Download Sierra Leone

Sierra Leone
Introduction
Key Economic Facts
Sierra Leone is a country in Western Africa with a coast on
the Atlantic Ocean. Neighboring countries include Guinea
and Liberia. The geography includes swamps, beaches,
wooded hills, and mountains in the
interior. The government type is a
presidential republic; the chief of state and
head of government is the president.
Sierra Leone has a largely traditional
economy in which the majority of the population engages in
subsistence agriculture, and direct government involvement
in economic activity limits private sector development. Sierra
Leone is a member of the
Economic Community of West
African States (ECOWAS).
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
External debt stocks, total
(DOD, current US$):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
Western Africa
Freetown (GMT)
President Ernest Bai Koroma
President Ernest Bai Koroma
Sierra Leonean Leone (SLL)
English (official, regular use limited to
literate minority), Mende (principal
vernacular in the south), Temne
(principal vernacular in the north), Krio
(English-based Creole, spoken by the
descendants of freed Jamaican slaves
who were settled in the Freetown
area, a lingua franca and a first
language for 10% of the population
but understood by 95%)
Primary Religions: Muslim 60%, Christian 10%,
indigenous beliefs 30%
Calling Code: 232
Voltage: 230
Key Websites
Main Government Page: statehouse.gov.sl
Export Promotion Agency: sliepa.org
Investment Promotion sliepa.org
Agency:
Risk Assessment (Provided by Coface)
Low Income
Developing
$10.13 billion (2015)
-20.60% (2015)
$1,569.32 (2015)
$1,378,145,000.00 (2015)
1.85% (2015)
-$0.91 billion (2014)
8.01% (2015)
2,552,352 (2016)
2.99% (2016)
$2.00 billion (2015)
$0.82 billion (2015)
GDP Composition %
Agriculture
Industry
Manufacturing
5
2
Services
61
34
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Global Competitiveness Index
Global Enabling Trade Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Open Budget Index
Rank
123 / 176
132 / 138
128 / 136
145 / 180
155 / 160
112 / 139
152 / 187
38 / 102
Country rating: D - A high-risk political and economic
situation and an often very difficult business environment
can have a very significant impact on corporate payment
behavior. Corporate default probability is very high.
Business Climate rating: D - The business environment is
very difficult. Corporate financial information is rarely
available and when available usually unreliable. The legal
system makes debt collection very unpredictable. The
institutional framework has very serious weaknesses.
Intercompany transactions can thus be very difficult to
manage in the highly risky environments rated D.
Strengths
• Significant mineral resources (iron, diamonds, rutile
and gold)
• Production of coffee, rice and cocoa
• Potential for tourism
• International financial support
• Significant port activity, set to increase
Weaknesses
• Vulnerability to meteorological conditions
• High level of dependency on commodities prices
• Corruption, insufficiently protected ownership rights
• Insufficient infrastructure, failing healthcare system
• Difficulty accessing credit for small and medium-sized
companies
• Extreme poverty, high levels of unemployment
• Risk of resurgence of Ebola virus epidemic
U.S. Embassy
Southridge - Hill Station
Freetown, Sierra Leone
1701 19th Street NW,
Washington, DC 2009
Tel: +202 939 9261
http://freetown.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV