The economic architecture of Sierra Leone is substantial, anchored by a Gross Domestic Product (GDP) of approximately $6.41B
2023
. This places it as the 156th largest economy out of 192 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $757.86
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $28.49B, offering a clearer picture of the population's domestic purchasing power. The economy is experiencing a period of vigorous expansion, with a high growth rate of 5.7%
2023
, though this rapid growth is shadowed by high inflation, with the Consumer Price Index (CPI) reaching 28.6%, suggesting the economy may be overheating.
2024
On the global stage, Sierra Leone's trade and financial dynamics reveal a complex interplay of international and domestic factors. The nation's economic activity is heavily reliant on foreign goods, running a considerable trade deficit with imports at 34.3% of GDP and exports at 21.5%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 3.15% of the economy
2023
. This performance positions the country 63rd globally out of 187 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $437.51M annually
2023
.
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $870
2023
, ranking the nation 175th out of 191. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The labor market demonstrates considerable strength, with a low unemployment rate of 3.1%, suggesting conditions close to full employment.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 45.3% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 56.8% of the population living below the national poverty line
2018
. The nation exhibits a moderate degree of income inequality, with a Gini index of 35.7.
2018
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. The country is at the forefront of the global green transition, with renewable sources constituting a remarkable 71.6% of total final energy consumption
2022
. This commitment places it 167th among 191 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 6.94K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Rampant inflation is the most urgent economic threat, eroding purchasing power, destabilizing markets, and complicating policy choices.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

A global leader in the green transition, the country leverages its strong commitment to renewable energy as a key economic and diplomatic advantage.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.