Source: world bank Nominal/PPP
Summary:
Sierra Leone GDP Per Capita expanded from 1960 to 2024, increasing from $141.96 to $806.65 .The compound annual growth rate (CAGR) averaged 2.75% over the period. The economy recorded its peak level in 2014 and its lowest level in 1968. Growth volatility remained high. The maximum drawdown reached 65.41%, indicating the largest cyclical decline from peak levels. The country experienced 16 recession episode(s) during the observed period.
Sierra Leone Economic Phases (1960 - 2024)
From 1960 to 2024, Sierra Leone economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Expansion (1961–1962) indicating steady moderate growth
- Contraction (1967–1968) indicating temporary slowdown
- High Growth (1972–1974) indicating robust economic expansion
- High Growth (1977–1979) indicating robust economic expansion
- Contraction (1980–1981) indicating temporary slowdown
- Crisis (1985–1986) indicating severe economic downturn
- High Growth (1987–1988) indicating robust economic expansion
- Crisis (1989–1990) indicating severe economic downturn
- High Growth (1993–1994) indicating robust economic expansion
- Crisis (1997–1998) indicating severe economic downturn
- Contraction (1999–2000) indicating temporary slowdown
- High Growth (2001–2003) indicating robust economic expansion
- High Growth (2005–2008) indicating robust economic expansion
- High Growth (2011–2013) indicating robust economic expansion
- Crisis (2015–2016) indicating severe economic downturn
- Expansion (2020–2021) indicating steady moderate growth
- High Growth (2024–2024) indicating robust economic expansion
The most remarkable growth occurred in 2001 with an increase of 149.274%, while the largest decline was in 1986 at -44.175%.