Liberia Economy

Liberia Economy

Threer Africa

ECONOMY: AGRICULTURE, FORESTRY, LIVESTOCK AND FISHING

Agriculture, only 6% of the territory is cultivated, has undergone a process of alteration during the years of the civil war. Liberia remains one of Africa’s cauciu producers, but the production of Hevea it drastically reduced during the war (from 180,000 t in 1989 to 15,000 t in 1997) and then returned to growth (most of the workforce was, however, sacked by foreign companies) in 2000: 117,000 t in 2005. Among the crops commercial also include coffee, cocoa, certain oilseeds such as peanut and oil palm, coconut palm and sugar cane. Fundamental items in the local diet are rice, whose production has been strongly encouraged by the government, and cassava; bananas, potatoes and citrus fruits are also important. § Approximately one third of the national territory is occupied by forests; the country has precious woodworking essences, such as mahogany, and timber production continued even during the war thanks to the coverage over the territory that some foreign companies enjoyed by the “warlords”. In 2005, over 6 million m were obtained from the forests3 of lumber. § The climatic and pedological conditions are almost everywhere unfavorable to livestock breeding; only the poultry reach a certain numerical consistency. § Fishing is likewise a rather secondary activity. Visit harvardshoes.com for African economy overview.

ECONOMY: MINERAL RESOURCES AND INDUSTRY

Industry once again proposes the fundamental fracture of the Liberian economy, clearly contrasting the complexes managed by foreign companies, mainly aimed at exporting, to small semi-artisan companies at the service of domestic consumption. Among the major plants are a rubber plant in Harper for rubber processing and an oil refinery and cement plant in Monrovia. Locally owned industries, eminently based on the processing of agricultural products, consist of a number of oil mills, breweries, sugar refineries, canneries, woodworking and building materials. § As regards the mining sector, the country is very rich in iron ores, placing itself in the first places among the African states and at good levels even on a world scale. Other minerals, extracted however to a relatively modest extent, are nickel, cobalt, manganese, graphite, bauxite, etc. The country is also known throughout the world for the extraction and trade of diamonds, the proceeds of which were one of the causes of the civil war and of which the black market and smuggling are very strong. The lack of energy minerals is a significant obstacle to the development of the Liberian economy, especially as regards the industrialization of the country; almost two thirds of the modest production of electricity is obtained from imported oil. The country is also known throughout the world for the extraction and trade of diamonds, the proceeds of which were one of the causes of the civil war and of which the black market and smuggling are very strong. The lack of energy minerals is a significant obstacle to the development of the Liberian economy, especially as regards the industrialization of the country; almost two thirds of the modest production of electricity is obtained from imported oil. The country is also known throughout the world for the extraction and trade of diamonds, the proceeds of which were one of the causes of the civil war and of which the black market and smuggling are very strong. The lack of energy minerals is a significant obstacle to the development of the Liberian economy, especially as regards the industrialization of the country; almost two thirds of the modest production of electricity is obtained from imported oil. industrialization of the country; almost two thirds of the modest production of electricity is obtained from imported oil. industrialization of the country; almost two thirds of the modest production of electricity is obtained from imported oil.

ECONOMY: TRADE AND COMMUNICATIONS

Imports are mainly represented by vehicles and machinery, fuels, foodstuffs and various industrial products, while exports are essentially made up of iron ores, rubber, diamonds, wood, coffee and cocoa; the trade balance records a net liability. § Even the roads have suffered the ravages of war. There are three railway lines, the total development of which is approx. 500 km, used for freight transport: the Bong-Monrovia, the Nimba-Buchanan and the Mano River-Monrovia. The road network has its main artery in the trunk that from Monrovia, crossing the country from S to N, connects with the Guinea network. The Liberian port movement is very lively (we have already said about the colossal, as well as nominal, fleet of the country); the main seaport is the port of Monrovia, built by the Americans and later enlarged; the port of Buchanan (iron ore), Greenville (rubber and timber) and Harper also recorded strong movements. Air communications use Robertsfield International Airport.

Liberia Economy