Economy of Liberia

Gross Domestic Product 2012

GDP (purchasing power parity): $2.693 billion

GDP real growth rate: 9%

GDP per capita (PPP): $700

GDP composition by sector

Agriculture: 76.9%

Industry: 5.4%

Services: 17.7%

Inflation: 5.5%[iii]

Currency: Liberian dollar (LRD)

Business Languages

The commercial languages include the following

English

Transport

The key means of transport in Liberia include; roads’ covering 10,600 kilometres, 480 kilometres of rail, air transport with Slok Air International as the international airport and the country hasPorts and harbours and Merchant marine.

Energy

Energy in Liberia is dominated by biomass with a share of more than 80% of the used primary energy sources and electricity capacity of 22, 6 MW of Diesel power. Imported petroleum products are predominantly used for economic production and transportation in the country.

Challenges in Liberia

  • There are no adequate port facilities
  • Lack of capacity in human resources and industry expertise
  • Lack of qualified local personnel
  • Under-developed infrastructures
  • Implementation of good governance practices