Liberia’s Economy Grew 5.1% in 2025, Driven by Mining Boom
Liberia’s economy expanded by 5.1% in 2025, driven by a strong rebound in mining and continued gains in the services and agriculture. Mining sector growth increased to 17.0% from 2.1% in 2024, providing a significant boost to industrial output. The services sector grew by 4.4%, supported by trade, electricity supply, and transport activity, while agricultural growth eased to 2.6% as price effects faded and rubber output slowed.
Inflationary pressures remained contained, with headline inflation averaging 8.5% in 2025. Food inflation declined sharply from 9.7% year-on-year (y/y) in December 2024 to -1.7% by December 2025, while nonfood inflation moderated from 11.1% (y/y) to 6.6% over the same period.
The Central Bank of Liberia maintained its restrictive policy stance, cautiously easing its policy rate from 17% in January 2025 to 16.25% in December, a measured intervention that reflected the inflation dynamics.
Liberia’s fiscal performance improved considerably in 2025.The overall fiscal deficit narrowed to 1.1% of GDP in 2025 from 2.0% the previous year, driven by growth in domestic revenue and compressed spending. The primary balance swung to a surplus of 0.2% of GDP, compared to a deficit of 1.0% in 2024. Public debt declined from 57.2% of GDP in 2024 to 54.6% in 2025.
On the external side, the current account deficit declined from 8.1% of GDP in 2024 to 6.5% in 2025. Export performance was robust, led by gold and iron ore, however, the gains in exports were offset by rising imports and sizable outflows from services and income. Remittances provided some cushion, helping to contain the overall deficit. Liberia’s external buffers remain limited, with foreign reserves standing at $576 million, an equivalent of approximately 2.0 months of import cover at end-2025.
Source credit: World Bank Country Page
Date: January 23, 2026