BY Vaye A .Lepolu
The Liberia Institute of Statistics and Geo- Information Services ( LISGIS) has pronounced 2024 Agriculture Census and Trade across the Country,total 359,056 agricultural households were covered during the Liberia Agriculture Census, while trade performance with a total US$ 1.88 billions
The Director General for LISGIS Richard F. Ngafuan said the Census was conducted from January 2024 to March 2024 with Key Findings of Liberia having 338,630 agricultural households, concentrated primarily in Nimba (21.4%), Bong (16.7%), and Lofa (12.7%) counties. Notably, 64.5% of these households are male-headed.
According to him, The agricultural population exceeds 1 million, with 499,732 farmers, averaging two farmers per household and an average household size of four.99% of agricultural households are engaged in crop cultivation, with rice being the most cultivated crop, grown by 56.3% of households, followed by cassava at 45.9%.Poultry and livestock rearing are less common practices. Only 8.1% of households reported raising poultry, and 6.0% reported livestock rearing.
He stated Approximately 72.9% of agricultural households hire external labor, with a preference for male workers. Child labor also involved crop production is notably more prevalent in Grand Kru and Lofa counties.Fertilizer use is limited, with just 11.3% of households reporting its use, with a higher concentration in Montserrado County.
Richard Ngaafuan said the vast majority of agricultural tools are manually operated, with 87.2% of households using hand hoes and 94.1% using cutlasses. The use of machine-powered equipment remains minimal.
Meanwhile LISGIS boss also mentioned the Inflation of Jauary to AUGUST 2024 along with 2023 Annual Averages, he said from January to July 2024, the average inflation rate stood at 7.4%, reflecting a notable decrease compared to the 9.9% average recorded during the same period in 2023.
Mr. Ngafuan emphasized that this decline signals positive economic progress over the past year, they observed that the inflation trend for 2024 showed a significant downward trajectory starting in May, with rates consistently lower than those observed in 2023.
According to LISGISboss boss, the most pronounced reductions occurred in May, June, and July 2024, where inflation dropped by over 5 percentage points compared to the same months in 2023. This downward shift suggests that inflationary pressures have eased considerably throughout the mid-year months of 2024.Overall trend.
He said the inflation rate for 2024 reflects a stabilizing economic environment, marked by a significant reduction in inflationary pressures compared to 2023. This trend highlights ongoing efforts to curb inflation and enhance economic stability during this period.Key Drivers of Inflation for the Period
He also added that the Central Bank of Liberia’s tighter monetary policies, including adjustments in interest rates and refined money supply strategies, have been instrumental in curbing inflation during this period. Decline in Global Commodity Prices, a notable reduction in global oil prices has played a key role in alleviating inflationary pressures in 2024, contributing to the overall decline in the inflation rate.
At the same time, he also pronounces the Liberia Trade Performance 2024 from January to August with a total trade reached $1.88 billion, consisting of $735.61 million in exports and $1.15 billion in imports.
According to him, despite this significant trade volume, the country recorded a trade deficit of $411.76 million, indicating that imports far exceeded exports during this period.
He stated, breaking down the monthly trade performance, in January 2024 he saw exports of $96.04 million and imports of $246.15 million, resulting in a deficit of $150.12 million. In February, exports dropped slightly to $84.85 million, while imports stood at $155.76 million, leading to a trade deficit of $70.91 million. March saw a further reduction in exports to $80.80 million, with imports amounting to $91.31 million, narrowing the trade deficit to $10.52 million. April recorded a positive shift in exports, which rose to $122.50 million, while imports remained high at $170.26 million, resulting in a deficit of $47.76 million. In May, exports dipped to $91.37 million, with imports rising to $195.24 million, widening the trade deficit to $103.87 million. June marked a further increase in exports to $127.24 million, while imports were $183.62 million, bringing the trade deficit down to $56.38 million. July saw a notable improvement, with exports of $117.01 million and imports of $85.93 million, resulting in a rare trade surplus of $31.08 million. However, this positive trend did not continue into August, when exports dropped sharply to $15.80 million, while imports stood at $19.08 million, leading to a small trade deficit of $3.28 million.
However, he said, In terms of trade partners, Germany was Liberia’s top export destination, receiving goods worth $458.86 million, followed by Switzerland with $224.56 million, and the United States with $121.69 million. Other notable export destinations include the United Kingdom with $20.34 million and Belgium with $13.72 million.On the import side, Cote d’Ivoire was Liberia’s largest source of imports, accounting for $167.66 million in goods, followed by India with $125.48 million, and Togo with $104.49 million. China was another key import partner, contributing $90.82 million, while the United States accounted for $45.03 million in imports.
In addition a’s Trade Performance: January – August 2024From January to August 2024, Liberia’s total trade amounted to $1.88 billion, consisting of $735.61 million in exports and $1.15 billion in imports. The country recorded a trade deficit of $411.76 million, highlighting that imports continue to outpace exports during this period.Monthly Trade Breakdown:In January 2024, Liberia exported $96.04 million in goods and imported $246.15 million, resulting in a trade deficit of $150.12 million. February saw exports drop to $84.85 million, with imports totaling $155.76 million, reducing the trade deficit to $70.91 million. March recorded exports of $80.80 million and imports of $91.31 million, bringing the deficit down to $10.52 million.April saw an increase in exports, rising to $122.50 million, while imports remained high at $170.26 million, leaving a deficit of $47.76 million. In May, exports amounted to $91.37 million, with imports rising to $195.24 million, resulting in a larger deficit of $103.87 million. By June, exports reached $127.24 million, while imports amounted to $183.62 million, narrowing the deficit to $56.38 million.July saw a positive shift with exports of $117.01 million and imports of $85.93 million, resulting in a $31.08 million trade surplus. However, this trend was not sustained into August, where exports declined sharply to $15.80 million, while imports were $19.08 million, resulting in a smaller deficit of $3.28 million.
DG Ngafuan outline some key Trading Partners with top Export Destinations, Germany received the largest share of exports at $458.86 million.Switzerland followed with $224.56 million.The United States ranked third with $121.69 million.Additional export destinations include the United Kingdom ($20.34 million) and Belgium ($13.72 million).Top Import Sources:Cote d’Ivoire was the largest source of imports, with $167.66 million in goods.India followed with $125.48 million, while Togo accounted for $104.49 million.Other key import partners include China ($90.82 million) and the United States ($45.03 million).Top Imported Products:Liberia’s major imports were dominated by essential commodities and machinery:Petroleum oils (excluding crude and waste oils) were the largest import, totaling $278.80 million.Rice was another major import, with $134.75 million spent on semi-milled or wholly milled rice.Other significant imports included electric machinery ($29.96 million), machines for data reception and transmission ($21.50 million), and diesel-powered vehicles with a cylinder capacity between 1500cc and 2500cc ($20.84 million).Top Exported Products:Liberia’s export portfolio was led by valuable minerals and agricultural products:Gold bullion dominated exports, contributing $476.55 million.Natural rubber (technically specified) accounted for $102.51 million in exports.Iron ore concentrates were also significant, with exports worth $96.69 million.Additional key exports included palm oil ($20.45 million) and diamonds ($13.16 million).
