Source: world bank Nominal/PPP
Summary:
Liberia GDP Per Capita expanded from 1960 to 2024, increasing from $167.17 to $851.50 .The compound annual growth rate (CAGR) averaged 2.58% over the period. The economy recorded its peak level in 2024 and its lowest level in 1994. Growth volatility remained high. The maximum drawdown reached 86.12%, indicating the largest cyclical decline from peak levels. The country experienced 8 recession episode(s) during the observed period.
Liberia Economic Phases (1960 - 2024)
From 1960 to 2024, Liberia economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Expansion (1962–1963) indicating steady moderate growth
- Expansion (1965–1968) indicating steady moderate growth
- Expansion (1970–1971) indicating steady moderate growth
- High Growth (1974–1975) indicating robust economic expansion
- Contraction (1981–1986) indicating temporary slowdown
- Crisis (1989–1990) indicating severe economic downturn
- Crisis (1992–1994) indicating severe economic downturn
- High Growth (1996–2000) indicating robust economic expansion
- High Growth (2006–2008) indicating robust economic expansion
- High Growth (2010–2013) indicating robust economic expansion
- Contraction (2014–2015) indicating temporary slowdown
- Contraction (2017–2020) indicating temporary slowdown
- High Growth (2021–2024) indicating robust economic expansion
The most remarkable growth occurred in 2000 with an increase of 90.636%, while the largest decline was in 1990 at -44.645%.