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 bank Central Bank of Libya
International Reserves US$ 110.539 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 79.691 billion (2009 estimate)
GDP (Purchasing Power Parity) 66.941 billion of International dollars (2009 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
-4.3% -1.3% 13% 4.4% 10.3% 6.7% 7.5% 5.4%
2009 2010 2011 2012*
-0.1% 2.5% -61% 76.3%

*Estimate

GDP per capita - current prices US$ 12,059 (2008 estimate)
GDP per capita - PPP $10,130 International Dollars (2008 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.37% 0.18% 0.12% 0.13% 0.1%

**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 March 2012)

Inflation
2009 2010 2011 2012*
2.4%(2008) 2.5% 14.1% 1.9%

*Estimate

Unemployment rate
2009 2010 2011 2012*
N/A N/A N/A(2009) N/A

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
0% 0% 0% N/A N/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
30.5% 12.8% 6.2% N/A N/A

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: N/A

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in Libya N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 12.3 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP 15.4% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

N/A

(Data released on April 2012)

Shares in world total merchandising export 0.1%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.01% (2010)(2007)

(Data were released in 2012)

Total exports US$51.48 billion (2012 estimate) 
Export commodities crude oil, refined petroleum products, natural gas, chemicals
Total imports US$16.31 billion (2012 estimate) 
Import commodities machinery, semi-finished goods, food, transport equipment, consumer products
Exports - major partners Italy 21.5%, Germany 13.5%, France 13.4%, China 10.1%, Spain 4.9%, Tunisia 4.6%, India 4.3% (2011)
Imports - major partners Egypt 15.5%, Tunisia 11.9%, Turkey 8.1%, China 7.8%, Italy 7.5%, Syria 4.6%, France 4.4%, Germany 4.3% (2011)
FDI inflows
2009 2010 2011
US$3,310 million US$1,909 million(2009) N/A(2009)
FDI outflows
2009 2010 2011
US$1,165 million US$2,722 million US$233 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$51 million US$601 million(2009) US$377 million(2009) N/A
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

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

Cross-border M&A deals worth over $3 billion completed in 2011

(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 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: N/A(2009) (2013)

Subcategories:

Starting a business: N/A(2009)

Enforcing Contracts: N/A

Registering Property: N/A

Getting credit: N/A

Protecting investors: N/A

Trading across border: N/A

Paying Taxes: N/A

Dealing with Construction Permits: N/A

Getting Electricity: N/A

Resolving Insolvency: N/A

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
113

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 176 Score: 35.9 (Repressed) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+2
Total area 1,759,540 km2 (2006)
Capital Tripoli (Tarabulus) (2009)
Currency Libyan dinars (LYD) (2009)
Government type Jamahiriya (a state of the masses) in theory, governed by the populace through local councils; in practice, an authoritarian state (2009)
Languages Arabic, Italian, English, all are widely understood in the major cities
Religions Sunni Muslim 97%, other 3%
Total population
1980 1990 2000 2012* 2017**
3.04 million 4.33 million 5.31 million 6.61 million 7.3 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
27.3% 70.1% 76.4% 77.7%
Population median age 26 years (2010)
Population growth rate 1.1% (2011)
Life expectancy 75 years (2010)
Adult literacy 89% (2005/2010)
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

N/A

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:7
Civil Liberties:6 (2011)

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

Total telephone subscribers as % of population

171.27% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 17% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer 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)

10.0395 (Data were released in 2012 and refer to 2009)

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