Sierra leone Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in sierra leone, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Sierra Leone, located on Africa’s west coast, has a population of approximately 9.3 million and spans 71,740 square kilometers. The country is rich in mineral, fishery, and agricultural resources, offering diverse business opportunities. Its economy is predominantly agrarian, supported by fertile soil and abundant rainfall, with agriculture, mining, fisheries, and tourism driving growth. Services, particularly wholesale and retail trade and financial services, are another major sector of the economy. Despite this, Sierra Leone remains reliant on food imports, including 361,000 metric tons of rice valued at $160 million in 2024.

Sierra Leone’s Medium-Term National Development Plan (MTNDP, 2024–2030) prioritizes revenue mobilization, expenditure management, and investment through five initiatives: Feed Salone for food security, Human Capital Development for skills and health, Youth Employment Scheme for job creation, Technology and Infrastructure for modernization, and Public Service Transformation for governance efficiency.

Sierra Leone’s economy has shown resilience post-COVID-19, with real GDP growth projected at 4.5% in 2025, up from 4.0% in 2024. Inflation has declined significantly, from 54.2% in November 2023 to 15.1% in November 2024, aided by tighter fiscal and monetary policies. However, challenges persist, including a fiscal deficit of 4.8% of GDP and a public debt-to-GDP ratio of 46.2% in 2024, necessitating structural reforms and fiscal consolidation. The government has re-engaged with the International Monetary Fund (IMF), securing a $248.5 million Extended Credit Facility (ECF) to support economic stability, reduce inflation, promote growth, and strengthen governance.

The World Bank’s B-READY report for 2025 ranks Sierra Leone 145th out of 180 economies for business and investment climate, noting improvements in regulatory frameworks but highlighting challenges in infrastructure and access to finance.

Trade Dynamics: Sierra Leone had $1.5 billion in exports in 2023. Metals and minerals (iron, titanium, diamonds) and agricultural products are Sierra Leone’s primary exports and China was its largest export destination (66%) followed by the EU 27 (15%) and India (6%). The United States received 1.5% of Sierra Leone’s merchandise goods exports (approximately $22 million) that year. Sierra Leone’s exports to the United States grew to $28 million in 2024. Sierra Leone had $1.9 billion in imports of merchandise goods in 2023. Its major imported merchandise goods were cereals, rice, iron and steel, motor vehicles, chemicals and medications, and electronics, among other goods. The largest suppliers of Sierra Leone’s imports were China (33%), India (14%), the EU 27 (13%), and the United States (5%). U.S. exports to Sierra Leone, including machinery, vehicles, poultry, rice, and medical equipment, continue to grow and reached $116 million in 2024. Sierra Leone is a net importer of services such as transport (freight), telecommunications, and computer and information services.  

Investment Dynamics: China is the major investor in the mining and infrastructure sectors.  
Sierra Leone is vulnerable to global economic shocks due to its reliance on imports for essential goods. The country depends heavily on foreign assistance from partners such as the United States, United Kingdom, European Union, World Bank, IMF, UN agencies, and China.

Political & Economic Environment:  

State Department’s website for background on the country’s political environment.

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