unbekannter Gast

Liberia: Economy#

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.

Economic Facts#

GDP (purchasing power parity)$2.898 billion (2013 est.)
$2.681 billion (2012 est.)
$2.475 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate8.1% (2013 est.)
8.3% (2012 est.)
7.9% (2011 est.)
GDP - per capita (PPP)$700 (2013 est.)
$700 (2012 est.)
$600 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.)
Population below poverty line80% (2000 est.)
Household income or consumption by percentage sharelowest 10%: 2.4%
highest 10%: 30.1% (2007)
Labor force - by occupationagriculture: 70%
industry: 8%
services: 22% (2000 est.)
Exports - commoditiesrubber, timber, iron, diamonds, cocoa, coffee
Exports - partnersChina 24%, US 15.3%, Spain 11%, Algeria 6.5%, Thailand 4.5%, Malaysia 4.1%, France 4% (2012)
Agriculture - productsrubber, coffee, cocoa, rice, cassava (manioc, tapioca), palm oil, sugarcane, bananas; sheep, goats; timber
Budgetrevenues: $465 million
expenditures: $521.7 million (2013 est.)
Imports - commoditiesfuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs
Imports - partnersSouth Korea 26.7%, China 24.4%, Singapore 23.2%, Japan 16.1% (2012)
Exchange ratesLiberian dollars (LRD) per US dollar -
77.63 (2013 est.)
73.515 (2012 est.)
71.403 (2010 est.)
Exports$929.8 million (2013 est.)
$774.8 million (2012 est.)
Debt - external$438.1 million (31 December 2013 est.)
$349.2 million (31 December 2012 est.)
Fiscal yearcalendar year
Imports$2.457 billion (2013 est.)
$2.275 billion (2012 est.)
Industrial production growth rateNA%
Industriesmining (iron ore), rubber processing, palm oil processing, timber, diamonds
Inflation rate (consumer prices)5.2% (2013 est.)
6.8% (2012 est.)
Labor force1.372 million (2007)
Unemployment rate85% (2003 est.)
Public debt3.3% of GDP (2013 est.)
0.4% of GDP (2012 est.)
Current account balance-$742.4 million (2013 est.)
-$918.8 million (2012 est.)
GDP (official exchange rate)$1.977 billion (2013 est.)
Stock of direct foreign investment - at home$4.241 billion (31 December 2013 est.)
$3.574 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$NA (31 December 2013 est.)
$NA (31 December 2012 est.)
Market value of publicly traded shares$NA
Commercial bank prime lending rate14% (31 December 2013 est.)
13.52% (31 December 2012 est.)
Stock of domestic credit$705.4 million (31 December 2013 est.)
$521.9 million (31 December 2012 est.)
Stock of narrow money$419.4 million (31 December 2013 est.)
$408.2 million (31 December 2012 est.)
Stock of broad money$799.5 million (31 December 2013 est.)
$591.3 million (31 December 2012 est.)
Taxes and other revenues23.5% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.9% of GDP (2013 est.)
GDP - composition, by end usehousehold 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.)
Gross national savingNA (2012 est.)
-36.6% of GDP (2011 est.)