General Information on Liberia
There has been a consistent increase in Liberia’s GDP since the 1960s until the start of the first civil war when it dropped sharply. The GDP has grown consistently again after the end of the second civil war which ended in 2003 (see Fig. 1). Businesses that fled the country began to return after the installation of a democratically elected government in 2006. The country achieved high growth during 2010–2013 due to favorable world prices for its commodities. The economy declined following the outbreak of the ebolavirus and a drop in global prices of their mineral exports. Not only did businesses and expertise leave, the Liberia government had to divert resources to combat the spread of the virus. Weak commodity prices continue to weigh on Liberia’s economy, which contracted by an estimated 0.5% in 2016.
Trend of GDP of Liberia (1960–2016). (Source: World Bank Data (Accessed 20/10/2017))
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References
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Kala, M., Mensah, K.A. (2018). Liberia: Mineral Policy. In: Tiess, G., Majumder, T., Cameron, P. (eds) Encyclopedia of Mineral and Energy Policy. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-40871-7_214-1
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