Frances B. Menjor Macroeconomics October 11, 2017
The Night and Day Economic Comparisons of Sierra Leone and France.
In the world that we live in today there are various countries with different cultures, government policies and economic outcomes. In 2016 I traveled to West Africa and France and immediately notice a drastic difference in the development of the two countries. Upon arrival into France a person will notice its many amenities and attractions. Frances is a rich country in multiple ways in contrast Sierra Leone is rich in natural resources but is very underdeveloped. A way to better understand the two states of these countries is to utilize economic analysis. An economic analysis helps bring understanding of a nation’s …show more content…
Sierra Leone’s current economic state is deplorable and there are numerous reasons explaining why. The current GDP of Sierra Leone is 3.669 billion in USD. The country’s GDP revenues is streamed from 29% of unsorted diamonds, 14% Aluminum ores and concentrates 8.1% Titanium ores, 12% Cocoa beans, 2.4% Vessels and floating structures, 2.4% Cruise ships, excursion boats/ferry boats, and other factor. Sierra Leone is a small country with a small population of 7,602,984 but unfortunately has a high poverty rate. The poverty rate is very high with more than 60% of the population living on less than US$ 1.25 a day and unemployment and illiteracy levels remain high, particularly among youth. One third of Sierra Leone’s population is comprised of uneducated youth that are …show more content…
The two countries also have different economic activities, France has a strong presence in chemical industry, an abundance of revenue from tourism and 31 of 500 biggest companies in the world are based in France. Sierra Leone’s main economic activity is mining which is an industry where demand and prices fluctuates which leaves the country vulnerable. A key component to elevate a failing economy is to integrate technology to gain improvements. France is becoming more technology savvy and industrialized especially in the renewable energies department. Sierra Leone has an underdeveloped technical industry because of low education issues, lack of foreign investment, and the country does not utilize its existing resources of hydroelectricity and solar power which affects one it its major sources of exports mining and its secondary economic activity agriculture
The Night and Day Economic Comparisons of Sierra Leone and France.
In the world that we live in today there are various countries with different cultures, government policies and economic outcomes. In 2016 I traveled to West Africa and France and immediately notice a drastic difference in the development of the two countries. Upon arrival into France a person will notice its many amenities and attractions. Frances is a rich country in multiple ways in contrast Sierra Leone is rich in natural resources but is very underdeveloped. A way to better understand the two states of these countries is to utilize economic analysis. An economic analysis helps bring understanding of a nation’s …show more content…
Sierra Leone’s current economic state is deplorable and there are numerous reasons explaining why. The current GDP of Sierra Leone is 3.669 billion in USD. The country’s GDP revenues is streamed from 29% of unsorted diamonds, 14% Aluminum ores and concentrates 8.1% Titanium ores, 12% Cocoa beans, 2.4% Vessels and floating structures, 2.4% Cruise ships, excursion boats/ferry boats, and other factor. Sierra Leone is a small country with a small population of 7,602,984 but unfortunately has a high poverty rate. The poverty rate is very high with more than 60% of the population living on less than US$ 1.25 a day and unemployment and illiteracy levels remain high, particularly among youth. One third of Sierra Leone’s population is comprised of uneducated youth that are …show more content…
The two countries also have different economic activities, France has a strong presence in chemical industry, an abundance of revenue from tourism and 31 of 500 biggest companies in the world are based in France. Sierra Leone’s main economic activity is mining which is an industry where demand and prices fluctuates which leaves the country vulnerable. A key component to elevate a failing economy is to integrate technology to gain improvements. France is becoming more technology savvy and industrialized especially in the renewable energies department. Sierra Leone has an underdeveloped technical industry because of low education issues, lack of foreign investment, and the country does not utilize its existing resources of hydroelectricity and solar power which affects one it its major sources of exports mining and its secondary economic activity agriculture