Economy of Liberia
Population: 4.82 M (2018)
GDP per Capita: 677 USD (2018)
3,260 M.

GDP USD

(2018)

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850 M.

EXPORTS USD

(2018)

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3,080 M.

IMPORTS USD

(2018)

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39.91 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.22 % (2018)
GDP of 2010 USD USD 2.60 B. (2018)
GDP Current USD USD 3.26 B. (2018)
GDP per Capita Current USD USD 677 (2018)
GDP per capita, PPP USD 1,161 (2018)
GDP per Capita, 2010 USD USD 541 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 16.61 % (2018)
Government Spending USD 0.54 B. (2018)
Government Debt % GDP 39.91 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 130.78 (2018)
Trade Openness 120.34 % (2018)
Exports of Goods and Services % GDP 26.01 % (2018)
Exports Goods & Services USD 0.85 B. (2018)
Exports Annual Growth 0.76 % (2018)
Imports as % GDP 94.33 % (2018)
Total Imports USD 3.08 B. (2018)
Foreign Direct Investment % GDP 3.96 % (2018)
Foreign Direct Investment USD 0.12 B. (2018)
Current Account Balance % GDP USD -20.65 % (2018)
Current Account Balance USD -0.67 B. (2018)
Trade Balance % GDP -68.32 % (2018)
Trade Balance USD -0.72 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.56 B. (2018)
Remittances % GDP 11.87 % (2018)
Remittances USD 437 M. (2018)
Balance of Payments USD 437 M. (2018)

Labor Market

Indicator Value
Labor Force 1.64 M. (2019)
Unemployment Rate 2.03 % (2019)
Unemployment Rate Females 2.22 % (2019)
Unemployment Rate Males 3.35 % (2019)
Youth Unemployment (ages 15-24) 2.92 % (2019)
Labor Force Participation Rate 56.04 % (2019)
Labor Force (Percent Female) 47.45 % (2019)
Female Labor Force Participation Rate 54.65 % (2019)
Male Labor Force Participation Rate 57.43 % (2019)
Dependent People 79.79 % (2018)

Agriculture Sector

Indicator Value
Forest Area 43.10 % (2016)
Forest Area km² 41,490 km² (2016)
Agricultural Land 28.03 % (2016)
Agricultural Land km² 27,000 km² (2016)
Employment 45.81 % (2019)
Value added % GDP 37.28 % (2018)
Agriculture Value added USD 1.22 B. (2018)
Crop Production Index 109.40 (2016)
Precipitation 2,391 mm (2014)
Arable Land 5 % (2016)
Cereal Yield 1,284 kg/hectare (2017)
Food production index 136 (2016)
Rural Population 49 % (2018)
Fertilizer use of Arable Land 136 (2016)
Livestock Production Index 141 (2016)
Economy of Liberia

According to the World Bank and its latest published data, the economy of the Liberia presents a growth rate of 1.22 % (2018) to the previous year.

With a population that reaches 4.82 M (2018) and a gross domestic product of USD 3.26 B. (2018), it translates a Gross Domestic Product per Capita of USD 677 placing its inhabitants on the threshold of an Low-income country (according to the World Bank's updated classification).

Liberia also has a workforce of 1.64 M. (2019) with an unemployment rate of 2.03 % (2019), where women represent 2.22 % (2019) and men 3.35 % (2019), the unemployment rate for young people between 15-24 years old stood at 2.92 % (2019). The total number of dependent people stands at 79.79 % (2018).

The central government spent 16.61 % (2018) of its gross domestic product that year, which in absolute terms is USD 0.54 B. (2018). Its consolidated public debt reached 39.91 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Liberia exported USD 0.85 B. (2018), which represents 26.01 % (2018) of its gross domestic product, in that same sense its imports reached USD 3.08 B. (2018) with a direct foreign investment of USD 0.12 B. (2018).

Liberia has a forest area of 41,490 km² (2016), which represents 43.10 % (2016) of its total area, an average rainfall of 2,391 mm (2014) per year and a population of 49 % (2018) living in rural areas. With a total area of 27,000 km² (2016) available for agriculture and 45.81 % (2019) of its employments, the agricultural sector contributes to the economy of the Liberia about USD 1.22 B. (2018) (37.28 % (2018) of its GDP).