Sierra Leone:
Economy

Pages for other countries and territories

Other pages in this profile of Sierra Leone:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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 is not well developed, 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 has completed a Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation. A recent increase in political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining.
GDP (purchasing power parity)	Definition - World rank and map $3.971 billion (2007 est.)
GDP (official exchange rate)	Definition $1.664 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 6.8% (2007 est.)
GDP - per capita	Definition - World rank and map $700 (2007 est.)
GDP - composition by sector	Definition agriculture: 49% industry: 31% services: 21% (2001 est.)
Labor force	Definition 1.369 million (1981 est.)
Labor force - by occupation	Definition agriculture: NA% industry: NA% services: NA%
Unemployment rate	Definition - World rank and map NA%
Population below poverty line	Definition 70.2% (2004)
Household income or consumption by percentage share	Definition lowest 10%: 0.5% highest 10%: 43.6% (1989)
Distribution of family income - Gini index	Definition - World rank and map 62.9 (1989)
Inflation rate (consumer prices)	Definition - World rank and map 11.7% (2007 est.)
Budget	Definition revenues: $96 million expenditures: $351 million (2000 est.)
Agriculture - products	Definition rice, coffee, cocoa, palm kernels, palm oil, peanuts; poultry, cattle, sheep, pigs; fish
Industries	Definition diamond mining; small-scale manufacturing (beverages, textiles, cigarettes, footwear); petroleum refining, small commercial ship repair
Industrial production growth rate	Definition - World rank and map NA%
Electricity - production	Definition - World rank and map 245 million kWh (2005)
Electricity - consumption	Definition - World rank and map 227.9 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 36.3 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0.7008 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 8,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 1.3 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 431.1 bbl/day (2004)
Oil - imports	Definition - World rank and map 8,864 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$63 million (2007 est.)
Exports	Definition - World rank and map $216 million f.o.b. (2006)
Exports - commodities	Definition diamonds, rutile, cocoa, coffee, fish
Exports - partners	Definition Belgium 49.9%, US 20.7%, Netherlands 4.6%, Canada 4.1% (2006)
Imports	Definition - World rank and map $560 million f.o.b. (2006)
Imports - commodities	Definition foodstuffs, machinery and equipment, fuels and lubricants, chemicals
Imports - partners	Definition China 9.7%, Cote d'Ivoire 9.4%, US 8.9%, Brazil 7%, UK 5.4%, Netherlands 4.7%, South Africa 4.6%, India 4.4% (2006)
Debt - external	Definition - World rank and map $1.61 billion (2003 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $343.4 million (2005 est.)
Currency (code)	Definition leone (SLL)
Exchange rates	Definition leones per US dollar - NA (2007), 2,961.7 (2006), 2,889.6 (2005), 2,701.3 (2004), 2,347.9 (2003)
Fiscal year	Definition calendar year

Sierra Leone: Economy

Sierra Leone:
Economy