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Libya GDP and Economic Data

Includes Libya real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Libya economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Libya best banks and safest banks are also available.

 
 
Source
Central bank

Central Bank of Libya

Source
International Reserves

USD 73.9 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Source
Gross Domestic Product - GDP

USD 51.4 billion (2017, estimate)

Source
GDP (Purchasing Power Parity)

Intl$ 105.6 billion (2017, estimate)

Source
Real GDP growth
2006 2007 2008 2009 2010 2011 2012
6.5% 6.4% 2.7% -0.8% 5% -62.1% 104.5%
2013 2014 2015* 2016* 2017*    
-13.6% -24% -6.4% -3.3% 13.7%    

*Estimate

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GDP per capita - current prices

USD 7,972.2 (2017, estimate)

Source
GDP per capita - PPP

Intl$ 16,374.2 (2017, estimate)

Source
GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.60% 0.28% 0.19% 0.21% 0.08%

*Estimate

Source
 
 
Source
GDP - composition by sector
  • agriculture: 1.9% 
  • industry: 43.2% 
  • services: 54.9%

(2016 estimate)

Source
Gross domestic expenditure on R&D; (% of GDP)

N/A

Source
Inflation
2013 2014 2015* 2016* 2017*
2.6% 2.8% 14.1% 14.2% 12.5%

*Estimate

Source
Unemployment rate
2013 2014 2015 2016 2017
N/A N/A N/A N/A N/A

*Estimate

Source
Household saving rates

N/A

 

Source
Public debt (General government gross debt as a % of GDP)
2013 2014 2015* 2016* 2017*
3.7% 36.4% 73.8% 101.8% 100.2%

*Estimate

Source
Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015* 2016* 2017*
-4% -40.3% -52.5% -56.6% -43.8%

*Estimate

Source
Government bond ratings

Standard & Poor's: N/A

Moody's: N/A

Standard & Poor's / Moody's (Updated January 2017)

Source
Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Source
Largest companies

N/A

Source
 
 
Source
Current account balance

USD -19.0 billion (2017 estimate)

Source
Current account balance by percentage of GDP

-36.9% (2017 estimate)

Source
Exports as percent of GDP (Exports of goods and services)

54.8% (2011)

Source
Shares in world total merchandising export

0.06% (2015)

Source
Shares in world total commercial services export

0.002% (2014)

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Total exports

USD 10.7 billion (2016 estimate)

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Export commodities

Crude oil, refined petroleum products, natural gas, chemicals

Source
Total imports

USD 9.6 billion (2016 estimate)

Source
 
 
Source
Import commodities

Machinery, semi-finished goods, food, transport equipment, consumer products

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Exports - major partners

Italy 32.1%, Germany 11.3%, China 8%, France 8%, Spain 5.6%, Netherlands 5.4%, Syria 5.3% (2015)

Source
Imports - major partners

China 14.8%, Italy 12.9%, Turkey 11.1%, Tunisia 6.5%, France 6.1%, Spain 4.6%, Syria 4.5%, Egypt 4.4%, South Korea 4.3% (2015)

Source
FDI inflows
2013 2014 2015
USD 702 million USD 50 million USD 726 million
Source
FDI outflows
2013 2014 2015
USD 6.0 million USD 78.0 million USD 864.3 million
Source
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A N/A N/A
Source
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Source
Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Source
Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 188 out of 190 countries (2017)

Subcategories:

Starting a business: 163 out of 190 countries

Enforcing Contracts: 143 out of 190 countries

Registering Property: 187 out of 190 countries

Getting Credit: 185 out of 190 countries

Protecting Minority Investors: 185 out of 190 countries

Trading Across Borders: 114 out of 190 countries

Paying Taxes: 121 out of 190 countries

Dealing with Construction Permits: 187 out of 190 countries

Getting Electricity: 128 out of 190 countries

Resolving Insolvency: 169 out of 190 countries

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Global competitiveness ranking

N/A

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Index of Economic Freedom

N/A

Source
 
 
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Time zone

UTC+2

Source
Total area

1,759,540 sq km

Source
Capital

Tripoli (Tarabulus)

Source
Currency

Libyan dinars (LYD)

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Government type

Operates under a transitional government

Source
Languages

Arabic (official), Italian, English (all widely understood in the major cities); Berber (Nafusi, Ghadamis, Suknah, Awjilah, Tamasheq)

Source
Religions

Muslim (official; virtually all Sunni) 96.6%, Christian 2.7%, Buddhist 0.3%, Hindu <0.1, Jewish <0.1, folk religion <0.1, unafilliated 0.2%, other <0.1
(2010 est.)

Source
Total population
1990 2000 2010 2016* 2021*
4.26 million 5.18 million 6.041 million 6.385 million 6.71 million

*Estimate 

Source
 
 
Source
Urban population as % of total population
1960 1980 2000 2015
27% 70% 76% 79%
Source
Population median age

28.5 years (2016 estimate)

Source
Population growth rate

1.8% (2016 estimate)

Source
Life expectancy

76.5 years (2016 estimate)

Source
Literacy

Total population: 91%
Male: 96.7%
Female: 85.6% (2015 est.)

(age 15 and over can read and write)

Source
% of population living on less than $3.10 a day

N/A

Source
Inequality of wealth distribution (Gini index)

N/A

Source
Freedom House rating

Political Rights: 7
Civil Liberties: 6 (2017)                         

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

Source
Total telephone subscribers as % of population

Fixed 10.00%   Mobile 157.00% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Source
Internet users as % of total population

19.02% (2015)

Source
Mercer Cost of living index

N/A

Source
CO2 emissions

8.1 (2013)

Source

World's Best Developed & Emerging Markets Banks

2011
2010
2009

World's Best Islamic Financial Institutions

2013
2012

World's Best Global Banks

2012

World’s Best Foreign Exchange Providers

2012
2011

World's Best Banks By Region

2013
2012
2011

Best of…

2012
2009
2004

Additional Awards

2018
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