Includes Liberia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Liberia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Liberia best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Monrovia
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Central Bank of Liberia |
---|---|
Currency | Liberian dollars (LRD) |
International Reserves |
USD 0.5 billion (2015) International Monetary Fund (IMF), data retrieved January 2017 |
Gross Domestic Product – GDP | USD 2.3 billion (2017, estimate) |
GDP (Purchasing Power Parity) | Intl$ 4.1 billion (2017, estimate) |
GDP Data
Real GDP growth |
2006: 8.2% 2007: 12.7% 2008: 6% 2009: 5.1% 2010: 6.1% 2011: 7.4% 2012: 8.3% 2013: 8.7% 2014: 0.7% 2015*: 0% 2016*: 2% 2017*: 4% *Estimate |
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GDP per capita – current prices | USD 518.4 (2017, estimate) |
GDP per capita – PPP | Intl$ 915.3 (2017, estimate) |
GDP (PPP) – share of world total |
1980: N/A 1990: N/A 2000: 0% 2010: 0% 2017*: 0.003% *Estimate |
GDP – composition by sector |
agriculture: 35.4% industry: 14.4% services: 50.2% (2016 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2013: 7.6% 2014: 9.9% 2015: 7.7% 2016*: 8.6% 2017*: 8.5% *Estimate |
Liberia
Inflation & Debt
Inflation |
2013: 7.6% 2014: 9.9% 2015: 7.7% 2016*: 8.6% 2017*: 8.5% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: N/A Moody’s: N/A Standard & Poor’s / Moody’s (Updated January 2017) |
Unemployment rate | N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2013: 27.5% 2014: 33.3% 2015: 39.2% 2016*: 42.8% 2017*: 46.2% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2013: -4.7% 2014: -1.8% 2015: -11.4% 2016*: -7.1% 2017*: -8.4% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 23.5% (2015) |
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Shares in world total merchandising export | 0.002% (2015) |
Shares in world total commercial services export | 0.005% (2015) |
Total exports | USD 363.9 million (2016 estimate) |
Export commodities | Rubber, timber, iron, diamonds, cocoa, coffee |
Total imports | USD 1.3 billion (2016 estimate) |
Import commodities | Fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs |
Exports – major partners | Poland 32.9%, China 20.7%, India 9.3%, US 5.1%, Greece 4.7%, France 4.3% (2015) |
Imports – major partners | Singapore 28.7%, China 16%, South Korea 15.3%, Japan 10.3%, Philippines 6.6% (2015) |
Competitiveness & Trade
Current account balance | USD -0.6 billion (2017 estimate) |
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Current account balance by percentage of GDP |
-26.6% (2017 estimate) |
FDI inflows |
2013: USD 1,061 million 2014: USD 277 million 2015: USD 512 million |
FDI Outflows |
2013: USD 698 million 2014: N/A 2015: N/A |
Value of cross-border M&A, by country of purchaser | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 174 out of 190 countries (2017) Subcategories: Starting a business: 37 out of 190 countries Enforcing Contracts: 176 out of 190 countries Registering Property: 179 out of 190 countries Getting Credit: 101 out of 190 countries Protecting Minority Investors: 179 out of 190 countries Trading Across Borders: 185 out of 190 countries Paying Taxes: 72 out of 190 countries Dealing with Construction Permits: 175 out of 190 countries Getting Electricity: 177 out of 190 countries Resolving Insolvency: 168 out of 190 countries |
Global competitiveness ranking |
131 out of 138 countries (2016-2017) |
Index of Economic Freedom |
Ranking: 143 / Score: 52.19 (Mostly unfree) (2016) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC 0 |
---|---|
Total Area | 111,369 sq km |
Total Population |
1990: N/A 2000: 3.065 million 2010*: 3.778 million 2016*: 4.399 million 2021*: 4.944 million *Estimate |
Urban population as % of total population |
1960: 19% 1980: 35% 2000: 44% 2016: 50% |
Population median age | 18.3 years (2016 estimate) |
Population growth rate | 2.44% (2016 estimate) |
Life expectancy | 59 years (2016 estimate) |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Political Rights: 3 Civil Liberties: 4 (2017) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 0.20% Mobile 81.09% (2015) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 5.9% (2015) |
Language & Religon
Languages |
English 20% (official), some 20 ethnic group languages few of which can be written or used in correspondence |
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Literacy |
Total population: 47.6% Male: 62.4% Female: 32.8% (2015 est.) (age 15 and over can read and write) |
Religions |
Christian 85.6%, Muslim 12.2%, Traditional 0.6%, other 0.2%, none 1.4% (2008 Census) |
World Rankings
Population | 4.944 M |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 0.2 (2013) |
Global Finance Rankings & Awards: Liberia
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000