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Liberia

Introduction to Liberia

Years of fighting, coupled with the flight of most businesses, have disrupted formal economic activity. A still unsettled domestic security situation has slowed the process of rebuilding the social and economic structure of this war-torn country. President TAYLOR, who won the 1997 presidential elections after an eight-year-long civil war, was never able to fully eliminate rebel groups that sought to oust him by force. Rebel attacks on Monrovia, coupled with two years of UN-imposed sanctions for TAYLOR'S meddling in Sierra Leone's civil war, finally prompted TAYLOR'S abdication from power in August 2003. A transitional government - composed of rebel, government, and civil society groups - assumed control in October 2003. Chairman Gyude BRYANT, who has a two-year mandate to oversee efforts to rebuild Liberia, heads the new government.

Government

Capital:

Monrovia 

Independence:

26 July 1847 

National holiday:

Independence Day, 26 July (1847) 

Economy

Economy overview:

Civil war and misgovernment have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, 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 National Transition Government of Liberia (NTGL), and the arrival of a UN mission are all encouraging signs that the political crisis is coming to an end. The restoration of infrastructure and the raising of incomes in this ravaged economy depend on the implementation of sound macro- and micro-economic policies, including the encouragement of foreign investment, and generous support from donor countries. 

GDP:

purchasing power parity - $3.261 billion (2004 est.) 

GDP - composition by sector:

agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.)

Agriculture products:

rubber, coffee, cocoa, rice, cassava (tapioca), palm oil, sugarcane, bananas; sheep, goats; timber 

Industries:

rubber processing, palm oil processing, timber, diamonds 

Transportation

Ports and harbors:

Buchanan, Greenville, Harper, Monrovia, Robertsport

Merchant marine:

total: 1,449 ships (1,000 GRT or over) 50,555,752 GRT/79,125,329 DWT
registered in other countries: 35 (2003 est.)
foreign-owned: Argentina 9, Australia 3, Austria 16, Belgium 8, Bermuda 1, Brazil 5, Chile 7, China 40, Croatia 11, Cyprus 4, Denmark 4, Estonia 1, France 3, Germany 510, Greece 142, Hong Kong 56, Iceland 1, India 3, Indonesia 1, Israel 4, Italy 8, Japan 81, South Korea 7, Latvia 22, Isle of Man 5, Mexico 1, Monaco 59, Netherlands 11, Nigeria 2, Norway 54, Panama 1, Poland 2, Portugal 6, Russia 68, Saudi Arabia 23, Singapore 43, Slovenia 1, Spain 1, Sri Lanka 1, Sweden 9, Switzerland 7, Taiwan 36, Turkey 3, Ukraine 3, United Kingdom 36, United States 95, Uruguay 3
by type: bulk 278, cargo 67, chemical tanker 161, combination bulk 10, combination ore/oil 20, container 388, liquefied gas 77, multi-functional large load carrier 3, passenger 3, petroleum tanker 317, refrigerated cargo 62, roll on/roll off 14, short-sea/passenger 3, specialized tanker 13, vehicle carrier 33

Airports:

53 (2003 est.)