Africa-Press – Liberia. As Liberia continues to solidify its position within the global economy, the country’s trade and agricultural sectors remain central to its economic growth and sustainability.
A recent report from the Liberia Institute of Statistics and Geo-Information Services (LISGIS) provides a comprehensive overview of Liberia’s external trade activities, agricultural production, and the socio-economic challenges facing the country.
In its 2024 review, LISGIS highlights the importance of regional agricultural contributions, the status of food production, and Liberia’s ongoing efforts to modernize its economy.
Exports, Imports, and Key Commodities
In 2024, LISGIS says Liberia recorded a total trade value of USD 2.64 billion, with exports reaching USD 1.03 billion and imports amounting to USD 1.61 billion.
The balance of trade shows a notable deficit, underscoring the country’s reliance on imports to meet its growing consumer demands.
According to LISGIS Director-General Richard Fatorma Ngafuan, Liberia’s import bill is dominated by a few essential goods, notably petroleum products, rice, motor vehicles, and lamps/lighting products.
These commodities alone account for 41% of Liberia’s total imports.
Petroleum products remain a critical import, as Liberia continues to face challenges in refining and producing sufficient fuel domestically.
He said Rice, the staple food for Liberians, also makes up a significant portion of the import landscape, highlighting the ongoing challenges of local food production.
Motor vehicles, which facilitate both domestic and regional trade, and lamps/lighting products further underscore the country’s dependence on foreign markets for essential infrastructure and utilities, LISGIS boss disclosed.
On the export side, Liberia’s primary export commodities include iron ore, rubber, and timber. These sectors have long been the backbone of the Liberian economy, with international markets playing a key role in maintaining the flow of these resources.
However, the country remains vulnerable to fluctuations in global commodity prices, a challenge compounded by limited diversification in the export sector.
Agricultural Production: Counties as Key Food Contributors
Liberia’s agricultural sector, a major driver of rural livelihoods, continues to be the cornerstone of its economic development. According to the 2024 Liberia Agriculture Census, the country has 338,630 agricultural households, with the highest concentrations in Nimba (21.4%), Bong (16.7%), and Lofa (12.7%) counties.
These counties are crucial to Liberia’s food security, with farmers in these regions primarily cultivating rice and cassava, which are the most widely grown crops.
“In fact, 56.3% of households reported cultivating rice, while 45.9% of them are engaged in cassava farming,” Ngafuan noted.
He said despite the central role agriculture plays in the economy, the sector faces significant challenges, including a heavy reliance on rain-fed farming, which leaves crops vulnerable to climate variability.
“The census found that only 2.3% of agricultural holdings utilize irrigation systems, highlighting the urgent need for investment in modern farming technologies,”
He said this issue is compounded by the prevalence of traditional farming tools such as cutlasses (94.1%) and hand hoes (87.2%), which further constrain productivity and efficiency.
Additionally, the agricultural census revealed that female-headed households are disproportionately affected by limited access to education.
Approximately 64.5% of female household heads reported having no formal education, compared to 38.3% of male heads.
These disparities underscore the need for targeted policies to increase agricultural productivity and promote inclusive growth, particularly for women in rural areas.
Livestock and Poultry Farming: A Growing Sector
Beyond crop cultivation, Liberia’s livestock and poultry farming sector is also showing potential.
The 2024 census review shows that households in the country collectively raise over 444,000 chickens and 67,000 goats. While small-scale livestock farming plays an essential role in rural economies, there is a growing need for modern animal husbandry practices to improve productivity and meet the increasing demand for protein.
The agriculture census also pointed to a wider potential for diversification within the sector. As Liberia works to modernize its agricultural base, strategic investments in livestock, poultry, and aquaculture could help create a more resilient and diversified food system.
Inflation and Consumer Price Index
Inflation trends in Liberia have shown some positive movement in 2024, according to the latest data from LISGIS. The country’s Consumer Price Index (CPI) revealed a steady decline in inflation, from 10.5% in January to 6.2% in June, stabilizing at 7.2% by October. This decrease, Director Ngafuan says can be attributed to a mix of tight monetary policies by the Central Bank of Liberia, stable exchange rates, and controlled fiscal measures.
However, rising import costs, particularly for essential goods such as rice and fuel, continue to exert pressure on the consumer economy, the census review points out.
LISGIS’ Capacity Building and Data-Driven Policies
LISGIS has made considerable strides in enhancing its capacity to deliver reliable data, which is crucial for informed decision-making. In 2024, the agency invested significantly in the professional development of its workforce, sending 24 staff members abroad to pursue advanced degrees in fields such as Geographic Information Systems (GIS), Development Economics, and Data Science.
DG Ngafuan says LISGIS focus is on building technical capacity aimed at improving the quality of statistics, especially in areas like agriculture, inflation monitoring, and trade analysis.
One of the key accomplishments of LISGIS in 2024 was the completion of the Liberia Agriculture Census, which has provided a detailed profile of the country’s agricultural landscape.
This data is expected to inform future policies and interventions that address food security, agricultural modernization, and rural development.
The results of the census will be pivotal in guiding investments in irrigation, mechanization, and capacity-building for smallholder farmers.
LISGIS is also conducting several ongoing surveys, including a follow-up agriculture survey in the northwest, an informal cross-border trade survey, and a nationwide Household Income and Expenditure Survey (HIES), which will provide crucial data on poverty, inequality, and the socio-economic conditions of Liberian households.
While Liberia faces significant challenges in its trade and agricultural sectors, there are also abundant opportunities for growth and development. The agricultural sector, with its vast potential for modernization and diversification, presents a promising avenue for economic transformation.
Additionally, investments in infrastructure, education, and technology could further support the country’s efforts to reduce import dependency, increase exports, and improve food security, Ngafuan told journalists.
He said LISGIS’s ongoing capacity-building initiatives and its leadership role in the Statistical Commission for Africa position Liberia well for future data-driven policymaking. With targeted interventions and a commitment to innovation, Liberia can leverage its agricultural and trade potential to foster sustainable growth and prosperity in the years to come.
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