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Economy of Sierra Leone vs Zambia compared: GDP & Debt

Updated on by Georank

Sierra Leone has a GDP of $7.46B compared to $28.9B for Zambia, ranking 160/197 and 116/197 by economy size, respectively.

Sierra Leone has $3.38B in government debt (45.2% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Sierra Leone vs Zambia GDP by year

Sierra Leone
Zambia
1x
Year GDP, current $
Sierra Leone Zambia
2025 $7,464,157,904 $28,879,806,220
2024 $6,971,127,234 $25,303,185,342
2023 $6,415,852,766 $27,577,956,471
2022 $7,121,125,277 $29,163,782,140
2021 $7,166,931,483 $22,096,416,932
2020 $6,688,307,706 $18,137,764,931
2019 $6,523,577,590 $23,308,667,781
2018 $6,390,514,689 $26,311,507,274
2017 $5,749,846,528 $25,873,601,261
2016 $6,084,297,211 $20,958,412,538
2015 $6,788,352,975 $21,251,216,799
2014 $7,686,138,791 $27,141,023,558
2013 $7,502,762,863 $28,037,239,463
2012 $6,141,666,509 $25,503,060,420
2011 $4,861,632,885 $23,459,515,276
2010 $4,262,805,967 $20,265,559,484
2009 $3,953,403,098 $15,328,342,304
2008 $4,157,895,298 $17,910,858,638
2007 $3,632,957,611 $14,056,957,976
2006 $3,263,697,467 $12,756,858,899
2005 $2,545,275,313 $8,331,870,169
2004 $2,237,350,687 $6,221,110,219
2003 $2,142,618,046 $4,901,869,764
2002 $1,933,863,911 $4,193,850,445
2001 $1,681,473,894 $4,094,441,301
2000 $635,866,404 $3,600,632,111
1999 $669,386,624 $3,404,284,891
1998 $672,368,187 $3,537,741,942
1997 $850,232,760 $4,303,288,480
1996 $941,709,423 $3,597,220,962
1995 $870,740,292 $3,806,983,413
1994 $911,853,802 $3,656,806,166
1993 $768,867,883 $3,273,505,344
1992 $679,940,814 $3,182,810,841
1991 $779,981,987 $3,376,806,697
1990 $649,644,098 $3,288,381,797
1989 $932,974,420 $3,994,673,161
1988 $1,055,083,933 $3,728,878,149
1987 $660,106,336 $2,265,250,972
1986 $490,181,457 $1,664,413,508
1985 $856,890,459 $2,252,454,500
1984 $1,087,471,862 $2,719,518,933
1983 $995,104,305 $3,321,048,451
1982 $1,295,361,886 $3,871,117,093
1981 $1,114,830,472 $4,008,126,497
1980 $1,100,685,845 $3,884,530,854
1979 $1,109,374,911 $3,353,445,378
1978 $960,728,339 $2,811,032,473
1977 $691,777,584 $2,515,296,940
1976 $594,895,942 $2,742,859,263
1975 $679,336,344 $2,442,672,141
1974 $648,590,643 $2,910,981,262
1973 $575,230,724 $2,434,255,237
1972 $465,381,340 $1,872,416,680
1971 $419,549,305 $1,653,259,341
1970 $434,410,974 $1,788,779,285
1969 $408,690,163 $1,926,399,230
1968 $329,859,732 $1,573,739,371
1967 $348,795,303 $1,340,639,464
1966 $375,479,850 $1,238,999,505
1965 $359,379,856 $1,061,199,576
1964 $371,847,461 $822,639,671
1963 $348,547,279 $704,339,719
1962 $342,721,416 $679,279,729
1961 $327,834,191 $682,359,727
1960 $322,009,962 $698,739,721

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

GDP per capita in Sierra Leone vs Zambia by year

Sierra Leone
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Sierra Leone Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $846 - $1,318 -
2024 $807 $3,522 $1,187 $4,215
2023 $758 $3,368 $1,331 $4,077
2022 $860 $3,144 $1,447 $3,841
2021 $885 $2,849 $1,127 $3,503
2020 $845 $2,719 $952 $3,157
2019 $844 $2,704 $1,259 $3,361
2018 $846 $2,640 $1,464 $3,442
2017 $779 $2,501 $1,483 $3,392
2016 $844 $2,635 $1,239 $3,313
2015 $965 $2,560 $1,296 $3,337
2014 $1,118 $2,762 $1,707 $3,441
2013 $1,117 $2,701 $1,821 $3,477
2012 $938 $2,317 $1,710 $3,324
2011 $761 $2,043 $1,625 $3,228
2010 $685 $1,900 $1,451 $3,098
2009 $653 $1,814 $1,136 $2,872
2008 $705 $1,824 $1,376 $2,708
2007 $632 $1,770 $1,119 $2,555
2006 $580 $1,698 $1,052 $2,378
2005 $463 $1,615 $711 $2,213
2004 $418 $1,541 $549 $2,068
2003 $414 $1,458 $446 $1,942
2002 $389 $1,360 $394 $1,837
2001 $358 $1,121 $397 $1,785
2000 $143.7 $1,242 $359 $1,709
1999 $155 $1,167 $350 $1,654
1998 $156.5 $1,180 $373 $1,601
1997 $199.9 $1,157 $466 $1,631
1996 $224.3 $1,225 $400 $1,585
1995 $208.4 $1,187 $433 $1,501
1994 $218.5 $1,266 $426 $1,464
1993 $185 $1,269 $391 $1,607
1992 $163.2 $1,220 $389 $1,505
1991 $183.7 $1,445 $423 $1,534
1990 $154.8 $1,382 $422 $1,522
1989 $231.3 - $526 -
1988 $268.2 - $504 -
1987 $172.4 - $315 -
1986 $131.5 - $238.2 -
1985 $235.5 - $332 -
1984 $306 - $413 -
1983 $285.8 - $520 -
1982 $380 - $627 -
1981 $334 - $670 -
1980 $336 - $669 -
1979 $346 - $595 -
1978 $305 - $514 -
1977 $224.2 - $474 -
1976 $196.4 - $533 -
1975 $228.4 - $490 -
1974 $222.1 - $601 -
1973 $200.6 - $518 -
1972 $165.4 - $410 -
1971 $151.8 - $372 -
1970 $160.2 - $414 -
1969 $153.6 - $459 -
1968 $126.3 - $387 -
1967 $136.1 - $341 -
1966 $149.3 - $325 -
1965 $145.6 - $287.4 -
1964 $153.4 - $230 -
1963 $146.3 - $203.2 -
1962 $146.3 - $202.3 -
1961 $142.3 - $209.7 -
1960 $142 - $221.6 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

Sierra Leone's GDP per capita is $846, ranking 186/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Sierra Leone ranks 171st at $3,522, while Zambia ranks 166th at $4,215.

Economic indicators

Sierra Leone Zambia
Gross domestic product
$7.46B
2025
$28.9B
2025
GDP rank
160/197
2025
116/197
2025
GDP growth
4.61%
2024-2025
3.76%
2024-2025
GDP per capita
$846
2025
$1,318
2025
GDP per capita rank
186/197
2025
170/197
2025
GDP per capita, PPP
$3,522
2024
$4,215
2024
GDP per capita PPP rank
171/197
2024
166/197
2024
Government debt
$3.38B
2025
$24.8B
2025
Debt-to-GDP ratio
45.2%
2025
86%
2025
Government debt per person
$383
2025
$1,133
2025
Government debt per person rank
173/185
2025
140/185
2025
Average annual personal income after taxes
$1,418
2026
$1,538
2026
Market capitalization of domestic companies n/a
$14.9B
2025
Income share by richest 10%
29.4%
2018
39.1%
2022
Income share by poorest 10%
3.4%
2018
1.5%
2022
Government expenditure, % of GDP
16.5%
2025
29.7%
2025
Consumer prices inflation
7.6%
2024-2025
13.9%
2024-2025
Central bank interest rate
16.8%
2025
13.3%
2026
Unemployment rate
1.65%
2018
5.67%
2024
Population
9090531
22844606

Spending and national debt comparison by year

Sierra Leone
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Sierra Leone Zambia
Government spending Government debt Government spending Government debt
2025 16.5% 45.2% 29.7% 86%
2024 17.6% 46.7% 26.5% 125.2%
2023 15.4% 49.4% 27.4% 129.1%
2022 16.7% 54% 28.2% 99.5%
2021 16.8% 47.1% 30.5% 111%
2020 15.6% 46.4% 34% 140%
2019 13.3% 45.3% 29.8% 103.3%
2018 13.7% 44.2% 27.7% 81.2%
2017 15% 44.2% 25% 66.6%
2016 14.9% 38.9% 23.9% 61.2%
2015 13.1% 28.4% 27.6% 61.9%
2014 13.5% 26.8% 24.3% 33.9%
2013 11.4% 22.3% 24% 25.9%
2012 13.5% 24.1% 21.9% 24.9%
2011 13.2% 25.8% 19.5% 20.8%
2010 12.5% 28.9% 18.1% 18.9%
2009 11.3% 31.1% 17.8% 20.5%
2008 10.3% 46.1% 19.5% 19.2%
2007 8.1% 26.4% 19.9% 21.9%
2006 9.97% 61.9% 19.7% 25%
2005 10.9% 78.9% 22.5% 75.7%
2004 11.1% 93.2% 23.3% 129.9%
2003 11.7% 99.8% 27.3% 159.5%
2002 12.6% 99.8% 27.6% 180.2%
2001 12% 113.5% 28% 210.2%
2000 10.3% - 21.4% 261%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

In 2025, Sierra Leone's government spending was $1.23B, accounting for 16.5% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 45.2% in Sierra Leone and 86% in Zambia, ranking 115/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Sierra Leone

Zambia
1x
Year Deficit/surplus, % of GDP
Sierra Leone Zambia
2025 -4.2% -3.83%
2024 -5.16% -3.46%
2023 -4.99% -5.48%
2022 -5.93% -7.82%
2021 -4.35% -8.13%
2020 -3.5% -13.8%
2019 -1.95% -9.41%
2018 -3.57% -8.31%
2017 -5.61% -7.5%
2016 -5.41% -5.69%
2015 -2.86% -8.88%
2014 -2.77% -5.43%
2013 -1.74% -6.4%
2012 -3.41% -3.16%
2011 -2.78% -1.78%
2010 -3.09% -2.43%
2009 -1.51% -2.06%
2008 -2.22% -0.67%
2007 12.6% -1.04%
2006 -0.93% 16.9%
2005 -1.17% -2.37%
2004 -1.46% -2.51%
2003 -2.78% -5.31%
2002 -3.03% -4.5%
2001 -3.22% -5.89%
2000 -1.94% 1.16%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

In 2025, Sierra Leone's government deficit, the difference between spending and revenue, was $313M, equivalent to 4.2% of GDP. This compares to Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Sierra Leone recorded a fiscal deficit in 25 of those years, while Zambia ran a deficit in 24 years. On average, Sierra Leone posted an annual deficit equal to 2.58% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Sierra Leone

Zambia
1x
Year Consumer prices inflation
Sierra Leone Zambia
2025 7.6% 13.9%
2024 28.4% 15%
2023 47.7% 10.9%
2022 27.2% 11%
2021 11.9% 22%
2020 13.4% 15.7%
2019 14.8% 9.2%
2018 16% 7.5%
2017 18.2% 6.6%
2016 10.9% 17.9%
2015 6.7% 10.1%
2014 4.6% 7.8%
2013 5.5% 7%
2012 6.6% 6.6%
2011 6.8% 8.7%
2010 7.2% 8.5%
2009 7.5% 13.4%
2008 8.2% 12.4%
2007 17% 10.7%
2006 10.5% 9%
2005 13.7% 18.3%
2004 12.9% 18%
2003 4% 21.4%
2002 0.1% 22.2%
2001 2.6% 21.4%
2000 -0.9% 24.1%
1999 34.1% 23.9%
1998 36% 22.7%
1997 14.6% 21.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

Over the past 29 years, Sierra Leone has recorded an average annual inflation rate of 13.6%, compared with 14.4% in Zambia. In 2025, inflation was 7.6% in Sierra Leone and 13.9% in Zambia.

Top exports between countries

Sierra Leone
Export category Export value
Zambia
Export category Export value
Metals $613K
Precious metals & jewellery $13K
Miscellaneous $10K
Raw materials & minerals $8K

Balance of trade

Sierra Leone Zambia
Current account balance
-$984M
2024
-$1.12B
2024
Current account balance ranking
115/190
2024
121/190
2024
Current account balance, % of GDP
-14.1%
2024
-4.41%
2024
Goods imports
$2.4B
2024
$10.1B
2024
Goods exports
$1.55B
2024
$11.4B
2024
Service imports
$514M
2024
$1.99B
2024
Service exports
$49.6M
2024
$1.38B
2024
Imports of goods and services, % of GDP
28.2%
2025
27.6%
2024
Exports of goods and services, % of GDP
20.9%
2025
35%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Sierra Leone Zambia
Economic freedom 49.6 51.9
Economic freedom ranking 165/197 152/197
Property rights 32.9 43.9
Government integrity 35.8 39.3
Judicial effectiveness 42 45
Tax burden 88.2 74.3
Government spending 92.4 78.1
Fiscal health 54.1 30.9
Business freedom 44.8 53.4
Labor freedom 38.2 48.8
Monetary freedom 53.6 66.6
Trade freedom 63.6 62.8
Investment freedom 30 40
Financial freedom 20 40

Economic freedom comparison by year

Sierra Leone
Zambia
1x
Year Economic freedom index
Sierra Leone Zambia
2026 49.6 51.9
2025 48 50.9
2024 44.6 48.4
2023 50.2 47.8
2022 52 48.7
2021 51.7 50.4
2020 48 53.5
2019 47.5 53.6
2018 51.8 54.3
2017 52.6 55.8
2016 52.3 58.8
2015 51.7 58.7
2014 50.5 60.4
2013 48.3 58.7
2012 49.1 58.3
2011 49.6 59.7
2010 47.9 58
2009 47.8 56.6
2008 48.3 56.2
2007 47 56.2
2006 45.2 56.8
2005 44.8 55
2004 43.6 54.9
2003 42.2 55.3
2002 - 59.6
2001 - 59.5
2000 44.2 62.8
1999 47.2 64.2
1998 47.7 62.7
1997 45 62.1
1996 52.3 59.6
1995 49.8 55.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

The Economic Freedom Index for Sierra Leone is 49.6, ranking 165/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Sierra Leone Zambia
Services, % of GDP
41.6%
2025
57%
2025
Industry, % of GDP
25.7%
2025
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
29.5%
2025
4.11%
2025
GNI, Atlas method
$7.34B
2025
$26.2B
2025
GNI per capita, PPP
$3,690
2025
$3,990
2025
Total reserves including gold
$433M
2024
$4.09B
2024
Total reserves ranking
161/177
2024
111/177
2024
Net foreign direct investment
-$122M
2024
-$2.05B
2024
Net inflows of foreign direct investment
$122M
2024
$2.36B
2024
Net outflows of foreign direct investment
$0
2024
$311M
2024
Servicing debt to the IMF, % of GNI
2.22%
2024
17.3%
2024
Poverty at national poverty lines
56.8%
2018
60%
2022
Gross capital formation, % of GDP
23.2%
2025
23.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/sierra-leone/zambia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (2000–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2020–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.