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 estabilish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. 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.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: 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: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: 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: The information regarding Liberia on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liberia Economy 2011 information contained here. All suggestions for corrections of any errors about Liberia Economy 2011 should be addressed to the CIA.
$1.76 billion (2010 est.)
country comparison to the world: 191
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$977 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
6% (2010 est.)
country comparison to the world: 40
[see also: GDP - real growth rate country ranks ]
$500 (2010 est.)
country comparison to the world: 227
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 76.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
5.4%
[see also: GDP - composition by sector - industry country ranks ]
services:
17.7% (2002 est.)
[see also: GDP - composition by sector - services country ranks ]
1.372 million (2007)
country comparison to the world: 134
[see also: Labor force country ranks ]
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
8%
[see also: Labor force - by occupation - industry country ranks ]
services:
22% (2000 est.)
[see also: Labor force - by occupation - services country ranks ]
85% (2003 est.)
country comparison to the world: 199
[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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $NA
[see also: Budget - revenues country ranks ]
expenditures:
$NA
[see also: Budget - expenditures country ranks ]
11.2% (2007 est.)
country comparison to the world: 203
[see also: Inflation rate (consumer prices) country ranks ]
14.4% (31 December 2008)
country comparison to the world: 45
[see also: Commercial bank prime lending rate country ranks ]
$206.9 million (31 December 2008)
[see also: Stock of narrow money country ranks ]
$NA (31 December 2009)
[see also: Stock of broad money country ranks ]
$1.202 billion (31 December 2008)
country comparison to the world: 146
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber
rubber processing, palm oil processing, timber, diamonds
NA%
[see also: Industrial production growth rate country ranks ]
350 million kWh (2007 est.)
country comparison to the world: 165
[see also: Electricity - production country ranks ]
325.5 million kWh (2007 est.)
country comparison to the world: 166
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 154
[see also: Oil - production country ranks ]
4,000 bbl/day (2009 est.)
country comparison to the world: 175
[see also: Oil - consumption country ranks ]
23 bbl/day (2007 est.)
country comparison to the world: 137
[see also: Oil - exports country ranks ]
4,263 bbl/day (2007 est.)
country comparison to the world: 164
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 159
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 165
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 119
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 162
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 164
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 150
[see also: Natural gas - proved reserves country ranks ]
-$224 million (2007)
country comparison to the world: 92
[see also: Current account balance country ranks ]
$1.197 billion (2006)
country comparison to the world: 149
[see also: Exports country ranks ]
rubber, timber, iron, diamonds, cocoa, coffee
Germany 27.92%, Poland 17.12%, South Africa 15.83%, India 10.48%, Greece 7.09%, US 6.23%, Norway 5.24% (2009)
$7.143 billion (2006)
country comparison to the world: 103
[see also: Imports country ranks ]
fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs
South Korea 28.29%, Singapore 19.06%, Japan 17.06%, China 14.58%, Taiwan 4.02% (2009)
$3.2 billion (2005 est.)
country comparison to the world: 125
[see also: Debt - external country ranks ]
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
Liberian dollars (LRD) per US dollar - NA (2007), 59.43 (2006), 53.098 (2005), 54.906 (2004), 59.379 (2003)
This page was last modified 09-Feb-11