Economy


Liberia is one of the poorest countries in the world, with an annual average income per capita is no more than US $ 250, and the country's official employment rate is about 15% due to the political circumstances that have existed in the country since 1980 after the military coup. Civil war also erupted and lasted until the year 2003. Economic growth accelerated since that time by attracting investments in the areas of exploration for oil, diamonds and the agricultural sector.

Although Liberia has a small domestic market of 4 million consumers, rebuilding the post-war economy from scratch provides many foreign investors with opportunities in agriculture, mining, services and manufacturing.

Liberia's main export hub is the United States, China and Europe. Major imports include food, live animals, machinery and transport equipment, manufactured goods and petroleum products.

At the moment, the export sector in Liberia is heavily dependent on rubber and iron ore, which accounted for 82.5% of exports in 2013. The export earnings of iron ore increased significantly in 2013, due to increased domestic production and increased volume of exports from ArcelorMittal (Indian) and China Union (Chinese).