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Settlement of freed slaves from the US in what is today Liberia began in 1822; by 1847, the Americo-Liberians were able to establish a republic. William TUBMAN, president from 1944-71, did much to promote foreign investment and to bridge the economic, social, and political gaps between the descendants of the original settlers and the inhabitants of the interior. In 1980, a military coup led by Samuel DOE ushered in a decade of authoritarian rule. In December 1989, Charles TAYLOR launched a rebellion against DOE's regime that led to a prolonged civil war in which DOE was killed. A period of relative peace in 1997 allowed for an election that brought TAYLOR to power, but major fighting resumed in 2000. An August 2003 peace agreement ended the war and prompted the resignation of former president Charles TAYLOR, who was convicted by the UN-backed Special Court for Sierra Leone in The Hague for his involvement in Sierra Leone's civil war. After two years of rule by a transitional government, democratic elections in late 2005 brought President Ellen JOHNSON SIRLEAF to power. She subsequently won reelection in 2011 and remains challenged to rebuild Liberia's economy, particularly following the 2014-15 Ebola epidemic, and to reconcile a nation still recovering from 14 years of fighting. The UN Security Council in September 2015 passed Resolution 2239, which renewed the mandate for the UN Mission in Liberia for another year. In July 2016, the UN handed over peacekeeping responsibility to Liberia and reduced the UN troop presence, which now serves a support role. Liberia is scheduled to hold presidential and legislative elections in October 2017. Constitutional term limits bar

Location

Western Africa, bordering the North Atlantic Ocean, between Cote d'Ivoire and Sierra Leone

Natural Resources

iron ore, timber, diamonds, gold, hydropower

Population - distribution

more than half of the population lives in urban areas, with approximately one-third living within an 80-km radius of Monrovia

3685076
English 20% (official), some 20 ethnic group languages few of which can be written or used in correspondence
MONROVIA (capital) 1.264 million (2015)
Conventional long form
Republic of Liberia
Conventional short form
Liberia
Local long form
Local short form
presidential republic
Name
Monrovia
Geographic coordinates
6 18 N, 10 48 W
Time difference
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Liberia is a low-income country that relies heavily on foreign assistance and remittances from the diaspora. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, diamonds, and gold. Palm oil and cocoa are emerging as new export products. The government has attempted to revive raw timber extraction and is encouraging oil exploration.
Inflation
7.783%
External debt stocks
US$ 836,336,000
Total tax rate (% of commercial profits)
45.9%
Real Interest Rate
8.208%
Manufacturing, value added (% of GDP)
3.046%
Current Account Balance
US$ -859,626,471
Labor Force, Total
1,628,379
Employment in Agriculture
46.47%
Employment in Industry
10.45%
Employment in Services
41.25%
Unemployment Rate
4.00%
Imports of goods and services
US$ 2,106,800,000
Exports of goods and services
US$ 450,000,000
Total Merchandise Trade
122.75%
FDI, net inflows
US$ 721,033,135
Commercial Service Exports
US$ 60,877,940
rubber, coffee, cocoa, rice, cassava (manioc, tapioca), palm oil, sugarcane, bananas; sheep, goats; timber
mining (iron ore and gold), rubber processing, palm oil processing, diamonds
Commodities
rubber, timber, iron, diamonds, cocoa, coffee
Partners
Poland 32.9%, China 20.7%, India 9.4%, US 5%, Greece 4.6%, France 4.3% (2015)
Commodities
fuels, chemicals, machinery, transportation equipment, manufactured goods; foodstuffs
Partners
Singapore 28.8%, China 16%, South Korea 15.3%, Japan 10.3%, Philippines 6.7% (2015)
Country Risk Rating
D
A high-risk political and economic situation and an often very difficult business environment can have a very significant impact on corporate payment behavior. Corporate default probability is very high.
Business Climate Rating
D
The business environment is very difficult. Corporate financial information is rarely available and when available usually unreliable. The legal system makes debt collection very unpredictable. The institutional framework has very serious weaknesses. Intercompany transactions can thus be very difficult to manage in the highly risky environments rated D.
  • Diversity of natural resources (rubber, wood, iron, gold, diamonds and oil)
  • Strong support from the international community
  • Increasing investment in the mining sector and infrastructure
  • Member of the Economic Community of West African States (ECOWAS)
  • Deficient infrastructure
  • Dependency on the price of commodity exports, energy, and food products
  • High levels of poverty and unemployment
  • Recent and fragile democracy
  • Difficult business climate
  • Recent Ebola epidemic

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