Overview: This page contains the latest international trade data for Liberia, including service trade data, and tariffs. In 2018 Liberia was the number 162 economy in the world in terms of GDP (current US$), the number 140 in total exports, the number 137 in total imports, and the number 114 most complex economy according to the Economic Complexity Index (ECI). In 2018, Liberia exported $1.3B and imported $4.3B, resulting in a negative trade balance of -$3B. In 2018, Liberia's exports per capita were $271 and its imports per capita were $892.
In 2018 Liberia exported a total of $1.3B, making it the number 140 exporter in the world. During the last five reported years the exports of Liberia have changed by $152M from $1.15B in 2013 to $1.3B in 2018.
In 2018 Liberia imported $4.3B, making it the number 137 trade destination in the world. During the last five reported years the imports of Liberia changed by -$5.21B from $9.51B in 2013 to $4.3B in 2018.
In 2018, Liberia exported $10.4M worth of services. The top services exported by Liberia in 2018 were Insurance services ($10M) and Government services, n.i.e. ($382k).
The top services imported by Liberia in 2018 were Transportation ($87.9M), Insurance services ($65.8M), Other business services ($15.8M), Business travel ($7.66M), and Government services, n.i.e. ($4.23M).
This section shows forecasts for total product exports and imports for Liberia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Liberia are:136: Most Favoured Nation duty rate treatement204: Preferential tariff for Economic Community of West African States (ECOWAS)
During the last 12 years Liberia's economy has become relatively less complex, moving from the 85th to the 114th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Liberia has a high level of specialization in Rubber (119), Scrap Vessels (96.9), Passenger and Cargo Ships (89.7), Rough Wood (44.7), and Cocoa Beans (27.8). Specialization is measured using RCA, an index that takes the ratio between Liberia observed and expected exports in each product.
The top export opportunities for Liberia according to the relatedness index, are Coconut Oil (0.051), Petroleum Gas (0.05), Non-fillet Frozen Fish (0.046), Scrap Lead (0.046), and Tropical Fruits (0.045). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Liberia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Liberia
