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)

Communications - Liberia:
Transportation - Liberia:
Military - Liberia:
This page was last updated on 16 September, 2007
Source: CIA >>>


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