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Home/Economy/Growth
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Economy · Growth

Growth

GDP, sector output, IMF / World Bank forecasts, and the drivers of Liberia’s expansion.

28 stories matched from the TrueRate newsroom.

CBL Statistical Data · National Accounts

Gross domestic product at market prices (LBR_NAT_0) and constant 1992 prices (LBR_NAT_00). Annual series.

Nominal GDP$5,159.7M2025
Real GDP (1992 prices)$3,865.8M2025

Chart showing Liberia nominal GDP over 15 years. Most recent: $5,159.7M in 2025.

Source: Central Bank of Liberia DataWarehousePro · Updated nightly

banking

Money Supply Hits L$299 Billion — Why Cash Is Up and Savings Are Down

Broad money reached L$299,356.37 million in March 2026, up 10.66% year-on-year, according to CBL data. But the composition is diverging: narrow money grew 7.86% in a single month while quasi money contracted 6.51%, signaling a liquidity preference shift with direct implications for bank lending and credit availability.

TrueRate · Jul 4, 2026

investing

13.11% to Borrow, 1.94% to Save: the Spread That Shapes Every Investment

The gap between what banks charge borrowers and what they pay savers widened to 11.17 percentage points in February 2026, according to CBL data. With inflation at 4.50%, every Liberian-dollar savings account is losing purchasing power — and depositors are responding by pulling money out.

TrueRate · Jul 4, 2026

policy

VAT Set to Replace GST in Biggest Tax Overhaul in Years

The Liberia Revenue Authority is steering the country's biggest indirect-tax overhaul in decades: replacing the single-rate Goods and Services Tax with a multi-stage Value Added Tax. With tax revenue at US$59.46 million in March 2026 — a month when one-off non-tax receipts swelled total revenue to US$304.37 million — the shift is as much about broadening the tax base as changing the rate.

TrueRate · Jun 23, 2026

technology

EKAN Connect Wants to Turn Every Chat Into a Checkout

Liberian-founded EKAN International is building a platform that embeds payments, invoicing and escrow directly into encrypted conversations — betting that in Africa's mobile-first economy, the messaging thread is a better checkout lane than the banking app.

TrueRate · Jun 21, 2026

business

The Cost of Credit: Why Liberian Businesses Pay 13% to Borrow

At February 2026's average lending rate of 13.11%, a cookshop owner borrowing L$500,000 pays over L$65,000 a year in interest before touching principal. Inside the structural barriers — informality, weak collateral registries, slow default recovery — that price most small businesses out of formal credit.

TrueRate · Jun 20, 2026

business

Where the US$5.2 Billion Economy Really Comes From

Liberia's GDP reached US$5,159.74 million in 2025, up 8% in nominal terms. Services account for the largest share at 38.7% of real output, followed by agriculture at 28.7% and a mining sector that has nearly doubled its weight in four years.

TrueRate · Jun 19, 2026

business

Government Revenue Hits US$304 Million in March — What It Means for Businesses That Sell to the State

Total government revenue surged to US$304.37 million in March 2026, with tax receipts at US$59.46 million and total expenditure at US$136.57 million. For Liberian businesses that contract with government, the surge signals opportunity — but also the lumpiness that makes government a difficult customer.

TrueRate · Jun 14, 2026

business

Trade and Hospitality Sector Hits US$506 Million — Inside the Quiet Services Boom

Trade and hotels generated US$505.74 million in constant-price GDP in 2025, up 5.5% and now accounting for a third of all services output. With financial institutions growing 4%, construction up 6.05%, and transport expanding steadily, the services economy is the part of Liberia's growth story that most directly touches small business.

TrueRate · Jun 13, 2026

business

China Buys US$134 Million of Liberian Exports After Near-Zero in 2024

Exports to China surged to US$134.19 million in 2025 from just US$0.61 million the year before — a jump so large it reshaped Liberia's trade geography overnight. The recovery echoes the US$146.26 million China bought in 2014 at the peak of the last iron-ore cycle, and it signals that a major commodity channel has reopened.

TrueRate · Jun 11, 2026

business

Banks Hold L$260 Billion in Deposits — Where Does the Money Go?

Liberian commercial banks held L$260,501 million in deposits included in broad money as of March 2026 — roughly US$1.42 billion at prevailing rates. Yet bank claims on the private sector grew just 1.1% over the same year. The deposits are piling up faster than banks are willing to deploy them.

TrueRate · Jun 10, 2026

business

Why Most Liberian Startups Never Get Past the First Year

Liberia's economy grew 4.57% in real terms in 2025, but the barriers to turning that growth into new businesses remain steep. Expensive credit, limited formalization, imported input costs and a narrow services sector define the startup environment.

TrueRate · Jun 9, 2026

business

Rubber Hits US$106 Million in GDP but Monthly Output Swings Wildly

Rubber contributed US$105.99 million in constant-price GDP in 2025, up 8% from US$98.14 million the year before. But monthly production tells a rougher story: output swung from 14,214 metric tons in June 2025 to 1,871 tons in September, and March 2026 came in at just 3,476 tons. The sector is growing in value while grappling with deep seasonality.

TrueRate · Jun 6, 2026

business

CBL Holds Policy Rate at 16.25% — What Businesses Should Know

The Central Bank of Liberia has held its monetary policy rate at 16.25% since October 2025 — down from 20% in mid-2024 but still elevated by historical standards. With headline inflation at 4.50%, real interest rates are strongly positive, and commercial lending at 13.11% remains expensive for most businesses.

TrueRate · Jun 3, 2026

analysis

Incomes Per Person Are Still Climbing Back to 2018 Levels

Real GDP per capita rose about 2.4% in 2025 and is up roughly 12.5% from its 2020 low, but still sits just below where it stood in 2018. The slow climb shows how population growth eats into headline gains.

TrueRate · May 27, 2026

commodities

Palm Oil Rebounds to US$173 Million After Volatile Years

Palm oil output was valued at about US$173 million in 2025, up nearly 8.8% on the year and well above its 2020 level, as a crop Liberia has long sought to scale shows signs of recovery. Smallholders and concessions both shape the outcome.

TrueRate · May 22, 2026

banking

The Financial Sector Keeps Growing — but Not by Lending to Business

The financial-institutions sector expanded about 6.8% to US$161 million in 2025, a steady climb even as banks lent more to the government than to business. The sector's growth outpaces the credit reaching the private economy.

TrueRate · May 10, 2026

economy

Moving People and Data Grows Into a US$257 Million Business

The transport and communications sector grew about 7.8% to US$257 million in 2025, lifted by mobile services, logistics and the movement of goods. Its steady expansion underpins commerce across an economy where moving goods is costly.

TrueRate · May 7, 2026

economy

A Building Boom Pushes Construction Past US$270 Million

Construction output reached US$270 million in 2025, up about 8.9% on the year and nearly double its 2020 level, as cement production hit records. The building boom is one of the clearest signs of domestic investment beyond the mines.

TrueRate · May 5, 2026

banking

Banks Are Lending to the Government, Not to Business

Banks' claims on the private sector rose just 1.1% in the year to March 2026 — a decline in real terms — while lending to the central government jumped about 40%. The pattern points to private credit being crowded out, and squares with Liberia's stubbornly high borrowing costs.

TrueRate · Apr 3, 2026

commodities

Gold and Iron Ore Drive Mining Higher as Rubber Falls

Gold, diamond and cement output rose sharply in early 2026, with diamonds more than doubling year-on-year and cement up 52%, while rubber, cocoa and timber production fell. The split captures an economy where mining surges and traditional agriculture struggles.

TrueRate · Apr 2, 2026

commodities

Iron-Ore Output Rebounds to 2.3 Million Tonnes in March

Iron-ore production reached 2.33 million metric tons in March 2026, far above the depressed level of a year earlier, while export earnings rose 47% to US$69 million. Volumes remain volatile and tied closely to global steel demand.

TrueRate · Apr 1, 2026

commodities

Exports Surge 58% to US$2.1 Billion, Powered by Gold

Total exports rose 57.9% to US$2.07 billion in 2025 on surging gold and iron-ore shipments, while imports climbed 55.4% to US$2.35 billion, widening the merchandise trade deficit to about US$281 million. The boom has reshaped Liberia's export base around gold.

TrueRate · Apr 1, 2026

analysis

Mining Output Tops US$1 Billion, Driving One-Fifth of Liberia's GDP

The value of mining and panning output rose 23% to over US$1 billion in 2025, about a fifth of GDP and the single biggest driver of last year's growth. The sector's rise brings export earnings and revenue — and a deepening concentration of the economy's fortunes.

TrueRate · Apr 1, 2026

economy

The Economy Grew 4.6% in 2025 — or 5.1%, Depending on Who's Counting

Liberia's economy expanded 4.6% in 2025, its strongest pace in three years, lifting GDP to US$5.16 billion as mining output jumped 23%. National statistics put growth half a point below the World Bank's 5.1% estimate — a reminder that headline numbers still depend on who is counting.

TrueRate · Apr 1, 2026

analysis

A Rare Current-Account Surplus, at Least by the Central Bank's Count

Liberia recorded a current-account surplus of about US$77 million for 2025 on the Central Bank's balance-of-payments data, sustained by US$941 million in remittances and transfers, even as the goods balance ran a US$281 million deficit. The World Bank, using a different method, reports a deficit — a divergence worth watching.

TrueRate · Mar 31, 2026

economy

Services Quietly Remain the Biggest Engine of the Economy

Services output reached US$2.01 billion in 2025, up about 7%, remaining the biggest part of Liberia's economy ahead of agriculture and mining. The sector's breadth — trade, transport, hospitality and government — makes it the quiet backbone of domestic activity.

TrueRate · Mar 30, 2026

economy

Agriculture Employs the Most People but Grew the Slowest

Agriculture and fisheries output reached US$1.40 billion in 2025, up just 1.3% in value, even as the sector remains the country's largest source of livelihoods. The gap between agriculture's employment and its growth is a defining feature of Liberia's uneven expansion.

TrueRate · Mar 29, 2026

economy

Cement and Beverages Push Manufacturing Up 9%

Manufacturing output rose to US$331 million in 2025, up about 9%, with cement and beverage production posting strong gains. Small as a share of GDP, the sector's growth points to expanding domestic industry that could ease reliance on imports.

TrueRate · Mar 28, 2026