Sierra Leone


Sierra Leone Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Sierra Leone; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Sierra Leone
International Reserves US$ 439.131 million (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 3.261 billion (2010 estimate)
GDP (Purchasing Power Parity) 7.009 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
18.2% 27.4% 9.5% 7.4% 7.2% 7.3% 6.4% 5.5%
2009 2010 2011 2012*
3.2% 5% 5.3% 35.9%

*Estimate

GDP per capita - current prices US$ 530 (2010 estimate)
GDP per capita - PPP $1,138 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.02% 0.01% 0% 0.01% 0.01%

**Forecast

GDP - composition by sector
  • agriculture: 51% 
  • industry: 21.7% 
  • services: 27.3% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
9.2%(2008) 17.8% 18.5% 11.5%

*Estimate

Unemployment rate
2009 2010 2011 2012*
N/A N/A N/A(2009) N/A

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
53.7% 61.8% 65.5% 60% 44.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-4.7% -3.2% -6.9% -5.7% -3.8%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: N/A

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in Sierra Leone N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -328 million (2010 estimate)(After 2008)
Current account balance by percentage of GDP -10% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

17.1% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0% (2010)(2007)

(Data were released in 2012)

Total exports US$1.168 billion (2012 estimate) 
Export commodities diamonds, rutile, cocoa, coffee, fish
Total imports US$1.675 billion (2012 estimate) 
Import commodities foodstuffs, machinery and equipment, fuels and lubricants, chemicals
Exports - major partners Belgium 28.9%, Romania 12.6%, Netherlands 9.2%, China 7.3%, US 6.9%, Turkey 6%, UK 5.8% (2011)
Imports - major partners China 16.2%, South Africa 10.9%, US 7.4%, UK 7.2%, India 5.1%, Malaysia 4.3% (2011)
FDI inflows
2009 2010 2011
US$74 million US$87 million(2009) US$49 million(2009)
FDI outflows
2009 2010 2011
N/A US$5 million N/A
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) N/A(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 140 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 76 out of 185 countries(2009)

Enforcing Contracts: 147 out of 185 countries

Registering Property: 167 out of 185 countries

Getting credit: 83 out of 185 countries

Protecting investors: 32 out of 185 countries

Trading across border: 131 out of 185 countries

Paying Taxes: 117 out of 185 countries

Dealing with Construction Permits: 173 out of 185 countries

Getting Electricity: 176 out of 185 countries

Resolving Insolvency: 154 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
143

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 152 Score: 49.1 (Repressed) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC 0
Total area 71,740 km2 (2006)
Capital Freetown (2009)
Currency leones (SLL) (2009)
Government type constitutional democracy (2009)
Languages English (official, regular use limited to literate minority), Mende (principal vernacular in the south), Temne (principal vernacular in the north), Krio (English-based Creole, spoken by the descendants of freed Jamaican slaves who were settled in the Free
Religions Muslim 60%, Christian 10%, indigenous beliefs 30%
Total population
1980 1990 2000 2012* 2017**
2.88 million 3.53 million 4.23 million 6.16 million 7 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
17.4% 29.1% 35.5% 39.3%
Population median age 18 years (2010)
Population growth rate 2.2% (2011)
Life expectancy 47 years (2010)
Adult literacy 41% (2005/2010)
% of population living on less than $2 a day 76.08% (2011)
Inequality of wealth distribution (Gini index)

42.52 (2003)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:3 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

35.63% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population N/A
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

0.2465 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Standard Chartered (Ravi Menon, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS International Commercial Bank (Sierra Leone) (National, 2012)
2011:
  • COUNTRY WINNERS International Commercial Bank-Sierra Leone (Global, 2011)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Standard Chartered (2013)
2012:
  • COUNTRY WINNERS Standard Chartered (National, 2012)
2011:
  • COUNTRY WINNERS Standard Chartered (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE