Flag description: 11 equal horizontal stripes of red (top and bottom) alternating with white; there is a white five-pointed star on a blue square in the upper hoist-side corner; the design was based on the US flag
Economy
Economy—overview: A civil war in 1989-97 has destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some returned during 1997. Many will not return. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local manufacturing, mainly foreign owned, had been small in scope. The democratically elected government, installed in August 1997, inherited massive international debts and currently relies on revenues from its maritime registry to provide the bulk of its foreign exchange earnings. The restoration of the infrastructure and the raising of incomes in this ravaged economy depends on the implementation of sound macro- and micro-economic policies of the new government, including the encouragement of foreign investment.
GDP: purchasing power parity—$2.8 billion (1998 est.)
GDP—real growth rate: NA%
GDP—per capita: purchasing power parity?$1,000 (1998 est.)
GDP—composition by sector: agriculture: 30% industry: 36% services: 34%
Population below poverty line: 80%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): NA%