Sierra Leone
As a least-developed country (LDC), Sierra Leone is a beneficiary of the EU's "Everything but Arms" (EBA) arrangement. The World Bank classifies Sierra Leone as a low-income economy with a per-capita income of $758 in 2023. Total EU imports from Sierra Leone amounted to about €202 million in 2023, the lowest value since 2013. As most of Sierra Leone's exports enter the EU duty-free under the EU's normal tariff regime, the scope for preferential imports is limited - these amounted to €5.5 million in 2023.
What is the EBA?
The EBA arrangement covers all LDCs as classified by the United Nations. This arrangement enables duty-free and quota-free access for all products originating in LDCs except for arms and ammunition. Unlike beneficiaries of the Standard GSP and GSP+, LDCs are not excluded from the scheme if they benefit from other preferential arrangements or agreements with the EU.
At a glance: EU preferential imports from EBA beneficiary countries (2023, € million)
8.5M (2023)
Population
Presidential Republic
Government
5.7% (2023)
GDP Growth
47.6% (2023)
Inflation
$ 6.4B (2023)
GDP
Facts about Sierra Leone's economy
Natural Resources
Sierra Leone is one of the top diamond producing countries in the world. It is a major producer of gold and additionally benefits from substantial mineral resources, especially iron ore. Sierra Leone also is among the leading producers of titanium and bauxite.
Export Products
The main exports of Sierra Leone are ores (iron, titanium, aluminium, etc.) and diamonds. Cocoa beans, palm oil, and fish, as wood and articles made of wood are important agricultural exports.
Trade Partners
China (24% of total trade), the EU (14%) and North Macedonia (11%) were the most important trading partners for Sierra Leone in 2023. Most imports originate from China (20%) and the EU (15%), and most exports go to China (41%) and North Macedonia (31%).
Economic Structure
Agriculture remains the mainstay of the economy in terms of employment, although its share in GDP has been decreasing (29% in 2023); the sector mainly relies on small-scale farming. The most important cash crops are palm kernels, cocoa, coffee, cassava, and ginger. Furthermore, Sierra Leone possesses considerable mineral resources whose extraction are an important driver of the economy. Its rutile deposits are among the world’s largest. Traditional industries include leather and fish curing, these have been complemented by small scale production of consumer goods and the processing of agricultural commodities.
Usage of EBA Preferences
Because most of Sierra Leone's exports enter the EU duty free under the normal tariff regime, only a small fraction (less than 3% in 2023) makes use of the preferential access to the EU market. The preference utilisation rate stood at 73% in 2023.
Trade with the EU
Total trade with the EU amounted to €317 million in 2023. The EU is the second most important trading partner for Sierra Leone and accounts for a share of 14%.
Sierra Leone and the EU
Imports from Sierra Leone by product section (2023, € million)
Imports from Sierra Leone over time (€ million)
SIERRA LEONE AND THE EU GSP
Economic Impact
4%
Only a small share of Sierra Leone's exports to the EU were eligible for EBA preferences in 2023.
73%
Sierra Leone's preference utilisation rate in 2023.
99%
Share of zero-duty imports from Sierra Leone. Most imports are duty-free under normal EU tariffs.
Preference utilisation and export diversification
EU imports from Sierra Leone (€ million)
Preference utilisation (%) vs. total eligible imports (in € million)
Only a small share of overall imports from Sierra Leone is eligible for EBA preferences. Sierra Leone’s most prominent export product to the EU are minerals which are traded under zero most-favoured-nation duties. Preference-eligible imports remain small in absolute terms but in 2022 and 2023 were higher than in any year before. Preference utilisation, which had been volatile in the past, also stabilised at a rate above 70% since 2021.
The largest product sections under EBA (€ million, 2023)
EBA preferences are only used for eleven product sections in total. The most prominent product section traded using EBA preferences is vegetable oils and fat – with palm oil being the most important product. EU imports from Sierra Leone in this section account for more than 89% of all preferential imports. Oils and fats are followed by tobacco, pharmaceutical and prepared foodstuffs.
SUSTAINABLE DEVELOPMENT
The preferential access to the EU market granted by the EBA scheme is not bound to the ratification of international conventions. Nonetheless, Sierra Leone maintains a high level of ratification of international conventions. The country has ratified 14 out 15 core international conventions on the protection of human rights and good governance. Additionally, Sierra Leone has ratified eight international conventions on the protection of the environment, most recently in June 2020 the Cartagena Protocol. Sierra Leone has also ratified 4 conventions on good governance.
Core international conventions on human rights and labour standards
Ratified
- International Convention on the Elimination of All Forms of Racial Discrimination (1969)
- International Covenant on Civil and Political Rights (1976)
- International Covenant on Economic Social and Cultural Rights (1976)
- Convention on the Elimination of All Forms of Discrimination Against Women (1981)
- Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment (1987)
- Convention on the Rights of the Child (1990)
- Convention concerning Forced or Compulsory Labour, No 29 (1930)
- Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
- Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
- Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
- Convention concerning the Abolition of Forced Labour, No 105 (1957)
- Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
- Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
- Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)
Not Ratified
- Convention on the Prevention and Punishment of the Crime of Genocide (1948)
Additional Conventions
- Convention on International Trade in Endangered Species of Wild Fauna and Flora (1973)
- Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
- Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
- Convention on Biological Diversity (1992)
- The United Nations Framework Convention on Climate Change (1992)
- Cartagena Protocol on Biosafety (2000)
- Stockholm Convention on persistent Organic Pollutants (2001)
- Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
- United Nations Single Convention on Narcotic Drugs (1961)
- United Nations Convention on Psychotropic Substances (1971)
- United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
- United Nations Convention against Corruption (2004)
EU-Sierra Leone Bilateral Development Cooperation
DG INTPA
Access all info about EU-Sierra Leone relations on the International Partnerships website.