Consulate of Sierra Leone in Syria

Economy

Overview

Sierra Leone is rich in natural resources, particularly in minerals. The country has relied on the mining sector in general, and diamonds in particular, for its economic base. Sierra Leone’s principal exports are iron ore, diamonds, and rutile. The country’s economy has recorded major growth which is projected to accelerate to 4% in 2022, driven by hire exports from mining and the recovery of agribusiness, manufacturing, construction, and tourism.

GDP & Economic Sectors

The GDP of Sierra Leone is estimated to be around $4.5 billion in 2022.There are three main economic sectors the compose the GDP : Agriculture (60.7%0, Industry (6.5%), and services (32.9%).Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods, which includes tourism. Tourism employs around 10,000 employees with growing numbers expected in the near future as a result of the major investments in the industry. The agricultural products include vegetables, oil palm fruit, sweet potatoes, milk, citrus fruits like orange and grapefruits. Rice is considered the most stable crop in Sierra Leone with 85% of farmers cultivate it during the rainy seasons. The industries mostly include diamond mining, iron ore, and small-scale manufacturing of beverages and textile. Around 61% of the labor force work in the agriculture sector, 6.5% in the industry, and 33% in the services sector. The total value of exports is around $800 million dollar. Some of the export commodities include: Titanium, lumber, diamonds and cocoa beans.

The Consulate of Sierra Leone in Syria

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