Liberia's merchandise trade deficit narrowed to $53.7mn in August 2026 from $93.0mn in July, the Central Bank of Liberia (CBL) said in its August economic review. Export earnings rose 9.4% from July to $241.0mn, while petroleum product imports fell 58% to $34.4mn. The deficit was still 11 times the $4.8mn gap of August 2025, however, as imports rose 42% over the year to $294.8mn.
Analysis: Fuel imports fluctuate by month, making August's lower fuel bill a potentially misleading signal. Across July and August, petroleum imports totaled 47,908 tons, 37% more than a year earlier, by our calculation. The wider shift in import demand came from machinery and transport equipment, whose value rose 49% to $124.1mn, or 42% of the month's import bill, an increase the CBL linked to higher mining activity. Gold accounted for about two-thirds of export receipts, at $162.8mn. September trade data should indicate whether capital equipment imports remain elevated.
Source: Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, August 2026 (cover dated 8 August 2026; posted November 2, 2026), August 2026 and August 2025; 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), July 2026 and July 2025; Central Bank of Liberia, CBL market buying and selling rates, November 2, 2026; European Central Bank, ECB euro foreign exchange reference rates: US dollar, November 2, 2026; Central Bank of Liberia (CBL), CBL Monetary Policy Committee Communique No. 28 (meeting of October 6, 2026), January 2027