| Economy - overview | Civil war and government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, but many will not. 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. Local manufacturing, mainly foreign owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained economist, has taken steps to reduce corruption, build support from international donors, and encourage private investment. An embargo on timber exports has been lifted, opening a source of revenue for the government, but diamonds remain under UN sanctions. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial support and technical assistance from donor countries. |
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| GDP | 1.3% (2006 est.) |
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| GDP - real growth rate | 7.8% (2006 est.) |
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| GDP - composition by sector | agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.) |
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| Population below poverty line | 80% (2000) |
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Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
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| Labor force - by occupation | agriculture: 70%
industry: 8%
services: 22% (2000 est.) |
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| Unemployment rate | 85% (2003 est.) |
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| Budget | revenues: $85.4 million
expenditures: $90.5 million; including capital expenditures of $NA (2000 est.) |
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| Industries | rubber processing, palm oil processing, timber, diamonds |
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| Industrial production growth rate | NA% |
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Electricity -
production | 325 million kWh (2004) |
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Electricity -
production by source | fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001) |
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Electricity -
consumption | 302.3 million kWh (2004) |
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Electricity -
exports | 0 kWh (2004) |
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Electricity -
imports | 0 kWh (2004) |
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| Oil - production | 0 bbl/day (2004 est.) |
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| Oil - consumption | 3,500 bbl/day (2004 est.) |
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| Oil - imports | NA bbl/day |
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| Agriculture - products | rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber |
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| Exports | $910 million f.o.b. (2004 est.) |
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| Exports - commodities | rubber, timber, iron, diamonds, cocoa, coffee |
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| Exports - partners | Belgium 40.7%, Spain 15.2%, US 8.9%, Malaysia 5.4%, Thailand 4.5%, Poland 4.5%, Germany 4.3% (2005) |
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| Imports | $4.839 billion f.o.b. (2004 est.) |
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| Imports - commodities | fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs |
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| Imports - partners | South Korea 38.1%, Japan 21.2%, Singapore 14.3%, Croatia 4.7% (2005) |
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| Debt - external | $3.2 billion (2005 est.) |
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| Economic aid - recipient | $94 million (1999) |
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| Currency code | LRD |
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| Exchange rates | Liberian dollars per US dollar - 59.43 (2006), 53.098 (2005), 54.906 (2004), 59.379 (2003), 61.754 (2002) |
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| Fiscal year | calendar year |
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