Commodities - Sierra Leone

  • Sierra Leone
  • The nominal value in the Commodities market is projected to reach US$1,366.00m in 2024.
  • It is expected to show an annual growth rate (CAGR 2024-2029) of 4.57% resulting in a projected total amount of US$1,708.00m by 2029.
  • The average price per contract in the Commodities market amounts to US$0.00 in 2024.
  • From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$53,690.00bn in 2024).
  • In the Commodities market, the number of contracts is expected to amount to 367.30k by 2029.
 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Commodities market in Sierra Leone is experiencing a significant shift in recent times, reflecting both global trends and local economic conditions. Customer preferences in Sierra Leone are increasingly leaning towards more diverse investment options, including Commodities.

This shift can be attributed to a growing awareness of the potential returns and risk diversification that Commodities can offer to investors in the country. Trends in the market show a rising interest in Commodities trading among local investors and financial institutions in Sierra Leone. This trend is driven by the desire to hedge against inflation and currency fluctuations, as well as to take advantage of the potential for high returns in the Commodities market.

Local special circumstances, such as the country's reliance on mineral exports and fluctuating global commodity prices, play a significant role in shaping the Commodities market in Sierra Leone. The volatility in commodity prices has led to increased interest in Commodities trading as a way to mitigate risks and capitalize on market opportunities. Underlying macroeconomic factors, including government policies, economic stability, and global market conditions, also influence the development of the Commodities market in Sierra Leone.

As the country continues to focus on economic diversification and attracting foreign investment, the Commodities market is expected to play a crucial role in supporting these efforts and driving growth in the financial sector.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.

Overview

  • Value Development
  • Volume
  • Analyst Opinion
  • Share development
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)