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Sierra Leone Economy 2011
https://theodora.com/wfb2011/sierra_leone/sierra_leone_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Sierra Leone Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 11, 2011

Economy - overview:
Sierra Leone is an extremely poor nation with tremendous inequality in income distribution. While it possesses substantial mineral, agricultural, and fishery resources, its physical and social infrastructure has yet to recover from the civil war, and serious social disorders continue to hamper economic development. Nearly half of the working-age population engages in subsistence agriculture. Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. Alluvial diamond mining remains the major source of hard currency earnings accounting for nearly half of Sierra Leone's exports. The fate of the economy depends upon the maintenance of domestic peace and the continued receipt of substantial aid from abroad, which is essential to offset the severe trade imbalance and supplement government revenues. The IMF has completed a Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation and in 2010 approved a new program worth $45 million over three years. Political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining, which are set to benefit from planned tax incentives. A number of offshore oil discoveries were announced in 2009 and 2010. The development on these reserves, which could be significant, is still several years away.

GDP (purchasing power parity):
$4.812 billion (2010 est.)
country comparison to the world: 161

$4.574 billion (2009 est.)
$4.382 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$1.901 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.2% (2010 est.)
country comparison to the world: 54

4.4% (2009 est.)
5.5% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$900 (2010 est.)
country comparison to the world: 222

$900 (2009 est.)
$900 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 49%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 31%
[see also: GDP - composition by sector - industry country ranks ]
services: 21% (2005 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
2.207 million (2007 est.)
country comparison to the world: 115
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
70.2% (2004)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33.6% (2003)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
62.9 (1989)
country comparison to the world: 5
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $96 million
[see also: Budget - revenues country ranks ]
expenditures: $351 million (2000 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
11.7% (2007 est.)
country comparison to the world: 206
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA%
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)
country comparison to the world: 9

24.5% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$209.4 million (31 December 2009)

$219.1 million (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$437 million (31 December 2009)

$434.3 million (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$178.4 million (31 December 2009)
country comparison to the world: 176

$140.9 million (31 December 2008)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
rice, coffee, cocoa, palm kernels, palm oil, peanuts; poultry, cattle, sheep, pigs; fish

Industries:
diamond mining; small-scale manufacturing (beverages, textiles, cigarettes, footwear); petroleum refining, small commercial ship repair

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
80 million kWh (2007 est.)
country comparison to the world: 195
[see also: Electricity - production country ranks ]

Electricity - consumption:
74.4 million kWh (2007 est.)
country comparison to the world: 195
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
29 bbl/day (2009 est.)
country comparison to the world: 113
[see also: Oil - production country ranks ]

Oil - consumption:
9,000 bbl/day (2009 est.)
country comparison to the world: 154
[see also: Oil - consumption country ranks ]

Oil - exports:
502 bbl/day (2007 est.)
country comparison to the world: 126
[see also: Oil - exports country ranks ]

Oil - imports:
8,316 bbl/day (2007 est.)
country comparison to the world: 144
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 123
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 131
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 179
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 126
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 132
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 135
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$63 million (2007 est.)
country comparison to the world: 71
[see also: Current account balance country ranks ]

Exports:
$216 million (2006)
country comparison to the world: 180
[see also: Exports country ranks ]

Exports - commodities:
diamonds, rutile, cocoa, coffee, fish

Exports - partners:
Belgium 26.56%, US 11.87%, Netherlands 7.91%, UK 7.4%, India 6.67%, Cote d'Ivoire 6.13%, Greece 4.05% (2009)

Imports:
$560 million (2006)
country comparison to the world: 187
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and equipment, fuels and lubricants, chemicals

Imports - partners:
South Africa 14.61%, China 7.58%, US 5.87%, Cote d'Ivoire 5.65%, India 5.19%, Malaysia 5.19%, France 5.08%, UK 4.48%, Netherlands 4.06% (2009)

Debt - external:
$1.61 billion (2003 est.)
country comparison to the world: 143
[see also: Debt - external country ranks ]

Exchange rates:
leones (SLL) per US dollar - NA (2007), 2,961.7 (2006), 2,889.6 (2005), 2,701.3 (2004), 2,347.9 (2003)


NOTE: The information regarding Sierra Leone on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sierra Leone Economy 2011 information contained here. All suggestions for corrections of any errors about Sierra Leone Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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