Liberia recorded a merchandise trade deficit of $92.96mn in July 2026, reversing a $36.77mn surplus in June, the Central Bank of Liberia (CBL) said in its July economic review. Import payments rose 71% to $313.25mn, while export earnings edged up 0.3% to $220.29mn. Gross international reserves slipped to $963.95mn, while import cover dropped to 3.0 months from 5.2 months, the bank said.
Analysis: Fuel and rice accounted for roughly two-thirds of the $130mn increase in imports, by our calculation. The import bill had been unusually low in June, suggesting July may partly reflect restocking rather than a lasting change in demand. Foreign reserves declined just 2.1%, while the larger import bill reduced the number of months of imports they could cover. That measure is now near ECOWAS's three-month benchmark, leaving less protection against future import shocks. The central bank's August economic review, expected in November, may show whether purchases eased after July.
Source: Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, July 2026, July 2026; Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, July 2026 (Vol. 12 No. 7), June 2026 and July 2025 and July 2026; Central Bank of Liberia (CBL), CBL Monetary Policy Committee Communique No. 28 (meeting of October 6, 2026), Q3 2026