Liberia:
Economy

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Other pages in this profile of Liberia:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $1.34 billion (2007 est.)
GDP (official exchange rate)	Definition $730 million (2007 est.)
GDP - real growth rate	Definition - World rank and map 9.4% (2007 est.)
GDP - per capita	Definition - World rank and map $400 (2007 est.)
GDP - composition by sector	Definition agriculture: 76.9% industry: 5.4% services: 17.7% (2002 est.)
Labor force - by occupation	Definition agriculture: 70% industry: 8% services: 22% (2000 est.)
Unemployment rate	Definition - World rank and map 85% (2003 est.)
Population below poverty line	Definition 80% (2000 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 11.2% (2007 est.)
Budget	Definition revenues: NA expenditures: NA
Agriculture - products	Definition rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber
Industries	Definition rubber processing, palm oil processing, timber, diamonds
Industrial production growth rate	Definition - World rank and map NA%
Electricity - production	Definition - World rank and map 319.3 million kWh (2005)
Electricity - consumption	Definition - World rank and map 296.9 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 89.1 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 3,550 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 1.1 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 23.31 bbl/day (2004)
Oil - imports	Definition - World rank and map 3,532 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$224 million (2007)
Exports	Definition - World rank and map $1.197 billion f.o.b. (2006)
Exports - commodities	Definition rubber, timber, iron, diamonds, cocoa, coffee
Exports - partners	Definition Malaysia 22.1%, South Africa 18.1%, Poland 14.9%, Germany 9.2%, US 8.4%, Spain 6.6%, South Korea 4.8%, Norway 4.4% (2006)
Imports	Definition - World rank and map $7.143 billion f.o.b. (2006)
Imports - commodities	Definition fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs
Imports - partners	Definition South Korea 38.2%, Singapore 19.4%, Japan 13.1%, China 10.2% (2006)
Debt - external	Definition - World rank and map $3.2 billion (2005 est.)
Stock of direct foreign investment - at home	Definition $NA
Stock of direct foreign investment - abroad	Definition $NA
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $236.2 million (2005)
Currency (code)	Definition Liberian dollar (LRD)
Exchange rates	Definition Liberian dollars per US dollar - NA (2007), 59.43 (2006), 53.098 (2005), 54.906 (2004), 59.379 (2003)
Fiscal year	Definition calendar year

Liberia: Economy

Liberia:
Economy