Liberia
2020 Product Exports | Imports: $937M | $9.56B, 157 of 226 | 102 of 226
2020 Per Capita Product Exports | Imports: $185 | $1.89k, 181 of 219 | 112 of 219
2018 Service Exports | Imports : $10.4M | $181M, 125 of 125 | 119 of 125
Overview In 2020 Liberia was the number 157 economy in the world in terms of total exports and the number 102 in total imports.
Exports The top exports of Liberia are Iron Ore ($322M), Gold ($237M), Passenger and Cargo Ships ($153M), Rubber ($108M), and Cocoa Beans ($32.8M), exporting mostly to France ($119M), Switzerland ($101M), Turkey ($98.4M), Cyprus ($91M), and Germany ($87.5M).
Imports The top imports of Liberia are Passenger and Cargo Ships ($5.9B), Refined Petroleum ($1.49B), Boat Propellers ($267M), Centrifuges ($217M), and Special Purpose Ships ($158M), importing mostly from China ($3.4B), Japan ($2.16B), South Korea ($2.14B), Germany ($320M), and Cyprus ($233M).
Location Liberia borders Cote d'Ivoire, Guinea, and Sierra Leone by land.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Liberia.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionIn 2020, Liberia exported a total of $937M, making it the number 157 exporter in the world. During the last five reported years the exports of Liberia have changed by -$730M from $1.67B in 2015 to $937M in 2020.
The most recent exports are led by Iron Ore ($322M), Gold ($237M), Passenger and Cargo Ships ($153M), Rubber ($108M), and Cocoa Beans ($32.8M). The most common destination for the exports of Liberia are France ($119M), Switzerland ($101M), Turkey ($98.4M), Cyprus ($91M), and Germany ($87.5M).
Market Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionLiberia Exports Services (2018): $10.4M
Liberia Imports Services (2018): $181M
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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionLiberia has a high level of specialization in Rubber (152), Scrap Vessels (97.3), Cocoa Beans (68.7), Passenger and Cargo Ships (42.2), and Iron Ore (40.8). Specialization is measured using RCA, an index that takes the ratio between Liberia observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Liberia according to the product complexity index (PCI) are Yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (-0.11), Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods (-0.29), Boats, floating structures, other (for e.g. rafts, tanks, coffer-dams, landing stages, buoys and beacons) (-0.43), Aluminium; waste and scrap (-0.85), and Copper; waste and scrap (-0.92). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Liberia according to the relatedness index, are Aluminium Ore (0.032), Manganese Ore (0.032), Crude Petroleum (0.032), Niobium, Tantalum, Vanadium and Zirconium Ore (0.031), and Crustaceans (0.028). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Liberia is not specialized in.
Product Space
#permalink to sectionThe 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 a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
