Economy - overview:
Liberia is a low income country heavily reliant on foreign assistance for revenue. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically elected government in 2006, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, primarily raw timber and rubber and is reviving those sectors. Local manufacturing, mainly foreign-owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government and Liberia shipped its first major timber exports to Europe in 2010. The country reached its Heavily Indebted Poor Countries initiative completion point in 2010, and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to establish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF has completed the sixth review of Liberia's extended credit facility, bringing total disbursements to over $379 million. The African Development Bank approved a grant of $48 million in 2011 to support economic governance and competitiveness. Rebuilding infrastructure and raising incomes will depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country has achieved high growth during 2010-12 due to favorable world prices for its commodities.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Liberia on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liberia Economy 2014 information contained here. All suggestions for corrections of any errors about Liberia Economy 2014 should be addressed to the CIA.
$2.645 billion (2012 est.)
country comparison to the world: 185
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$1.711 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
8.3% (2012 est.)
country comparison to the world: 17
[see also: GDP - real growth rate country ranks ]
$700 (2012 est.)
country comparison to the world: 222
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
NA (2012 est.)
[see also: Gross national saving country ranks ]
household consumption: 125.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
15.2%
investment in fixed capital:
25%
investment in inventories:
0%
exports of goods and services:
27.5%
imports of goods and services:
-93.3%
agriculture: 76.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
5.4%
services:
17.7% (2002 est.)
rubber, coffee, cocoa, rice, cassava (manioc), palm oil, sugarcane, bananas; sheep, goats; timber
rubber processing, palm oil processing, timber, diamonds
NA%
[see also: Industrial production growth rate country ranks ]
1.372 million (2007)
country comparison to the world: 133
[see also: Labor force country ranks ]
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
8%
services:
22% (2000 est.)
85% (2003 est.)
country comparison to the world: 200
[see also: Unemployment rate country ranks ]
80% (2000 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
30.1% (2007)
revenues: $380.9 million
[see also: Budget revenues country ranks ]
expenditures:
$427.1 million (2012 est.)
22.3% of GDP (2012 est.)
country comparison to the world: 152
[see also: Taxes and other revenues country ranks ]
-2.7% of GDP (2012 est.)
country comparison to the world: 108
[see also: Budget surplus (+) or deficit (-) country ranks ]
0.4% of GDP (2012 est.)
country comparison to the world: 155
[see also: Public debt country ranks ]
calendar year
6.8% (2012 est.)
country comparison to the world: 174
[see also: Inflation rate (consumer prices) country ranks ]
13.52% (31 December 2012 est.)
country comparison to the world: 58
[see also: Commercial bank prime lending rate country ranks ]
$408.2 million (31 December 2012 est.)
country comparison to the world: 163
[see also: Stock of narrow money country ranks ]
$664.1 million (31 December 2012 est.)
country comparison to the world: 173
[see also: Stock of broad money country ranks ]
$521.9 million (31 December 2012 est.)
country comparison to the world: 164
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
$-918.8 million (2012 est.)
country comparison to the world: 115
[see also: Current account balance country ranks ]
$774.8 million (2012 est.)
country comparison to the world: 166
[see also: Exports country ranks ]
rubber, timber, iron, diamonds, cocoa, coffee
China 24%, US 15.3%, Spain 11%, Algeria 6.5%, Thailand 4.5%, Malaysia 4.1%, France 4% (2012)
$2.275 billion (2012 est.)
country comparison to the world: 157
[see also: Imports country ranks ]
fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs
South Korea 26.7%, China 24.4%, Singapore 23.2%, Japan 16.1% (2012)
$349.2 million (31 December 2012 est.)
country comparison to the world: 180
[see also: Debt - external country ranks ]
$3.574 billion (31 December 2012 est.)
country comparison to the world: 91
[see also: Stock of direct foreign investment - at home country ranks ]
$201 million (31 December 2012 est.)
country comparison to the world: 87
[see also: Stock of direct foreign investment - abroad country ranks ]
Liberian dollars (LRD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14