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
Liberia Economy
Economy - overview: A civil war in 1989-96 destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen 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 depend on the implementation of sound macro- and micro-economic policies of the new government, including the encouragement of foreign investment. Recent growth has been from a low base, and continued growth will require major policy successes.
GDP: purchasing power parity - $3.35 billion (2000 est.)
GDP - real growth rate: 15% (2000 est.)
GDP - per capita: purchasing power parity - $1,100 (2000 est.)
GDP - composition by sector: agriculture: 60%
industry: 10%
services: 30% (2000 est.)
Population below poverty line: 80%