The Liberia economy depends on rubber, iron ore, and agriculture. Mining and timber exports drive revenue, while subsistence farming employs most of the population. Post-conflict recovery and foreign aid support growth, but weak infrastructure, corruption, and poverty hinder progress. Efforts to diversify into palm oil and improve education face funding constraints, with Ebola and global commodity price fluctuations posing ongoing risks to economic stability.
Liberia Economy Size
Liberia’s economy, worth $4 billion, is among Africa’s smallest, with mining and agriculture driving its GDP, limited by poverty and infrastructure. See Liberia GDP.
Liberia Purchasing Power Parity (PPP)
Liberia’s economy has a PPP GDP of $10 billion, over double its $4 billion nominal GDP, driven by low costs for mining and agriculture. PPP per capita is around $2,000, indicating severe poverty. Domestic pricing supports subsistence activities, but infrastructure and conflict constrain broader PPP-driven economic gains.
Liberia Growth Rate
The economic growth rate is 3.5% in 2024, driven by iron ore and agriculture. Rubber exports and foreign investment support growth, but infrastructure deficits and governance issues limit gains. Regional trade and mining projects drive resilience, while stability enhances momentum, positioning the small economy for moderate progress.
Liberia Inflation
Liberia’s inflation rate is about 7% in 2024, driven by rising global food and fuel prices in this import-dependent economy. Currency depreciation and weak agricultural output increase costs, while mining exports fuel demand. Poor infrastructure sustains price volatility, but monetary tightening and aid help moderate inflation in this small market.
