Economy of Sierra Leone

As a result, large scale agriculture of commodity products, industrial development and sustainable investments have been neglected by governments. The economy could thus be described as one which is "exploitative" - a rentier state - and based upon the extraction of unsustainable resources or non-reusable assets.<br>Two-thirds of the population of Sierra Leone are directly involved in subsistence agriculture.Agriculture accounted for 58 percent national Gross Domestic Product (GDP) in 2007. Agriculture is the largest employer with 80 percent of the population working in the sector. Rice is the most important staple crop in Sierra Leone with 85 percent of farmers cultivating rice during the rainy season[26] and an annual consumption of 76 kg per person

As of 2016, about 12% of the population of Sierra Leone had access to electricity. Of that 12%, 10% was in the capital Freetown, and the remaining 90% of the country used 2% of the nation's electricity. The majority of the population relies on biomass fuels for their daily survival, with firewood and coal used most prevalently. The burning of these sources has been reported to have adverse health effects on women and children. A 2012 study was done on the correlation between Acute Respiratory Infection (ARI), and burning biomass fuels in the home. The results were that 64% of children were diagnosed with ARI where firewood stoves were used, and 44% where charcoal stoves were used.The use of coal and firewood has also posed environmental concerns as they are both in conflict with the push for more sustainable sources of energy.As a result, the commercialisation of firewood and coal has been a point of contention with aid donors and government agencies such as the Ministry of Energy and Water Resources and the Forestry Division.There have been strong pushes for both solar and hydropower to become the dominant sources of energy in Sierra Leone because of the UN's Sustainable Development Goals, particularly goal number seven . Sierra Leone's tropical climate, heavy annual rainfall, and abundance of rivers give it the potential to realistically pursue more solar and hydropower alternatives.

Rich in minerals, Sierra Leone has relied on the mining sector in general, and diamonds in particular, for its economic base. In the 1970s and early 1980s, economic growth rate slowed because of a decline in the mining sector. Financially disadvantageous exchange rates and government budget deficits led to sizable balance-of-payments deficits and inflation.Certain policy responses to external factors as well as implementations of aid projects and maintenance have led to a general decline in economic activity and a serious degradation of economic infrastructures. Sierra Leone's short-term prospects depend upon continued adherence to International Monetary Fund programs and continued external assistance.

Radio is the most-popular and most-trusted media source in Sierra Leone, with 72% of people in the country listening to the radio daily. Sierra Leone is home to one government-owned national radio station and roughly two dozen private radio stations, as well as one government-owned and one private TV station. Telephone and telegraph services are marginal, but improving. Internet usage is low, reaching just 1.3% of the population in 2012, but improving with growth in 3G mobile cellular data services and the mid-2011 arrival of the ACE international fiber-optic cable system in Freetown.

According to the International Labour Organization, approximately 8,000 Sierra Leoneans are employed in the tourism industry, with a growing number of jobs expected to be created in the future. The main entrance point is Freetown International Airport, where transport to and from has been problematic. The main attractions for tourist in Sierra Leone are the beaches, nature reserves and mountains.

Because of widespread poverty, high petroleum prices and a large portion of the population residing in small communities, walking is often the preferred method of transportation in Sierra Leone. There are 11,700 kilometres (7,270 mi) of highway in Sierra Leone, of which 936 km (582 mi) are paved.There are 800 km (497 mi) of waterways in Sierra Leone, of which 600 km (373 mi) are navigable year-round. Major ports of Sierra Leone include: Bonthe, Freetown and Pepel. Queen Elizabeth II Quay in Freetown represents the country's only deep water port facility capable of berthing large-hulled cargo or military vessels.