Overview In 2019 Liberia was the number 160 economy in the world in terms of GDP (current US$), the number 141 in total exports, the number 105 in total imports, the number 177 economy in terms of GDP per capita (current US$) and the number 134 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Liberia are Special Purpose Ships ($722M), Passenger and Cargo Ships ($381M), Iron Ore ($272M), Gold ($171M), and Rubber ($136M), exporting mostly to Guyana ($586M), Poland ($181M), Switzerland ($149M), Japan ($136M), and China ($93.6M).

Imports The top imports of Liberia are Passenger and Cargo Ships ($6.6B), Refined Petroleum ($1.3B), Iron Structures ($168M), Boat Propellers ($167M), and Centrifuges ($153M), importing mostly from China ($3.91B), Japan ($2.03B), South Korea ($1.71B), Brazil ($257M), and Germany ($242M).

Location Liberia borders Cote d'Ivoire, Guinea, and Sierra Leone by land.

Historical Data

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Yearly Exports

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Top Export (2019): Special Purpose Ships, $722M

Top Destination (2019): Guyana, $586M

In 2019, Liberia exported a total of $1.83B, making it the number 141 exporter in the world. During the last five reported years the exports of Liberia have changed by $473M from $1.35B in 2014 to $1.83B in 2019.

The most recent exports are led by Special Purpose Ships ($722M), Passenger and Cargo Ships ($381M), Iron Ore ($272M), Gold ($171M), and Rubber ($136M). The most common destination for the exports of Liberia are Guyana ($586M), Poland ($181M), Switzerland ($149M), Japan ($136M), and China ($93.6M).

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Yearly Imports

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Top Import (2019): Passenger and Cargo Ships, $6.6B

Top Origin (2019): China, $3.91B

In 2019 Liberia imported $9.6B, making it the number 105 trade destination in the world. During the last five reported years the imports of Liberia changed by $1.67B from $7.93B in 2014 to $9.6B in 2019.

The most recent imports of Liberia are led by Passenger and Cargo Ships ($6.6B), Refined Petroleum ($1.3B), Iron Structures ($168M), Boat Propellers ($167M), and Centrifuges ($153M). The most common import partners for Liberia are China ($3.91B), Japan ($2.03B), South Korea ($1.71B), Brazil ($257M), and Germany ($242M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Liberia 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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Liberia are Firearms: parts and accessories, of firearms other than the military weapons of heading 9301 (50%) and Firearms: parts and accessories, of shotguns or rifles of heading 9303 (50%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Liberia are:
136: Most Favoured Nation duty rate treatement
204: Preferential tariff for Economic Community of West African States (ECOWAS)

Economic Complexity

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Most Specialized Products by RCA Index

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Liberia has a high level of specialization in Special Purpose Ships (223), Rubber (99.1), Passenger and Cargo Ships (54), Iron Ore (21.7), and Scrap Vessels (18.4). 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

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The highest complexity exports of Liberia according to the product complexity index (PCI) are Passenger and goods transport ships, boats (-0.49), Floating structures nes (rafts, stages, buoys/beacons) (-0.49), Ferrous waste or scrap, ingots or iron or steel (-0.8), Aluminium waste or scrap (-0.95), and Copper, copper alloy, waste or scrap (-1.13). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Liberia according to the relatedness index, are Crude Petroleum (0.041), Coconuts, Brazil Nuts, and Cashews (0.035), Aluminium Ore (0.035), Tin Ores (0.034), and Manganese Ore (0.032). 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.

Relatedness Space

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This network shows the products most related to the production structure of Liberia. These are products that tend to be co-exported with the products that Liberia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.

Economic Complexity Ranking

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During the last 20 years Liberia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨100th to the 134th⁩ 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.

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