View source for Economy of Sierra Leone

{{Short description|none}}
{{Infobox economy
| country = Sierra Leone
| image = Central Freetown at night, Sierra Leone. January1 2014.jpg
| caption = Capital of Sierra leone 
| currency = [[Sierra Leonean leone]]
| year = Calendar Year
| organs = [[African Union|AU]], [[African Continental Free Trade Area|AfCFTA]], [[African Development Bank]], [[ECOWAS]], [[Mano River Union|MRU]], [[World Bank]], [[IMF]], [[WTO]], [[Group of 77]]
| group = {{plainlist|
*[[Least Developed Countries|Least developed]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
*[[Least Developed Countries|Low-income economy]]<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
| gdp = {{plainlist|
* {{increase}} $8.39 billion ([[GDP (nominal)|nominal]]; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper">{{cite web |url=https://www.imf.org/external/datamapper/profile/SLE |title=IMF DataMapper: Sierra Leone |website=[[International Monetary Fund]] |date=2025 |access-date=31 May 2025}}</ref>
* {{increase}} $32.51 billion ([[Purchasing power parity|PPP]]; {{abbr|2025|2025}})<ref name="IMF DataMapper"/> 
}}
| gdp rank = {{plainlist|
* [[List of countries by GDP (nominal)|154th (nominal; 2025)]]
* [[List of countries by GDP (PPP)|150th (PPP; 2025)]]
}}
| growth = {{plainlist|   
* {{Increase}} 4.7%&nbsp;(2025)<ref name="IMF DataMapper" />
* {{Increase}} 4.9%&nbsp;(2026f)<ref name="IMF DataMapper" />
* {{Increase}} 4.7%&nbsp;({{abbr|2027f|2025 forecast}})<ref name="IMF DataMapper" />
* {{Increase}} 4.6%&nbsp;({{abbr|2028f|2025 forecast}})<ref name="IMF DataMapper" />
}}
| per capita = {{plainlist|
* {{increase}} $915 (nominal; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/>
* {{increase}} $3,550 (PPP; {{abbr|2025|2025 forecast}})<ref name="IMF DataMapper"/> 
}}
| per capita rank = {{plainlist|
* [[List of countries by GDP per capita (nominal)|176th (nominal; 2025)]]
* [[List of countries by GDP per capita (PPP)|165th (PPP; 2025)]]
}}
| sectors = {{plainlist|
*[[agriculture]]: 51.5%
*[[Industrial sector|industry]]:14.9%
*[[Service (economics)|services]]: 33.6%
*(2012 est.)}}
| inflation = 16.862% (2018 est.)<ref name="IMFWEOSL">{{cite web |title=World Economic Outlook Database, October 2019 |url=https://www.imf.org/external/pubs/ft/weo/2019/02/weodata/weorept.aspx?pr.x=61&pr.y=4&sy=2017&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=724&s=NGDPD%2CPPPGDP%2CNGDPDPC%2CPPPPC%2CPCPIPCH&grp=0&a= |website=IMF.org |publisher=[[International Monetary Fund]] |access-date=22 January 2020}}</ref>
| poverty = {{plainlist|
*52.9% (2011)<ref>{{cite web |title=Poverty headcount ratio at national poverty lines (% of population) - Sierra Leone |url=https://data.worldbank.org/indicator/SI.POV.NAHC?locations=SL |website=data.worldbank.org |publisher=World Bank |access-date=22 March 2020}}</ref>
*40.1% on less than $1.90/day (2018)<ref>{{cite web |title=Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Sierra Leone |url=https://data.worldbank.org/indicator/SI.POV.DDAY?locations=SL |website=data.worldbank.org |publisher=World Bank |access-date=22 March 2020}}</ref>}}
| gini = 35.7 {{color|darkorange|medium}} (2018)<ref>{{cite web |title=GINI index (World Bank estimate) - Sierra Leone |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=SL |website=data.worldbank.org |publisher=World Bank |access-date=22 March 2020}}</ref>
| hdi = {{plainlist|
*{{increase}} 0.458 {{color|red|low}} (2024)<ref>{{cite web |url=http://hdr.undp.org/en/indicators/137506 |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=11 December 2019}}</ref> ([[List of countries by Human Development Index|181st]])
*0.282 {{color|red|low}} [[List of countries by inequality-adjusted HDI|IHDI]] (2018)<ref>{{cite web |url=http://hdr.undp.org/en/content/table-3-inequality-adjusted-human-development-index-ihdi |title=Inequality-adjusted Human Development Index (IHDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=11 December 2019}}</ref>}}
| labor = 3.102 million (2018 est.)
| unemployment = N/A
| industries = [[diamond]]s [[mining]], small-scale [[manufacturing]] ([[cigarettes]], [[beverage]]s, [[textile]]s, [[footwear]]), [[petroleum refining]], commercial [[ship]] repair
| exports = {{Increase}} $1.704 billion [[List of countries by exports|(153rd)]] (2018 est.)<ref name=export_import>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2078.html#sl|title=2012 Exports figures of Sierra Leone|publisher=[[CIA World Factbook]]|date=2012|access-date=2013-07-27|archive-url=https://web.archive.org/web/20120504222805/https://www.cia.gov/library/publications/the-world-factbook/fields/2078.html#sl|archive-date=2012-05-04|url-status=dead}}</ref>
| export-goods = [[diamonds]], [[rutile]], [[Cocoa bean|cocoa]], [[coffee]], [[fish]]<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2049.html#sl|title=Exports Products of Sierra Leone|publisher=[[CIA World Factbook]]|access-date=2013-07-27|archive-url=https://web.archive.org/web/20150626172345/https://www.cia.gov/library/publications/the-world-factbook/fields/2049.html#sl|archive-date=2015-06-26|url-status=dead}}</ref>
| export-partners = {{plainlist|
*{{flag|China}} 50.9%
*{{flag|Belgium}} 18.1%
*{{flag|Japan}} 7.9%
*{{flag|Turkey}} 5.9%
*{{flag|Netherlands}} 4.5%
*{{flag|Indonesia}} 4.5%
*(2012 est.)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#sl|archive-url=https://web.archive.org/web/20070613004055/https://www.cia.gov/library/publications/the-world-factbook/fields/2050.html#sl|url-status=dead|archive-date=June 13, 2007|title=Exports Partners of Sierra Leone |publisher=[[CIA World Factbook]]|year=2012|access-date=2013-07-27}}</ref>}}
| imports = {{Increase}} $2.309 billion [[List of countries by imports|(172nd)]] (2012 est.)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2087.html#sl|title=2012 Imports figures of Sierra Leone|publisher=[[CIA World Factbook]]|date=2012|access-date=2013-07-27|archive-url=https://web.archive.org/web/20180310010114/https://www.cia.gov/library/publications/the-world-factbook/fields/2087.html#sl|archive-date=2018-03-10|url-status=dead}}</ref>
| import-goods = [[machinery]], [[fuel]], [[lubricant]]s, [[chemical]]s, [[food]]<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2058.html#sl|title=Imports Products of Sierra Leone|publisher=[[CIA World Factbook]]|access-date=2013-07-27|archive-url=https://web.archive.org/web/20181005060619/https://www.cia.gov/library/publications/the-world-factbook/fields/2058.html#sl|archive-date=2018-10-05|url-status=dead}}</ref>
| import-partners = {{plainlist|
*{{flag|China}} 18.4%
*{{flag|India}} 12.1%
*{{flag|South Africa}} 8.1%
*{{flag|United States}} 7.6%
*{{flag|United Kingdom}} 6.6%
*{{flag|Côte d'Ivoire}} 5.6%
*{{flag|Belgium}} 4.5%
*(2012 est.)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2061.html#sl|archive-url=https://web.archive.org/web/20070613003031/https://www.cia.gov/library/publications/the-world-factbook/fields/2061.html#sl|url-status=dead|archive-date=June 13, 2007|title=Imports Partners of Sierra Leone|publisher=[[CIA World Factbook]]|year=2012|access-date=2013-07-27}}</ref>}}
| FDI = {{increase}} $2.644 billion [[List of countries by FDI abroad|(94th)]] (31 December 2018 est.)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.html?countryname=Sierra%20Leone&countrycode=sl&regionCode=afr&rank=94#sl|archive-url=https://web.archive.org/web/20131019023755/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.html?countryname=Sierra%20Leone&countrycode=sl&regionCode=afr&rank=94#sl|url-status=dead|archive-date=October 19, 2013|title=Foreign Direct Investment in Sierra Leone|publisher=[[CIA World Factbook]]|date=2012|access-date=2013-07-27}}</ref>
| gross external debt = {{increase}} $3.425 billion [[List of countries by external debt|(158th)]] (31 December 2018 est.)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html?countryname=Sierra%20Leone&countrycode=sl&regionCode=afr&rank=158#sl|archive-url=https://web.archive.org/web/20131019015034/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html?countryname=Sierra%20Leone&countrycode=sl&regionCode=afr&rank=158#sl|url-status=dead|archive-date=October 19, 2013|title=2012 External Debt of Sierra Leone|publisher=[[CIA World Factbook]]|date=c. 2018 |access-date=2015-07-27}}</ref>
| debt = {{Decreasepositive}} 42.8% of GDP (2024)<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2186.html#sl|title=Public Debt of Sierra Leone|publisher=[[CIA World Factbook]]|year=2012|access-date=2013-07-27|archive-url=https://web.archive.org/web/20180120070632/https://www.cia.gov/library/publications/the-world-factbook/fields/2186.html#sl|archive-date=2018-01-20|url-status=dead}}</ref>
| revenue = $510.2 million (2012 est.)<ref name="CIA World Factbook">{{Cite web |url=https://www.cia.gov/library/publications/the-world-factbook/fields/2056.html#sl |title=The World Factbook — Central Intelligence Agency |access-date=2013-07-27 |archive-date=2018-07-06 |archive-url=https://web.archive.org/web/20180706234818/https://www.cia.gov/library/publications/the-world-factbook/fields/2056.html#sl |url-status=dead }}</ref>
| expenses = $728.5 million (2012 est.)<ref name="CIA World Factbook"/>
| reserves = 
| credit = 
| aid = 
}}

The '''economy of [[Sierra Leone]]''' is $8.39 billion by [[gross domestic product]] as of 2025.<ref name=GFO>{{in lang|de}} German Foreign Office. [http://www.auswaertiges-amt.de/diplo/de/Laenderinformationen/SierraLeone/Wirtschaft.html#t1 Country Information Sierra Leone - Economy] Partly citing the ''Economist Intelligence Unit''.  Retrieved 2010-03-24.</ref> Since the end of the [[Sierra Leone Civil War]] in 2002, the economy is gradually recovering with a [[gross domestic product]] growth rate between 4 and 7%.<ref name=GFO /> In 2024, the IMF ranked it the [[List of countries by GDP (PPP)|149th largest economy in the world]] by PPP.

Sierra Leone's economic development has always been hampered by an overdependence on mineral exploitation.  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.

As a result, large scale agriculture of commodity products, industrial development and sustainable investments have been neglected by governments. The economy could thus be described as one which is "exploitative" - a [[rentier state]] - and based upon the extraction of unsustainable resources or non-reusable assets.

Two-thirds of the population of Sierra Leone are directly involved in [[subsistence agriculture]].<ref name = "future">{{Cite web
  | title = Settling for a future in Sierra Leone
  | publisher = New Agriculture
  | date = November 2007
  | url = http://www.new-ag.info/focus/focusItem.php?a=291
  | access-date = 20 February 2011
  | archive-date = 4 August 2020
  | archive-url = https://web.archive.org/web/20200804200645/http://www.new-ag.info/en/focus/focusItem.php?a=291
  | url-status = dead
  }}</ref> Agriculture accounted for 58 percent national GDP in 2007.<ref name = "AFEC">{{Cite book |first=OECD - Organisation for Economic Co-operation and Development|last= African Development Bank| title =African Economic Outlook 2009: Country Notes: Volumes 1 and 2|publisher=OECD Publishing| year =2009| pages =561–562| url =https://books.google.com/books?id=e91T-0zSWnAC&q=mining+gdp+sierra+leone&pg=PT565|isbn=978-92-64-07618-1}}</ref>

==Economic history==
This is a chart of trend of gross domestic product of Sierra Leone at market prices estimated by the International Monetary Fund and EconStats<ref>{{cite web |url=http://www.econstats.com/IMF/IFS_Sie1_99B__.htm#Year |title= Sierra_Leone - Gross Domestic Product (GDP)|website=www.econstats.com |archive-url=https://web.archive.org/web/20050228074305/http://www.econstats.com/IMF/IFS_Sie1_99B__.htm |archive-date=2005-02-28}}</ref> with figures in millions of Sierra Leones.
{| class="wikitable"
|-
! Year || Gross Domestic Product
|-
| 1965 || 246
|-
| 1970 || 355
|-
| 1975 || 572
|-
| 1980 || 1,155
|-
| 1985 || 4,365
|-
| 1990 || 98,386
|-
| 1995 || 657,604
|-
| 2000 || 1,330,429
|}

Current GDP per capita of Sierra Leone grew 32% in the 1960s, reaching a peak growth of 107% in the 1970s. But this proved unsustainable and it consequently shrank by 52% in the 1980s and a further 10% in the 1990s.

The mean wage was US$0.32 per hour in 2009.

==Economic sectors==
{| style="margin:1em; background:#f9f9f9; border:1px #aaa solid; border-collapse:collapse; font-size:90%; float:right;"
|+'''''Percentage of GDP by sector (2007)<ref name = "AFEC"/> '''''
|- style="background:lightblue;"
! Rank !! Sector !! Percentage of [[GDP]]
|-
|1 || Agriculture || 58.5
|-
|2 ||Other Services || 10.4
|-
|3 || Trade and tourism || 9.5
|-
|4 || Wholesale and retail trade || 9.0
|-
|5 || Mining and quarying || 4.5
|-
|6 || Government Services || 4.0
|-
|7 || Manufacturing and handicrafts || 2.0
|-
|8 || Construction || 1.7
|-
|9 || Electricity and water || 0.4
|}

===Agriculture===
{{Further|Agriculture in Sierra Leone}}

[[File:Sierra Leone rice farmer.jpg|thumb|A farmer with his rice harvest in Sierra Leone]]
Two-thirds of the population of [[Sierra Leone]] are directly involved in [[subsistence agriculture]].<ref name="future"/> Agriculture accounted for 58 percent national [[Gross Domestic Product]] (GDP) in 2007.<ref name = "AFEC"/>

Agriculture is the largest employer with 80 percent of the population working in the sector.<ref name = "tour">{{Cite book |last=König|first=Dirk | title =Linking Agriculture to Tourism in Sierra Leone - a Preliminary Research | publisher =GRIN Verlag| year =2008| page =67  | url =https://books.google.com/books?id=ChOkCqPu_QMC&q=agriculture+economy+sierra+leone&pg=PA65|isbn=978-3-638-94680-3}}</ref> [[Rice]] is the most important staple crop in Sierra Leone with 85 percent of farmers cultivating rice during the rainy season<ref name = "deep rice">{{Cite book |last=Catling|first=David| title = Rice in deep water| publisher =Int. Rice Res. Inst.| year =1992| page = 372 | url =https://books.google.com/books?id=N5JxwKx1RAgC&q=rice+sierra+leone&pg=PA372|isbn=978-971-22-0005-2}}</ref> and an annual consumption of 76&nbsp;kg per person.<ref name = "rice facts">{{Cite book | title =Rice today, Volume 3:Rice facts | publisher =International Rice Research| year =2004| page =48  | url =https://books.google.com/books?id=3PZjte6EADYC&q=rice+sierra+leone&pg=PA48}}</ref>

===Energy===
{{excerpt|Sierra Leone|Energy|subsections=yes}}

===Mining===
{{Further|Mining in Sierra Leone}}
Rich in minerals, [[Sierra Leone]] has relied on the [[mining]] sector in general, and [[diamond]]s in particular, for its economic base. In the 1970s and early 1980s, [[economic growth]] rate slowed because of a decline in the mining sector. Financially disadvantageous exchange rates and government [[budget deficit]]s led to sizable balance-of-payments deficits and inflation.

Certain policy responses to external factors as well as implementations of aid projects and maintenance have led to a general decline in economic activity and a serious degradation of economic [[infrastructure]]s. Sierra Leone's short-term prospects depend upon continued adherence to [[International Monetary Fund]] programs and continued external assistance.

=== Telecommunications ===
{{Further|Telecommunications in Sierra Leone}}

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. Sierra Leone is home to one government-owned national radio station and roughly two dozen private radio stations, as well as one government-owned and one private TV station.

Telephone and telegraph services are marginal, but improving. Internet usage is low, reaching just 1.3% of the population in 2012, but improving with growth in [[3G|3G mobile cellular data services]] and the mid-2011 arrival of the [[ACE (cable system)|ACE international fiber-optic cable system]] in [[Freetown]].

=== Tourism ===
{{Further|Tourism in Sierra Leone}}

According to the [[International Labour Organization]], approximately 8,000 Sierra Leoneans are employed in the [[tourism]] industry, with a growing number of jobs expected to be created in the future. The main entrance point is [[Freetown International Airport]], where transport to and from has been problematic.  The main attractions for tourist in Sierra Leone are the beaches, nature reserves and mountains.<ref name="Limited2002">{{cite book|author=Europa Publications Limited|title=Africa South of the Sahara 2003|url=https://books.google.com/books?id=1KBP7QbalX0C&pg=PA934|access-date=22 March 2011|date=31 December 2002|publisher=Psychology Press|isbn=978-1-85743-131-5|page=934}}</ref>

=== Transport ===
{{Further|Transport in Sierra Leone}}

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. There are 11,700 kilometres (7,270 &nbsp;mi) of [[highway]] in Sierra Leone, of which 936&nbsp;km (582&nbsp;mi) are paved.

There are 800&nbsp;km (497&nbsp;mi) of [[waterway]]s in Sierra Leone, of which 600&nbsp;km (373&nbsp;mi) are navigable year-round. Major ports of Sierra Leone include: [[Bonthe]], [[Freetown]] and [[Pepel]]. [[Queen Elizabeth II Quay]] in Freetown represents the country's only deep water port facility capable of berthing large-hulled cargo or military vessels.

There are ten [[airport]]s in Sierra Leone, of which one - Lungi International Airport in Freetown -  has a paved runway in excess of 3000m in length.  Of the remaining airports, all of which have unpaved runways, seven have runways of lengths between {{convert|914|and|1523|m|ft|0|abbr=on}}; the remaining two having runways of shorter length. There are two [[heliport]]s in the country.{{where|date=October 2014}}

==Trade and investment==
[[Image:2006Sierra Leonean exports.PNG|thumb|350px|Sierra Leonean exports in 2006.]]
Mineral exports remain Sierra Leone's principal foreign exchange earner. Sierra Leone is a major producer of gem-quality diamonds. Though rich in this resource, the country has historically struggled to manage its exploitation and export. Annual production estimates range between $70–$250 million; however, only a fraction of that passes through formal export channels (1999: $1.2 million; 2000: $16 million; 2001: projections $25 million). The balance is smuggled out and has been used to finance rebel activities in the region, [[money laundering]], arms purchases, and financing of other illicit activities, leading some to characterize Sierra Leone's diamonds as a "[[conflict resource]]."

Recent efforts on the part of the country to improve the management of the export trade have met with some success. In October 2000, a new [[United Nations|UN]]-approved export certification system for exporting diamonds from Sierra Leone was put into place that led to a dramatic increase in legal exports. In 2001, the Government of Sierra Leone created a mining community development fund, which returns a portion of diamond export taxes to diamond mining communities. The fund was created to raise local communities' stake in the legal diamond trade.

Sierra Leone has one of the world's largest deposits of [[rutile]], a [[titanium]] ore used as paint pigment and welding rod coatings. Sierra Rutile Limited, fully owned by Nord Resources of the United States, began commercial mining operations near Bonthe in early 1979. Sierra Rutile was then the largest non-[[petroleum]] U.S. investment in West Africa. The export of 88,000 tons realized $75 million for the country in 1990.<ref>{{Cite web |title=Sierra Leone (09/05) |url=https://2009-2017.state.gov/outofdate/bgn/sierraleone/53892.htm |access-date=2025-03-06 |website=U.S. Department of State}}</ref>

The company and the Government of Sierra Leone concluded a new agreement on the terms of the company's concession in Sierra Leone in 1990. Rutile and [[bauxite]] mining operations were suspended when rebels invaded the mining sites in 1995. Negotiations for reactivation of rutile and bauxite mining are in progress. The U.S. interest in the company has been reduced to 25%.

Since independence, the Government of Sierra Leone has encouraged foreign investment, although the business climate suffers from uncertainty and a shortage of foreign exchange because of civil conflicts. Investors are protected by an agreement that allows for arbitration under the 1965 [[World Bank]] Convention. Legislation provides for transfer of interest, dividends, and capital.

=== Central Asia ===
On 8 April 2025, [[Ministry of foreign affairs|Sierra Leone’s Minister of Foreign Affairs]], [[Timothy Kabba|Timothy Musa Kabba]], paid his first official visit to [[Kazakhstan]], where he met with [[Deputy prime minister|Deputy Prime Minister]] and [[Murat Nurtileu|Foreign Minister Murat Nurtleu]]. The two countries agreed to enhance cooperation in trade, transport and logistics, healthcare, agriculture, and IT. Kazakhstan, a major global grain producer, proposed using the [[Trans-Caspian International Transport Route]] to supply African markets with food products. Additionally, the Kazakhstan Agency for International Development shared elements of its [[E-government|e-Government]] platform with Sierra Leone, building on a prior memorandum of understanding. A Roadmap for Cooperation between the foreign ministries was signed, and Sierra Leone also supported Kazakhstan’s initiative to establish a [[United Nations|UN]] Regional Center for Sustainable Development Goals in [[Almaty]].<ref>{{Cite web |last=Sakenova |first=Saniya |date=8 April 2025 |title=Kazakhstan Intensifies Cooperation with Sierra Leone |url=https://astanatimes.com/2025/04/kazakhstan-intensifies-cooperation-with-sierra-leone/ |access-date=14 April 2025 |website=Astana Times}}</ref>

== Currency and central bank ==
{{Further|Sierra Leonean leone|Bank of Sierra Leone}}

The currency is the [[Sierra Leonean leone|SLE]]. The [[central bank]] of the country is the [[Bank of Sierra Leone]], which is in the capital, Freetown. The government operates a [[floating exchange rate]] system, and foreign currencies can be exchanged at any of the commercial banks, recognized foreign exchange [[Service bureau|bureaux]], and most hotels. Credit card use is limited in Sierra Leone, though it may be used at some hotels and restaurants. There are a few internationally linked [[automated teller machine]]s that accept [[Visa card]]s in Freetown operated by ProCredit Bank.

== Membership of international economic bodies ==
Sierra Leone is a member of the [[Economic Community of West African States]] (ECOWAS). With [[Liberia]] and [[Guinea]], it formed the [[Mano River Union]] (MRU) customs union, primarily designed to implement development projects and promote regional economic integration.

The MRU has so far been inactive because of domestic problems and internal and cross-border conflicts in all three countries. The future of the MRU depends on the ability of its members to deal with the fallout from these internal and regional problems.{{citation needed|date=March 2024}}

Sierra Leone is a member of the [[WTO]].

==Statistics==
'''GDP:'''
purchasing power parity - $11.55 billion (2017 est.)

'''GDP - real growth rate:'''
3.7% (2017 est.)

'''GDP - per capita:'''
$1,600 (2017 est.)

'''Gross national saving:''' 
10% of GDP (2017 est.)

'''GDP - composition by sector:'''
<br />''agriculture:''
60.7% (2017 est.) 
<br />''industry:''
6.5% (2017 est.) 
<br />''services:''
32.9% (2017 est.)

'''Population below poverty line::'''
70.2% (2004 est.)

'''Distribution of family income - Gini index:'''
34 (2011)

'''Inflation rate (consumer prices):'''
18.2% (2017 est.)

'''Labor force:'''
2.972 million (2017 est.)

'''Labor force - by occupation:'''
<br />''agriculture:''
61.1% (2014 est.) 
<br />''industry:''
5.5% (2014 est.) 
<br />''services:''
33.4% (2014 est.)

'''Unemployment rate:'''
15% (2017 est.)

'''Budget:'''
<br />''revenues:''
562 million (2017 est.) 
<br />''expenditures:''
846.4 million (2017 est.)

'''Budget surplus (+) or deficit (-):'''
-7.9% (of GDP) (2017 est.)

'''Public debt:''' 
63.9% of GDP (2017 est.) 
 
'''Industries:'''
diamond mining; iron ore, rutile and bauxite mining; small-scale manufacturing (beverages, textiles, footwear)

'''Industrial production growth rate:'''
15.5% (2017 est.)

'''electrification:''' total population: 5% (2013)

'''electrification:''' urban areas: 11% (<span class="subfield-note"></span>2013)

'''electrification:''' rural areas: 1% (<span class="subfield-note"></span>2013)

'''Electricity - production:'''
300 million kWh  (2016 est.)

'''Electricity - production by source:'''
<br />''fossil fuel:''
23%
<br />''hydro:''
51%
<br />''nuclear:''
0%
<br />''other renewable:''
26% (2017)

'''Electricity - consumption:'''
279 million kWh  (2016 est.)

'''Electricity - exports:'''
0 kWh  (2016 est.)

'''Electricity - imports:'''
0 kWh  (2016 est.)

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

'''Exports:'''
$808.4 million  (2017 est.)

'''Exports - commodities:'''
iron ore, diamonds, rutile, cocoa, coffee, fish

'''Exports - partners:'''
Cote dIvoire 37.7%, Belgium 20.5%, US 15.7%, China 10.2%, Netherlands 6.1% (2017)

'''Imports:'''
$1.107 billion  (2017 est.)

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

'''Imports - partners:'''
China 11.5%, US 9.2%, Belgium 8.8%, UAE 7.7%, India 7.4%, Turkey 5.2%, Senegal 5.1%, Netherlands 4.3% (2017)

'''Debt - external:'''
$1.615 billion  (31 December 2017 est.)

'''Reserves of foreign exchange and gold:'''
$478 million  (31 December 2017 est.) <ref>{{Cite web|url=https://www.cia.gov/the-world-factbook/countries/sierra-leone/|title=Africa :: Sierra Leone — The World Factbook - Central Intelligence Agency|website=www.cia.gov|access-date=2018-12-11}}</ref>

== See also ==
* [[Extractive industries]]
* [[United Nations Economic Commission for Africa]]

==References==
{{Reflist}}

==External links==
* [http://www.trademap.org/open_access/Index.aspx?proceed=true&reporter=694 Sierra Leone latest trade data on ITC Trade Map]
* [https://www.cia.gov/the-world-factbook/countries/sierra-leone/ CIA World Factbook]

{{Sierra Leone topics}}
{{Africa in topic|Economy of}}
{{World Trade Organization}}

[[Category:Economy of Sierra Leone| ]]
[[Category:World Trade Organization member economies|Sierra Leone]]
[[Category:African Union member economies|Sierra Leone]]
[[Category:Blood diamonds]]