Sierra Leone
Description of Sierra Leone
Sierra Leone, a country nestled on the west coast of Africa, holds a complex tapestry of historical, political, and economic significance. With a rich cultural heritage, diverse natural resources, and a striving population, Sierra Leone stands at a pivotal juncture in its development trajectory. Through a nuanced exploration of its macroeconomic indicators, geopolitical positioning, and regional dynamics, this website aims to provide insightful analysis on how Sierra Leone navigates the intricate challenges and opportunities shaping its future.
Population And Age Structure
Population, total: Sierra Leone's population of 8,233,970 is significantly below the average population of 40,097,746. Sierra Leone is ranked 101 out of 194 countries.
Population ages 0-14 (% of total population): Sierra Leone's percentage of population ages 0-14 at 39.79% is above the average of 27.34%. The country is ranked 34 out of 194 countries.
Population ages 0-14, total: With a total of 3,275,899 children aged 0-14, Sierra Leone is below the average of 10,327,379. The country is ranked 83 out of 194 countries.
Population ages 15-64 (% of total population): Sierra Leone's percentage of population ages 15-64 is 57.07%, below the average of 63.44%. The country is ranked 157 out of 194 countries.
Population ages 15-64, total: The total population aged 15-64 in Sierra Leone is 4,698,935, significantly below the average of 26,003,407. Sierra Leone is ranked 102 out of 194 countries.
Population ages 65 and above (% of total population): With 3.15% of the population aged 65 and above, Sierra Leone is below the average of 9.22%. The country is ranked 160 out of 194 countries.
Population ages 65 and above, total: Sierra Leone has 259,136 elderly individuals aged 65 and above, below the average of 3,766,959. The country is ranked 130 out of 194 countries.
Summary
Sierra Leone has a relatively small total population compared to the global average, with a higher percentage of children aged 0-14 and a lower percentage of individuals aged 15-64. The number of elderly individuals aged 65 and above is also below the average. These demographic indicators are crucial for policymakers and stakeholders as they provide insights into the country's dependency ratio, healthcare needs, education requirements, and potential workforce size for future economic development strategies.
Population Miscellaneous
Sierra Leone has a rural population of 4,699,703, which is below the average of 18,044,041. Sierra Leone is ranked 78th out of 190 countries in terms of rural population.
The rural population (% of total population) in Sierra Leone is 57.077%, higher than the average of 41.158%. The country ranks 54th out of the 190 countries included in the data for this attribute.
Sierra Leone's urban population is 3,534,267, significantly below the average urban population of 22,425,747. Sierra Leone is ranked 112th out of 194 countries for urban population.
The urban population (% of total population) in Sierra Leone is 42.923%, lower than the average of 59.691%. The country ranks 141st out of the 194 countries in this attribute.
Sierra Leone has an age dependency ratio (% of working-age population) of 75.23%, higher than the average of 59.22%. The country ranks 38th out of 194 countries for this ratio.
The crude birth rate in Sierra Leone is 31.914 births per 1,000 people, which is above the average of 19.384. This places Sierra Leone at 27th out of 192 countries for crude birth rate.
Sierra Leone's crude death rate is 9.296 deaths per 1,000 people, slightly higher than the average of 8.214. The country ranks 58th out of 192 countries for crude death rate.
The total fertility rate in Sierra Leone is 4.08 births per woman, surpassing the average of 2.603. Sierra Leone is ranked 31st out of 190 countries in terms of fertility rate.
Summary
Sierra Leone has a predominantly rural population, with a higher rural population percentage compared to the global average. The country also has a higher age dependency ratio and crude birth rate, indicating a relatively young population with potentially higher future workforce participation and economic growth challenges.
These macroeconomic indicators are crucial as they provide insights into Sierra Leone's demographic structure, workforce composition, and future population trends. Understanding these factors is essential for policymakers to implement targeted strategies for sustainable economic development, healthcare, and social welfare programs to support the country's growing population.
Military
Sierra Leone's military expenditure is $22,374,596.48, significantly below the average of $12,904,993,617.17 for 149 countries. Sierra Leone ranks 143rd out of 149 countries in military expenditure.
The country's military expenditure as a percentage of GDP is 0.55%, notably lower than the average of 1.90% for 148 countries. Sierra Leone is ranked 138th out of 148 countries in this aspect.
Sierra Leone has 9,000 armed forces personnel, much lower than the average of 165,908.54 for 164 countries. The country ranks 138th out of 164 countries in total armed forces personnel.
Sierra Leone's armed forces personnel as a percentage of the total labor force is 0.34%, well below the average of 1.28% for 164 countries. The country is ranked 139th out of 164 countries in this metric.
Summary
Sierra Leone's military expenditure, percentage of GDP spent on the military, total armed forces personnel, and armed forces personnel as a percentage of the total labor force are all significantly below global averages, with the country ranking quite low among the countries surveyed. These indicators suggest that Sierra Leone prioritizes other areas over defense spending and has a relatively smaller military presence compared to its peers, possibly indicating a focus on non-military development priorities or limited capacity for defense spending.
Natural Resources
- Sierra Leone has a Forest area of 25,348.8 sq. km, ranking 96 out of 191 countries, which is below the average of 211,606.1 sq. km.
- The Land area in Sierra Leone is 72,180 sq. km, ranking 116 out of 194 countries, lower than the average of 665,166.5 sq. km.
- Sierra Leone's Surface area is 72,300 sq. km, ranking 119 out of 194 countries, below the average of 689,779.6 sq. km.
- In terms of Arable land, Sierra Leone has 1,584,000 hectares, ranking 89 out of 190 countries, which is below the average of 7,329,543.2 hectares.
- The Land under cereal production in Sierra Leone covers 716,409 hectares, ranking 90 out of 174 countries, lower than the average of 4,206,011.6 hectares.
- Sierra Leone receives an Average precipitation of 2526 mm per year, ranking 12 out of 178 countries, higher than the average of 1157.8 mm per year.
- The Renewable internal freshwater resources in Sierra Leone total 160 billion cubic meters, ranking 42 out of 178 countries, which is below the average of 240.4 billion cubic meters.
Summary
Sierra Leone has relatively small forest area, land area, and arable land compared to the global average. However, it receives above-average precipitation levels and has below-average renewable internal freshwater resources. These indicators are crucial for assessing the country's potential for agriculture, forestry, and water resource management, which are vital for economic development and environmental sustainability.
Resource Rents
Sierra Leone's Total natural resources rents (% of GDP) stand at 8.23%, which is notably higher than the average of 4.63%. This places Sierra Leone at rank 38 out of 175 countries in the dataset.
For Forest rents (% of GDP), Sierra Leone's value of 8.23% exceeds the average of 1.53% significantly, ranking the country as 8th out of 174 countries.
In terms of Mineral rents (% of GDP), Sierra Leone's value of 0.004% is well below the average of 1.23%, positioning the country at rank 81 out of 86 countries in the dataset.
Summary
Sierra Leone stands out in terms of its total natural resources rents and forest rents compared to the global averages, ranking 38th and 8th respectively out of all countries in the dataset. However, the country lags behind in mineral rents, ranking 81st out of 86 countries. These indicators are crucial as they highlight Sierra Leone's economic dependence on natural resources, particularly forests, and suggest areas for potential growth and diversification to reduce vulnerability to fluctuations in mineral resources sector.
Commodities
Sierra Leone's Cereal production is significantly below the average at 1170410.67 metric tons, ranking 104 out of 174 countries. For Aquaculture production, with only 115 metric tons, Sierra Leone ranks 147 out of 180 countries, well below the average. In Capture fisheries production, Sierra Leone produces 200630 metric tons, ranking 57 out of 190 countries, above the average. Total fisheries production in Sierra Leone stands at 200745 metric tons, ranking 60 out of 182 countries, below the average. Lastly, Sierra Leone's Fertilizer consumption of 19.102 kilograms per hectare of arable land is also below the average, ranking 143 out of 187 countries.
Summary
Sierra Leone faces challenges in cereal and aquaculture production, ranking below average globally. However, the country performs relatively well in capture fisheries production, exceeding the global average. Despite this, its total fisheries production still falls short of the average. Furthermore, Sierra Leone's low fertilizer consumption indicates potential limitations in agricultural productivity and sustainability, highlighting the need for increased investment and modernization in the agricultural sector to enhance food security and economic development.
Intellectual Property
Sierra Leone has 4 patent applications by nonresidents, significantly below the attribute average of 6538. The country is ranked 119th out of 129 countries for this attribute.
Trademark applications by nonresidents in Sierra Leone amount to 2129, below the average of 15878. Sierra Leone ranks 99th out of 130 countries for this attribute.
For trademark applications by residents, Sierra Leone has 160 applications, well below the average of 111055. The country is ranked 115th out of 129 countries.
Sierra Leone produces 65.14 scientific and technical journal articles, significantly lower than the average of 15103. The country ranks 140th out of 192 countries for this attribute.
Charges for the use of intellectual property in Sierra Leone are $1,266,142.98, notably below the average of $3,218,843,494.39. The country ranks 126th out of 143 countries in this category.
Summary
Sierra Leone lags behind the global average in key indicators related to innovation and intellectual property, such as patent and trademark applications, scientific publications, and charges for intellectual property use. These statistics suggest a lower level of innovation and investment in research and development within the country, impacting its competitiveness and ability to harness intellectual property for economic growth and development.
Broad Economy Attributes
Sierra Leone's GDP (current US$) is $4,062,906,265.73, which is significantly below the average of $442,870,224,838.68, ranking 153rd out of 189 countries.
The country's GDP per capita (current US$) stands at $493.43, much lower than the average of $15,462.11. This places Sierra Leone at 186th out of 190 countries in the dataset.
Sierra Leone's GNI (current US$) is $3,984,876,896.85, far below the average of $452,040,815,370.70, ranking 151st out of 185 countries.
In terms of GNI per capita, PPP (current international $), Sierra Leone's value of $1,640 is well below the average of $20,615.75, placing the country at 171st out of 181 countries in the dataset.
Summary
Sierra Leone ranks significantly lower in key macroeconomic indicators compared to the global average and other countries. With a low GDP, GDP per capita, GNI, and GNI per capita, the country faces economic challenges that hinder its development and overall well-being of its citizens. These statistics highlight the need for targeted interventions, such as infrastructure investment, human capital development, and economic diversification, to uplift Sierra Leone's economy and improve the quality of life for its population.
Broad Value Added
- Sierra Leone's Gross Value Added at Basic Prices (GVA) is significantly below the attribute average,
ranking 145th out of 176 countries.
- Agriculture, forestry, and fishing contribute significantly to Sierra Leone's GDP, with a value added
percentage of 59.49%, well above the average, and ranking 1st out of 182 countries.
- The country's Agriculture, forestry, and fishing value added in current USD is below the average,
ranking 103rd out of 182 countries.
- Sierra Leone's Services value added as a percentage of GDP is notably below the average, ranking 183rd
out of 183 countries.
- The Services value added in current USD for Sierra Leone is significantly below the average, placing the
country 159th out of 183 countries.
- The Industry value added (including construction) in current USD for Sierra Leone is also notably below
average, ranking 170th out of 183 countries.
Summary
Sierra Leone's economy heavily relies on agriculture, forestry, and fishing, with these sectors contributing significantly to the country's GDP and ranking among the highest globally. However, the Services and Industry sectors in Sierra Leone are notably underdeveloped compared to the global average, with Services particularly lagging behind. This imbalance in economic diversification highlights the need for Sierra Leone to focus on developing its Services and Industry sectors to create a more resilient and balanced economy.
Manufacturing Value Added
Sierra Leone's Manufacturing, value added (current US$) is $76,581,952.24, below the attribute average of $76,207,179,589.66. It ranks 160 out of 173 countries in the dataset.
Furthermore, Sierra Leone's Manufacturing, value added (% of GDP) is 1.88%, significantly below the attribute average of 11.90%. This places Sierra Leone at rank 168 out of 173 countries in the dataset.
Summary
Sierra Leone's manufacturing sector contributes $76,581,952.24 to its economy, ranking 160 out of 173 countries. In addition, the sector accounts for only 1.88% of the country's GDP, placing Sierra Leone at 168 in the dataset. These low rankings indicate a relatively small and underdeveloped manufacturing industry in Sierra Leone, highlighting the need for potential investment and growth strategies to diversify the economy and boost industrial output for sustainable development.
Money
Sierra Leone demonstrates a higher-than-average inflation rate based on consumer prices, with a value of 13.45% compared to the average of 8.26%. The country ranks 11th out of 165 countries in this metric.
Additionally, Sierra Leone's GDP deflator inflation is above average, at 10.91% compared to the average of 6.90%. The country holds the 15th rank out of 188 countries in this category.
Sierra Leone exhibits a significantly high broad money growth rate of 38.18% compared to the average of 18.03%, placing it 7th out of 139 countries in this aspect.
However, Sierra Leone's broad money as a percentage of GDP is below the average at 29.52% versus 71.75%. The country ranks 124th out of 139 countries in this regard.
Finally, Sierra Leone's broad money to total reserves ratio is lower than the average at 1.69%, as opposed to 5.17%. It holds the 101st rank out of 126 countries in this ratio.
Summary
Sierra Leone demonstrates higher-than-average inflation rates in both consumer prices and GDP deflator inflation, ranking 11th and 15th globally, respectively. Despite a significantly high broad money growth rate, the country's broad money as a percentage of GDP and broad money to total reserves ratio fall below average, ranking 124th and 101st, respectively. These indicators are important as they reflect the economic stability, monetary policy effectiveness, and financial health of Sierra Leone compared to other countries.
Consumption Expenditure
Final consumption expenditure (current US$): Sierra Leone's final consumption expenditure is $4,439,738,972.63, which is significantly below the average of $381,630,252,515.38. Sierra Leone ranks 136th out of 159 countries in this attribute.
Final consumption expenditure (% of GDP): Sierra Leone's final consumption expenditure as a percentage of GDP is 109.27%, which is above the average of 82.37%. Sierra Leone ranks 12th out of 159 countries in this attribute.
General government final consumption expenditure (current US$): Sierra Leone's general government final consumption expenditure is $328,677,476.45, far below the average of $93,676,578,238.03. Sierra Leone ranks 149th out of 158 countries in this attribute.
General government final consumption expenditure (% of GDP): Sierra Leone's general government final consumption expenditure as a percentage of GDP is 8.09%, which is below the average of 18.71%. Sierra Leone also ranks 149th out of 158 countries in this attribute.
Household and NPISHs Final consumption expenditure (current US$): Sierra Leone's household and NPISHs final consumption expenditure is $4,111,061,496.18, significantly lower than the average of $290,127,571,157.69. Sierra Leone ranks 132nd out of 158 countries in this attribute.
Households and NPISHs final consumption expenditure (% of GDP): Sierra Leone's household and NPISHs final consumption expenditure as a percentage of GDP is 101.19%, which is above the average of 63.68%. Sierra Leone is ranked 2nd out of 158 countries in this attribute.
Summary
Sierra Leone has relatively low final consumption expenditure compared to the global average but ranks quite high in terms of final consumption expenditure as a percentage of GDP, particularly in the category of Household and NPISHs final consumption expenditure. This indicates that a significant portion of Sierra Leone's GDP goes towards consumption, especially by households and non-profit institutions serving households, highlighting the importance of domestic consumption in driving economic activity in the country.
Investment
1. Sierra Leone received a net Foreign Direct Investment (FDI) of -172,699,178.42 USD. This is below the attribute average of -1,615,235,980.51 USD. Sierra Leone ranks 73rd out of 169 countries in terms of net FDI.
2. The net inflows of FDI in Sierra Leone amount to 172,699,178.42 USD, which is lower than the attribute average of 5,749,271,080.15 USD. Sierra Leone is ranked 117th out of 182 countries for net FDI inflows.
3. FDI net inflows account for 4.25% of Sierra Leone's GDP, surpassing the attribute average of 2.61%. Sierra Leone holds the 47th rank out of 178 countries regarding FDI inflows as a percentage of GDP.
Summary
Sierra Leone's net FDI of -172,699,178.42 USD is significantly below the global average, ranking 73rd out of 169 countries. While the country's net inflows of FDI are low at 172,699,178.42 USD, it ranks even lower at 117th out of 182 countries. However, FDI inflows as a percentage of Sierra Leone's GDP are relatively high at 4.25%, surpassing the global average and securing a 47th position. These indicators are crucial as they reflect the level of foreign investment flowing into the country, impacting its economic growth, job creation, technology transfer, and overall development.
Debt
Total debt service (% of GNI): Sierra Leone's value is 2.42%, which is below the average of 5.98%. It ranks 84th out of 120 countries.
Public and publicly guaranteed debt service (% of GNI): Sierra Leone's value is 1.27%, lower than the average of 2.84%. It ranks 87th out of 120 countries.
External debt stocks (% of GNI): Sierra Leone's value is 52.93%, below the average of 65.42%. It ranks 62nd out of 120 countries.
Debt service on external debt, total (TDS, current US$): Sierra Leone's value is $96,510,703.7, significantly lower than the average of $9,811,195,839.23. It ranks 99th out of 123 countries.
Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Sierra Leone's value is $50,801,420.9, below the average of $3,310,612,057.60. It ranks 102nd out of 123 countries.
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Sierra Leone's value is $1,273,294,493.80, significantly lower than the average of $28,695,879,144.98. It ranks 102nd out of 123 countries.
External debt stocks, total (DOD, current US$): Sierra Leone's value is $2,109,178,656.60, well below the average of $73,845,530,111.82. It ranks 100th out of 123 countries.
Summary
Sierra Leone demonstrates responsible debt management with its total debt service, public and publicly guaranteed debt service, and external debt stocks all below global averages. The country ranks relatively low among its peers in terms of debt burden. This is crucial as it signifies Sierra Leone's ability to meet its financial obligations without being overly burdened by debt, thereby maintaining financial stability and fostering potential for economic growth.
Broad Trade Attributes
Sierra Leone's Trade (% of GDP) is 51.56%, below the average of 82.34%. It ranks 114 out of 163 countries in this attribute. The Merchandise trade (% of GDP) for Sierra Leone is 63.23%, above the average of 60.01%. It holds a rank of 58 out of 186 countries. Sierra Leone's Trade in services (% of GDP) stands at 5.37%, significantly lower than the average of 24.63%. It is ranked 161 out of 171 countries. The country has an External balance on goods and services (current US$) of -868,478,626.55, below the average of $3,405,509,011.13, ranking at 102 out of 163 countries. Sierra Leone's External balance on goods and services (% of GDP) is at -21.38%, much lower than the average of -5.97%, placing it at 144 out of 163 countries.
Summary
Sierra Leone's trade as a percentage of its GDP is below the global average, indicating potential room for growth in international trade activities. Despite having a merchandise trade percentage above average, its services trade lags significantly behind, highlighting an area for development. The negative external balance on goods and services suggests that Sierra Leone is importing more than it is exporting, which could impact its overall economic stability and growth prospects.
Net Trade
Sierra Leone's current account balance is -$320,411,343.91, ranking 95th out of 170 countries. This value is below the average of $1,443,864,831.49.
The current account balance as a percentage of GDP for Sierra Leone is -7.89%, ranking 134th out of 170 countries. This percentage is below the average of -2.36%.
Sierra Leone's net trade in goods and services is -$724,488,374.52, ranking 103rd out of 171 countries. This value is lower than the average of $2,604,730,003.57.
The net primary income for Sierra Leone is -$26,641,344.34, ranking 52nd out of 170 countries. This figure is above the average of -$903,807,529.74.
Sierra Leone's net secondary income is $430,718,374.96, ranking 83rd out of 170 countries. This amount is higher than the average of -$269,227,340.40.
The net trade in goods for Sierra Leone is -$612,497,086.19, ranking 93rd out of 171 countries. This value is below the average of $1,302,831,005.68.
Sierra Leone's net capital account is $84,799,596.59, ranking 71st out of 159 countries. This value is below the average of $136,543,824.05.
The net financial account for Sierra Leone is -$338,954,880.10, ranking 96th out of 170 countries. This amount is above the average of -$469,840,994.63.
Summary
Sierra Leone exhibits a negative current account balance, ranking below average globally. The country's net trade in goods and services is also negative, positioning it lower than the average. However, Sierra Leone's net secondary income surpasses the global average, indicating a relative strength in this area. These indicators are crucial as they reflect Sierra Leone's economic performance in international trade, income generation, and financial flows, highlighting areas that may require attention for sustainable economic growth and stability.
Broad Export Attributes
- Sierra Leone's exports of goods, services, and primary income amount to $676,704,959.63, significantly
lower than the average of $146,238,908,936.30, ranking at 153 out of 170 countries.
- The country's exports of goods and services totaling $661,505,031.94 are notably below the average of
$122,938,540,059.78, placing Sierra Leone at the 153rd position out of 170 nations in the dataset.
- Sierra Leone's current exports of goods and services stand at $613,136,028.38, falling short of the
average of $129,596,864,610.19, with a rank of 147 out of 163 countries.
- With goods and services exports amounting to 15.09% of GDP, Sierra Leone is below the average of 38.19%,
ranking 142 out of 163 countries in the dataset.
- Sierra Leone's goods exports at $608,497,105.22 are notably lesser than the average of
$93,310,581,697.39, positioning the country at 146 out of 171 nations.
Summary
Sierra Leone's exports of goods, services, and primary income are significantly lower than global averages, ranking the country at low positions in terms of export performance among a large group of nations. This could indicate a need for diversified export markets, enhanced export capabilities, and increased competitiveness to strengthen and grow the country's economy.
Merchandise Exports
Sierra Leone's merchandise exports amount to $423 million, significantly below the average of $89.54 billion. The country ranks 158 out of 187 countries in terms of merchandise exports.
Additionally, Sierra Leone's residual merchandise exports account for 0.014% of total merchandise exports, far lower than the average of 3.20%. This places Sierra Leone at rank 132 out of 166 countries in this category.
Summary
Sierra Leone's merchandise exports of $423 million are notably lower than the global average of $89.54 billion, ranking the country 158th out of 187 countries. Furthermore, Sierra Leone's residual merchandise exports represent only 0.014% of the total, placing the country at 132nd out of 166 countries in this aspect. These findings are crucial as they indicate that Sierra Leone has a relatively small share of the global export market and limited diversification in its export products, which could impact the country's economic growth and stability.
Service Exports
- Service exports (BoP, current US$): Sierra Leone's value of 53,007,926.72 is significantly below the average of 28,917,292,503.82. This places Sierra Leone at rank 162 out of 171 countries.
- ICT service exports (BoP, current US$): Sierra Leone's value of 3,137,889.46 is notably below the average of 4,578,501,153.77. This places Sierra Leone at rank 155 out of 166 countries.
- ICT service exports (% of service exports, BoP): Sierra Leone's value of 5.92% is lower than the average of 11.75%. This places Sierra Leone at rank 107 out of 166 countries.
- Communications, computer, etc. (% of service exports, BoP): Sierra Leone's value of 6.61% is considerably below the average of 45.85%. This places Sierra Leone at rank 166 out of 169 countries.
- Transport services (% of service exports, BoP): Sierra Leone's value of 12.55% is lower than the average of 21.80%. This places Sierra Leone at rank 105 out of 169 countries.
- Travel services (% of service exports, BoP): Sierra Leone's value of 72.95% is significantly higher than the average of 26.40%. This places Sierra Leone at rank 10 out of 167 countries.
- Insurance and financial services (% of service exports, BoP): Sierra Leone's value of 7.90% is above the average of 6.46%. This places Sierra Leone at rank 43 out of 161 countries.
Summary
Sierra Leone's macroeconomic indicators reveal a mixed performance in its service exports. While the country excels in travel services, ranking 10th out of 167 countries, it lags behind in ICT and communications services, placing 155th and 166th respectively. The importance of these findings lies in highlighting Sierra Leone's strengths and weaknesses in different service export sectors, which can guide strategic decisions to diversify and enhance its export capabilities.
Commercial Service Exports
Sierra Leone's commercial service exports amount to $53,007,926.72, ranking 162nd out of 171 countries in the dataset. This value is significantly below the attribute average of $28,508,218,402.80.
Travel services account for 72.95% of Sierra Leone's commercial service exports, ranking 11th out of 167 countries. This percentage is well above the attribute average of 27.89%.
Sierra Leone's computer, communications, and other services contribute to 6.61% of its commercial service exports, placing it at the 160th rank out of 169 countries. This value is notably below the attribute average of 42.44%.
The country's insurance and financial services constitute 7.90% of its commercial service exports, positioned at the 45th rank out of 161 countries. Sierra Leone's value surpasses the attribute average of 6.97%.
Transport services make up 12.55% of Sierra Leone's commercial service exports, ranking 109th out of 169 countries. This percentage falls below the attribute average of 23.37%.
Summary
Sierra Leone relies heavily on travel services for its commercial service exports, far exceeding the global average in this category. However, the country lags behind in computer, communications, and other services, as well as transport services. The notable proportion of travel services indicates a potential area for growth and diversification, while addressing the underperformance in other service sectors could help improve the country's overall economic resilience and competitiveness in the global market.
Broad Import Attributes
Sierra Leone's imports of goods and services amount to $1,481,614,654.92, which is significantly below the average of $126,191,355,599.06. This places Sierra Leone at rank 141 out of 163 countries in the dataset.
For imports of goods and services as a percentage of GDP, Sierra Leone's value is 36.47%, lower than the average of 44.15%. This places Sierra Leone at rank 85 out of 163 countries.
Sierra Leone's goods imports amount to $1,220,994,191.41, notably lower than the average of $92,007,788,027.17. This places Sierra Leone at rank 148 out of 171 countries.
Sierra Leone's imports of goods and services (Balance of Payments) stand at $1,385,993,406.46, significantly lower than the average of $120,321,577,988.12. This places Sierra Leone at rank 149 out of 170 countries.
Finally, Sierra Leone's imports of goods, services, and primary income (BoP) amount to $1,427,834,678.49, which is notably below the average of $144,514,428,722.28. This places Sierra Leone at rank 150 out of 170 countries.
Summary
Sierra Leone's imports of goods and services are notably below the global average, placing the country at ranks 141, 85, 148, 149, and 150 out of various country groupings. This indicates that Sierra Leone has a relatively smaller import volume compared to other countries in the dataset, reflecting potential limitations in the country's domestic consumption, industrial capacity, or trade relationships.
Merchandise Imports
Sierra Leone's Merchandise imports amount to $2.14 billion, which is significantly below the average of $89.39 billion. The country ranks 146th out of 190 countries in this attribute.
Moreover, Sierra Leone's Merchandise imports by the reporting economy, residual (% of total merchandise imports) stands at 0.64%, well below the average of 2.51%. In this aspect, Sierra Leone ranks 77th out of 180 countries.
Summary
Sierra Leone's merchandise imports are notably lower than the global average, ranking 146th out of 190 countries in total merchandise imports. Additionally, the country's reliance on residual imports is significantly lower than the international average, placing it at the 77th position out of 180 countries. These indicators suggest that Sierra Leone may have a more constrained access to foreign goods and services compared to other nations, which could impact its trade balance, economic development, and overall integration into the global economy.
Service Imports
Service imports (BoP, current US$): Sierra Leone's value for service imports is significantly below the average of $27,615,356,170.47. With a rank of 159 out of 171 countries, Sierra Leone has limited service imports compared to other nations.
Communications, computer, etc. (% of service imports, BoP): Sierra Leone's percentage for communications, computer, etc. as part of service imports is much lower than the average of 44.40%. Ranking 166 out of 169 countries, Sierra Leone allocates a small portion of its service imports to these sectors.
Transport services (% of service imports, BoP): Sierra Leone allocates a high percentage (66.87%) of its service imports to transport services, well above the average of 32.90%. This places Sierra Leone at a high rank of 6 out of 169 countries in terms of prioritizing transport services.
Travel services (% of service imports, BoP): The percentage of service imports allocated to travel services in Sierra Leone is below the average of 14.14% at 7.35%. With a rank of 117 out of 169 countries, Sierra Leone gives relatively less importance to travel services in its imports.
Insurance and financial services (% of service imports, BoP): Sierra Leone's allocation of 16.98% of service imports to insurance and financial services is well above the average of 8.53%. Ranked 19 out of 169 countries, Sierra Leone demonstrates a relatively high prioritization of these services in its imports.
Summary
Sierra Leone's key macroeconomic indicators for service imports highlight a unique pattern. While the country has limited overall service imports compared to the global average, it allocates a high percentage to transport services and insurance/financial services, surpassing the global averages significantly. This strategic allocation suggests that Sierra Leone places a higher emphasis on developing its transportation infrastructure and financial sector compared to other service areas, potentially indicating a strategic economic focus on improving logistics and financial stability for long-term growth and development.
Commercial Service Imports
Sierra Leone's Commercial service imports amount to $157,837,534.56, ranking 158th out of 171 countries. This value is significantly below the average of $27,102,746,128.60 for this attribute.
Computer, communications, and other services contribute 4.66% to Sierra Leone's commercial service imports, ranking 166th out of 169 countries. This percentage is much lower than the average of 41.71%.
Sierra Leone's Insurance and financial services make up 17.75% of its commercial service imports, ranking 19th out of 169 countries. This value is notably higher than the average of 8.85%.
Transport services constitute a significant 69.91% of Sierra Leone's commercial service imports, placing the country 8th out of 169 countries. This percentage is far above the average of 34.71%.
Travel services contribute 7.68% to Sierra Leone's commercial service imports, positioning the country 115th out of 169. This figure is lower than the average of 14.73%.
Summary
Sierra Leone's commercial service imports are notably lower than the global average, with a significant portion consisting of transport services. Interestingly, the country's insurance and financial services have a higher than average contribution to commercial service imports. These indicators are important as they reflect Sierra Leone's reliance on transport services for trade and suggest opportunities for growth and diversification in other service sectors.
Information Technology Infrastructure
- Sierra Leone has 52 secure internet servers, significantly below the average of 458,294.19 servers per
country, ranking 172 out of 193 countries.
- The country has 6.32 secure internet servers per 1 million people, much lower than the average of
14,067.17 servers, placing it at rank 180 out of 193 countries.
- Only 18% of the population in Sierra Leone uses the internet, a figure well below the average of 64.77%.
This places Sierra Leone at rank 170 out of 180 countries.
- With 180 fixed broadband subscriptions, Sierra Leone falls far below the average of 6,591,956.35
subscriptions per country, ranking 184 out of 185 countries.
- The country has 6,884,201 mobile cellular subscriptions, significantly lower than the average of
42,526,463.87 subscriptions per country, placing Sierra Leone at rank 106 out of 193 countries.
Summary
Sierra Leone lags behind global averages in key macroeconomic indicators related to internet access and communication infrastructure. With significantly fewer secure internet servers, low internet penetration, and limited broadband subscriptions compared to worldwide averages, the country faces challenges in digital connectivity and technological advancement. These statistics highlight the importance of investment in ICT infrastructure and digital literacy initiatives to bridge the digital divide and spur economic growth through enhanced connectivity and access to information.
Energy Consumption
Sierra Leone's renewable energy consumption is quite impressive, standing at 75.07% of total final energy consumption. This is significantly higher than the global average of 32.18%. The country ranks 24th out of 191 countries in this aspect.
On the other hand, Sierra Leone's CO2 emissions are relatively low at 1048 kt, significantly below the average of 171895.94 kt. In this category, Sierra Leone is ranked 157th out of 188 countries included in the data.
Summary
Sierra Leone excels in renewable energy consumption, surpassing the global average by a wide margin and ranking impressively 24th globally. Conversely, the country maintains low CO2 emissions, ranking 157th out of 188 countries. These statistics indicate Sierra Leone's commitment to sustainability and environmental responsibility, positioning it favorably in the global arena for attracting eco-conscious investments and partnerships.
Government Balance Sheet
Sierra Leone's total reserves as a percentage of total external debt stand at 33.55%, which is below the average of 66.13%. This places Sierra Leone at rank 54 out of 102 countries in the dataset for this attribute.
In terms of reserves and related items in current US dollars, Sierra Leone's value is $28,402,814.43, significantly below the average of $1,924,407,186.58. This places Sierra Leone at rank 87 out of 171 countries.
Sierra Leone's total reserves minus gold is $707,703,898.13, much lower than the average of $74,221,588,171.61. This puts Sierra Leone at rank 131 out of 161 countries in this aspect.
When considering Sierra Leone's total reserves including gold, which amount to $707,703,898.13, this value is notably lower than the average of $85,708,019,773.47. Sierra Leone is ranked 133 out of 161 countries for this metric.
Sierra Leone's total reserves in months of imports is 5.95, below the average of 7.10. Thus, Sierra Leone ranks 70 out of 151 countries in this regard.
Summary
Sierra Leone's total reserves as a percentage of total external debt, reserves in current US dollars, total reserves minus gold, total reserves including gold, and total reserves in months of imports are all significantly below the respective global averages. These indicators point to potential vulnerability in Sierra Leone's financial stability and ability to meet its external obligations, as the country ranks relatively low compared to other nations in the dataset. Addressing these deficiencies and improving reserve levels can enhance Sierra Leone's economic resilience and credibility in the international financial markets.
Taxes
- The Tariff rate applied in Sierra Leone is 14.05%, which is significantly higher than the attribute
average of 5.21%. Sierra Leone ranks 6th out of 153 countries in this category.
Summary
Sierra Leone has a relatively high tariff rate of 14.05%, ranking 6th out of 153 countries analyzed, well above the global average of 5.21%. This indicates that Sierra Leone imposes higher import taxes, which can affect international trade dynamics, local industries' competitiveness, and overall economic growth in the country.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Average precipitation in depth (mm per year) | 12/178 |
| Forest rents (% of GDP) | 8/174 |
| Agriculture, forestry, and fishing, value added (% of GDP) | 1/182 |
| Inflation, consumer prices (annual %) | 11/165 |
| Inflation, GDP deflator (annual %) | 15/188 |
| Broad money growth (annual %) | 7/139 |
| Final consumption expenditure (% of GDP) | 12/159 |
| Households and NPISHs final consumption expenditure (% of GDP) | 2/158 |
| Travel services (% of service exports, BoP) | 10/167 |
| Travel services (% of commercial service exports) | 11/167 |
| Transport services (% of service imports, BoP) | 6/169 |
| Transport services (% of commercial service imports) | 8/169 |
| Tariff rate, applied, weighted mean, all products (%) | 6/153 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Military expenditure (current USD) | 143/149 |
| Military expenditure (% of GDP) | 138/148 |
| Mineral rents (% of GDP) | 81/86 |
| Patent applications, nonresidents | 119/129 |
| GDP per capita (current US$) | 186/190 |
| GDP per capita, PPP (current international $) | 171/181 |
| GNI per capita, PPP (current international $) | 171/181 |
| Services, value added (% of GDP) | 183/183 |
| Industry (including construction), value added (current US$) | 170/183 |
| Manufacturing, value added (current US$) | 160/173 |
| Manufacturing, value added (% of GDP) | 168/173 |
| General government final consumption expenditure (current US$) | 149/158 |
| General government final consumption expenditure (% of GDP) | 149/158 |
| Trade in services (% of GDP) | 161/171 |
| Exports of goods and services (current US$) | 147/163 |
| Service exports (BoP, current US$) | 162/171 |
| ICT service exports (BoP, current US$) | 155/166 |
| Communications, computer, etc. (% of service exports, BoP) | 166/169 |
| Commercial service exports (current US$) | 162/171 |
| Computer, communications and other services (% of commercial service exports) | 160/169 |
| Service imports (BoP, current US$) | 159/171 |
| Communications, computer, etc. (% of service imports, BoP) | 166/169 |
| Commercial service imports (current US$) | 158/171 |
| Computer, communications and other services (% of commercial service imports) | 166/169 |
| Secure Internet servers (per 1 million people) | 180/193 |
| Individuals using the Internet (% of population) | 170/180 |
| Fixed broadband subscriptions | 184/185 |