GFmag Online Readers Survey 2012
Libya


Libya Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Libya; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Libya
International ReservesUS$ 106.144 billion (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPN/A
GDP (Purchasing Power Parity)N/A
Real GDP growth
20002001200220032004200520062007
3.7%-4.3%-1.3%13%4.4%10.3%6.7%7.5%
2008200920102011*
2.3%-2.3%4.2%N/A

*Estimate

GDP per capita - current pricesN/A
GDP per capita - PPPN/A
GDP (PPP) - share of world total
19801990200020102015**
0.37%0.18%0.12%0.13%0.15%

**Forecast

GDP - composition by sector
  • agriculture: 3.6% 
  • industry: 56.7% 
  • services: 39.7% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
10.4%(2008)2.8%2.4%N/A

*Estimate

Unemployment rate
2008200920102011*
N/AN/AN/A(2009)N/A

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
N/AN/A0%0%N/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
33.3%30.3%9.4%13.3%14.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: A-/Stable/A-2

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
N/AN/AN/A
Largest companies in LibyaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceN/A(After 2008)
Current account balance by percentage of GDPN/A(2009)
Exports as percent of GDP

(Exports of goods and services)

67.4% (2008)

(Data released on December 2010)

Shares in world total merchandising export0.31%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$44.89 billion f.o.b. (2010 estimate)
Export commoditiescrude oil, refined petroleum products, natural gas, chemicals
Total importsUS$20.64 billion f.o.b. (2008 estimate)
Import commoditiesmachinery, semi-finished goods, food, transport equipment, consumer products
Exports - major partnersItaly 40.5%, Germany 12.2%, US 7.4%, Spain 7.4%, France 6.3% (2007)
Imports - major partnersItaly 18.9%, Germany 7.7%, China 7.3%, Tunisia 6.8%, France 5.7%, Turkey 5.4%, US 4.3% (2007)
FDI inflows
200820092010
US$4,111 millionUS$2,674 million(2009)US$3,833 million(2009)
FDI outflows
200820092010
US$5,888 millionUS$1,165 millionUS$1,282 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$51 millionUS$601 million(2009)US$377 million(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: N/A(2009) (2010)

Subcategories:

Starting a business: N/A(2009)

Registering property: N/A

Paying Taxes: N/A

Getting credit: N/A

Protecting investors: N/A

Trading across border: N/A

Enforcing Contracts: N/A

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		N/A

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 173 Score: 38.6 (Repressed) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+2
Total area 1,759,540 km2 (2006)
CapitalTripoli (Tarabulus) (2009)
CurrencyLibyan dinars (LYD) (2009)
Government typeJamahiriya (a state of the masses) in theory, governed by the populace through local councils; in practice, an authoritarian state (2009)
LanguagesArabic, Italian, English, all are widely understood in the major cities
ReligionsSunni Muslim 97%, other 3%
Total population
1980199020002010*2015**
3.04 million4.33 million5.31 million6.46 million7.13 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
27.3%70.1%76.4%77.7%
Population median age25.0 years (2006)
Population growth rate2% (2009)
Life expectancy74 years (2007)
Adult literacy87% (2000/2007)
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

N/A

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:7
Civil Liberties:7 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

190.84% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population14% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Tripoli: 190th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

9.2674 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST EMERGING MARKET BANKS

2010:
  • COUNTRY WINNERS Wahda Bank (National, 2010)
2009:
  • COUNTRY WINNERS Al-Wahda Bank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE