Annual value of incoming personal remittances in Sierra Leone 2000-2023
The personal remittances received in Sierra Leone decreased by 89.3 million U.S. dollars (-27.77 percent) in 2023 in comparison to the previous year. Nevertheless, the last two years recorded significant higher personal remittances received than the preceding years.
Personal remittances refer to personal transfers and compensation of employees. The former includes all current transfers between resident and nonresident individuals, while the latter refers to the income of workers who are employed in an economy where they are not resident, and of residents employed by nonresident entities. These include border, seasonal, and other short-term workers.