Source: world bank Nominal/PPP
Summary:
Sierra Leone GDP Per Capita expanded from 1960 to 2024, increasing from $0.32 to $6.97 .The compound annual growth rate (CAGR) averaged 4.93% over the period. The economy recorded its peak level in 2014 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 62.31%, indicating the largest cyclical decline from peak levels. The country experienced 14 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 (1961–1963) indicating steady moderate growth
- Contraction (1967–1968) indicating temporary slowdown
- High Growth (1969–1970) indicating robust economic expansion
- High Growth (1972–1974) indicating robust economic expansion
- High Growth (1977–1979) indicating robust economic expansion
- 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
- Contraction (1999–2000) indicating temporary slowdown
- High Growth (2001–2003) indicating robust economic expansion
- High Growth (2005–2008) indicating robust economic expansion
- High Growth (2010–2013) indicating robust economic expansion
- Crisis (2015–2016) indicating severe economic downturn
- Expansion (2019–2020) indicating steady moderate growth
- Contraction (2022–2023) indicating temporary slowdown
- High Growth (2024–2024) indicating robust economic expansion
The most remarkable growth occurred in 2001 with an increase of 164.438%, while the largest decline was in 1986 at -42.795%.