Liberia's export economy is dominated by rubber. The Firestone Natural Rubber Company along with a few other firms ships over $200M of goods from Liberia each year. Rubber exports accounted for 88% of Liberia's exports in 2008. In 2010, the volume of trade has increased over the previous year and the price on the world market has increased also. New plantations have come online this year to diversify the industry. These are great signs for Liberia because the rubber industry is country's largest private sector employer with 6,500 employees and vital to its economy.
Firestone not only employs many people, it provides services as well. The company has over 16,000 students enrolled in its primary and secondary schools. It also has 17 medical facilities and a retirement program. Nothing else that I've heard about in the private sector matches it.
While Firestone is the best show in town in dollar terms, it has been accused of human rights violations including using child labor. Stopfirestone.org prods the company to make improvements and the prodding has had some positive results. Firestone recently stopped workers from carrying latex on their shoulders. The activist group asked the plantation to end the practice in a January 2010 letter and 6 months later, the company has shifted its procedure.
It is good that Firestone is able to increase production, provide services for its employees and that a vocal group can criticize its practices and get results. Firestone's power could and would completely censor a group like Stopfirestone.org in many countries. Liberia is demanding respect for its citizens and economic reality. Business and fairness both seem to be making progress here.
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