Rich Potential: Sierra Leone
Sierra Leone offers a wealth of resources and a future of longterm growth, but it’s only for those who can handle the ups and downs.
Sierra Leone GDP and Economic Data
Country Report 2017 - Includes Sierra Leone real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Sierra Leone economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Sierra Leone best banks and safest banks are also available.
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International Reserves
USD 0.5 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 3.9 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 12.3 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 8.1% | 5.4% | 3.2% | 5.3% | 6.3% | 15.2% | 20.7% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 4.6% | -20.5% | 6.4% | 3.8% | 3.7% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.02% | 0.02% | 0.01% | 0.01% | 0.009% |
*Estimate
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GDP - composition by sector
- agriculture: 60.3%
- industry: 5.2%
- services: 32.4%
(2017 estimate)
Inflation
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 6.7% | 10.9% | 18.2% | 16.9% | 15.7% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018 | 2019 |
| N/A | N/A | N/A | N/A | N/A |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 44.9% | 55.5% | 57.9% | 63% | 64.5% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -4.5% | -8.5% | -8.8% | -5.8% | -3.6% |
*Estimate
Government bond ratings
Standard & Poor's: N/A
Moody's: N/A
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-13.8% (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
26.1% (2017)
Shares in world total merchandising export
0.004% (2018)
Shares in world total commercial services export
0.003% (2017)
Export commodities
Iron ore, diamonds, rutile, cocoa, coffee, fish
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Import commodities
Foodstuffs, machinery and equipment, fuels and lubricants, chemicals
Exports - major partners
Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% (2017)
Imports - major 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)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 138 million | USD 129 million | USD 599 million |
FDI outflows
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | N/A | N/A | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
163 out of 190 countries
Subcategories:
Starting a Business: 58 out of 190 countries
Dealing with Construction Permits: 181 out of 190 countries
Getting Electricity: 181 out of 190 countries
Registering Property: 169 out of 190 countries
Getting Credit: 165 out of 190 countries
Protecting Minority Investors: 128 out of 190 countries
Paying Taxes: 93 out of 190 countries
Trading across Borders: 165 out of 190 countries
Enforcing Contracts: 108 out of 190 countries
Resolving Insolvency: 162 out of 190 countries
Source
Index of Economic Freedom
Ranking: 167 / Score: 47.5 (Repressed)
(100=totally free 0=totally repressed)
Source
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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 78.6%, Christian 20.8%, other 0.3%, unspecified 0.2% (2013 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 4.22 million | 4.47 million | 6.28 million | 7.09 million | 7.91 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 17.4% | 29.8% | 35.6% | 42.1% |
Literacy
Total population: 48.1%
Male: 58.7%
Female: 37.7%
Definition: age 15 and over can read and write english, mende, temne, or arabic (2015 est.)
% of population living on less than $3.10 a day
81.3% (last available estimate, 2011)
Inequality of wealth distribution (Gini index)
34 (last available estimate, 2011)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Partly Free
Political Rights: 3
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 0.2% Mobile: 88.5% (2017)
(fixed-telephone subscribers and mobile-cellular subscribers)