Liberia ranked 163/197 by economy size with a GDP of $4.78B and 184/197 by GDP per capita at $851. Liberia has $2.73B in government debt, with a debt-to-GDP ratio of 57.2%.
In 2024, Liberia made up 0.004% of the world's economy, compared to 0.01% in 1960.
Liberia GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $4,779,300,900 | 4.02% |
| 2023 | $4,390,000,000 | 4.68% |
| 2022 | $4,001,047,000 | 4.81% |
| 2021 | $3,513,049,500 | 4.99% |
| 2020 | $3,176,126,300 | -2.98% |
| 2019 | $3,319,596,500 | -2.47% |
| 2018 | $3,422,754,800 | 1.16% |
| 2017 | $3,390,703,400 | 2.46% |
| 2016 | $3,398,419,600 | -1.55% |
| 2015 | $3,227,075,700 | -0.02% |
| 2014 | $3,225,652,000 | 0.7% |
| 2013 | $3,177,198,100 | 8.69% |
| 2012 | $2,791,614,000 | 7.99% |
| 2011 | $2,398,000,000 | 8.2% |
| 2010 | $1,998,000,000 | 6.1% |
| 2009 | $1,768,000,000 | 5.3% |
| 2008 | $1,726,000,000 | 7.15% |
| 2007 | $1,373,000,000 | 9.54% |
| 2006 | $1,119,000,000 | 8.04% |
| 2005 | $949,000,000 | 5.28% |
| 2004 | $897,000,000 | 2.62% |
| 2003 | $748,000,000 | -30.1% |
| 2002 | $927,000,000 | 3.76% |
| 2001 | $906,000,000 | 2.92% |
| 2000 | $874,000,000 | 28.6% |
| 1999 | $441,800,000 | 21.7% |
| 1998 | $359,600,000 | 30.2% |
| 1997 | $295,900,000 | 106.3% |
| 1996 | $159,400,000 | 12.1% |
| 1995 | $134,800,000 | -4.27% |
| 1994 | $132,200,000 | -21.8% |
| 1993 | $160,400,000 | -33% |
| 1992 | $223,500,000 | -35.1% |
| 1991 | $348,000,000 | -14.2% |
| 1990 | $384,400,000 | -51% |
| 1989 | $786,300,000 | -26.7% |
| 1988 | $1,038,300,000 | -2.04% |
| 1987 | $972,800,000 | -1% |
| 1986 | $840,964,400 | -1.68% |
| 1985 | $851,296,100 | -0.84% |
| 1984 | $848,478,300 | -2.11% |
| 1983 | $823,374,900 | -1.9% |
| 1982 | $863,933,200 | -2.43% |
| 1981 | $846,514,500 | -2.14% |
| 1980 | $854,711,500 | -4.1% |
| 1979 | $814,067,900 | 3.26% |
| 1978 | $717,240,400 | 4.82% |
| 1977 | $673,010,600 | 1.59% |
| 1976 | $596,675,700 | 5.31% |
| 1975 | $577,549,300 | -3.47% |
| 1974 | $486,955,000 | 4.75% |
| 1973 | $386,968,300 | -2.26% |
| 1972 | $368,098,000 | 4.14% |
| 1971 | $341,543,100 | 4.9% |
| 1970 | $323,099,700 | 6.66% |
| 1969 | $306,961,800 | 7.29% |
| 1968 | $276,820,700 | 4.77% |
| 1967 | $261,024,300 | 6.75% |
| 1966 | $244,459,500 | 7.7% |
| 1965 | $229,260,800 | 4.79% |
| 1964 | $218,929,100 | 5.15% |
| 1963 | $200,229,600 | 2.27% |
| 1962 | $191,861,800 | 1.34% |
| 1961 | $183,920,900 | 2.44% |
| 1960 | $190,495,600 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/liberia | CC BY 
Liberia GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $851 | $1,871 |
| 2023 | $799 | $1,795 |
| 2022 | $745 | $1,692 |
| 2021 | $668 | $1,539 |
| 2020 | $617 | $1,660 |
| 2019 | $658 | $1,900 |
| 2018 | $692 | $1,800 |
| 2017 | $699 | $1,665 |
| 2016 | $715 | $1,490 |
| 2015 | $693 | $1,340 |
| 2014 | $707 | $1,419 |
| 2013 | $711 | $1,360 |
| 2012 | $638 | $1,157 |
| 2011 | $568 | $1,041 |
| 2010 | $492 | $980 |
| 2009 | $448 | $939 |
| 2008 | $452 | $915 |
| 2007 | $374 | $873 |
| 2006 | $321 | $815 |
| 2005 | $287.5 | $774 |
| 2004 | $284.1 | $745 |
| 2003 | $239.8 | $716 |
| 2002 | $299.5 | $1,013 |
| 2001 | $300 | $987 |
| 2000 | $298.5 | $965 |
| 1999 | $156.6 | $762 |
| 1998 | $134.7 | $652 |
| 1997 | $122.6 | $548 |
| 1996 | $71.4 | $282.2 |
| 1995 | $62.1 | $254.4 |
| 1994 | $61.5 | $262.6 |
| 1993 | $74.4 | $328 |
| 1992 | $107.8 | $497 |
| 1991 | $177.9 | $793 |
| 1990 | $172.9 | $787 |
| 1989 | $312 | - |
| 1988 | $424 | - |
| 1987 | $409 | - |
| 1986 | $364 | - |
| 1985 | $380 | - |
| 1984 | $390 | - |
| 1983 | $391 | - |
| 1982 | $422 | - |
| 1981 | $426 | - |
| 1980 | $443 | - |
| 1979 | $435 | - |
| 1978 | $394 | - |
| 1977 | $381 | - |
| 1976 | $347 | - |
| 1975 | $346 | - |
| 1974 | $299.4 | - |
| 1973 | $244.4 | - |
| 1972 | $238.6 | - |
| 1971 | $227.1 | - |
| 1970 | $220.3 | - |
| 1969 | $214.7 | - |
| 1968 | $198.6 | - |
| 1967 | $192.2 | - |
| 1966 | $184.6 | - |
| 1965 | $177.6 | - |
| 1964 | $173.9 | - |
| 1963 | $163.1 | - |
| 1962 | $160.3 | - |
| 1961 | $157.5 | - |
| 1960 | $167.2 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/liberia | CC BY
Liberia has a GDP per capita of $851, ranking 184/197, a GDP per capita based on purchasing power parity (PPP) of $1,871, ranking 188/197, and a median annual after tax income of $1,191, ranking 189/197.
Liberia GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 155 | 173 | 172 |
| 2023 | 160 | 181 | 182 |
| 2022 | 161 | 183 | 182 |
| 2021 | 161 | 182 | 182 |
| 2020 | 162 | 182 | 179 |
| 2019 | 162 | 184 | 179 |
| 2018 | 163 | 184 | 179 |
| 2017 | 163 | 183 | 180 |
| 2016 | 162 | 179 | 181 |
| 2015 | 164 | 182 | 185 |
| 2014 | 165 | 183 | 184 |
| 2013 | 165 | 182 | 185 |
| 2012 | 166 | 186 | 186 |
| 2011 | 168 | 189 | 189 |
| 2010 | 169 | 189 | 189 |
| 2009 | 171 | 191 | 189 |
| 2008 | 170 | 189 | 189 |
| 2007 | 170 | 191 | 187 |
| 2006 | 172 | 189 | 187 |
| 2005 | 173 | 188 | 186 |
| 2004 | 172 | 184 | 186 |
| 2003 | 172 | 187 | 186 |
| 2002 | 164 | 178 | 180 |
| 2001 | 163 | 177 | 181 |
| 2000 | 165 | 175 | 181 |
| 1999 | 176 | 187 | 183 |
| 1998 | 180 | 189 | 179 |
| 1997 | 182 | 190 | 179 |
| 1996 | 183 | 189 | 183 |
| 1995 | 183 | 189 | 183 |
| 1994 | 179 | 186 | 182 |
| 1993 | 176 | 184 | 180 |
| 1992 | 173 | 181 | 177 |
| 1991 | 164 | 179 | 165 |
| 1990 | 162 | 177 | 164 |
| 1989 | 135 | 142 | - |
| 1988 | 135 | 136 | - |
| 1987 | 133 | 134 | - |
| 1986 | 127 | 134 | - |
| 1985 | 128 | 127 | - |
| 1984 | 125 | 126 | - |
| 1983 | 124 | 125 | - |
| 1982 | 123 | 126 | - |
| 1981 | 123 | 126 | - |
| 1980 | 122 | 126 | - |
| 1979 | 114 | 115 | - |
| 1978 | 115 | 115 | - |
| 1977 | 113 | 114 | - |
| 1976 | 112 | 110 | - |
| 1975 | 112 | 110 | - |
| 1974 | 111 | 110 | - |
| 1973 | 111 | 111 | - |
| 1972 | 107 | 104 | - |
| 1971 | 103 | 101 | - |
| 1970 | 103 | 101 | - |
| 1969 | 98 | 84 | - |
| 1968 | 100 | 83 | - |
| 1967 | 99 | 79 | - |
| 1966 | 97 | 81 | - |
| 1965 | 97 | 81 | - |
| 1964 | 95 | 75 | - |
| 1963 | 95 | 75 | - |
| 1962 | 95 | 76 | - |
| 1961 | 94 | 76 | - |
| 1960 | 89 | 69 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/liberia | CC BY
Compared with 2000, in 2024 Liberia is ranked 155th out of 182 by GDP (up from 165th), 173rd by GDP per capita (up from 175th), and 172nd by GDP per capita PPP (up from 181st).
Economic indicators
Liberia
|
Rank | |
|---|---|---|
| Gross domestic product |
$4.78B
2024 |
163/197 |
| GDP growth |
4.02%
2023-2024 |
66/194 |
| GDP per capita |
$851
2024 |
184/197 |
| GDP per capita, PPP |
$1,871
2024 |
188/197 |
| Government debt |
$2.73B
2024 |
155/185 |
| Debt-to-GDP ratio |
57.2%
2024 |
91/185 |
| Government debt per person |
$487
2024 |
167/185 |
| Average annual personal income after taxes |
$1,191
2026 |
189/197 |
| Income share by richest 10% |
27.1%
2016 |
90/169 |
| Income share by poorest 10% |
2.9%
2016 |
72/169 |
| Government expenditure, % of GDP |
24.3%
2024 |
127/195 |
| Consumer prices inflation |
8.2%
2023-2024 |
36/195 |
| Unemployment rate |
5.93%
2017 |
81/196 |
| Population |
5887000
|
117/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 24.3% | 57.2% | -1.98% |
| 2023 | 27.1% | 57.8% | -7.03% |
| 2022 | 26.9% | 54.3% | -5.33% |
| 2021 | 29.8% | 53.3% | -2.5% |
| 2020 | 35.3% | 58.7% | -4.02% |
| 2019 | 32.3% | 48.6% | -4.92% |
| 2018 | 32.7% | 37.1% | -4.7% |
| 2017 | 35.1% | 31.8% | -7.14% |
| 2016 | 35.8% | 28.6% | -3.83% |
| 2015 | 37.1% | 24.8% | -3.74% |
| 2014 | 33.4% | 24.3% | -4.92% |
| 2013 | 27.4% | 20.6% | 1.29% |
| 2012 | 30.8% | 20.5% | -2.86% |
| 2011 | 30.1% | 22.7% | -4.43% |
| 2010 | 25.2% | 25.6% | 1.17% |
| 2009 | 23.7% | 130.9% | -1.39% |
| 2008 | 21.6% | 233.1% | -2.68% |
| 2007 | 17.2% | 394% | 2.44% |
| 2006 | 11.1% | 472% | 4.42% |
| 2005 | 12.8% | 535% | -0.55% |
| 2004 | 12.1% | 543% | -0.56% |
| 2003 | 9.85% | 658% | 0.39% |
| 2002 | 13.2% | 481% | -1.63% |
| 2001 | 12.6% | 484% | -0.98% |
| 2000 | 15.2% | 489% | -0.08% |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20).
GeoRank.org/economy/liberia | CC BY
This chart shows Liberia's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 25 years, Liberia recorded a fiscal deficit in 20 of them, with an average annual deficit equal to 2.22% of GDP. In 2024, government spending reached $1.16B (24.3% of GDP), with a deficit of 1.98%.
The national debt reached $2.73B, ranking 155th out of 185 countries by total size, with a debt-to-GDP ratio of 57.2%, ranking 91st.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 8.2% |
| 2023 | 10.1% |
| 2022 | 7.6% |
| 2021 | 7.8% |
| 2020 | 17% |
| 2019 | 27% |
| 2018 | 23.5% |
| 2017 | 12.4% |
| 2016 | 8.8% |
| 2015 | 7.7% |
| 2014 | 9.9% |
| 2013 | 7.6% |
| 2012 | 6.8% |
| 2011 | 8.5% |
| 2010 | 7.3% |
| 2009 | 7.4% |
| 2008 | 17.5% |
| 2007 | 11.4% |
| 2006 | 9.5% |
| 2005 | 6.9% |
| 2004 | 3.6% |
| 2003 | 10.3% |
| 2002 | 14.2% |
| 2001 | 12.1% |
| 2000 | 5.3% |
| 1999 | 2% |
Data sources: International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).
GeoRank.org/economy/liberia | CC BY
Over the past 20 years, Liberia has had an average annual inflation rate of 11.1%. In 2024, inflation was 8.2%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Liberia
|
Rank | |
|---|---|---|
|
Current account balance
|
$64.8M
2022 |
73/190 |
| Current account balance, % of GDP |
+1.62%
2022 |
61/190 |
| Goods imports |
$1.53B
2022 |
159/189 |
| Goods exports |
$1.03B
2022 |
147/189 |
| Service imports |
$434M
2022 |
161/189 |
| Service exports |
$192M
2022 |
165/189 |
| Exports of goods and services, % of GDP |
28.5%
2025 |
120/193 |
Liberia top 10 trading partners
Liberia's biggest trading partner accounting for 28% of all exports and imports is Ivory Coast, with a trade balance between the two of -$654M: Liberia exports $2.56M worth of goods and services to Ivory Coast and imports $656M.
Below is the list of the top 10 trade partners of Liberia.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Ivory Coast
|
$659M | 28% | $2.56M | $656M | Processed food, beverages & tobacco | Raw materials & minerals |
| 2 |
China
|
$362M | 15.4% | $218K | $362M | Raw materials & minerals | Machinery & equipment |
| 3 |
India
|
$343M | 14.6% | $1.69M | $341M | Processed food, beverages & tobacco | Raw agricultural goods |
| 4 |
United States
|
$138M | 5.87% | $57.6M | $80.6M | Raw materials & minerals | Machinery & equipment |
| 5 |
Japan
|
$59.4M | 2.53% | $743K | $58.7M | Raw materials & minerals | Machinery & equipment |
| 6 |
Belgium
|
$56.2M | 2.39% | $32.9M | $23.3M | Raw materials & minerals | Machinery & equipment |
| 7 |
Poland
|
$54.7M | 2.33% | $26.6M | $28.1M | Raw materials & minerals | Raw agricultural goods |
| 8 |
UAE
|
$45.2M | 1.92% | $3.76M | $41.5M | Precious metals & jewellery | Machinery & equipment |
| 9 |
Brazil
|
$43M | 1.83% | $354K | $42.7M | Processed food, beverages & tobacco | Animal & marine products |
| 10 |
United Kingdom
|
$38.7M | 1.64% | $4.53M | $34.1M | Raw materials & minerals | Metals |
Top 10 exports
|
Liberia
|
Rank | |
|---|---|---|
| Raw materials & minerals | $100M | 150/193 |
| Processed food, beverages & tobacco | $37.3M | 146/192 |
| Business & finance services | $14M | 165/188 |
| Machinery & equipment | $7.11M | 170/193 |
| Transport & tourism services | $5.61M | 183/188 |
| Chemicals & pharma | $2.61M | 163/193 |
| Textiles & consumer goods | $2.34M | 164/193 |
| Metals | $2.11M | 171/192 |
| Wood & paper products | $1.55M | 166/192 |
| Government & miscellaneous services | $447K | 176/180 |
Top 10 imports
|
Liberia
|
Rank | |
|---|---|---|
| Raw materials & minerals | $772M | 144/193 |
| Machinery & equipment | $524M | 154/193 |
| Raw agricultural goods | $284M | 132/193 |
| Transport & tourism services | $176M | 166/188 |
| Processed food, beverages & tobacco | $148M | 164/193 |
| Chemicals & pharma | $118M | 165/193 |
| Metals | $104M | 157/193 |
| Textiles & consumer goods | $97.3M | 163/193 |
| Government & miscellaneous services | $95.4M | 70/180 |
| Animal & marine products | $77.5M | 145/193 |
Economic freedom indices
|
Liberia
|
Rank | |
|---|---|---|
| Economic freedom | 49.8 | 163/197 |
| Property rights | 40.4 | 122/182 |
| Government integrity | 25.8 | 142/182 |
| Judicial effectiveness | 23.4 | 144/182 |
| Tax burden | 86.1 | 51/182 |
| Government spending | 79.5 | 69/180 |
| Fiscal health | 56.9 | 124/181 |
| Business freedom | 38 | 157/182 |
| Labor freedom | 43.4 | 163/182 |
| Monetary freedom | 71.4 | 124/180 |
| Trade freedom | 57.4 | 161/181 |
| Investment freedom | 55 | 95/181 |
| Financial freedom | 20 | 166/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 49.8 | 23.4 | 86.1 | 79.5 | 56.9 |
| 2025 | 48.5 | 22.7 | 86 | 76.6 | 53.6 |
| 2024 | 49.9 | 23.4 | 86.1 | 71.8 | 69.2 |
| 2023 | 49.6 | 26.1 | 86.1 | 68.6 | 72.6 |
| 2022 | 47.9 | 23.4 | 86.1 | 68 | 64.6 |
| 2021 | 49.2 | 40.4 | 85.8 | 68.3 | 54.3 |
| 2020 | 49 | 37.9 | 86.1 | 65.5 | 59.7 |
| 2019 | 49.7 | 39 | 82.7 | 62.1 | 69.1 |
| 2018 | 50.9 | 42.4 | 77.5 | 59.4 | 39.1 |
| 2017 | 49.1 | 41 | 83.6 | 60.1 | 36.2 |
| 2016 | 52.2 | - | 83.8 | 67.7 | - |
| 2015 | 52.7 | - | 83 | 69.9 | - |
| 2014 | 52.4 | - | 83.6 | 70.5 | - |
| 2013 | 49.3 | - | 76.6 | 77.8 | - |
| 2012 | 48.6 | - | 76.6 | 74.8 | - |
| 2011 | 46.5 | - | 73.3 | 66.5 | - |
| 2010 | 46.2 | - | 67.8 | 82.3 | - |
| 2009 | 48.1 | - | 73.8 | 97.2 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (2009–2026, retrieved 2026-03-09).
GeoRank.org/economy/liberia | CC BY
Liberia is ranked 145/174 for economic freedom with a score of 49.8, compared to 154/177 and a score of 48.1 in 2009.
Other economic metrics
|
Liberia
|
Rank | |
|---|---|---|
| Services, % of GDP |
41.9%
2024 |
173/191 |
| Industry, % of GDP |
22.7%
2024 |
111/194 |
| Agriculture, forestry, and fishing, % of GDP |
33.8%
2024 |
10/193 |
|
GNI, Atlas method
|
$4.28B
2024 |
160/194 |
| GNI per capita, PPP |
$1,750
2024 |
185/191 |
| Total reserves including gold |
$600M
2022 |
153/177 |
|
Net foreign direct investment
|
-$960M
2022 |
118/189 |
|
Net inflows of foreign direct investment
|
$472M
2024 |
116/193 |
|
Net outflows of foreign direct investment
|
$74.9M
2024 |
92/193 |
|
Servicing debt to the IMF, % of GNI
|
3.09%
2024 |
81/121 |
| Poverty at national poverty lines |
50.9%
2016 |
20/176 |
Compare Liberia vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/liberia | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (2009–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2020–2023, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.