Import and Export
Because of the insignificance of its manufacturing sector, the Liberian economy relies on its imports. The main exports of Liberia traditionally were iron ore, rubber, wood, diamonds, cacao, coffee, and palm kernels. Imports typically included mineral fuels, machinery, metals, foodstuffs, and textiles. Principal trading partners for exports were Belgium and Luxembourg (which constitute a single trading entity), Singapore, Ukraine, Norway, Malaysia, and The Netherlands. Leading sources for imports were South Korea, Japan, and France.
Potential importers are required to obtain blank Import Permit Declaration (IPD) forms from the division of Foreign Trade within the Ministry of Commerce and Industry and subsequently resubmit it along with:
Prior to final approval of the Import Permit Declaration (IPD) forms, the Ministry of Commerce and Industry must satisfy itself through consultation with the National Investment Commission that the importation of the goods for which permit is sought does not in any way contravene a prevailing protection policy. The Ministry of Commerce and Industry determines related charges.
The government levies taxes on the export of gold, diamond and precious metals and minerals (unfinished) of 15% of the value. A royalty of 3% is also levied on diamonds and precious metals and stones rough or uncut.
Potential importers are required to obtain blank Import Permit Declaration (IPD) forms from the division of Foreign Trade within the Ministry of Commerce and Industry and subsequently resubmit it along with:
- Performa invoices in triplicates
- Contract and or agreement
Prior to final approval of the Import Permit Declaration (IPD) forms, the Ministry of Commerce and Industry must satisfy itself through consultation with the National Investment Commission that the importation of the goods for which permit is sought does not in any way contravene a prevailing protection policy. The Ministry of Commerce and Industry determines related charges.
The government levies taxes on the export of gold, diamond and precious metals and minerals (unfinished) of 15% of the value. A royalty of 3% is also levied on diamonds and precious metals and stones rough or uncut.
NIC in Pictures
