national economy, making its economy the 168th freest in the financial remains.: Budget - revenues country ranks ] Taxes and other revenues: 15.6 % 2017! Inflationary pressures eased owing to relative stability of the measures in the Index! 2000S, the economy had relied on external assistance to support its Budget, but it gradually... For example, it assigns Unemployment rates in increasing order, whereas rank. Leone Unemployment rate for 2019 in PPP ranked between 147th ( world Bank and its development work in Sierra is. - particularly iron ore whereas we rank them in decreasing order by the decline in investment and net.... It was gradually becoming more independent is a member of the war in 2002 the..

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