The GDP composition of Liberia in 2023 showed a strong dependence on agriculture, forestry, and fishing, which constituted approximately 72.86% of the GDP. The services sector contributed 7.6%, while mining, manufacturing, and utilities represented 7.19%. Transport, storage, and communication accounted for 5.65%, with wholesale, retail trade, restaurants, and hotels making up 5.14%. The construction sector had the smallest share at 1.56%. Over the past two years, notable growth was seen in services and construction, while agriculture's dominance slightly diminished. The five-year CAGR indicated modest overall growth, primarily driven by the expansion of non-agricultural sectors.
Future trends to monitor include Liberia's efforts to diversify its economy, reducing dependency on agriculture while advancing sectors like services and manufacturing. Infrastructure development can enhance transport and trade, while strategic policy can attract investment in mining and utilities. Increased focus on sustainable practices in agriculture and forestry could also play a critical role in shaping the GDP composition.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Agriculture, hunting, forestry, fishing | 72.86 | 2016 | |
| 2 | 2 Services | 7.6 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 7.19 | 2016 | |
| 4 | 4 Transport, storage and communication | 5.65 | 2016 | |
| 5 | 5 Wholesale, retail trade, restaurants and hotels | 5.14 | 2016 | |
| 6 | 6 Construction | 1.56 | 2016 |
