Economy ofLibya
Tripoli Central Business District from Oea Park.JPG
Tripoli financial capital of Libya
CurrencyLibyan dinar (LYD, ل.د)
Fiscal year
calendar year
Trade organisations
OPEC, COMESA, CEN-SAD, AMU
Country group
  • Developing/Emerging
  • Upper-middle income economy
Statistics
PopulationIncrease 6,678,567 (2018)
GDP
  • Increase $40.951 billion (nominal, 2018 est.)
  • Increase $74.719 billion (PPP, 2018 est.)
GDP rank
  • 90th (nominal, 2018)
  • 94th (PPP, 2018)
GDP growth
  • 26.7% (2017) 7.9% (2018e)
  • 5.5% (2019f) −58.7% (2020f) +170% (2021) </ref>
GDP per capita
  • Increase $6,288 (nominal, 2018 est.)
  • Increase $11,473 (PPP, 2018 est.)
GDP per capita rank
  • 84th (nominal, 2018)
  • 102nd (PPP, 2018)
GDP by sector
  • agriculture 1.3%
  • industry 63.8%
  • services 34.9%
  • (2017 est.)
Inflation (CPI)
9.293% (2018)
Population belowpoverty line
  • NA%
  • about one-third of Libyans live at or below the national poverty line
Gini coefficient
N/A
Human Development Index
Increase 0.708high(2018) (108th)
Labour force
  • Increase 2,553,671 (2019)
  • 38.7% employment rate (2012)
Labour force by occupation
  • agriculture: 17%
  • industry: 23%
  • services: 59%
  • (2004)
Unemployment30% (2004 est.)
Main industries
petroleum, steel, iron, food processing, textiles, cement
Ease-of-doing-business rank
Steady 186th (below average, 2020)
External
ExportsIncrease $18.38 billion (2017 est.)
Export goods
crude oil, refined petroleum products, natural gas, chemicals
Main export partners
  •  Italy 18.1%
  •  China 16%
  •  Germany 15%
  •  Spain 14.6%
  •  United Arab Emirates 5.73%
  •  France 5.5%
  •  United States 5.2%
  •  Austria 3.13%
  •  Greece 2.31%
  •  Turkey 1.37% (2019)
Imports$11.36 billion (2017 est.)
Import goods
machinery, transport equipment, semi-finished goods, food, consumer products
Main import partners
  •  China 16.2%
  •  Turkey 13.7%
  •  Italy 9.19%
  •  United Arab Emirates 8.96%
  •  Egypt 5.48%
  •  South Korea 4.18%
  •  Netherlands 3.92%
  •  Tunisia 3.56%
  •  Germany 3.21%
  •  Spain 3.1% (2019)
FDI stock
  • Increase $20.21 billion (31 December 2017 est.)
  • Decrease Abroad: $20.97 billion (31 December 2017 est.)
Current account
Increase $2.574 billion (2017 est.)
Grossexternal debt
Positive decrease $3.02 billion (31 December 2017 est.)
Public finances
Public debt
Positive decrease 4.7% of GDP (2017 est.)
Budget balance
−25.1% (of GDP) (2017 est.)
Revenues15.78 billion (2017 est.)
Expenses23.46 billion (2017 est.)
Economic aidrecipient ODA $9 million (2010), $642 million (2011), $87 million (2012)
Foreign reserves
Increase $74.71 billion (31 December 2017 est.)
Main data source:CIA World Fact Book
All values, unless otherwise stated, are in US dollars.