- Despite a faltering economy (25% inflation), Liberia’s bright spot remains its ship registry.
- Over 4,400 vessels (12% of global shipping) fly the Liberian flag.
- In the 1920s, shipowners started registering abroad to avoid domestic taxes.
- Liberia capitalized on this shift and amassed the largest merchant navy by the 1960s.
- The Liberian Civil War (1989-2003) drove many shipowners away to countries such as Panama.
- Liberia is regaining market share via agreement with China making it easier to ship into Chinese ports while flying Liberian flag.
