Economy of Sierra Leone

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Economy of Namibia
Gross Domestic Product (GDP) ( PPP ) U $ 10.64 billion (2016) 
GDP (real) US $ 4.289 billion (2016)
Economic growth 4.3% (2016) 
GDP per capita (PPP) US $ 1700 (2016) 
GDP by sector
  • Agriculture: 71.1%
  • Industry: 27.9%
  • Services: 21% (2016)
Employed 2.678 million (2016)
Unemployment rate 9.1% (2014)
Population ent.
D. Poverty line		 70.2% (2014)
State budget Income: US $ 558.1 million
Expenditure: US $ 738.6 million (2016)
National debt 43.3% of GDP (2016)
export US $ 886.4 million fob (2016) 
import US $ 1.303 billion fob (2016) 
currency Leone
(inflation rate: 7.1% 2016; 8.0% 2015)

As is typical of a developing country , the economy of Sierra Leone is primarily based on self-sufficient agriculture . Up to 50 percent of the working population in Sierra Leone pursue this industry.

In addition, the economy is generally in the process of building up after the civil war in Sierra Leone ended in 2002. In 2012 and 2013, Sierra Leone had one of the highest annual economic growth rates in the world of more than 20 percent. In 2015, the economy collapsed by more than 20 percent due to the Ebola virus epidemic .

Sierra Leone is one of the least developed countries .

economic sectors

Hand mining of diamonds in Sierra Leone
Rice farmer in Sierra Leone

In addition to agriculture , mining in particular plays an important economic role and is the largest source of foreign currency for the country.

Industry in Sierra Leone is underdeveloped and is almost entirely concentrated in the capital, Freetown . Drinks, clothes and shoes are produced.

International tourism is an emerging industry. Before the civil war, Sierra Leone was an insider tip and was mainly visited by travelers from France . However, the number of annual tourists has been little more than 5,000 in recent years, which makes Sierra Leone one of the least-visited countries on earth .

Foreign trade

The most important trading partner is the People's Republic of China , to which a good fifth of the Sierra Leonean exports flow. China follows Belgium (just under 28 percent of exports), Romania (11.5%) and the United States of America (7.5%). Exports had in 2016 a value of 888.4 million US dollars . It was mainly iron ore , diamonds , rutile bauxite , cocoa , coffee and fish .

Imports were goods worth 1.303 billion US dollars. The People's Republic of China is also the largest import partner with a share of 23.1 percent. China follows India , the USA and the Netherlands . The main imports were foodstuffs , machinery , fuels , lubricants and chemicals .

Sierra Leone is a member of the World Trade Organization (WTO) and the West African Economic Community (ECOWAS).

See also

Web links

Individual evidence

  1. ↑ a b c d e Sierra Leone - economy overview. World Fact Book, 2016. Retrieved May 24, 2017.
  2. ↑ Sierra Leone: Real gross domestic product (GDP) growth from 2007 to 2017. Statista. Retrieved May 24, 2017.