| Economy | Sierra Leone |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
Sierra Leone is an extremely poor nation with tremendous inequality in income distribution. While it possesses substantial mineral, agricultural, and fishery resources, its physical and social infrastructure has yet to recover from the civil war, and serious social disorders continue to hamper economic development. Nearly half of the working-age population engages in subsistence agriculture. Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. Alluvial diamond mining remains the major source of hard currency earnings, accounting for nearly half of Sierra Leone's exports. The fate of the economy depends upon the maintenance of domestic peace and the continued receipt of substantial aid from abroad, which is essential to offset the severe trade imbalance and supplement government revenues. The IMF completed a Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation and in 2010 approved a new program worth $45 million over three years. Political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining, which are set to benefit from planned tax incentives. A number of offshore oil discoveries were announced in 2009 and 2010. The development on these reserves, which could be significant, is still several years away. |
GDP (purchasing power parity):
|
$5.1 billion (2011 est.)
$4.794 billion (2010 est.)
$4.59 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$800 (2011 est.)
$800 (2010 est.)
$800 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$2.1 billion (2011 est.) |
GDP - real growth rate:
|
5.1% (2011 est.)
5% (2010 est.)
3.2% (2009 est.) |
GDP - composition by sector:
|
agriculture: 51%
industry: 21.7%
services: 27.3% (2011 est.) |
Investment (gross fixed):
|
16.1% of GDP (2011 est.) |
Population below poverty line:
|
70.2% (2004) |
Household income or consumption by percentage share:
|
lowest 10%: 2.6%
highest 10%: 33.6% (2003) |
Distribution of family income - Gini index:
|
62.9 (1989) |
Inflation rate (consumer prices):
|
18% (2011 est.)
16.6% (2010 est.) |
Central bank discount rate:
|
NA% |
Commercial bank prime lending rate:
|
24.5% (31 December 2011 est.)
21.25% (31 December 2010 est.) |
Stock of money:
|
$219.1 million (31 December 2008)
$184.6 million (31 December 2007) |
Stock of money - per capita:
|
41 USD per capita |
Stock of quasi money:
|
$215.2 million (31 December 2008)
$177.7 million (31 December 2007) |
Stock of quasi money - per capita:
|
41 USD per capita |
Stock of domestic credit:
|
$400.1 million (31 December 2011 est.)
$333.2 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
75 USD per capita |
Stock of narrow money:
|
$284 million (31 December 2011 est.)
$249.7 million (31 December 2010 est.) |
Stock of broad money:
|
$639.8 million (31 December 2011 est.)
$532.8 million (31 December 2010 est.) |
Labor force:
|
2.207 million (2007 est.) |
Labor force participation rate:
|
41.15 % of population |
Labor force - by occupation:
|
agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
NA% |
Unemployment, youth ages 15-24:
|
total: 5.2%
male: 7.3%
female: 3.5% (2004) |
Budget:
|
revenues: $414 million
expenditures: $560.3 million (2011 est.) |
Budget revenues per capita:
|
78 USD per capita |
Taxes and other revenues:
|
19.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-7% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
diamond mining; small-scale manufacturing (beverages, textiles, cigarettes, footwear); petroleum refining, small commercial ship repair |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
58 million kWh (2008 est.) |
Electricity - production per capita:
|
11 kWh per capita |
Electricity - consumption:
|
53.94 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
11 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
25.39 bbl/day (2010 est.) |
Oil - production per capita:
|
5 bbl/day per capita |
Oil - consumption:
|
9,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
0.61 bbl/year per capita |
Oil - exports:
|
499.5 bbl/day (2009 est.) |
Oil - imports:
|
4,945 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
rice, coffee, cocoa, palm kernels, palm oil, peanuts; poultry, cattle, sheep, pigs; fish |
Current account balance:
|
-$603.6 million (2011 est.)
-$482.9 million (2010 est.) |
Current account balance - per capita:
|
-112 USD per capita |
Exports:
|
$469.7 million (2011 est.)
$362.9 million (2010 est.) |
Exports per capita:
|
88 USD per capita |
Exports - commodities:
|
diamonds, rutile, cocoa, coffee, fish |
Exports - partners:
|
Belgium 29.2%, Romania 15.3%, US 9%, Netherlands 7.3%, Cote dIvoire 5.7%, UK 4.1% (2010) |
Imports:
|
$965.5 million (2011 est.)
$735.9 million (2010 est.) |
Imports per capita:
|
181 USD per capita |
Imports - commodities:
|
foodstuffs, machinery and equipment, fuels and lubricants, chemicals |
Imports - partners:
|
South Africa 14.7%, China 10.7%, Malaysia 6.7%, US 6.6%, UK 6.4%, Cote dIvoire 5.7%, India 4.8% (2010) |
Reserves of foreign exchange and gold:
|
$466.9 million (31 December 2011 est.)
$409 million (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
88 USD per capita |
Debt - external:
|
$1.61 billion (2003 est.) |
Debt - external - per capita:
|
301 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
leone (SLL) |
Exchange rates:
|
leones (SLL) per US dollar -
4,400 (2011 est.)
3,978.09 |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
