4.23 (billion US dollars) in 2019 In 2019, GDP for Sierra Leone was 4.23 billion US dollars. Sierra Rutile was then the largest non-petroleum U.S. investment in West Africa. 846.4 million (2017 est. License: CC BY-4.0 Line Bar Map. The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. Because of widespread poverty, high petroleum prices and a large portion of the population residing in small communities, walking is often the preferred method of transportation in Sierra Leone. Financially disadvantageous exchange rates and government budget deficits led to sizable balance-of-payments deficits and inflation. Notes: see Table 2. ), Membership of international economic bodies, ACE international fiber-optic cable system, Economic Community of West African States, United Nations Economic Commission for Africa, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges", "Poverty headcount ratio at national poverty lines (% of population) - Sierra Leone", "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Sierra Leone", "GINI index (World Bank estimate) - Sierra Leone", "Inequality-adjusted Human Development Index (IHDI)", "Foreign Direct Investment in Sierra Leone", https://www.cia.gov/library/publications/the-world-factbook/fields/2056.html#sl, Least Developed Countries: Country profiles, Country Information Sierra Leone - Economy, http://www.econstats.com/IMF/IFS_Sie1_99B__.htm#Year, "Africa :: Sierra Leone — The World Factbook - Central Intelligence Agency", Sierra Leone latest trade data on ITC Trade Map, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Economy_of_Sierra_Leone&oldid=988033356, World Trade Organization member economies, Articles with German-language sources (de), Vague or ambiguous geographic scope from October 2014, Creative Commons Attribution-ShareAlike License, Officially the Republic of China, participates as ", This page was last edited on 10 November 2020, at 17:34. ), Gross national saving: Sierra Leone gdp for 2016 was $3.67B, a 12.89% decline from 2015. Also Show. Since the end of the civil war in 2002 the economy is gradually recovering with a GDP growth rate between 4 and 7%. $478 million (31 December 2017 est. ), Electricity - imports: Sierra Rutile Limited, fully owned by Nord Resources of the United States, began commercial mining operations near Bonthe in early 1979. ), Budget surplus (+) or deficit (-): Sierra Leone GDP - real growth rate. In October 2000, a new UN-approved export certification system for exporting diamonds from Sierra Leone was put into place that led to a dramatic increase in legal exports. Sierra Leone GDP (Gross Domestic Product) was INT$10.90billion for 2019 in PPP terms. Key facts. Sierra Leone gdp per capita for 2016 was $501, a 14.76% decline from 2015. GDP of Sierra Leone increased from 0.94 billion US dollars in 2000 to 4.23 billion US dollars in 2019 growing at an average annual rate of 8.83%. In 2017, the gross domestic product (GDP) per capita in Sierra Leone amounted to around 503.35 U.S. GDP Annual Growth Rate in Sierra Leone averaged 2.65 percent from 1961 until 2019, reaching an all time high of 20.70 percent in 2013 and a record low of -20.50 percent in 2015. Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% (2017), Imports - commodities: All rights reserved. The economy of Sierra Leone is that of a least developed country with a gross domestic product (GDP) of approximately US$1.9 billion in 2009. 562 million (2017 est.) industry: Il est situé entre la Guinée (au nord-ouest) et le Liberia et bordé au sud-ouest par l'océan Atlantique. Real GDP (constant, inflation adjusted) of Sierra Leone reached $3,496,685,933 in 2017. agriculture: 28-July-2015. Successive governments and the population as a whole have always believed that "diamonds and gold" are sufficient generators of foreign currency earnings and lure for investment. Current GDP per capita of Sierra Leone grew 32% in the 1960s, reaching a peak growth of 107% in the 1970s. diamond mining; iron ore, rutile and bauxite mining; small-scale manufacturing (beverages, textiles, footwear), Industrial production growth rate: Radio is the most-popular and most-trusted media source in Sierra Leone, with 72% of people in the country listening to the radio daily. As a result, large scale agriculture of commodity products, industrial development and sustainable investments have been neglected by governments.