(top and bottom) alternating
with white; there is a white five-pointed star on a blue square in
the upper hoist-side corner; the design was based on the US flag

Economy Liberia

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 (2003 est.)

GDP - real growth rate:
3% (2003 est.)

GDP - per capita:
purchasing power parity - $1,000 (2003 est.)

GDP - composition by sector:
agriculture: 76.9%
industry: 5.4%
services: 17.7% (2002 est.)

Population below poverty line:
80%

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
15% (2003 est.)

Labor force - by occupation:
agriculture 70%, industry 8%, services 22% (2000 est.)

Unemployment rate:
85% (2003 est.)

Budget:
revenues: $85.4 million
expenditures: $90.5 million, including capital expenditures of NA
(2000 est.)

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

Industries:
rubber processing, palm oil processing, timber, diamonds

Industrial production growth rate:
NA

Electricity - production:
468.8 million kWh (2001)

Electricity - consumption:
435.9 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 e