PROFITABILITYOF MEDICINAL PLANT PRODUCT EXPORTS FROM MONTSERRADO COUNTY, LIBERIA

The trade of medicinal plants (MPs) is proving to be a major source of foreign earnings for many developing nations. In Montserrado County, the trade of medicinal plant products (MPPs) is prevalent, but literature regarding the export of these products from Liberia remains insufficient. This study examined the trade MPPs originating from Montserrado County on the international stage. A survey of seven selected marketplaces was carried out to determine the number of herbal product vendors (HPVs) in the study area. Primary data was collected from 27 herbal practitioners (HPs), and 43 HPVs using a questionnaires. Excel 2016 was used to perform a descriptive data analysis. Results showed that a whopping 70% of the respondents were involved in local trade, while only 30% were involved in exportation. ECOWAS Countries (38.10%) were the major export markets for MPPs from the County. This study found that the exportation of MPPs is more profitable than trading them locally, as reported by 90.48% of the exporters. The cheap cost of production (47.62%) was identified as the major spur to the exportation of these products. Nonetheless, the high cost of transportation (71.43%) was found to be the major hindrance to the exportation of these products. The government’s involvement in this sector can boost Liberia’s foreign earnings and open new opportunities for the country bordered on reduction of unemployment and promotion of economic activities.