The cost of addressing the Ebola epidemic coincided with decreased economic activity reducing government revenue, although higher donor support significantly offset this loss. country comparison to the world (CIA rank, may be based on non-current data): 128 184 country comparison to the world (CIA rank, may be based on non-current data): 107 Liberia’s public debt is moderate at about 37.9% of GDP, with external debt at an estimated 33.5% of GDP.

174 The economy’s low private sector investment and narrow tax base limit fiscal revenues, increasing reliance on high-cost external loans— amid reduced aid and an accommodative monetary policy. Liberia - Economic Forecasts - 2020-2022 Outlook This page has economic forecasts for Liberia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Liberia economy. A tyre is used to mark the entrance to Firestone’s garage in the town of Harbel, Liberia Saturday, July 18, 2020. country comparison to the world (CIA rank, may be based on non-current data): country comparison to the world (CIA rank, may be based on non-current data): Its principal exports are iron ore, rubber, diamonds, and gold. Liberia GDP - values, historical data and charts - was last updated on August of 2020. source: World Bank. country comparison to the world (CIA rank, may be based on non-current data): The Liberian economy has faced uncertainty in the past two years due to declining mining exports and rising inflation and currency depreciation. country comparison to the world (CIA rank, may be based on non-current data): country comparison to the world (CIA rank, may be based on non-current data): 178 The government has taken measures to restrict external borrowing to concessional loans from its traditional partners and has committed to stop domestic borrowing to avoid crowding out private investment.Liberia’s population is estimated at 4.8 million, 71.0% under age 35 and nearly half under age 15. 129 country comparison to the world (CIA rank, may be based on non-current data):

However, during the 2014-2015 Ebola crisis, the economy declined and many foreign-owned businesses departed with their capital and expertise. A new development plan, the Pro-Poor Agenda for Prosperity and Development 2018–23, has prioritized infrastructure development and job creation.Liberia’s medium-term agenda focuses on regional integration, private investment and trade in the Mano River Union countries (Côte D’Ivoire, Guinea, Liberia, and Sierra Leone). country comparison to the world (CIA rank, may be based on non-current data): country comparison to the world (CIA rank, may be based on non-current data): 221 country comparison to the world (CIA rank, may be based on non-current data): Liberia is modernizing agriculture to increase productivity and reduce imports of staple foods— mainly rice. A new act regulates the establishment, development, and operations of special economic zones. Much of the conflict was fueled by control over Liberia’s natural resources. This page provides - Liberia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 125 185 Transport and energy deficits undermine private investment in mining, manufacturing, services, and agroprocessing. country comparison to the world (CIA rank, may be based on non-current data): Presidential and legislative elections in October 2017 generated election-related spending pressures.Revitalizing the economy in the future will depend on economic diversification, increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, combating corruption, and maintaining political stability and security. Real GDP growth, after declining to 0.4% in 2019, is expected to recover to 1.6% in 2020, underpinned by mining, forestry, and agriculture. Liberia is a low-income country that relies heavily on foreign assistance and remittances from the diaspora. Palm oil and cocoa are emerging as new export products. 154 161 Page last updated on January 27, 2020 154 The human and institutional capacity is inadequate to transform natural resources into wealth. 19 With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. country comparison to the world (CIA rank, may be based on non-current data): In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. country comparison to the world (CIA rank, may be based on non-current data): Inflation remained high at 21.7% in 2019.Liberia, traditionally, has relied on forestry (rubber and timber) and mining (gold, diamonds, and iron ore) as major sources of income. 31 country comparison to the world (CIA rank, may be based on non-current data): Macroeconomic stability is expected to improve in 2020 with the implementation of an IMF-supported program improving fiscal and monetary policies and tackling structural rigidities to create a favorable environment for private investment.Liberia is recovering from the Ebola crisis between 2014 and 2016, which plunged the economy into a recession, with real GDP contracting by 1.6% in 2016 due to capital flight and a fall in private investment. Future for Liberia's Rubber Farmers Shaky Amid Economic Woes The rubber industry in Liberia has gotten so bad that some farmers are cutting down their rubber trees with hopes of … 207 165 Real GDP growth, after declining to 0.4% in 2019, is expected to recover to 1.6% in 2020, underpinned by mining, forestry, and agriculture.Commercial gold exports, commercial palm oil production, and cocoa and fisheries investment have expanded. country comparison to the world (CIA rank, may be based on non-current data): 173 country comparison to the world (CIA rank, may be based on non-current data): 108

This could underpin job creation, create new income opportunities, and reduce food imports.


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