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    Sierra Leone Economy - 1990

      Overview: The economic and social infrastructure is not well developed. Subsistence agriculture dominates the economy, generating about one-third of GDP and employing about two-thirds of the working population. Manufacturing accounts for less than 10% of GDP, consisting mainly of the processing of raw materials and of light manufacturing for the domestic market. Diamond mining provides an important source of hard currency. The economy suffers from high unemployment, rising inflation, large trade deficits, and a growing dependency on foreign assistance.

      GDP: $965 million, per capita $250; real growth rate 1.8% (FY87)

      Inflation rate (consumer prices): 42% (September 1988)

      Unemployment rate: NA%

      Budget: revenues $86 million; expenditures $128 million, including capital expenditures of $NA (FY90 est.)

      Exports: $106 million (f.o.b., 1988); commodities--rutile 50%, bauxite 17%, cocoa 11%, diamonds 3%, coffee 3%; partners--US, UK, Belgium, FRG, other Western Europe

      Imports: $167 million (c.i.f., 1988); commodities--capital goods 40%, food 32%, petroleum 12%, consumer goods 7%, light industrial goods; partners--US, EC, Japan, China, Nigeria

      External debt: $805 million (1989 est.)

      Industrial production: growth rate - 19% (FY88 est.)

      Electricity: 83,000 kW capacity; 180 million kWh produced, 45 kWh per capita (1989)

      Industries: mining (diamonds, bauxite, rutile), small-scale manufacturing (beverages, textiles, cigarettes, footwear), petroleum refinery

      Agriculture: accounts for over 30% of GDP and two-thirds of the labor force; largely subsistence farming; cash crops--coffee, cocoa, palm kernels; harvests of food staple rice meets 80% of domestic needs; annual fish catch averages 53,000 metric tons

      Aid: US commitments, including Ex-Im (FY70-88), $149 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $698 million; OPEC bilateral aid (1979-89), $18 million; Communist countries (1970-88), $101 million

      Currency: leone (plural--leones); 1 leone (Le) = 100 cents

      Exchange rates: leones per US$1--87.7193 (January 1990), 58.1395 (1989), 31.2500 (1988), 30.7692 (1987), 8.3963 (1986), 4.7304 (1985)

      Fiscal year: 1 July-30 June

      NOTE: The information regarding Sierra Leone on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sierra Leone Economy 1990 information contained here. All suggestions for corrections of any errors about Sierra Leone Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)