Liberia
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Introduction - Liberia: | Location - Liberia: | People - Liberia: | Government - Liberia: | Economy - Liberia: | Economy overview | Civil war and government mismanagement have destroyed much of Liberias 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. | | Gdp purchasing power parity | $2.821 billion (2006 est.) | | Gdp official exchange rate | $902.9 million (2006 est.) | | Gdp real growth rate | 7.8% (2006 est.) | | Gdp per capita ppp | $900 (2006 est.) | | Gdp composition by sector | agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.) | | Labor force by occupation | agriculture: 70%
industry: 8%
services: 22% (2000 est.) | | Unemployment rate | 85% (2003 est.) | | Population below poverty line | 80% (2000) | | Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% | | Inflation rate consumer prices | 15% (2003 est.) | | Budget | revenues: $85.4 million
expenditures: $90.5 million; including capital expenditures of $NA (2000 est.) | | Agriculture products | rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber | | Industries | rubber processing, palm oil processing, timber, diamonds | | Industrial production growth rate | NA% | | Electricity production | 325 million kWh (2004) | | Electricity consumption | 302.3 million kWh (2004) | | Electricity exports | 0 kWh (2004) | | Electricity imports | 0 kWh (2004) | | Oil production | 0 bbl/day (2004 est.) | | Oil consumption | 3,500 bbl/day (2004 est.) | | Oil exports | 23 bbl/day | | Oil imports | NA bbl/day | | Oil proved reserves | 0 bbl | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 0 cu m (2004 est.) | | Exports | $910 million f.o.b. (2004 est.) | | Exports commodities | rubber, timber, iron, diamonds, cocoa, coffee | | Exports partners | Germany 23.4%, South Africa 16.1%, Poland 15.7%, US 11.3%, Spain 11%, Thailand 4.1% (2006) | | Imports | $4.839 billion f.o.b. (2004 est.) | | Imports commodities | fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs | | Imports partners | South Korea 40.2%, Singapore 16%, Japan 13.6%, China 8.7% (2006) | | Debt external | $3.2 billion (2005 est.) | | Economic aid recipient | $94 million (1999) | | Currency code | Liberian dollar (LRD) | | 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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This page was last updated on 16 September, 2007 Source: CIA >>> |