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Economy of Liberia vs Mexico compared: GDP & Debt

Updated on by Georank team

Liberia has a GDP of $4.78B compared to $1.86T for Mexico, ranking 163/197 and 13/197 by economy size, respectively.

Liberia has $2.73B in government debt (57.2% of GDP), compared to $1.08T (58.3% of GDP) in Mexico.

Liberia vs Mexico GDP by year

Liberia
Mexico
1x
Year GDP, current $
Liberia Mexico
2024 $4,779,300,900 $1,856,365,616,166
2023 $4,390,000,000 $1,798,317,581,487
2022 $4,001,047,000 $1,466,934,724,293
2021 $3,513,049,500 $1,316,569,466,686
2020 $3,176,126,300 $1,121,064,767,308
2019 $3,319,596,500 $1,304,106,203,902
2018 $3,422,754,800 $1,256,300,182,880
2017 $3,390,703,400 $1,190,721,475,906
2016 $3,398,419,600 $1,112,233,497,453
2015 $3,227,075,700 $1,213,294,467,717
2014 $3,225,652,000 $1,364,507,717,614
2013 $3,177,198,100 $1,327,436,290,283
2012 $2,791,614,000 $1,255,110,424,818
2011 $2,398,000,000 $1,229,013,703,417
2010 $1,998,000,000 $1,105,424,238,731
2009 $1,768,000,000 $943,437,415,025
2008 $1,726,000,000 $1,161,553,459,715
2007 $1,373,000,000 $1,102,355,554,972
2006 $1,119,000,000 $1,020,265,057,882
2005 $949,000,000 $917,571,853,529
2004 $897,000,000 $819,459,227,375
2003 $748,000,000 $765,549,967,703
2002 $927,000,000 $810,666,116,402
2001 $906,000,000 $796,064,590,549
2000 $874,000,000 $742,061,329,749
1999 $441,800,000 $631,249,359,702
1998 $359,600,000 $557,461,102,631
1997 $295,900,000 $523,449,530,464
1996 $159,400,000 $432,157,945,024
1995 $134,800,000 $380,157,469,867
1994 $132,200,000 $553,618,247,901
1993 $160,400,000 $530,160,763,663
1992 $223,500,000 $363,157,832,924
1991 $348,000,000 $313,139,656,146
1990 $384,400,000 $261,253,675,693
1989 $786,300,000 $221,403,098,267
1988 $1,038,300,000 $181,611,150,497
1987 $972,800,000 $147,542,558,209
1986 $840,964,400 $134,556,034,673
1985 $851,296,100 $195,241,069,482
1984 $848,478,300 $184,230,754,105
1983 $823,374,900 $156,167,000,433
1982 $863,933,200 $184,602,611,610
1981 $846,514,500 $263,797,827,860
1980 $854,711,500 $205,577,055,466
1979 $814,067,900 $134,531,900,899
1978 $717,240,400 $102,648,570,299
1977 $673,010,600 $81,912,018,784
1976 $596,675,700 $88,875,923,765
1975 $577,549,300 $88,000,000,000
1974 $486,955,000 $72,000,000,000
1973 $386,968,300 $55,280,000,000
1972 $368,098,000 $45,200,000,000
1971 $341,543,100 $39,200,000,000
1970 $323,099,700 $35,520,000,000
1969 $306,961,800 $32,480,000,000
1968 $276,820,700 $29,360,000,000
1967 $261,024,300 $26,560,000,000
1966 $244,459,500 $24,320,000,000
1965 $229,260,800 $21,840,000,000
1964 $218,929,100 $20,080,000,000
1963 $200,229,600 $16,960,000,000
1962 $191,861,800 $15,200,000,000
1961 $183,920,900 $14,160,000,000
1960 $190,495,600 $13,040,000,000

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/liberia/mexico | CC BY

GDP per capita in Liberia vs Mexico by year

Liberia
GDP per capita

GDP per capita, PPP
Mexico
GDP per capita

GDP per capita, PPP
1x
Year Current $
Liberia Mexico
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $851 $1,871 $14,186 $26,185
2023 $799 $1,795 $13,861 $25,243
2022 $745 $1,692 $11,406 $23,135
2021 $668 $1,539 $10,314 $20,783
2020 $617 $1,660 $8,841 $19,354
2019 $658 $1,900 $10,370 $20,964
2018 $692 $1,800 $10,085 $20,921
2017 $699 $1,665 $9,649 $20,489
2016 $715 $1,490 $9,098 $20,105
2015 $693 $1,340 $10,021 $19,071
2014 $707 $1,419 $11,391 $18,821
2013 $711 $1,360 $11,217 $18,170
2012 $638 $1,157 $10,744 $18,005
2011 $568 $1,041 $10,664 $17,267
2010 $492 $980 $9,729 $15,909
2009 $448 $939 $8,424 $15,191
2008 $452 $915 $10,524 $15,681
2007 $374 $873 $10,134 $15,032
2006 $321 $815 $9,513 $14,540
2005 $287.5 $774 $8,672 $13,260
2004 $284.1 $745 $7,850 $12,658
2003 $239.8 $716 $7,434 $12,066
2002 $299.5 $1,013 $7,983 $11,762
2001 $300 $987 $7,953 $11,739
2000 $298.5 $965 $7,524 $11,705
1999 $156.6 $762 $6,500 $11,031
1998 $134.7 $652 $5,833 $10,756
1997 $122.6 $548 $5,567 $10,182
1996 $71.4 $282.2 $4,674 $9,496
1995 $62.1 $254.4 $4,184 $8,933
1994 $61.5 $262.6 $6,202 $9,466
1993 $74.4 $328 $6,048 $9,041
1992 $107.8 $497 $4,221 $9,470
1991 $177.9 $793 $3,709 $9,079
1990 $172.9 $787 $3,154 $8,578
1989 $312 - $2,725 -
1988 $424 - $2,279 -
1987 $409 - $1,888 -
1986 $364 - $1,757 -
1985 $380 - $2,602 -
1984 $390 - $2,506 -
1983 $391 - $2,170 -
1982 $422 - $2,621 -
1981 $426 - $3,829 -
1980 $443 - $3,055 -
1979 $435 - $2,049 -
1978 $394 - $1,604 -
1977 $381 - $1,315 -
1976 $347 - $1,465 -
1975 $346 - $1,492 -
1974 $299.4 - $1,256 -
1973 $244.4 - $993 -
1972 $238.6 - $837 -
1971 $227.1 - $748 -
1970 $220.3 - $699 -
1969 $214.7 - $660 -
1968 $198.6 - $616 -
1967 $192.2 - $576 -
1966 $184.6 - $545 -
1965 $177.6 - $506 -
1964 $173.9 - $481 -
1963 $163.1 - $420 -
1962 $160.3 - $388 -
1961 $157.5 - $374 -
1960 $167.2 - $355 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/liberia/mexico | CC BY

Liberia's GDP per capita is $851, ranking 184/197, compared to $14,186 in Mexico, ranking 69/197. Adjusted for purchasing power (GDP per capita PPP), Liberia ranks 188th at $1,871, while Mexico ranks 80th at $26,185.

Economic indicators

Liberia Mexico
Gross domestic product
$4.78B
2024
$1.86T
2024
GDP rank
163/197
2024
13/197
2024
GDP growth
4.02%
2023-2024
1.43%
2023-2024
GDP per capita
$851
2024
$14,186
2024
GDP per capita rank
184/197
2024
69/197
2024
GDP per capita, PPP
$1,871
2024
$26,185
2024
GDP per capita PPP rank
188/197
2024
80/197
2024
Government debt
$2.73B
2024
$1.08T
2024
Debt-to-GDP ratio
57.2%
2024
58.3%
2024
Government debt per person
$487
2024
$8,272
2024
Government debt per person rank
167/185
2024
63/185
2024
Average annual personal income after taxes
$1,191
2026
$10,231
2026
Market capitalization of domestic companies n/a
$418B
2024
Number of millionaires n/a
399,000
2025
Number of billionaires n/a
22
2025
Income share by richest 10%
27.1%
2016
34.4%
2022
Income share by poorest 10%
2.9%
2016
2.1%
2022
Government expenditure, % of GDP
24.3%
2024
30.3%
2024
Consumer prices inflation
8.2%
2023-2024
4.72%
2023-2024
Central bank interest rate n/a
7%
2025
Unemployment rate
5.93%
2017
2.62%
2024
Population
5887000
133323134

Spending and national debt comparison by year

Liberia
Spending

Debt
Mexico
Spending

Debt
1x
Year % of GDP
Liberia Mexico
Government spending Government debt Government spending Government debt
2024 24.3% 57.2% 30.3% 58.3%
2023 27.1% 57.8% 28.5% 52.6%
2022 26.9% 54.3% 28.5% 53.8%
2021 29.8% 53.3% 26.7% 56.7%
2020 35.3% 58.7% 27.8% 58.5%
2019 32.3% 48.6% 25.3% 51.9%
2018 32.7% 37.1% 25% 52.2%
2017 35.1% 31.8% 25% 52.5%
2016 35.8% 28.6% 26.5% 55%
2015 37.1% 24.8% 26.6% 51%
2014 33.4% 24.3% 26.9% 47.1%
2013 27.4% 20.6% 26.7% 44.1%
2012 30.8% 20.5% 27% 40.8%
2011 30.1% 22.7% 26.6% 41.2%
2010 25.2% 25.6% 26.5% 40.2%
2009 23.7% 130.9% 26.5% 41.7%
2008 21.6% 233.1% 26.5% 40.6%
2007 17.2% 394% 22.5% 35.5%
2006 11.1% 472% 21.6% 35.8%
2005 12.8% 535% 21.2% 36.8%
2004 12.1% 543% 20.5% 38.9%
2003 9.85% 658% 21.5% 42.1%
2002 13.2% 481% 19.8% 39.9%
2001 12.6% 484% 19.5% 37.3%
2000 15.2% 489% 19.4% 38.5%
1999 - - 20.1% 41.7%
1998 - - 19.5% 39.7%
1997 - - 20.7% 39.1%
1996 - - 20.8% 42.5%
1995 - - 18.9% 30.7%
1994 - - 18.9% 26.8%
1993 - - 18.2% 19.2%
1992 - - 19% 21.5%
1991 - - 20.1% 29.2%
1990 - - 22.9% 35.7%
1989 - - 19.2% 36%
1988 - - 23.6% 36.5%
1987 - - 26.7% 52.7%
1986 - - 25.1% 47.8%
1985 - - 21.4% 30.4%
1984 - - 19.8% 25.2%
1983 - - 21.6% 25.3%
1982 - - 24.7% 29.8%
1981 - - 20.1% 41.7%
1980 - - 17.5% 31.4%
1979 - - 16.5% 35.8%
1978 - - 15.7% 39%
1977 - - 15.5% 41.5%
1976 - - 15.5% 31.3%
1975 - - 14.7% 24.4%
1974 - - 13.8% 21.7%
1973 - - 12.7% 20%
1972 - - 11.9% 17.9%
1971 - - 10.6% 17%
1970 - - 10.9% 17.1%
1969 - - 11.8% 10.7%
1968 - - 10.9% 7.85%
1967 - - 10.4% 8.22%
1966 - - 11.6% 5.14%
1965 - - 10.7% 9.99%
1964 - - 9.21% 6.22%
1963 - - 8.51% 4.13%
1962 - - 8.26% 4.2%
1961 - - 8.01% 4.38%
1960 - - 9.5% 4.58%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

GeoRank.org/economy/liberia/mexico | CC BY

In 2024, Liberia's government spending was $1.16B, accounting for 24.3% of its GDP, while Mexico spent $563B, or 30.3% of GDP.

Debt-to-GDP ratio is 57.2% in Liberia and 58.3% in Mexico, ranking 91/185 and 84/185, respectively.

Government deficit by year

Deficit/surplus
Liberia

Mexico
1x
Year Deficit/surplus, % of GDP
Liberia Mexico
2024 -1.98% -5.73%
2023 -7.03% -4.29%
2022 -5.33% -4.32%
2021 -2.5% -3.75%
2020 -4.02% -4.29%
2019 -4.92% -2.27%
2018 -4.7% -2.14%
2017 -7.14% -1.03%
2016 -3.83% -2.68%
2015 -3.74% -3.86%
2014 -4.92% -4.37%
2013 1.29% -3.56%
2012 -2.86% -3.57%
2011 -4.43% -3.2%
2010 1.17% -3.8%
2009 -1.39% -3.94%
2008 -2.68% -0.68%
2007 2.44% -1.46%
2006 4.42% -1.23%
2005 -0.55% -1.43%
2004 -0.56% -1.35%
2003 0.39% -2.24%
2002 -1.63% -2.18%
2001 -0.98% -2.57%
2000 -0.08% -2.69%
1999 - -4.49%
1998 - -4.49%
1997 - -3.48%
1996 - -3.66%
1995 - -2.28%
1994 - -2.25%
1993 - -1.51%
1992 - 2.26%
1991 - 1.49%
1990 - -3.11%
1989 - -4.75%
1988 - -8.76%
1987 - -11.6%
1986 - -11.2%
1985 - -7.2%
1984 - -5.79%
1983 - -6.03%
1982 - -11.4%
1981 - -4.9%
1980 - -1.75%
1979 - -2.15%
1978 - -1.88%
1977 - -2.43%
1976 - -3.14%
1975 - -2.64%
1974 - -3.33%
1973 - -2.75%
1972 - -2.3%
1971 - -1.43%
1970 - -1.71%
1969 - -2.74%
1968 - -2.06%
1967 - -2.12%
1966 - -3.2%
1965 - -2.51%
1964 - -1.44%
1963 - -0.92%
1962 - -0.79%
1961 - -0.88%
1960 - -1.36%
1959 - -0.73%
1958 - 0.24%
1957 - -0.03%
1956 - 0.52%
1955 - 0.6%
1954 - -0.94%
1953 - -0.58%
1952 - 0.42%
1951 - -0.26%
1950 - -0.2%
1949 - 0.44%
1948 - -1.55%
1947 - -0.93%
1946 - 0.66%
1945 - -1.11%
1944 - -1.12%
1943 - 0.05%
1942 - -0.93%
1941 - -0.26%
1940 - -0.4%
1939 - -0.06%
1938 - -0.91%
1937 - -0.41%
1936 - -0.39%
1935 - 0.26%
1934 - 0.72%
1933 - -0.58%
1932 - 0%
1931 - 0.71%
1930 - 0.21%
1929 - 0.95%
1928 - 0.24%
1927 - -0.3%
1926 - -0.29%
1925 - 0.46%
1924 - 1.34%
1923 - 1.02%
1922 - 1.13%
1921 - 0.64%
1920 - 0.91%
1919 - 0.41%
1918 - -0.19%
1917 - 0.63%
1916 - -
1915 - -
1914 - -
1913 - 0.28%
1912 - -0.79%
1911 - -0.31%
1910 - 0.1%
1909 - 0.15%
1908 - -0.08%
1907 - 0.43%
1906 - 0.72%
1905 - 0.35%
1904 - 1.09%
1903 - 3.82%
1902 - 0.42%
1901 - 0.62%
1900 - 0.76%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1900–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/liberia/mexico | CC BY

In 2024, Liberia's government deficit, the difference between spending and revenue, was $94.6M, equivalent to 1.98% of GDP. This compares to Mexico's deficit of $106B, or 5.73% of GDP.

Over the past 25 years, Liberia recorded a fiscal deficit in 20 of those years, while Mexico ran a deficit in 25 years. On average, Liberia posted an annual deficit equal to 2.22% of GDP, compared to deficit of 2.9% of GDP for Mexico.

Inflation comparison by year

Inflation
Liberia

Mexico
1x
Year Consumer prices inflation
Liberia Mexico
2024 8.2% 4.72%
2023 10.1% 5.53%
2022 7.6% 7.9%
2021 7.8% 5.69%
2020 17% 3.4%
2019 27% 3.64%
2018 23.5% 4.9%
2017 12.4% 6.04%
2016 8.8% 2.82%
2015 7.7% 2.72%
2014 9.9% 4.02%
2013 7.6% 3.81%
2012 6.8% 4.11%
2011 8.5% 3.41%
2010 7.3% 4.16%
2009 7.4% 5.3%
2008 17.5% 5.12%
2007 11.4% 3.97%
2006 9.5% 3.63%
2005 6.9% 3.99%
2004 3.6% 4.69%
2003 10.3% 4.55%
2002 14.2% 5.03%
2001 12.1% 6.37%
2000 5.3% 9.49%
1999 2% 16.6%
1998 - 15.9%
1997 - 20.6%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

GeoRank.org/economy/liberia/mexico | CC BY

Over the past 26 years, Liberia has recorded an average annual inflation rate of 10.4%, compared with 5.21% in Mexico. In 2024, inflation was 8.2% in Liberia and 4.72% in Mexico.

Top exports between countries

Liberia
Export category Export value
Raw materials & minerals $1.13M
Mexico
Export category Export value

Balance of trade

Liberia Mexico
Current account balance
$64.8M
2022
-$16.7B
2024
Current account balance ranking
73/190
2022
181/190
2024
Current account balance, % of GDP
+1.62%
2022
-0.9%
2024
Goods imports
$1.53B
2022
$637B
2024
Goods exports
$1.03B
2022
$618B
2024
Service imports
$434M
2022
$72B
2024
Service exports
$192M
2022
$63B
2024
Imports of goods and services, % of GDP n/a
37.9%
2024
Exports of goods and services, % of GDP
28.5%
2025
36.7%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Liberia Mexico
Economic freedom 49.8 59.8
Economic freedom ranking 163/197 102/197
Property rights 40.4 37.6
Government integrity 25.8 28.8
Judicial effectiveness 23.4 40.4
Tax burden 86.1 75.4
Government spending 79.5 74.6
Fiscal health 56.9 56.7
Business freedom 38 67
Labor freedom 43.4 57.3
Monetary freedom 71.4 70.6
Trade freedom 57.4 74.2
Investment freedom 55 75
Financial freedom 20 60

Economic freedom comparison by year

Liberia
Mexico
1x
Year Economic freedom index
Liberia Mexico
2026 49.8 59.8
2025 48.5 61.3
2024 49.9 62
2023 49.6 63.2
2022 47.9 63.7
2021 49.2 65.5
2020 49 66
2019 49.7 64.7
2018 50.9 64.8
2017 49.1 63.6
2016 52.2 65.2
2015 52.7 66.4
2014 52.4 66.8
2013 49.3 67
2012 48.6 65.3
2011 46.5 67.8
2010 46.2 68.3
2009 48.1 65.8
2008 - 66.2
2007 - 66
2006 - 64.7
2005 - 65.2
2004 - 66
2003 - 65.3
2002 - 63
2001 - 60.6
2000 - 59.3
1999 - 58.5
1998 - 57.9
1997 - 57.1
1996 - 61.2
1995 - 63.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/liberia/mexico | CC BY

The Economic Freedom Index for Liberia is 49.8, ranking 163/197, compared to 59.8 for Mexico, ranking 102/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Liberia Mexico
Services, % of GDP
41.9%
2024
58.1%
2024
Industry, % of GDP
22.7%
2024
31.8%
2024
Agriculture, forestry, and fishing, % of GDP
33.8%
2024
3.72%
2024
GNI, Atlas method
$4.28B
2024
$1.68T
2024
GNI per capita, PPP
$1,750
2024
$25,460
2024
Total reserves including gold
$600M
2022
$232B
2024
Total reserves ranking
153/177
2022
16/177
2024
Net foreign direct investment
-$960M
2022
-$32.3B
2024
Net inflows of foreign direct investment
$472M
2024
$45.5B
2024
Net outflows of foreign direct investment
$74.9M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
3.09%
2024
3.71%
2024
Poverty at national poverty lines
50.9%
2016
29.6%
2024
Gross capital formation, % of GDP n/a
24.1%
2024

GDP per capita map

1x

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/mexico | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1900–1995, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2023, retrieved 2026-02-08)

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.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.