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Liberia
- Economy
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Overview
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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, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. 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.
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GDP
(Gross
domestic product) |
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Purchasing
power parity:
$ 1,578,000,000
USD (2009)
Rank: 190
Official
exchange rate:
$876 million
Composition by
sector
- agriculture: 76.9%
- industry: 5.4%
- services: 17.7%
Per capita: $ 400
(2009 est.)
Rank: 225
Real growth rate: 4.6
(2009 est.)
Rank: 35
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Industrial Sector &
Agriculture |
Industries: rubber processing, palm oil processing, timber, diamonds
Industrial production growth rate:
( )
Rank:
Agriculture - products: rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber
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Labor Force
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Labor force:
( )
Rank:
by
occupation: agriculture: 70%; industry: 8%; services: 22% (2000 est.)
Unemployment rate:
85
(2003 est.)
Rank: 197
Population below poverty
line: 80%
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Financial Data |
Currency: Liberian dollar (LRD)
Code:
LRDLR
Exchange rates: Liberian dollars per US dollar - NA (2003), 61.7542 (2002), 48.5833 (2001), 40.9525 (2000), 41.9025 (1999)
Currency Calculator
Current
account balance: $ -224,000,000
(2007)
Rank: 90
Budget
2000 est.
- revenues:
revenues: $85.4 million
- expenditures: expenditures: $90.5 million; including capital expenditures of $NA (2000 est.)
Inflation rate: 11,2
(2007 est.
Rank: 198
Reserves:
USD ( )
Rank:
Investment:
( )
Rank:
Public Debt:
USD ( )
Rank:
Debt - external: $2.1 billion (2000 est.)
(2005 est.)
Rank: 118
Economic Aid - Donor:
Economic Aid - Recipient: $236.2 million (2005)
Household income by percentage share highest
10%: NA
Household income by percentage share lowest 10%: NA
Bezugsjahr:
Gini Index:
Gini Index US:
Gini Index Bezugsjahr:
Corruption Index: 3.3
Corruption Rank: 87
Tourismus:
Tourismus-Einnahmen:
Fiscal year: calendar year
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Source:
CIA
World Factbook. This page was last updated on
18 February, 2011
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