| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Liberia Economy 2014
http://www.theodora.com/wfbcurrent/liberia/liberia_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese



Page last updated on January 28, 2014

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):
$2.645 billion (2012 est.)
country comparison to the world: 185

$2.442 billion (2011 est.)
$2.264 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.711 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
8.3% (2012 est.)
country comparison to the world: 17

7.9% (2011 est.)
6.1% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$700 (2012 est.)
country comparison to the world: 222

$600 (2011 est.)
$600 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
NA (2012 est.)

-36.6% of GDP (2011 est.)
-30.6% of GDP (2010 est.)

GDP - composition, by end use:
household consumption: 125.6%
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%

(2011 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.)

Agriculture - products:
rubber, coffee, cocoa, rice, cassava (manioc), palm oil, sugarcane, bananas; sheep, goats; timber

Industries:
rubber processing, palm oil processing, timber, diamonds

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
1.372 million (2007)
country comparison to the world: 133
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 8%
services: 22% (2000 est.)

Unemployment rate:
85% (2003 est.)
country comparison to the world: 200
[see also: Unemployment rate country ranks ]

Population below poverty line:
80% (2000 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.1% (2007)

Budget:
revenues: $380.9 million
[see also: Budget revenues country ranks ]
expenditures: $427.1 million (2012 est.)

Taxes and other revenues:
22.3% of GDP (2012 est.)
country comparison to the world: 152
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.7% of GDP (2012 est.)
country comparison to the world: 108
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
0.4% of GDP (2012 est.)
country comparison to the world: 155

0.4% of GDP (2011 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
6.8% (2012 est.)
country comparison to the world: 174

8.5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
13.52% (31 December 2012 est.)
country comparison to the world: 58

13.75% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$408.2 million (31 December 2012 est.)
country comparison to the world: 163

$433.6 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$664.1 million (31 December 2012 est.)
country comparison to the world: 173

$560.2 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$521.9 million (31 December 2012 est.)
country comparison to the world: 164

$475.3 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-918.8 million (2012 est.)
country comparison to the world: 115

$-953 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$774.8 million (2012 est.)
country comparison to the world: 166

$645.7 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
rubber, timber, iron, diamonds, cocoa, coffee

Exports - partners:
China 24%, US 15.3%, Spain 11%, Algeria 6.5%, Thailand 4.5%, Malaysia 4.1%, France 4% (2012)

Imports:
$2.275 billion (2012 est.)
country comparison to the world: 157

$2.068 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs

Imports - partners:
South Korea 26.7%, China 24.4%, Singapore 23.2%, Japan 16.1% (2012)

Debt - external:
$349.2 million (31 December 2012 est.)
country comparison to the world: 180

$447.6 million (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$3.574 billion (31 December 2012 est.)
country comparison to the world: 91

$2.912 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$201 million (31 December 2012 est.)
country comparison to the world: 87

$201 million (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Liberian dollars (LRD) per US dollar -

73.515 (2012 est.)
72.227 (2011 est.)
71.403 (2010 est.)


NOTE: 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.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

http://www.theodora.com/wfbcurrent/liberia/liberia_economy.html

This page was last modified 14-Feb-14
Copyright © 1995-2014 ITA all rights reserved.

    . Feedback