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Liberia Economy 2015
http://www.theodora.com/wfbcurrent/liberia/liberia_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 20, 2014

Economy - overview:
Liberia is a low income country that relies heavily on foreign assistance. 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 is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, and iron ore and rubber have driven growth in recent years. Liberia is also reviving its raw timber sector and is encouraging oil exploration. President JOHNSON SIRLEAF, a Harvard-educated banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Rebuilding infrastructure and raising incomes will depend on financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country achieved high growth during 2010-13 due to favorable world prices for its commodities. In the future, growth will depend on global commodity prices, on sustained foreign aid, trade, investment, and remittances, on the development of infrastructure and institutions, but mostly on maintaining political stability and security.

GDP (purchasing power parity):
$2.898 billion (2013 est.)
country comparison to the world: 184

$2.681 billion (2012 est.)
$2.475 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.977 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
8.1% (2013 est.)
country comparison to the world: 11

8.3% (2012 est.)
7.9% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$700 (2013 est.)
country comparison to the world: 223

$700 (2012 est.)
$600 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
NA (2012 est.)

-36.6% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

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.)

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, tapioca), palm oil, sugarcane, bananas; sheep, goats; timber

Industries:
mining (iron ore), 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: 134
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 70%
industry: 8%
services: 22% (2000 est.)

Unemployment rate:
85% (2003 est.)
country comparison to the world: 201
[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%
highest 10%: 30.1% (2007)

Budget:
revenues: $465 million
expenditures: $521.7 million (2013 est.)

Taxes and other revenues:
23.5% of GDP (2013 est.)
country comparison to the world: 141
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.9% of GDP (2013 est.)
country comparison to the world: 117
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
3.3% of GDP (2013 est.)
country comparison to the world: 161

0.4% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.2% (2013 est.)
country comparison to the world: 159

6.8% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
14% (31 December 2013 est.)
country comparison to the world: 53

13.52% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$419.4 million (31 December 2013 est.)
country comparison to the world: 163

$408.2 million (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$799.5 million (31 December 2013 est.)
country comparison to the world: 173

$591.3 million (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$705.4 million (31 December 2013 est.)
country comparison to the world: 161

$521.9 million (31 December 2012 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:
-$742.4 million (2013 est.)
country comparison to the world: 113

-$918.8 million (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$929.8 million (2013 est.)
country comparison to the world: 164

$774.8 million (2012 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:
$2.457 billion (2013 est.)
country comparison to the world: 155

$2.275 billion (2012 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:
$438.1 million (31 December 2013 est.)
country comparison to the world: 178

$349.2 million (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$4.241 billion (31 December 2013 est.)
country comparison to the world: 92

$3.574 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA (31 December 2013 est.)

$NA (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

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

77.63 (2013 est.)
73.515 (2012 est.)
71.403 (2010 est.)


NOTE: The information regarding Liberia on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liberia Economy 2015 information contained here. All suggestions for corrections of any errors about Liberia Economy 2015 should be addressed to the CIA.



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