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Indicators of economy in Sierra Leone

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Sierra Leone reached 509 US dollars per inhabitant, or 4.06 bn US Dollar in the whole country. Sierra Leone is currently at number 165 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then Sierra Leone is in the list of the world's richest countries in place 180.

Inflation in Sierra Leone was in 2021 at around 11.87%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 68.8% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Sierra Leone

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Sierra Leone in 2020 decreased moderatly from 4.08 billion US Dollar to 4.06 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 0.33% is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 4.6 to 5.2 percent. The inflation rate has fallen from 14.8 percent previously to 13.4 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Sierra Leone
Total
Sierra Leone
per capita
EU
Total
EU
per capita
GDP4.06 bn USD509.38 USD15,291.93 tn USD29,692.11 USD
Gross national product4.06 bn USD509.14 USD15,330.84 tn USD29,767.66 USD


Development of gross domestic product in million US Dollar 1960 - 2020



Im- and Exports 2020

 Sierra Leone
Total
Sierra Leone
per capita
EU
Total
EU
per capita
Imports1.82 bn USD227.91 USD7,340.01 bn USD14,251.98 USD
Exports741.70 m USD92.98 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1977 - 2020

Exports
Imports



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