| People | Liberia |
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Economy - overview:
|
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, some have returned. 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 banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. |
GDP (purchasing power parity):
|
$1.498 billion (2007 est.) |
GDP (official exchange rate):
|
$732 million (2007 est.) |
GDP - real growth rate:
|
8.5% (2007 est.) |
GDP - per capita (PPP):
|
$500 (2007 est.) |
GDP - composition by sector:
|
agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
80% (2000 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
15% (2003 est.) |
Labor force:
|
void |
Labor force participation rate:
|
void |
Labor force - by occupation:
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agriculture: 70%
industry: 8%
services: 22% (2000 est.) |
Unemployment rate:
|
85% (2003 est.) |
Budget:
|
revenues: NA
expenditures: NA |
Budget revenues per capita:
|
void |
Public debt:
|
void |
Industries:
|
rubber processing, palm oil processing, timber, diamonds |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
319.3 million kWh (2005) |
Electricity - production per capita:
|
96 kWh per capita |
Electricity - consumption:
|
296.9 million kWh (2005) |
Electricity - consumption - per capita:
|
90 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
3,550 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
0.39 bbl/year per capita |
Oil - exports:
|
23.31 bbl/day (2004) |
Oil - imports:
|
3,532 bbl/day (2004) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
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$1.197 billion f.o.b. (2006) |
Exports per capita:
|
359 USD per capita |
Exports - commodities:
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rubber, timber, iron, diamonds, cocoa, coffee |
Exports - partners:
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Germany 40.1%, South Africa 12%, Poland 11.7%, US 8.5%, Spain 8.2% (2006) |
Imports:
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$7.143 billion f.o.b. (2006) |
Imports per capita:
|
2,143 USD per capita |
Imports - commodities:
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fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs |
Imports - partners:
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South Korea 43.2%, Singapore 15%, Japan 12.8%, China 8.2% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$3.2 billion (2005 est.) |
Debt - external - per capita:
|
960 USD per capita |
Stock of direct foreign investment - at home:
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$NA |
Stock of direct foreign investment - abroad:
|
$NA |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$236.2 million (2005) |
Economic aid - recipient per capita:
|
71 USD per capita |
Currency (code):
|
Liberian dollar (LRD) |
Exchange rates:
|
Liberian dollars per US dollar - NA (2007), 59.43 (2006), 53.098 (2005), 54.906 (2004), 59.379 (2003) |
Fiscal year:
|
calendar year |
|
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