Sierra Leone/Economy

Economy of Sierra Leone

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$6.4B(2023)
GDP PPP (USD)
$28.5B(2023)
GDP per Capita (USD)
$758(2023)
GDP Growth (inflation-adjusted)
5.7%(2023)
Inflation (CPI Annual %)
28.6%(2024)

Trade & Finance

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Exports (as share of GDP)
21.5%(2023)
Imports (as share of GDP)
34.3%(2023)
FDI Inflows (as share of GDP)
3.1%(2023)
Remittance Inflow (USD)
$437.5M(2023)

Labor & Income

Coming Soon
Unemployment Rate
3.1%(2024)
Employment in Services
45.3%(2023)
Poverty Rate
56.8%(2018)
GINI Index
35.7(2018)
GNI per Capita (USD)
$870(2023)

Energy & Environment

Coming Soon
Renewable Energy Consumption (%)
71.6%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Sierra Leone

  • 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 155th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $757.86
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $28.49B, reflecting the population's domestic purchasing power. The economy is experiencing robust expansion, with a high growth rate of 5.7%
    2023
    , but this is challenged by high inflation, with the Consumer Price Index (CPI) at 28.6%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 21.5% of GDP and imports at 34.3%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 3.15% of the economy
    2023
    . This performance positions the country 62nd globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $437.51M annually
    2023
    , highlighting the economic importance of its diaspora.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $870
    2023
    . Globally, this ranks the nation 174th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is robust, with a low unemployment rate of 3.1%
    2024
    . The services sector is a primary driver of the labor market, accounting for 45.3% of total employment
    2023
    . Poverty remains a key issue, with 56.8% of the population living below the national poverty line
    2018
    . There is a moderate level of income inequality, with a Gini index of 35.7
    2018
    .
  • On the environment and energy front, The country is a leader in clean energy, with renewable sources making up 71.6% of total final energy consumption
    2022
    . Its commitment to clean energy places it 166th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Runaway inflation is the most pressing economic threat, eroding purchasing power and creating instability.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

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.