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Liberia Economy 2016
https://allcountries.org/world_fact_book_2016/liberia/liberia_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES











Liberia Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 11, 2016

Economy - overview:
Liberia is a low income country that relies heavily on foreign assistance. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, gold and timber. The Government has attempted to revive raw timber extraction and is encouraging oil exploration. In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during 2010-13 due to favorable world prices for its commodities. However, in 2014 as the Ebolavirus began to spread, the economy declined and many businesses departed, taking capital and expertise with them. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. Revitalizing the economy in the future will depend on increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, and maintaining political stability and security. The cost of addressing the Ebola epidemic will weigh heavily on public finances at the same time decreased economic activity reduces government revenue, although higher donor support will partly offset this loss.

GDP (purchasing power parity):
$3.78 billion (2015 est.) $3.747 billion (2014 est.) $3.722 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 179
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.015 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.9% (2015 est.) 0.7% (2014 est.) 8.7% (2013 est.)
country comparison to the world: 184
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$900 (2015 est.) $900 (2014 est.) $900 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 224
[see also: GDP - per capita country ranks ]

Gross national saving:
NA% (2014 est.) -35% of GDP (2013 est.) -2.3% of GDP (2012 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 116.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 25.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -5.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 32.4%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -89.5% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 36%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 16%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
-0.5% (2015 est.)
country comparison to the world: 166
[see also: Industrial production growth rate country ranks ]

Labor force:
1.6 million (2015 est.)
country comparison to the world: 130
[see also: Labor force country ranks ]

Labor force - by occupation:
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 ]

Unemployment rate:
85% (2003 est.)
country comparison to the world: 206
[see also: Unemployment rate country ranks ]

Population below poverty line:
63.8% (2007 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)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $681.5 million
[see also: Budget revenues country ranks ]
expenditures: $809.2 million (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
33.8% of GDP (2015 est.)
country comparison to the world: 71
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.3% of GDP (2015 est.)
country comparison to the world: 184
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
6.7% of GDP (2015 est.) 0.5% of GDP (2014 est.)
country comparison to the world: 173
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
8.2% (2015 est.) 9.8% (2014 est.)
country comparison to the world: 199
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
14.2% (31 December 2015 est.) 13.5% (31 December 2014 est.)
country comparison to the world: 47
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$444.1 million (31 December 2015 est.) $449.7 million (31 December 2014 est.)
country comparison to the world: 167
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$738.7 million (31 December 2014 est.) $656 million (31 December 2013 est.)
country comparison to the world: 175
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$558.3 million (31 December 2015 est.) $678.8 million (31 December 2014 est.)
country comparison to the world: 168
[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:
-$839 million (2015 est.) -$578 million (2014 est.)
country comparison to the world: 113
[see also: Current account balance country ranks ]

Exports:
$440.1 million (2015 est.) $468.2 million (2014 est.)
country comparison to the world: 177
[see also: Exports country ranks ]

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

Exports - partners:
China 31.9%, Greece 8.8%, US 8.6%, Germany 8.2%, France 7.3%, Spain 4.8% (2014)

Imports:
$1.21 billion (2015 est.) $1.052 billion (2014 est.)
country comparison to the world: 174
[see also: Imports country ranks ]

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

Imports - partners:
Singapore 33.9%, South Korea 25.6%, China 14.7%, Japan 9.1% (2014)

Debt - external:
$652.2 million (31 December 2014 est.) $541.5 million (31 December 2013 est.)
country comparison to the world: 174
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$17.01 billion (31 December 2014 est.) $16.56 billion (31 December 2013 est.)
country comparison to the world: 83
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$201 million (31 December 2013 est.) $201 million (31 December 2012 est.)
country comparison to the world: 91
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Liberian dollars (LRD) per US dollar - 86.13 (2015 est.) 83.89 (2014 est.) 83.89 (2013 est.) 73.52 (2012 est.) 72.23 (2011 est.)


NOTE: The information regarding Liberia on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Liberia Economy 2016 information contained here. All suggestions for corrections of any errors about Liberia Economy 2016 should be addressed to the CIA.




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