| Economy - overview: | Civil war and government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia, while continued international sanctions on diamonds and timber exports will limit growth prospects for the foreseeable future. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, but many will not. 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. The departure of the former president, Charles TAYLOR, to Nigeria in August 2003, the establishment of the all-inclusive Transitional Government, and the arrival of a UN mission have helped diffuse the political crisis, but have done little to encourage economic development. Wealthy international donors, who are ready to assist recontruction efforts, are withholding funding until Liberia's National Assembly signs onto a Governance and Economic Management Action Plan (GEMAP). The Plan was created in October 2005 by the International Contact Group for Liberia to help ensure transparent revenue collection and allocation - something that was lacking under the Transitional Government and that has limited Liberia's economic recovery. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial support and technical assistance from donor countries. |
| GDP - per capita | $700 (2005 est.) |
| GDP - real growth rate (%) | 8% (2005 est.) |
| Agriculture - products | rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber |
| GDP - composition by sector (%) | agriculture: 76.9%, industry: 5.4%, services: 17.7% (2002 est.) |
| Industries | rubber processing, palm oil processing, timber, diamonds |
| Economic aid - recipient | $94 million (1999) |
| Debt - external | $3.2 billion (2005 est.) |
| Population below poverty line (%) | 80% |
| Labor force - by occupation (%) | agriculture 70%, industry 8%, services 22% (2000 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
