Here is your first Forum » Economy of Liberia

Liberia is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Liberia may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year, Liberia exports about US$0.93 billion and imports about US$2.46 billion. 2.4% of the country's population is unemployed. The total number of unemployed in Liberia is 116,484. In Liberia, 54.1% of the population live below the poverty line. The percentage of citizens living below the poverty line in Liberia is very high compared to other nations. This situation points to a number of alarming economic and political factors. It is not advisable to invest in countries with this level of poverty. Government spending on education is 2.8% of GDP. The country's Gini index is 38.2. Liberia experiences good equality. The majority of citizens in Liberia fall within a narrow income bracket, although some cases can show significant differences. Liberia has a Human Development Index (HDI) of 0.412. Liberia has a lower mean HDI value. This suggests that the majority of citizens will struggle to live a worthwhile life due to flawed economic and social systems. The Global Peace Index (GPI) for Liberia is 1.963. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Liberia is very safe in international comparison. The Strength Law Index for Liberia is 8. Overall it is rated as Fairly Fair - bankruptcy and collateral laws can at least adequately protect the rights of borrowers and lenders; Credit reports are usually sufficient and generally available.

Currency
The currency of Liberia is the Liberian Dollar. The plural form of the word Liberian dollar is dollars. The symbol used for this currency is $ and is abbreviated as LRD. The Liberian Dollar is divided into cents; there are 100 in a dollar.

Credit rating
Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. There is no information about the creditworthiness of Liberia.

Central bank
In Liberia, the institution that administers the state's currency, money supply and interest rates is called the Central Bank of Liberia. The average interest rate on deposits offered by local banks in Liberia is 4%.

national debt
Liberia has a public debt of 25.8% of the country's gross domestic product (GDP) as estimated in 2013.

tax information
Corporate tax in Liberia is 25%. Personal income tax ranges from 0% to 25% depending on your specific situation and income level. The VAT in Liberia is 7% and is known as Goods and Services Tax.

Finances
The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in Liberia is US$3711 billion. The gross domestic product (GDP) per capita calculated as purchasing power parity (PPP) in Liberia was last at 1 million US dollars. PPPs in Liberia are considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Liberia is 1,946 billion. Based on this statistic, Liberia is considered to be a small economy.