Liberia
2021 Product Exports | Imports: $1.58B | $13.2B, 152 of 226 | 99 of 226
2021 Per Capita Product Exports | Imports: $306 | $2.56k, 175 of 219 | 112 of 219
2018 Service Exports | Imports : $10.4M | $181M, 138 of 138 | 135 of 138
Overview In 2021 Liberia was the number 152 economy in the world in terms of total exports and the number 99 in total imports.
Exports The top exports of Liberia are Gold ($429M), Passenger and Cargo Ships ($368M), Iron Ore ($365M), Rubber ($180M), and Special Purpose Ships ($96.9M), exporting mostly to Switzerland ($343M), Poland ($203M), France ($158M), Germany ($146M), and Thailand ($120M).
Imports The top imports of Liberia are Passenger and Cargo Ships ($8.13B), Refined Petroleum ($2.63B), Boat Propellers ($247M), Special Purpose Ships ($198M), and Centrifuges ($146M), importing mostly from China ($5.69B), Japan ($2.4B), South Korea ($1.99B), Germany ($786M), and Greece ($357M).
In 2021, Liberia was the world's biggest importer of Passenger and Cargo Ships ($8.13B)
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 sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*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 sectionTop Export (2021): Gold, $429M
Top Destination (2021): Switzerland, $343M
In 2021, Liberia exported a total of $1.58B, making it the number 152 exporter in the world. During the last five reported years the exports of Liberia have changed by $558M from $1.03B in 2016 to $1.58B in 2021.
The most recent exports are led by Gold ($429M), Passenger and Cargo Ships ($368M), Iron Ore ($365M), Rubber ($180M), and Special Purpose Ships ($96.9M). The most common destination for the exports of Liberia are Switzerland ($343M), Poland ($203M), France ($158M), Germany ($146M), and Thailand ($120M).
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 (133), Passenger and Cargo Ships (66.2), Special Purpose Ships (54.5), Cocoa Beans (52.6), and Iron Ore (22). 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 Gaskets (1.41), Cranes (0.56), Other Floating Structures (-0.37), Passenger and Cargo Ships (-0.39), and Scrap Aluminium (-0.72). 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, were Manganese Ore (0.039), Tin Ores (0.037), Crude Petroleum (0.035), Niobium, Tantalum, Vanadium and Zirconium Ore (0.034), and Coconuts, Brazil Nuts, and Cashews (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.
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.
