Ministry of Commerce & Industry — Institutional Report

Institution Overview

• Institution: Ministry of Commerce & Industry
• Year: 2,024
• Quarter: Annual
• Expenditure (USD): 10,099,816
• Active Employees: 340
• Workforce Size: 367

Expenditure & Workforce Trends

• 2024 (Annual): Expenditure: 10,099,816 USD · Active: 340 · Workforce: 367
• 2023 (Annual): Expenditure: 9,528,128 USD · Active: 335 · Workforce: 362
• 2022 (Annual): Expenditure: 8,988,800 USD · Active: 330 · Workforce: 356
• 2021 (Annual): Expenditure: 8,480,000 USD · Active: 325 · Workforce: 351
• 2020 (Annual): Expenditure: 8,000,000 USD · Active: 320 · Workforce: 346

National Macroeconomic Indicators

| Indicator | Value | Year | Trend | |---|---|---|---| | GDP (Current Prices) | 5.64 USD Billions | 2026 | up | | International Reserves | 2.9 Months of Import Cover | 2026 | up | | Public Debt | 54.6 % of GDP | 2026 | down | | Inflation Rate (CPI) | 8.2 % | 2026 | up | | GDP Growth Rate | 5 % | 2026 | stable | | Fiscal Deficit | 2.7 % of GDP | 2026 | up | | Current Account Deficit | 14.8 % of GDP | 2026 | up | | LRD/USD Exchange Rate | 183.9 LRD per USD | 2026 | up | | Real GDP Growth Rate | 5.4 % | 2026 | up | | Government Expenditure | 916.6 USD Millions | 2025 | up | | Tax Revenue to GDP Ratio | 15.9 % | 2025 | up | | Poverty Rate | 33.6 % | 2025 | up | | Unemployment Rate | 2.9 % | 2025 | stable | | Non-Performing Loans Ratio | 16.2 % | 2025 | stable | | Government Revenue | 880.7 USD Millions | 2025 | up | | FDI Inflows | 520 USD Millions | 2025 | up | | Capital Adequacy Ratio | 35 % | 2025 | stable | | Mining Sector Growth | 17 % | 2025 | up | | Central Bank Policy Rate | 16.25 % | 2025 | down | | Headline Inflation | 8.5 % | 2025 | down | | Gross Domestic Product (Nominal) | 5.25 USD billion | 2025 | up | | Population Growth Rate | 2.1 % | 2025 | stable | | Tax Revenue to GDP | 15.9 % | 2025 | up | | GDP (current US$) | 5.25 USD billion | 2025 | up | | Primary Fiscal Surplus | 1.4 % of GDP | 2025 | up | | Monetary Policy Rate | 16.25 % | 2025 | down | | GDP per Capita | 915.3 USD | 2025 | up | | Inflation Rate | 6.1 % | 2025 | down | | Real Non-Oil GDP Growth | 4.57 % | 2025 | up | | Total Population | 5,731,206 people | 2025 | up | | Nominal GDP | 5.64 USD billion | 2025 | up | | GDP per capita | 915.3 USD | 2025 | up | | Inflation Rate (Annual Average) | 8.5 % | 2025 | up | | Current Account Deficit to GDP | 14.4 % | 2025 | down | | Gross Domestic Product (GDP) | 5.25 USD billion | 2025 | up | | Public Debt to GDP | 54.6 % | 2025 | down | | Overall Fiscal Deficit to GDP | 1.1 % | 2025 | down | | Inflation Rate (Consumer Prices) | 6 % | 2025 | down |

National Trade Context

• Year: 2,026
• Total Exports (USD): 199.97
• Total Imports (USD): 261.94
• Trade Balance (USD): -61.97
• FDI Inflows (USD): 0
• Remittances (USD): 84.78
• Top Export Commodity: Rubber
• Top Import Commodity: Fuel

Private Sector Context (National)

• Year: 2,024
• Total GDP Contribution (USD M): 545.5
• ArcelorMittal Liberia: 480,000,000 USD revenue · 3,200 employees
• Firestone Natural Rubber: 185,000,000 USD revenue · 6,800 employees
• BRAC Liberia: 12,000,000 USD revenue · 450 employees
• Save the Children Liberia: 8,500,000 USD revenue · 320 employees
• SME Sector Aggregate: 95,000,000 USD revenue · 18,500 employees

Economic Analysis & Outlook

The Ministry of Commerce and Industry (MOCI) has demonstrated a consistent upward trajectory in budgetary allocation, moving from 8.0 million USD in 2020 to 10.1 million USD by 2024, reflecting the government's commitment to strengthening trade oversight and industrial development. This financial expansion supports a workforce of 340 active employees, crucial for managing the national economic landscape amidst a period of projected growth. By 2026, the Liberian economy is forecasted to reach a GDP of 5.64 billion USD with a robust real GDP growth rate of 5.4 percent, anchored by strong sectoral performance, particularly in mining, which is expected to see a significant expansion of 17 percent in 2025. These indicators suggest that while the Ministry faces a complex trade environment characterized by a current account deficit of 14.8 percent of GDP, the anticipated stability in inflation at 8.2 percent provides a constructive backdrop for regulatory and industrial policy enforcement. Investment opportunities in Liberia are heavily supported by FDI inflows of 520 million USD, providing a solid foundation for the MOCI to incentivize value-added manufacturing and export diversification. However, potential risks persist, notably the non-performing loans ratio of 16.2 percent and a public debt-to-GDP ratio of 54.6 percent, which necessitate prudent fiscal management and strategic trade facilitation to maintain economic resilience. Moving forward, the Ministry's strategic outlook must focus on mitigating the impact of the current account deficit through export promotion and domestic capacity building. By leveraging the projected population growth of 2.1 percent and the improving GDP per capita of 915.3 USD, the MOCI is well-positioned to foster a more inclusive commercial environment. Success will depend on the Ministry's ability to translate increased financial resources into efficient bureaucratic processes that lower the cost of doing business, thereby attracting more sustainable, non-extractive foreign investment.