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Balance of Payments
Intro |
Current Account |
Invisible Items |
Current Transfers |
C and F accounts
Current Account
Visible Trade
All imports and exports that go through customs frontier are included. However, since no reliable estimate exists for smuggling and unrecorded trade into and out of sierra Leone, no account is made for such transactions. Also some small postal packages may be omitted, but the values are thought to be insignificant.
Imports
Imports are based on figures reported by the Customs and Excise Department and in the Sierra Leone's Annual Trade Statistics. The Central Statistics Office also publishes these. They are reported on a cost, insurance and freight (c.i.f.) basis and are adjusted to a free on board (f.o.b.) level by deducting estimates of freight, insurance and buying commission.
Exports and Re-Exports
The f.o.b. value of goods leaving Sierra Leone is reported in the Annual Trade Statistics.
Freight and Insurance
The estimated values of freight and insurance are deducted from the cost, insurance and freight value of imports. Data are based on sample examination of customs receipts and have been estimated on a global basis roughly at 2 per cent for insurance and 10 per cent for freight of c.i.f. import figures.
Buying Commission
This is estimated in the same way as freight and insurance i.e. through a sample of customs documents. The buying commission element of imports has been estimated at roughly 2 per cent of c.i.f. imports.
Currency Notes and Coins
These are added to the import figures at cost of production since they are not included in External Trade Statistics.
Intro |
Current Account |
Invisible Items |
Current Transfers |
C and F accounts
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